NVR INC

Assenagon Asset Management's NVR position fell from 13,918 shares to 6,921 this quarter — a real 50.3% reduction and a $47.7 million outflow, more than five times larger than any other move among the stock's 67 tracked institutional holders. Assenagon carries a quasi-passive classification in this dataset, so the cut likely reflects an index or mandate shift rather than a fresh bearish call, but its scale still dominates the quarter. On the buy side, Merit Financial Group grew its stake more than 37-fold, from 37 to 1,397 shares, a genuine $9.3 million purchase, while Wealth Enhancement Advisory Services added 174.2% ($3.4 million real buy) and Wedge Capital Management added 27.5% ($2.2 million real buy). Five holders — including Luma Capital and Montgomery Investment Management — carried the exact same share count as last quarter.