The divergence between large active buyers (Neuberger Berman, Norges Bank) and sellers (Janus Henderson, Citadel) suggests no clear consensus. Monitor upcoming earnings for guidance on rate base growth and regulatory outcomes — these will likely determine which side is correct. The 45-day 13F lag means positions may have already been adjusted.
Executive Summary
In Q3 2024, five institutional buyers accumulated $79.1M in CPK (net +$58.0M), led by Neuberger Berman (new $36.0M position) and Norges Bank (doubled to $8.9M). Six sellers reduced holdings by $12.0M, including Citadel and Federated Hermes exiting near-fully. The cluster is mixed: large active asset managers are building positions while several quant and traditional managers are trimming, suggesting divergent views on the utility's near-term outlook.
Key Financial Metrics
Institutional Positions
Net institutional flow: $45.9M
▲ Buyers (5)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Norges Bank | DOUBLED | +1073.7% | $8.9M | $8.2M |
| Neuberger Berman Group | DOUBLED | +7399.9% | $36.0M | $35.6M |
| Ubs Am, A Distinct Business Un | ADD | +31.1% | $7.6M | $2.7M |
| Russell Investments Group | ADD | +92.6% | $7.9M | $4.4M |
| Legal & General Group | ADD | +38.4% | $18.6M | $7.1M |
▼ Sellers (6)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Citadel | NEAR_EXIT | -95.3% | $1.4M | -$1.3M |
| Janus Henderson Group | TRIM | -33.9% | $29.3M | -$6.7M |
| Victory Capital Management | TRIM | -28.7% | $13.2M | -$2.2M |
| Voloridge Investment Managemen | TRIM | -42.1% | $2.1M | -$679.8K |
| Allianz Asset Management | TRIM | -52.5% | $648.0K | -$287.7K |
| Federated Hermes | NEAR_EXIT | -99.6% | $885.0K | -$881.6K |
Key Facts
- 5 institutional buyers added $58.0M net, bringing total buyer holdings to $79.1M
- 6 institutional sellers reduced holdings by $12.0M
- Neuberger Berman built a new $36.0M position (7,399.9% increase from $411K)
- Norges Bank doubled its stake to $8.9M (+1,073.7%)
- Citadel and Federated Hermes nearly exited their positions (95.3% and 99.6% reductions)
- Janus Henderson trimmed $6.7M (33.9% reduction) — the largest seller by dollar amount
- Net institutional flow was positive: +$45.9M (buyers $58.0M minus sellers $12.0M)
Financial Impact
5 institutions accumulated $79.1M in new positions (net +$58.0M) while 6 institutions reduced holdings by $12.0M, resulting in a net institutional inflow of approximately $45.9M
Risk Factors
- 13F data is 45+ days old; current positions may differ materially
- Utility sector faces interest rate sensitivity and regulatory risk
- Historical model calls on CPK have underperformed (avg T+20 -2.90%, 33% win rate)
- Mixed cluster signal — no dominant directional thesis
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-CPK-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 1, 2026 4w ago | Press Release | $132.30 $128.59 | ▼ −2.80% | ▼ −3.98% | — |
Sep 1, 2026 4w ago | 8-K | $132.30 $128.59 | ▼ −2.80% | ▼ −3.98% | — |
Aug 6, 2026 8w ago | Press Release | $133.50 $132.24 | ▼ −0.94% | ▼ −1.54% | — |
Jul 21, 2026 10w ago | Press Release | $135.23 $136.84 | ▲ +1.19% | ▼ −1.71% | — |
Jul 13, 2026 11w ago | 8-K | $133.91 $132.36 | ▼ −1.16% | ▼ −4.34% | — |
Jun 11, 2026 16w ago | Institutional Cluster | $123.55 $128.87 | ▲ +4.31% | ▲ +2.53% | — |
May 26, 2026 18w ago | Insider Cluster | $125.85 $122.75 | ▼ −2.46% | ▼ −0.56% | — |
May 6, 2026 21w ago | 8-K | $127.23 $120.62 | ▼ −5.20% | ▼ −8.33% | — |
Mar 25, 2026 27w ago | DEFA14A | $123.44 $127.91 | ▲ +3.62% | ▼ −4.24% | — |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access