The concentrated institutional accumulation suggests a consensus thesis around post-merger synergy realization or undervaluation. With zero sellers, the signal is unusually one-sided. Monitor next earnings release for guidance updates and margin improvement vs. merger cost-save targets. The 45-day 13F lag means positions may have been partially unwound, but the breadth of new buyers from diverse fund types supports a continued catalyst thesis.
Executive Summary
Twenty institutional investors initiated new positions in FUN during 2024-Q3, accumulating $369.9M in stock with zero selling. The cluster is dominated by active asset managers (Ing Groep, Neuberger Berman, Dimensional, Capital World, Walleye) and includes quant fund Citadel, signaling strong conviction in the post-merger thesis for Six Flags. Despite poor historical T+20 outcomes on this ticker, the breadth and one-sided nature of buying suggests a potential catalyst-driven re-rating.
Key Financial Metrics
Institutional Positions
Net institutional flow: $369.9M
▲ Buyers (20)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Ing Groep | NEW | +100% | $105.5M | $105.5M |
| Neuberger Berman Group | NEW | +100% | $44.4M | $44.4M |
| Dimensional Fund Advisors | NEW | +100% | $39.6M | $39.6M |
| Capital World Investors | NEW | +100% | $35.4M | $35.4M |
| Walleye Capital | NEW | +100% | $35.4M | $35.4M |
| Citadel | NEW | +100% | $17.7M | $17.7M |
Key Facts
- 20 institutional buyers, 0 sellers in 2024-Q3
- Total new institutional position value: $369.9M
- Largest buyer: Ing Groep ($105.5M new position)
- Buyers include quant (Citadel), active asset managers, and mega-passive (Schwab)
- No institutional selling activity detected
Financial Impact
20 institutions accumulated $369.9M in new positions; net change +$369.9M (all buying, no selling). This represents a material increase in institutional ownership, likely several percent of float.
Risk Factors
- 13F positions are as of 2024-Q3, now potentially stale; some buyers may have exited since quarter-end
- Historical FUN reports show 25% win rate at T+20, indicating the stock has been difficult to time
- Schwab's passive buying may reflect index rebalancing, not conviction; however, active managers dominate the cluster
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-FUN-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 10w ago | 8-K | $15.75 $15.03 | ▼ −4.57% | ▼ −5.17% | — |
Jun 12, 2026 18w ago | Institutional Cluster | $23.44 $19.46 | ▼ −16.98% | ▼ −18.76% | — |
Jun 11, 2026 18w ago | Institutional Cluster | $24.39 $18.65 | ▼ −23.53% | ▼ −25.43% | — |
May 27, 2026 20w ago | 8-K | $20.30 $22.01 | ▲ +8.42% | ▲ +11.57% | — |
May 27, 2026 20w ago | 3 | $20.30 $22.01 | ▲ +8.42% | ▲ +11.57% | — |
May 27, 2026 20w ago | 3 | $20.30 $22.01 | ▲ +8.42% | ▲ +11.57% | — |
May 20, 2026 21w ago | 8-K | $19.72 $22.81 | ▲ +15.67% | ▲ +15.34% | — |
May 12, 2026 22w ago | Insider Cluster | $18.90 $23.14 | ▲ +22.43% | ▲ +24.16% | — |
May 7, 2026 23w ago | 8-K | $22.01 $20.72 | ▼ −5.86% | ▼ −5.88% | — |
May 7, 2026 23w ago | 8-K | $22.76 $20.29 | ▼ −10.85% | ▼ −13.99% | — |
US Market Status
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