The 100% buy-side cluster with no sellers is notable but dominated by passive index funds (Schwab, Invesco) rather than active alpha-seeking capital. This likely reflects AMTM's inclusion in broader indices or ETF reconstitution, not a concentrated activist or fundamental thesis. Monitor next 13F cycle for active manager conviction changes — if the passive-dominant mix shifts toward active managers, the signal strengthens.
Executive Summary
9 institutional buyers initiated new positions in AMTM during 2024-Q3, accumulating $443.8M in aggregate. The cluster is dominated by passive index funds (Schwab, Invesco) and asset managers, with a smaller quant component (Citadel). There were zero institutional sellers in the data.
Key Financial Metrics
Institutional Positions
Net institutional flow: $443.8M
▲ Buyers (9)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Invesco | NEW | +0% | $251.6M | $251.6M |
| Dimensional Fund Advisors | NEW | +0% | $40.5M | $40.5M |
| Massachusetts Financial Services | NEW | +0% | $39.6M | $39.6M |
| Legal & General Group | NEW | +0% | $26.8M | $26.8M |
| Schwab | NEW | +0% | $24.5M | $24.5M |
Key Facts
- 9 institutions initiated new positions with aggregate current holdings of $443.8M, zero sellers detected
- Invesco alone holds $251.6M (~57% of aggregate buying value), likely index/passive-driven
- Active managers (Dimensional, UBS, Legal & General, MFS) collectively added ~$138.7M
- Citadel's $15.5M quant position adds modest active layer to an otherwise passive-heavy cluster
- Cluster is 100% NEW positions — no prior 13F holdings were recorded for any of these funds
Financial Impact
9 institutions accumulated $443.8M in new AMTM positions during Q3 2024, with no institutional selling detected. Invesco's $251.6M stake dominates at 57% of aggregate buy-side value.
Risk Factors
- Cluster is ~57% passive/index-driven (Invesco + Schwab), reducing signal content
- 13F 45-day reporting lag means positions may already be unwound or adjusted
- No sellers in the data is mechanically unusual and may reflect data truncation, not genuine unanimity
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-AMTM-2024-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | GOVT-CONTRACT | — | awaiting T+20 | — | — |
Sep 30, 2026 26d ago | GOVT-CONTRACT | $18.48 | awaiting T+20 | — | — |
Sep 29, 2026 27d ago | GOVT-CONTRACT | $18.12 | awaiting T+20 | — | — |
Sep 22, 2026 4w ago | GOVT-CONTRACT | $19.71 $20.15 | ▲ +2.23% | ▲ +1.54% | — |
Sep 18, 2026 5w ago | GOVT-CONTRACT | $19.90 $19.48 | ▼ −2.11% | ▼ −1.20% | — |
Jul 31, 2026 12w ago | GOVT-CONTRACT | $23.18 $19.99 | ▼ −13.76% | ▼ −15.00% | — |
Jul 31, 2026 12w ago | GOVT-CONTRACT | $23.18 $19.99 | ▼ −13.76% | ▼ −15.00% | — |
Jul 20, 2026 14w ago | GOVT-CONTRACT | $20.98 $20.95 | ▼ −0.14% | ▼ −2.70% | — |
Jul 9, 2026 15w ago | GOVT-CONTRACT | $21.01 $24.77 | ▲ +17.90% | ▲ +15.47% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $22.86 $21.01 | ▼ −8.09% | ▼ −9.87% | — |
US Market Status
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