The strong active-manager accumulation, especially by Rockefeller and Royce, suggests a shared catalyst thesis (possibly operating turnaround, earnings momentum, or sector tailwind). However, the 45-day 13F lag means these positions may already be stale. Monitor LMB for any fundamental announcements or insider buying that would confirm the thesis, and be aware that historical follow-through on prior cluster signals in this name has been poor.
Executive Summary
A bullish institutional cluster formed in LMB during 2024-Q3, with 10 net buyers adding a combined $31.8M in new capital against only 3 modest sellers. The move was led by a $11.6M new stake from Rockefeller Capital Management and $8.4M in further accumulation by Royce & Associates, indicating strong active-manager conviction in the company's turnaround story.
Key Financial Metrics
Institutional Positions
Net institutional flow: $31.8M
▲ Buyers (10)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Rockefeller Capital Management | NEW | +100% | $11.6M | $11.6M |
| Royce & Associates | ADD | +35.3% | $18.9M | $8.4M |
| Citadel Advisors | DOUBLED | +744.7% | $1.2M | $1.1M |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| First Trust Advisors | TRIM | -65.1% | $31.4M | -$16.9M |
Key Facts
- 10 institutional buyers added $31.8M net in Q3 2024; 3 sellers reduced by $17.1M
- Rockefeller Capital Management initiated a new $11.6M position; Royce & Associates added $8.4M to its existing stake
- Citadel (quant) more than doubled (+744.7%), and Envestnet (+296.5%) and Schwab (+186.1%) also made large increases
- Buyers hold $48.5M total vs sellers' reduced holdings of $15.6M (net cluster value ~$32.9M)
- Dominance of active asset managers (9 of 10 buyers) vs only one passive mega-fund (Schwab) increases signal quality
Financial Impact
10 institutions accumulated a net $31.8M in LMB during Q3 2024, while 3 institutions trimmed a combined $17.1M. Total cluster buying capital was $48.5M at quarter-end.
Risk Factors
- 13F data is 45+ days stale and positions may have been partially or fully exited since Q3 end
- First Trust's 65% trim ($16.9M reduction) is a large, opposing bet that may signal inside knowledge of a rotation or headwind
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-LMB-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 17, 2026 5w ago | Insider Cluster | $51.74 $51.48 | ▼ −0.50% | ▼ −1.77% | — |
Sep 16, 2026 5w ago | Insider Cluster | $50.05 $51.33 | ▲ +2.56% | ▲ +1.71% | — |
Sep 1, 2026 8w ago | 8-K | $44.79 $48.81 | ▲ +8.98% | ▲ +8.89% | — |
Jun 12, 2026 19w ago | Institutional Cluster | $79.09 $80.15 | ▲ +1.34% | ▲ +0.67% | — |
May 5, 2026 24w ago | 8-K | $76.97 $72.32 | ▼ −6.04% | ▼ −7.17% | — |
Apr 24, 2026 26w ago | 144 | $93.14 $102.29 | ▲ +9.82% | ▲ +9.42% | — |
Apr 8, 2026 28w ago | 144 | $84.40 $89.47 | ▲ +6.01% | ▲ +2.82% | — |
Mar 30, 2026 30w ago | Court Ruling | $78.05 $83.97 | ▲ +7.58% | ▲ +3.64% | — |
Mar 3, 2026 34w ago | 8-K | $87.53 $80.44 | ▼ −8.10% | ▼ −7.62% | — |
US Market Status
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