The mixed cluster suggests post-earnings divergence: some funds are adding on strong Q2 results while others trim. Monitor for further insider buying (current confluence score 11/100, divergent) and next 10-Q for sustained demand trends.
Executive Summary
Lindblad Expeditions (LIND) saw mixed institutional activity in Q2 2026, with 4 buyers adding $5.2M in new holdings (led by Citigroup doubling its position to $5.2M) and 2 sellers trimming shares (Bank of New York Mellon reducing by 28.9% of shares, though its remaining position value rose to $19.4M on price appreciation). The cluster follows a strong Q2 earnings report (revenue +19% YoY, raised guidance) filed 6 days ago, suggesting some institutions are accumulating on the momentum while others take partial profits.
Key Financial Metrics
Institutional Positions
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Farther Finance Advisors | ADD | +65.7% | $10.0K | $6.0K |
| Police & Firemen's Retirement System Of New | ADD | +42.3% | $417.0K | $237.0K |
| Citigroup | DOUBLED | +771.9% | $5.2M | $4.8M |
| Arizona State Retirement System | ADD | +26.8% | $381.0K | $197.0K |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Bank Of New York Mellon | TRIM | -28.9% | $16.7M | $2.7M |
| Fifth Third Bancorp | TRIM | -31.2% | $650.0K | $80.0K |
Key Facts
- 4 institutional buyers added $5.2M in net position value; 2 sellers trimmed but saw their remaining holdings increase $2.8M in value due to stock price appreciation
- Citigroup doubled its stake (+771.9% shares) to $5.2M, the largest buyer
- Bank of New York Mellon trimmed 28.9% of shares (278K shares) but its position value increased from $16.7M to $19.4M
- Q2 2026 earnings (8-K filed Aug 3) showed revenue of $199.2M (+19% YoY) and raised full-year guidance to $830-$860M
Financial Impact
4 institutions added $5.2M in new holdings while 2 institutions trimmed positions; their remaining holdings increased $2.8M in value due to stock price appreciation. Net change in position values across all tracked institutions: +$8.0M.
Risk Factors
- 13F data is 45+ days old; positions may have been unwound since quarter-end
- Sellers include a large custodian (BNY Mellon) which may reflect passive rebalancing rather than active conviction
- Stock has rallied significantly (implied by value increases despite share trims), increasing risk of mean reversion
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-LIND-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 5w ago | 8-K | $26.09 $27.24 | ▲ +4.41% | ▲ +4.08% | — |
Aug 9, 2026 11w ago | Institutional Cluster | $33.04 $32.84 | ▼ −0.61% | ▼ −0.29% | — |
Aug 3, 2026 12w ago | 8-K | $33.12 $34.09 | ▲ +2.93% | ▲ +1.13% | — |
May 29, 2026 21w ago | 144 | $22.96 $22.70 | ▼ −1.13% | ▼ −1.28% | — |
May 29, 2026 21w ago | 144 | $22.96 $22.70 | ▼ −1.13% | ▼ −1.28% | — |
May 22, 2026 22w ago | Insider Cluster | $21.37 $22.57 | ▲ +5.62% | ▲ +5.60% | — |
May 15, 2026 23w ago | Insider Cluster | $19.16 $18.46 | ▼ −3.65% | ▼ −3.00% | — |
May 11, 2026 24w ago | 144 | $19.02 $19.02 | · 0.00% | ▼ −0.54% | — |
May 11, 2026 24w ago | Insider Cluster | $19.48 $19.02 | ▼ −2.36% | ▼ −2.22% | — |
May 8, 2026 24w ago | 144 | $19.48 $19.02 | ▼ −2.36% | ▼ −2.22% | — |
US Market Status
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