The mixed cluster suggests no clear consensus among institutions. The active-manager buying (Assenagon, Tudor, Legal & General) at ~$41/share average indicates some value conviction, but the simultaneous trimming by quant funds (Citadel, D.E. Shaw) warrants caution. Monitor upcoming earnings and the next 13F filing to see if these accumulators held or added further — a confirmed build by multiple active managers would be a stronger signal. Until then, the 13F data is stale and the net signal is ambiguous.
Executive Summary
Four active managers accumulated positions in Camden National (CAC) during Q3 2024, with Assenagon more than doubling its stake and Tudor, Legal & General, and Cwm adding holdings worth $1.9M net. Concurrently, four sellers — including quant funds Citadel and D.E. Shaw alongside passive giant Invesco — trimmed their positions by a combined $747K. The mixed activity suggests some value-oriented funds see opportunity in the regional bank while others reduce exposure, creating an ambiguous signal.
Key Financial Metrics
Institutional Positions
Net institutional flow: $1.1M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | DOUBLED | +194.1% | $1.4M | $1.0M |
| Legal & General Group | ADD | +60.9% | $905.0K | $456.0K |
| Tudor Investment Corp Et Al | ADD | +64% | $832.0K | $427.0K |
| Cwm | ADD | +50% | $20.0K | $9.0K |
▼ Sellers (4)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Invesco | TRIM | -30.4% | $1.6M | -$200.8K |
| Citadel | TRIM | -40.1% | $1.3M | -$320.4K |
| D.E. Shaw | TRIM | -47.2% | $579.0K | -$196.0K |
| Rafferty Asset Management | TRIM | -25.6% | $439.0K | -$30.2K |
Key Facts
- 4 institutional buyers: Assenagon DOUBLED ($1.0M addition), Tudor ADDED ($427K), Legal & General ADDED ($456K), Cwm ADDED ($9K)
- 4 institutional sellers: Invesco TRIM $201K, Citadel TRIM $320K, D.E. Shaw TRIM $196K, Rafferty TRIM $30K
- Net institutional buying direction (buyers +$1.9M vs sellers -$747K) favors accumulation, but the 45-day 13F lag means positions may have changed since quarter-end
- Half of the selling pressure came from quant funds (Citadel, D.E. Shaw), which may reflect systematic risk-reduction rather than fundamental thesis abandonment
- Cluster is dominated by active asset managers on the buy side and a mix of passive/quants on the sell side, giving the buying signal slightly more conviction weight
Financial Impact
4 institutional buyers accumulated $3.1M in holdings (net +$1.9M in new buying) while 4 sellers reduced by $747K, for a net institutional inflow of approximately $1.15M during Q3 2024
Risk Factors
- 13F reporting lag (45 days) means positions are already 3+ months old and may have been reversed
- Quant selling (Citadel, D.E. Shaw) may predict mean-reversion pressure if their risk models are correct
- Low float/low liquidity in CAC could amplify price impact if either buyer or seller group continues its direction post-quarter
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-CAC-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | Press Release | $58.17 | awaiting T+20 | — | — |
Oct 27, 2026 today | 8-K | $58.17 | awaiting T+20 | — | — |
Oct 1, 2026 26d ago | Press Release | $56.42 | awaiting T+20 | — | — |
Aug 15, 2026 10w ago | Institutional Cluster | $58.38 $58.36 | ▼ −0.03% | ▲ +1.94% | — |
Jun 30, 2026 17w ago | 8-K | $55.79 $58.48 | ▲ +4.81% | ▲ +7.00% | — |
Jun 18, 2026 18w ago | 8-K | $51.49 $55.59 | ▲ +7.96% | ▲ +7.43% | — |
Jun 12, 2026 19w ago | Institutional Cluster | $52.68 $53.73 | ▲ +1.99% | ▲ +0.21% | — |
US Market Status
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