The cluster suggests growing institutional conviction, but the 45-day 13F filing lag means positions may have shifted. Monitor upcoming earnings or project announcements for a catalyst. Given historical T+20 underperformance on LGN long calls, consider waiting for price confirmation or a fresh catalyst before adding exposure.
Executive Summary
A strong institutional cluster shows 11 funds accumulating $154.2M net in LGN during Q2 2026, led by State Street (+$64.1M), Pictet (+$22.4M), Citigroup (+$22.3M), and Walleye Capital (new $15.3M stake), while 5 sellers trimmed $26.2M. The buying is dominated by active managers and includes a hedge fund new position, signaling growing conviction. However, historical model calls on LGN have underperformed (33% win rate T+20), suggesting caution on near-term price impact.
Key Financial Metrics
Institutional Positions
Net institutional flow: $154.2M
▲ Buyers (11)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| State Street | ADD | +57.7% | $110.5M | $64.1M |
| Pictet Asset Management Holding | DOUBLED | +112.1% | $32.5M | $22.4M |
| Citigroup | DOUBLED | +5969.7% | $22.5M | $22.3M |
| Walleye Capital | NEW | — | $15.3M | $15.3M |
| Russell Investments Group | DOUBLED | +129.5% | $17.7M | $12.6M |
| Bank Of New York Mellon | ADD | +58.7% | $15.3M | $8.9M |
▼ Sellers (5)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Massachusetts Financial Services | TRIM | -46.6% | $110.5M | -$21.4M |
| Mirae Asset Global Investments Co. | NEAR_EXIT | -78.5% | $5.3M | -$3.6M |
Key Facts
- 11 buying institutions added $154.2M in net new value, versus 5 sellers reducing $26.2M
- Top accumulators: State Street (+$64.1M, ADD), Pictet Asset Management (+$22.4M, DOUBLED), Citigroup (+$22.3M, DOUBLED), Walleye Capital ($15.3M, NEW)
- Massachusetts Financial Services was the largest seller, trimming $21.4M (46.6% reduction)
- Active managers dominate the buying; only State Street is a mega-passive fund
- Analyst consensus is 91% bullish (8 Strong Buy, 12 Buy, 2 Hold) on LGN
Financial Impact
Net institutional buying of $154.2M across 11 funds (approximately 2.2% of LGN's $7.0B market cap) partially offset by $26.2M in selling from 5 funds
Risk Factors
- 13F data is 45+ days stale; some positions may have already been changed
- Historical model reads on LGN have averaged -2.48% alpha vs SPY at T+20
- Large seller Massachusetts Financial Services may signal top-tier concerns
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-LGN-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 13, 2026 7w ago | 8-K | $63.24 $56.65 | ▼ −10.42% | ▼ −8.67% | — |
Aug 9, 2026 7w ago | Institutional Cluster | $64.16 $57.04 | ▼ −11.10% | ▼ −10.18% | — |
Jul 27, 2026 9w ago | Press Release | $67.63 $56.38 | ▼ −16.63% | ▼ −19.93% | — |
Jun 11, 2026 16w ago | 8-K | $86.00 $73.66 | ▼ −14.35% | ▼ −16.13% | — |
Jun 11, 2026 16w ago | Institutional Cluster | $85.12 $73.97 | ▼ −13.10% | ▼ −14.99% | — |
May 14, 2026 20w ago | 8-K | $89.00 $86.00 | ▼ −3.37% | ▼ −2.51% | — |
May 14, 2026 20w ago | Press Release | $89.00 $86.00 | ▼ −3.37% | ▼ −2.51% | — |
May 4, 2026 21w ago | Press Release | $91.41 $86.55 | ▼ −5.32% | ▼ −10.96% | — |
Apr 29, 2026 22w ago | DEFA14A | $80.74 $83.26 | ▲ +3.12% | ▼ −2.93% | — |
Apr 8, 2026 25w ago | 424B4 | $59.75 $102.27 | ▼ −71.16% | ▼ −63.60% | — |
US Market Status
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