Mapping the flow data landscape 

‍Flow data and positions data often go hand in hand, with fund flows capturing the movement of capital, and positions capturing the allocation. As changes to one typically affect the other, use cases often overlap. In a recent intelligence report, Neudata outlines the leading data providers which offer both institutional flow and positions data, highlights some alternatives to the incumbents, and suggests what to look out for in 2026. 

‍The basics 

Fund flow data shows the volume of investment flowing in and out of various investment vehicles. Institutional flow looks at vehicles used by institutional investors specifically. Positions data, on the other hand, shows how investment is allocated, whether that be at the asset, location, sector or security level. 

‍Who is the leader, and why?

The report identifies four features of a flows or positions dataset which can make it more appealing to investors, and how these characteristics compare to the standard across products offered by different providers. Desirable features include: 

• Having more unique sources 
• Using a give-to-get model to source directly from funds 
• Covering a wide and diverse range of securities 
• Offering additional aggregations 

The incumbent in this space, used by 600+ investment firms, can attribute its success to offering these desirable characteristics in its data product. Through its give-to-get model, it sources data from 600+ contributing hedge funds and asset managers, and provides positions and flow data at the security level for 15k equities globally. Neudata also points out the timeliness of this vendor’s data, with updates provided daily with a T+1-day lag, while other vendors which rely on public filings are limited to a quarterly lag. 

‍Alternative and complementary providers 

While the sheer number of funds using the incumbent’s data speaks to its utility, Neudata points out that it comes with a hefty price tag. For those looking for more affordable alternatives, or those who do not wish to participate in its give-to-get model, the report highlights alternative providers, and complementary data sources that could be used alongside. 

Among the alternative providers mentioned, one sources data from 2.5k hedge funds and provides as-reported flows with a T+7-day lag, while another collects positions and flows as exhaust from its platform, which is used by 600+ hedge funds. Crucially, Neudata points out how these alternatives do track institutional investment, but each lacks in a critical area, preventing it from competing more closely with the market leader. 

The report goes on to point out a slightly different, but complementary dataset. The provider, a filings aggregator, uses its proprietary classification of funds to standardise investment filings across 40 countries. Neudata suggests that this dataset could be a valuable addition to quants looking into institutional flow and positioning for highly concentrated global equities. 

‍What to look out for in 2026 

Finally, the report outlines two new vendors to look out for this year, having launched their products in 2025, and provides insight into the trends Neudata will be watching closely in 2026. Namely, data buyers are looking for more direct alternatives to the market leader, investors are more aggressively pursuing broker-sourced data, and demand for more granular data is increasing, with Neudata expecting to see more granular flow products emerge from leading exchanges. 

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