D.E. Shaw's $28M new stake is a strong institutional vote of confidence in HROW's investment thesis. Monitor the next 13F filing (due mid-Feb 2025 for Q4 2024) to see if the position was maintained or increased. Meanwhile, the passive buying from Schwab and Invesco is likely index-rebalancing noise. The near-exit by Franklin Resources warrants attention but is offset by the larger active buy.
Executive Summary
Four institutions added $46.3M to HROW positions in Q3 2024, led by D.E. Shaw's new $28M stake, while two asset managers near-exited $4.6M. The cluster shows net accumulation of ~$41.7M, but two passive index funds (Schwab, Invesco) drove half the buying, diluting the signal. D.E. Shaw's active new position is a strong conviction signal, but the 13F staleness (quarter-end Sept 2024) tempers immediate read-through.
Key Financial Metrics
Institutional Positions
Net institutional flow: $41.7M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| D.E. Shaw | NEW | — | $28.0M | $28.0M |
| Schwab | DOUBLED | +195.9% | $11.3M | $9.5M |
| Invesco | DOUBLED | +171.2% | $8.9M | $7.4M |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Franklin Resources | NEAR_EXIT | -94.7% | $5.1M | -$4.4M |
| Belvedere Trading | NEAR_EXIT | -87.7% | $243.0K | -$178.6K |
Key Facts
- D.E. Shaw initiated a $28.0M new position, the largest single move in the cluster
- Schwab and Invesco each doubled existing passive holdings (+$9.5M and +$7.4M respectively)
- Franklin Resources near-exited a $5.1M position (-94.7% of shares), reducing to $652K
- Belvedere Trading trimmed $178K (-87.7%), near-exit
- Net institutional inflow of approximately $41.7M across 6 tracked funds
Financial Impact
Net institutional inflow of ~$41.7M in Q3 2024, with $46.3M in buying vs $4.6M in selling. D.E. Shaw's $28.0M new position represents the dominant active signal.
Risk Factors
- 13F data is stale (quarter-end Sep 2024); current positions may differ materially
- Passive buying from Schwab/Invesco may reverse on index rebalancing, reducing net accumulation
- Franklin Resources' near-exit could signal fundamental concerns that D.E. Shaw is betting against
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-HROW-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | 8-K | $30.58 $30.35 | ▼ −0.75% | ▼ −1.30% | — |
Oct 5, 2026 21d ago | Press Release | $30.58 $30.35 | ▼ −0.75% | ▼ −1.30% | — |
Aug 10, 2026 11w ago | 8-K | $39.42 $39.36 | ▼ −0.15% | ▼ −0.40% | — |
Aug 10, 2026 11w ago | Press Release | $39.42 $39.36 | ▲ +0.15% | ▲ +0.40% | — |
Aug 6, 2026 11w ago | 8-K | $39.92 $40.44 | ▲ +1.30% | ▲ +0.69% | — |
Jul 27, 2026 13w ago | Press Release | $37.46 | awaiting T+1 | — | — |
Jul 20, 2026 14w ago | Press Release | $44.45 $43.71 | ▼ −1.66% | ▼ −2.50% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $37.64 $38.93 | ▲ +3.43% | ▲ +1.66% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $37.65 $37.64 | ▼ −0.03% | ▼ −0.57% | — |
Jun 3, 2026 20w ago | 8-K | $33.32 $34.69 | ▲ +4.11% | ▲ +3.71% | — |
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.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers