With active managers (Russell, Dimensional, Citadel, DE Shaw) all adding in the quarter while no passive buyers participated, the cluster reads as a fundamental value or catalyst-driven thesis rather than index rebalancing. Watch for a Q4 2024 earnings update or corporate event that could validate this positioning.
Executive Summary
A moderately sized institutional cluster in 2024-Q3 shows mixed net conviction: 9 buyers accumulated $1.3M net while 6 sellers trimmed a combined $1.0M. The buying was dominated by active asset managers (Russell Investments, Dimensional, D.E. Shaw, Citadel) rather than passive index funds, which amplifies the signal.
Key Financial Metrics
Institutional Positions
Net institutional flow: $259.0K
▲ Buyers (9)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Russell Investments Group | ADD | +81.9% | $5.9M | $1.1M |
| Dimensional Fund Advisors | ADD | +34% | $4.8M | -$554.5K |
| D.E. Shaw | ADD | +71.1% | $1.5M | $184.0K |
| Citadel Advisors | DOUBLED | +313.2% | $629.0K | $401.0K |
| Gabelli Funds | DOUBLED | +125% | $243.0K | $81.0K |
▼ Sellers (6)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Invesco | TRIM | -32.2% | $720.0K | -$393.6K |
| Sei Investments | TRIM | -72.6% | $459.0K | -$375.0K |
| Metlife Investment Management | NEAR_EXIT | -84.2% | $117.0K | -$104.8K |
Key Facts
- 9 institutional buyers added $1.3M net in CLAR during 2024-Q3; 6 sellers reduced holdings by $1.0M
- Top buyer: Russell Investments added 592K shares, increasing its position to $5.9M value
- Top seller: Invesco trimmed 34.5K shares, reducing its value by $394K
- Gabelli Funds, Citadel, and Federated Hermes all roughly doubled their positions
- Active managers dominated the buying side — no passive/index mega-firms were buyers
- Dimensional Fund Advisors added 268.7K shares but its value fell by $555K, likely due to share price decline
Financial Impact
Buy-side: $1.3M aggregate net inflow from 9 buyers (Russell Investments alone added $1.1M). Sell-side: $1.0M aggregate net outflow from 6 sellers (Led by Invesco -$394K, Sei Investments -$375K). Net cluster delta: +$259K.
Risk Factors
- 13F data is 45-day stale; positions may have been partially or fully exited
- Sell-side still material — Invesco and Sei sold $769K combined, indicating competing views
- Cluster net dollar flow is only $259K positive — not a large signal in absolute terms
- Underlying business fundamentals remain unclear from this cluster alone
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-CLAR-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | Press Release | $3.83 | awaiting T+60 | — | — |
Oct 1, 2026 26d ago | SC 13D/A | $3.45 | awaiting T+60 | — | — |
Sep 22, 2026 5w ago | Institutional Cluster | $3.57 | awaiting T+60 | — | — |
Jun 19, 2026 18w ago | Institutional Cluster | $3.02 $3.51 | ▼ −16.23% | ▼ −14.48% | — |
Jun 12, 2026 19w ago | Institutional Cluster | $3.10 $3.72 | ▲ +20.00% | ▲ +16.74% | — |
Apr 23, 2026 26w ago | Press Release | $2.73 $3.36 | ▲ +23.08% | ▲ +18.00% | — |
Mar 5, 2026 33w ago | 8-K | $2.96 $2.91 | ▲ +1.79% | ▲ +14.57% | — |
Mar 5, 2026 33w ago | Press Release | $2.96 $2.91 | ▲ +1.79% | ▲ +14.57% | — |
Mar 4, 2026 33w ago | Press Release | $3.07 $2.91 | ▼ −5.28% | ▼ −16.58% | — |
US Market Status
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