The mixed cluster with quant buying and asset-manager trimming suggests no strong consensus. Given quant inflows are a 45-day-old snapshot, monitor next 13F for whether Citadel/D.E. Shaw held or unwound. The asset-manager exodus (especially Invesco trimming -66.8%) is a caution signal for long-term holders.
Executive Summary
VREX's Q3 2024 institutional cluster shows a split pattern: two quant shops (Citadel and D.E. Shaw) aggressively doubled positions, accumulating $6.0M net, while four asset managers trimmed, shedding $5.7M net. The mixed net direction and heavy quantization of buying versus active-manager selling suggest disagreement on near-term catalysts, not a consensus thesis. The cross-filing actuarial verdict flags an amplifier for inst-earnings-context + inst-offering-context combos, but no such cross-filings are present here — the standalone cluster signal is moderately bearish due to asset-manager flight.
Key Financial Metrics
Institutional Positions
Net institutional flow: $300.0K
▲ Buyers (2)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Citadel | DOUBLED | +169.3% | $4.9M | $2.7M |
| D.E. Shaw | DOUBLED | +353.1% | $4.5M | $3.3M |
▼ Sellers (4)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Invesco | TRIM | -66.8% | $5.0M | -$3.7M |
| Legal & General Group | TRIM | -59.8% | $1.6M | -$1.1M |
| Ameriprise Financial | TRIM | -36.9% | $1.7M | -$851.3K |
| Amundi | TRIM | -70.5% | $115.0K | -$88.7K |
Key Facts
- 2 quant funds (Citadel, D.E. Shaw) doubled VREX holdings in Q3 2024, adding net $6.0M to position values of $9.4M
- 4 asset managers (Invesco, Legal & General, Ameriprise, Amundi) trimmed positions, selling net $5.7M (weighted average trim ~58%)
- Total institutional buying: $6.0M; total institutional selling: $5.7M — net slightly positive at ~$0.3M
- All selling was by active/passive asset managers; all buying was by quantitative hedge funds
Financial Impact
Net institutional flow was essentially flat at +$0.3M. Quant buyers added $6.0M into positions worth $9.4M; asset managers reduced by $5.7M from prior holdings of $8.4M.
Risk Factors
- Asset-manager selling could reflect fundamental concerns not yet priced
- Quant positions may have been unwound since quarter-end (45-day reporting lag)
- Low aggregate dollar amounts ($9.4M total) limit signal strength
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-VREX-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | Insider Cluster | $18.47 $18.49 | ▼ −0.11% | ▲ +0.71% | — |
Sep 14, 2026 18d ago | 144 | $18.46 $18.47 | ▲ +0.05% | ▼ −1.60% | — |
Sep 11, 2026 20d ago | 144 | $18.46 $18.47 | ▼ −0.05% | ▲ +1.60% | — |
Aug 10, 2026 7w ago | DEFA14A | $18.58 $18.46 | ▼ −0.65% | ▼ −0.24% | — |
Aug 10, 2026 7w ago | DEFA14A | $18.58 $18.46 | ▼ −0.65% | ▼ −0.24% | — |
Aug 10, 2026 7w ago | 8-K / DEFA14A | $18.58 $18.46 | ▼ −0.65% | ▼ −0.24% | — |
Aug 10, 2026 7w ago | 8-K | $18.46 $18.46 | · 0.00% | ▲ +0.05% | — |
Jun 11, 2026 16w ago | Institutional Cluster | $11.04 $10.53 | ▼ −4.62% | ▼ −5.29% | — |
US Market Status
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