The strong institutional distribution in TGNA suggests waning conviction among major funds. Traders should monitor for further selling pressure and any company-specific catalysts that could reverse sentiment. The 13F filing lag means these positions may already be stale, but the pattern warrants caution on near-term price action.
Executive Summary
In Q3 2024, TGNA experienced a significant institutional distribution: 24 institutions reduced holdings (net selling of ~$48.4M) versus 17 institutions adding (net buying of ~$12.2M). Notable full exits by Citadel ($24.2M) and CalPERS ($15.1M) drove the net outflow of ~$36.2M, while buying was concentrated in smaller asset managers. This suggests a bearish shift in institutional conviction.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$36.2M
▲ Buyers (17)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Ameriprise Financial | ADD | +57.2% | $7.9M | $3.4M |
| Prudential Financial | ADD | +64.6% | $5.9M | $2.7M |
| Clark Capital Management Group | ADD | +86% | $4.8M | $2.5M |
| Russell Investments Group | DOUBLED | +318.8% | $2.2M | $1.7M |
| Agf Management | ADD | +35.2% | $3.4M | $1.2M |
▼ Sellers (24)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Citadel | EXIT | -100% | $24.2M | -$24.2M |
| California Public Employees Re | EXIT | -100% | $15.1M | -$15.1M |
| Norges Bank | TRIM | -34.8% | $18.0M | -$4.7M |
| Alliancebernstein | TRIM | -47.5% | $5.3M | -$2.1M |
| Metlife Investment Management | TRIM | -48.7% | $2.6M | -$1.1M |
| Neuberger Berman Group | TRIM | -72.8% | $1.1M | -$744.0K |
Key Facts
- 24 institutional sellers vs 17 institutional buyers in Q3 2024
- Net institutional selling of approximately $36.2M
- Citadel fully exited a $24.2M position (100% reduction)
- CalPERS fully exited a $15.1M position (100% reduction)
- Norges Bank trimmed 34.8% of its $18.0M position, reducing value by $4.7M
- AllianceBernstein trimmed 47.5% of its $5.3M position, reducing value by $2.1M
- Buyers were smaller asset managers; largest adds: Ameriprise ($3.4M), Prudential ($2.7M), Clark Capital ($2.5M)
Financial Impact
Total net selling of $36.2M across 24 institutions, led by full exits by Citadel ($24.2M) and CalPERS ($15.1M). Buying totaled $12.2M from 17 smaller funds.
Risk Factors
- Cluster data is from Q3 2024 (45-day filing lag); positions may have been unwound or reversed
- Passive rebalancing could explain some selling, though active managers dominate the sell side
- Buyers, though smaller, could accumulate if fundamentals improve
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-TGNA-2024-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 11, 2026 19w ago | Institutional Cluster | — | awaiting T+5 | — | — |
Jun 11, 2026 19w ago | Institutional Cluster | — | awaiting T+5 | — | — |
Jun 1, 2026 21w ago | Press Release | — | awaiting T+5 | — | — |
Apr 8, 2026 28w ago | 15-12G | — | awaiting T+5 | — | — |
Mar 24, 2026 31w ago | EFFECT | $20.03 | awaiting T+5 | — | — |
Mar 2, 2026 34w ago | Press Release | $20.74 $20.79 | ▼ −0.24% | ▼ −1.45% | — |
US Market Status
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