The cluster is directionally bullish but small in scale (~$4M net inflow on a $1.3B market cap) and lacks insider support. Monitor for a follow-up 13F filing in Q3 to see if these positions were maintained or reversed — the 45-day reporting lag means this cluster may already be stale. The absence of insider buying suggests the thesis is not fully validated by management.
Executive Summary
A bullish institutional cluster formed in AMN Healthcare during 2026-Q2, with 8 buyers adding $5.5M in net new positions versus 2 sellers reducing by $1.5M. The buying is broad-based across asset managers and an active value firm, but the total dollar amounts are modest relative to AMN's $1.3B market cap. The cluster lacks insider corroboration (confluence score 17/100, no open-market insider buying), weakening the conviction signal despite the favorable buyer-to-seller ratio.
Key Financial Metrics
Institutional Positions
Net institutional flow: $4.0M
▲ Buyers (8)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Massachusetts Financial Services | DOUBLED | +135.2% | $2.3M | $1.7M |
| Citigroup | ADD | +46.4% | $1.9M | $1.1M |
| Deutsche Bank | ADD | +26.8% | $1.3M | $742.0K |
| Tweedy Browne | ADD | +33.4% | $1.2M | $695.0K |
| Wealth Enhancement Advisory Services | ADD | +41.7% | $770.0K | $465.0K |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Mitsubishi Ufj Trust & Banking | NEAR_EXIT | -95.2% | $1.6M | -$1.5M |
| National Bank Of Canada | NEAR_EXIT | -95.3% | $6.0K | -$5.4K |
Key Facts
- 8 institutional buyers added a net $5.5M in AMN shares during 2026-Q2
- 2 sellers (Mitsubishi UFJ Trust and National Bank of Canada) nearly fully exited, reducing by $1.5M
- Largest buyer: Massachusetts Financial Services doubled its position (+135.2%) to $2.3M
- No open-market insider buying was detected; the 13F/Form 4 confluence score is a low 17/100
- The cluster is dominated by asset managers; only one active value fund (Tweedy Browne) participated
Financial Impact
8 institutions accumulated $5.5M in new AMN positions while 2 sellers reduced holdings by $1.5M, for a net inflow of approximately $4.0M
Risk Factors
- 45-day reporting lag means positions may already be unwound
- Low insider confluence (score 17/100) reduces conviction
- Modest absolute dollar amounts relative to market cap limit impact
- Cluster dominated by asset managers rather than high-conviction activists
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-AMN-2026-Q2 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 12, 2026 7w ago | Institutional Cluster | $32.44 $33.05 | ▲ +1.88% | ▲ +3.78% | — |
Aug 6, 2026 8w ago | Press Release | $36.00 $33.80 | ▼ −6.11% | ▼ −5.71% | — |
Jun 11, 2026 16w ago | Institutional Cluster | $30.79 $31.54 | ▲ +2.44% | ▲ +0.55% | — |
May 4, 2026 21w ago | 8-K | $20.72 $29.34 | ▲ +41.60% | ▲ +35.96% | — |
Apr 9, 2026 25w ago | Press Release | $18.49 $20.97 | ▼ −13.41% | ▼ −5.84% | — |
Mar 18, 2026 28w ago | DEFA14A | $17.93 $20.45 | ▲ +14.05% | ▲ +8.01% | — |
Feb 28, 2026 30w ago | Institutional Cluster | $20.40 $18.73 | ▼ −8.19% | ▼ −0.25% | — |
US Market Status
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