CUMMINS INC

CMI Q1 2026 institutional ownership is a $60.0B book across 1,881 holders. BlackRock is the largest holder at $6.4B (11.8M shares, +0.5%, +$343M). Vanguard Capital Management $4.8B (9.0M shares, NEW); Vanguard Portfolio Management $4.0B (7.5M shares, NEW); Vanguard Fiduciary Trust $418M (0.8M shares, NEW). State Street $3.7B (6.8M shares, +5.2%, +$340M) -- second-largest add. FMR LLC $2.9B (5.4M shares, -0.7%, -$37M) -- largest seller. Geode Capital $2.0B (3.7M shares, +4.9%, +$186M). Fisher Asset $1.9B (3.5M shares, +3.8%, +$140M). Morgan Stanley $1.6B (3.1M shares, -0.04%, -$1.1M). Northern Trust $927M (1.7M shares, +3.5%). UBS AM $851M (1.6M shares, +5.9%, +$120M). Bank of America $945M (1.8M shares, +6.4%, +$110M). Goldman Sachs $477M (0.9M shares, +16.3%, +$132M). Dimensional Fund Advisors $752M (1.4M shares, -5.1%). RBC $609M (1.1M shares, -17.6%, -$183M) -- largest percentage reduction. Invesco $501M (0.9M shares, +15.1%, +$114M). BNY Mellon $526M (1.0M shares, -4.5%). Charles Schwab IM $492M (0.9M shares, +3.7%). AQR Capital $511M (1.0M shares, +17.8%, +$132M). VOYA Investment $399M (0.7M shares, +34.5%, +$161M). Jane Street (market_maker) $350M (0.6M shares, +51.9%, +$176M). Boston Partners $574M (1.1M shares, -1.6%). Legal & General $541M (1.0M shares, -0.3%). Raymond James $802M (1.5M shares, -5.0%). Flossbach von Storch not present. HSBC -$366M (largest reduction by value, -50.8%). State Farm not present. New positions: Vanguard three. Sellers: FMR -$37M, Morgan Stanley -$1.1M, RBC -$183M, Dimensional -$38M, BNY Mellon -$23M, Raymond James -$78M. Buyers: BlackRock +$343M, State Street +$340M, Geode +$186M, Fisher +$140M, UBS AM +$120M, BofA +$110M, Goldman +$132M, Invesco +$114M, AQR +$132M, VOYA +$161M, Jane Street(MM) +$176M, Northern Trust +$58M, Schwab +$33M. The 75.50 whaleScore reflects AUM. Smart-money read: lean-bullish industrial. The defining feature of CMI Q1 2026 is broad active-manurer adds into industrial/engine names: BlackRock +$343M, State Street +$340M, Geode +$186M, Fisher +$140M, Goldman +$132M, AQR +$132M, VOYA +$161M, Jane Street +$176M represent institutional conviction in heavy-industry/engine/heavy-equipment. HSBC'- $366M (-51%) and RBC'- $183M are international bank reductions, possibly balance-sheet driven rather than thesis-driven. FMR'- $37M is modest. Net read: cautiously bullish on Cummins -- the breadth of active-manager adds into a cyclical industrials name signals a structural reflation/rate-cut positioning trade. Vanguard split adds $9.3B of passive-core continuity.