The mixed institutional cluster with a slight selling bias is partially offset by insider buying. Monitor for any catalyst (earnings, guidance, or portfolio repositioning) that could clarify the thesis. The 45-day 13F lag means these positions may already be stale; watch for any subsequent Form 4 insider activity or earnings-driven moves.
Executive Summary
Institutional activity in CSR for 2026-Q2 shows mixed signals: 4 buyers added $4.1M in net new positions (led by JPMorgan and Nuveen), while 5 sellers reduced holdings by $5.7M (led by Citigroup and Fidelity near-exiting). The net dollar change is slightly negative (-$1.6M), and the cluster is split between passive and active managers, weakening the directional signal. However, insider buying of $121K from 2 open-market buyers provides some corroboration, earning a 'conviction' confluence score of 65/100, which tempers the bearish read from the seller-heavy count.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$1.6M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| JPMorgan | ADD | +27.7% | $13.3M | $2.8M |
| Nuveen | ADD | +34.9% | $3.8M | $911.0K |
| Commonwealth Of Pennsylvania Public School | ADD | +41.2% | $929.0K | $256.0K |
| Pnc Financial Services Group | ADD | +46% | $273.0K | $82.0K |
▼ Sellers (5)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Citigroup | TRIM | -73.4% | $5.1M | -$3.8M |
| Fidelity | NEAR_EXIT | -93.9% | $1.8M | -$1.7M |
| Lpl Financial | TRIM | -35.7% | $631.0K | -$234.3K |
| Mirae Asset Global Investments Co. | NEAR_EXIT | -79.9% | $20.0K | -$15.9K |
| Farther Finance Advisors | TRIM | -58.8% | $5.0K | -$2.9K |
Key Facts
- 4 institutional buyers added $4.1M in net new CSR positions in Q2 2026
- 5 institutional sellers reduced holdings by $5.7M, led by Citigroup trimming $3.8M and Fidelity near-exiting $1.7M
- Net institutional dollar flow was negative ~$1.6M
- 2 insiders made open-market purchases totaling $121K, earning a 'conviction' confluence score of 65/100
- JPMorgan (mega-passive) added $2.8M, Nuveen added $911K; Citigroup (asset manager) trimmed $3.8M
Financial Impact
Net institutional selling of approximately $1.6M (4 buyers added $4.1M vs 5 sellers removed $5.7M). Insider buying of $121K partially offsets.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- Selling is concentrated in larger active managers (Citigroup, Fidelity) while buying is dominated by passive/index rebalancing (JPMorgan) and smaller asset managers
- Net dollar flow is negative, suggesting institutional sentiment is cautious despite insider buying
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-CSR-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 19d ago | DEFM14A | $54.91 | awaiting T+60 | — | — |
Oct 7, 2026 19d ago | 425 | $54.91 | awaiting T+60 | — | — |
Oct 1, 2026 25d ago | Press Release | $54.50 | awaiting T+60 | — | — |
Sep 23, 2026 4w ago | 425 | $55.17 | awaiting T+60 | — | — |
Sep 23, 2026 4w ago | 8-K | $55.17 | awaiting T+60 | — | — |
Sep 23, 2026 4w ago | 425 | $55.17 | awaiting T+60 | — | — |
Sep 9, 2026 6w ago | 425 | $57.36 | awaiting T+60 | — | — |
Sep 9, 2026 6w ago | 8-K | $57.36 | awaiting T+60 | — | — |
Aug 14, 2026 10w ago | Institutional Cluster | $54.64 | awaiting T+60 | — | — |
Aug 14, 2026 10w ago | 8-K | $54.64 | awaiting T+60 | — | — |
US Market Status
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