The net buying by active managers (Arrowstreet, Marshall Wace, Legal & General) suggests a shared thesis around ARTNA's regulated water utility stability and potential rate case outcomes. However, Citadel's significant trim and the 45-day 13F lag warrant caution. Monitor upcoming earnings for any rate case updates or operational changes that could validate the accumulation thesis.
Executive Summary
In Q3 2024, six institutional buyers added $8.7M in ARTNA positions while five sellers reduced holdings by $1.7M, resulting in a net accumulation of $7.0M. The buying is dominated by active asset managers (Arrowstreet, Marshall Wace, Legal & General) and a mega-passive fund (Invesco), while Citadel's significant trim (-52.6%) introduces a mixed signal. The cluster suggests a shared thesis around ARTNA's regulated water utility stability, though the 13F lag means positions may have shifted since quarter-end.
Key Financial Metrics
Institutional Positions
Net institutional flow: $7.0M
▲ Buyers (6)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Arrowstreet Capital, Limited P | DOUBLED | +234.1% | $2.2M | $2.2M |
| Legal & General Group | ADD | +87.4% | $6.4M | $3.2M |
| Marshall Wace | ADD | +83.2% | $2.0M | $967.0K |
| Invesco | ADD | +62% | $4.2M | $1.8M |
| Trexquant Investment | ADD | +42.2% | $1.0M | $341.0K |
| First Trust Advisors | ADD | +25.1% | $1.2M | $300.0K |
▼ Sellers (5)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Citadel | TRIM | -52.6% | $2.5M | -$1.3M |
| Mirae Asset Global Etfs Holdin | TRIM | -70.6% | $241.0K | -$166.0K |
| Rhumbline Advisers | NEAR_EXIT | -93.1% | $172.0K | -$159.6K |
| Pnc Financial Services Group | TRIM | -54.4% | $147.0K | -$76.2K |
| Captrust Financial Advisors | TRIM | -27.7% | $301.0K | -$70.8K |
Key Facts
- 6 institutional buyers added $8.7M in new holdings; 5 sellers reduced by $1.7M
- Arrowstreet Capital doubled its position (+234.1%), adding $2.2M in value
- Legal & General Group added the most in absolute terms (+$3.2M, +87.4% shares)
- Citadel trimmed 52.6% of its position, reducing value by $1.26M
- Net institutional inflow of ~$7.0M into ARTNA during Q3 2024
- Active managers dominate the buying side; passive/index funds are minimal
Financial Impact
Net institutional accumulation of approximately $7.0M in ARTNA during Q3 2024, with total buyer holdings reaching $17.1M and seller holdings dropping to $1.7M
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- Citadel's large trim (-52.6%) introduces a contrarian signal from a sophisticated quant fund
- ARTNA's small float and OTC listing may amplify price moves from any institutional rebalancing
- Regulatory rate case outcomes could materially impact earnings
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-ARTNA-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 8w ago | Press Release | $34.40 $36.30 | ▲ +5.52% | ▲ +4.92% | — |
Jun 12, 2026 16w ago | Institutional Cluster | $32.77 $33.98 | ▲ +3.69% | ▲ +1.91% | — |
May 5, 2026 21w ago | Press Release | $31.90 $32.06 | ▲ +0.50% | ▼ −2.28% | — |
US Market Status
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