The divergence between active buyers and passive sellers suggests a potential information edge held by active managers. Monitor for a catalyst (earnings, guidance raise, or strategic action) that active funds may anticipate. The passive selling may represent rebalancing away from a prior overweight, not a fundamental negative view, so the active buyer cluster may eventually drive upside. Watch for further 13F filings in Q4 to confirm persistence of buying.
Executive Summary
A mixed institutional cluster in Everpure (P) for Q3 2024 shows 24 buyers adding $143.1M in net position value (dominated by active asset managers like Franklin Resources +$84.8M, Citadel +$37.8M, Neuberger Berman +$11.6M) against 34 sellers reducing by $254.4M (led by large passive fund rebalancing at Invesco -$129M, Schwab -$69M, Janus Henderson -$42M). The aggregate net of -$111.3M reflects passive index-driven trimming rather than a coordinated bearish thesis, while the active buyer cluster suggests selective conviction in Everpure's underlying story.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$111.3M
▲ Buyers (24)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Citadel | DOUBLED | +256.8% | $58.9M | $37.8M |
| Franklin Resources | DOUBLED | +210.2% | $137.6M | $84.8M |
| Neuberger Berman Group | ADD | +75.4% | $42.6M | $11.6M |
| Glenmede Trust Co Na | ADD | +38.6% | $34.3M | $2.7M |
| Verition Fund Management | DOUBLED | +210.4% | $4.4M | $2.6M |
▼ Sellers (34)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Invesco | TRIM | -26.2% | $305.0M | -$129.0M |
| Schwab | TRIM | -38% | $134.0M | -$69.0M |
| Janus Henderson Group | TRIM | -44.9% | $74.6M | -$42.4M |
| Nisa Investment Advisors | NEAR_EXIT | -98% | $1.8M | -$1.7M |
| Fil | NEAR_EXIT | -98.8% | $7.4M | -$7.3M |
Key Facts
- 24 institutions increased positions with total net buying of $143.1M
- 34 institutions reduced positions with total net selling of $254.4M
- Aggregate net institutional flow is negative at -$111.3M
- Leading buyer Franklin Resources DOUBLED its position, adding $84.8M in value
- Quant fund Citadel DOUBLED, adding $37.8M in value
- Top sellers were dominated by large passive managers: Invesco -$129M, Schwab -$69M, Janus Henderson -$42M
- Two asset managers (Nisa, Fil) executed near-full exits (98%+ trim)
- Active managers net bought while mega-passive funds net sold, suggesting a non-consensus bullish active thesis
Financial Impact
Aggregate $397.5M in directional position adjustments: $143.1M in buying vs $254.4M in selling, yielding a net reduction of approximately $111.3M
Risk Factors
- 13F data is 45+ days stale; positions may already be unwound or reversed since quarter end
- The $111.3M net selling aggregate could reflect broader de-risking by passive funds that overwhelms active conviction
- Only 24 of 58 tracked institutions were net buyers, showing limited breadth in the bullish thesis
- No explicit catalyst identified in this cluster data alone
Market Snapshot
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-P-2024-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 17d ago | Insider Cluster | $96.97 $110.89 | ▲ +14.36% | ▲ +12.23% | — |
Aug 26, 2026 5w ago | Press Release | $99.24 $98.15 | ▼ −1.10% | ▼ −1.37% | — |
Aug 17, 2026 6w ago | Insider Cluster | $116.99 $100.44 | ▼ −14.15% | ▼ −12.96% | — |
Aug 13, 2026 7w ago | Insider Cluster | $117.35 $109.98 | ▼ −6.28% | ▼ −4.32% | — |
Aug 12, 2026 7w ago | Insider Cluster | $117.35 $109.98 | ▲ +6.28% | ▲ +4.32% | — |
Aug 10, 2026 7w ago | 144 | $109.38 $117.06 | ▲ +7.02% | ▲ +7.42% | — |
Jul 14, 2026 11w ago | Insider Cluster | $77.03 $69.93 | ▼ −9.22% | ▼ −7.92% | — |
Jul 13, 2026 11w ago | Insider Cluster | $77.03 $69.93 | ▼ −9.22% | ▼ −7.92% | — |
Jul 9, 2026 12w ago | 144 | $79.33 $68.37 | ▼ −13.82% | ▼ −13.26% | — |
Jul 2, 2026 13w ago | Insider Cluster | $72.71 $80.96 | ▲ +11.35% | ▲ +10.42% | — |
US Market Status
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