The cluster reveals opposing views: active managers accumulating while Citadel and Tudor reduce. Given the 45-day disclosure lag and poor historical accuracy of cluster signals on ZWS, traders should treat this as a neutral data point and wait for a fundamental catalyst (e.g., earnings or guidance change) before acting. The divergence could resolve either way—monitor next 10-Q for direction.
Executive Summary
An institutional cluster for ZWS (Zurn Elkay Water Solutions) shows net buying of ~$25.5M in Q3 2024, driven by 13 active asset managers (Ameriprise, Neuberger Berman, Rhumbline, Prudential, etc.) adding $42M, while 8 sellers including Citadel and Tudor reduced $16.5M. The mixed conviction and poor historical cluster signal performance on ZWS (25% win rate, -2.63% avg T+20) warrant caution despite the divergence between active buyers and quant/hedge fund sellers.
Key Financial Metrics
Institutional Positions
Net institutional flow: $25.5M
▲ Buyers (13)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Ameriprise Financial | ADD | +59.1% | $22.3M | $10.9M |
| Rhumbline Advisers | ADD | +73% | $15.8M | $8.3M |
| Fort Washington Investment Adv | ADD | +31.6% | $20.1M | $7.6M |
| Prudential Financial | DOUBLED | +510.5% | $5.7M | $5.0M |
▼ Sellers (8)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Citadel | NEAR_EXIT | -84.4% | $8.1M | -$6.6M |
| Tudor Investment Corp Et Al | TRIM | -51.6% | $11.1M | -$4.5M |
| Victory Capital Management | TRIM | -32.6% | $21.2M | -$3.7M |
Key Facts
- 13 institutional buyers added $42.0M in new positions; 8 sellers reduced holdings by $16.5M, resulting in ~$25.5M net buying.
- Largest buyers: Ameriprise Financial (+$10.9M, ADD), Rhumbline Advisers (+$8.3M, ADD), Fort Washington (+$7.6M, ADD), Prudential Financial (+$5.0M, DOUBLED).
- Largest sellers: Citadel (NEAR_EXIT, -$6.6M), Tudor Investment Corp (TRIM, -$4.5M), Victory Capital (TRIM, -$3.7M).
- All buyers are active asset managers; sellers include a quant fund (Citadel) and active managers, meaning no passive rebalancing distortion.
- Historical cluster calls on ZWS have a 25% win rate at T+20 with -2.63% avg return, suggesting directional signals have underperformed.
- Cross-filing amplifier (inst-earnings + inst-offering context) is statistically significant, but past over-scoring cautions against aggressive interpretation.
Financial Impact
Net institutional buying of ~$25.5 million in Q3 2024, with $42.0 million in new buying versus $16.5 million in selling.
Risk Factors
- Historical cluster signals on ZWS have underperformed (25% win rate, -2.63% avg T+20), increasing the chance this signal is misleading.
- Mixed conviction with significant selling from sophisticated funds (Citadel, Tudor) undermines the bullish read from active managers.
- 45-day reporting lag means these positions may already be unwound; stale data reduces signal reliability.
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-ZWS-2024-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 20, 2026 10w ago | 8-K | $47.80 $50.31 | ▲ +5.25% | ▲ +1.13% | — |
Jun 11, 2026 16w ago | Institutional Cluster | $48.39 $47.35 | ▼ −2.15% | ▼ −3.93% | — |
May 27, 2026 18w ago | 8-K | $47.01 $50.87 | ▲ +8.21% | ▲ +11.36% | — |
May 1, 2026 22w ago | 8-K | $50.30 $46.72 | ▼ −7.12% | ▼ −12.76% | — |
Apr 21, 2026 23w ago | 8-K | $52.48 $46.37 | ▼ −11.64% | ▼ −14.81% | — |
US Market Status
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