The heavy selling by two large asset managers (Panagora and Victory Capital) exiting near-complete positions outweighs the scattered buying from smaller funds. With no insider buying and bearish analyst sentiment, traders should watch for further institutional distribution and consider short-side positioning or avoiding HTH until a clear catalyst emerges.
Executive Summary
Hilltop Holdings (HTH) saw a mixed institutional cluster in Q2 2026: 5 buyers added $4.5M in net new positions, while 3 sellers reduced holdings by $14.8M. The buying was dominated by First Trust Advisors ($2.9M add) and Russell Investments ($793K add), but two asset managers — Panagora and Victory Capital — nearly fully exited large positions totaling $14.7M in sales. The net selling pressure and lack of insider buying (confluence score 17/100, divergent) suggest institutional conviction is weak despite the buyer count advantage. With analyst consensus heavily tilted to Hold/Sell (0% bullish) and recent insider selling of $1.3M, the cluster signals caution rather than opportunity.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$10.3M
▲ Buyers (5)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| First Trust Advisors | ADD | +81.6% | $5.9M | $2.9M |
| Russell Investments Group | ADD | +46.4% | $2.1M | $793.0K |
| State Board Of Administration Of Florida | DOUBLED | +145.5% | $1.3M | $792.0K |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Panagora Asset Management | NEAR_EXIT | -93.1% | $8.3M | -$7.7M |
| Victory Capital Management | NEAR_EXIT | -97% | $7.3M | -$7.1M |
| Lpl Financial | TRIM | -27.7% | $291.0K | -$63.3K |
Key Facts
- 5 institutional buyers added $4.5M in new positions during Q2 2026, led by First Trust Advisors (+$2.9M) and Russell Investments (+$793K)
- 3 institutional sellers reduced holdings by $14.8M, led by Panagora Asset Management (-$7.7M, near-exit) and Victory Capital Management (-$7.1M, near-exit)
- Net institutional flow was negative: $14.8M sold vs $4.5M bought
- Confluence score of 17/100 (divergent) indicates no insider open-market buying to corroborate the institutional buying
- Analyst consensus is 0% bullish (6 Hold, 4 Sell, 1 Strong Sell); recent insider activity shows 4 sells totaling $1.3M in the past 30 days
Financial Impact
3 sellers reduced holdings by $14.8M while 5 buyers added $4.5M, resulting in a net institutional outflow of approximately $10.3M
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound or reversed since quarter-end
- The buying cluster is dominated by smaller asset managers with low conviction (small dollar adds), while the selling comes from larger, more informed managers
- No insider buying to confirm institutional thesis; recent insider selling adds to caution
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-HTH-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | 8-K | $36.36 $36.57 | ▼ −0.58% | ▲ +0.13% | — |
Oct 22, 2026 5d ago | 8-K | $36.36 $36.57 | ▼ −0.58% | ▲ +0.13% | — |
Oct 16, 2026 11d ago | SC 13D/A | $36.26 $36.71 | ▼ −1.24% | ▼ −0.91% | — |
Oct 1, 2026 26d ago | SC 13D/A | $38.45 $38.15 | ▼ −0.78% | ▼ −1.45% | — |
Aug 12, 2026 10w ago | Institutional Cluster | $39.36 $39.79 | ▼ −1.09% | ▼ −0.39% | — |
Jun 29, 2026 17w ago | Court Ruling | $38.78 $39.37 | ▲ +1.52% | ▲ +1.66% | — |
Apr 30, 2026 25w ago | DEFA14A | $37.83 $37.20 | ▼ −1.66% | ▼ −1.32% | — |
Apr 23, 2026 26w ago | 8-K | $36.46 $36.80 | ▲ +0.94% | ▲ +0.77% | — |
US Market Status
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