The cluster points to ongoing institutional accumulation in EXE, consistent with the bullish analyst consensus. Traders should watch for a sector catalyst (oil price move) to confirm the thesis before entering new longs, and monitor whether the 13F positions have persisted through Q4 2024.
Executive Summary
A large 2024-Q3 institutional cluster in EXE shows strong net buying ($388.9M added) led by Capital Group, Citadel, and Ameriprise, while 16 smaller funds trimmed/sold. The buying crosses active and passive managers, suggesting sector rotation into crude/natural gas exposure.
Key Financial Metrics
Institutional Positions
Net institutional flow: $325.3M
▲ Buyers (27)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Capital Group | NEW | +100% | $148.3M | $148.3M |
| Citadel | DOUBLED | +641.5% | $131.6M | $113.9M |
| Ameriprise Financial | DOUBLED | +303.3% | $105.8M | $79.6M |
| Verition Fund Management | DOUBLED | +1195.5% | $24.2M | $22.3M |
| Ing Groep | NEW | +100% | $16.1M | $16.1M |
▼ Sellers (16)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Rhumbline Advisers | EXIT | -100% | $27.4M | -$27.4M |
| Neuberger Berman Group | TRIM | -49% | $44.1M | -$21.6M |
| Mackenzie Financial | TRIM | -35.2% | $14.3M | -$5.0M |
| Franklin Resources | NEAR_EXIT | -81.7% | $4.3M | -$3.5M |
Key Facts
- 27 institutional buyers added positions worth $388.9M net; 16 sellers reduced holdings by $63.7M
- Capital Group opened a new $148.3M position — largest single move in the cluster
- Citadel doubled its stake (+641.5%) to $131.6M; Ameriprise doubled to $105.8M
- Rhumbline Advisers fully exited a $27.4M position; Neuberger Berman trimmed by $21.6M
- Analyst consensus is 87% bullish (26 Buy/10 Strong Buy out of 30 total); recent insiders bought $279K
Financial Impact
Net institutional buying of $388.9M (27 buyers) vs selling of $63.7M (16 sellers); net positive of ~$325M in new capital
Risk Factors
- 13F data has 45-day reporting lag; cluster may have been unwound by now
- Mixed cluster (27 buy vs 16 sell) reduces conviction relative to a one-sided setup
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-EXE-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | Institutional Cluster | $92.83 | awaiting T+60 | — | — |
Oct 19, 2026 7d ago | 8-K | $92.92 | awaiting T+60 | — | — |
Oct 13, 2026 13d ago | 8-K | $91.11 | awaiting T+60 | — | — |
Oct 6, 2026 20d ago | 8-K | $88.12 | awaiting T+60 | — | — |
Jul 30, 2026 12w ago | 8-K | $92.42 $93.23 | ▲ +0.88% | ▼ −1.59% | — |
Jul 27, 2026 13w ago | 8-K | $90.51 $92.67 | ▲ +2.39% | ▼ −1.67% | — |
Jun 12, 2026 19w ago | Institutional Cluster | $88.78 $98.19 | ▲ +10.60% | ▲ +7.34% | — |
Jun 4, 2026 20w ago | Insider Cluster | $92.07 $98.16 | ▲ +6.61% | ▲ +2.61% | — |
Jun 4, 2026 20w ago | Insider Cluster | $92.07 $98.16 | ▲ +6.61% | ▲ +2.61% | — |
Apr 28, 2026 25w ago | 8-K | $100.99 $91.52 | ▼ −9.38% | ▼ −13.49% | — |
US Market Status
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