AMRX Amneal Pharmaceuticals, Inc.
Executive Summary
Two mega-passives (Morgan Stanley, Invesco) and two quants (D.E. Shaw, Two Sigma) added $31M in AMRX during Q3, while two asset managers (RenTech, UBS) cut $4M. The buying is broadening but dominated by index-trackers, and the T+20 calibration for this filing-type shows negative expected alpha across scores 6-9 — the cluster is real but the track record on this name is poor (20% win rate).
Key Financial Metrics
Institutional Positions
Net institutional flow: $27.0M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Morgan Stanley | ADD | +40.3% | $35.1M | $14.9M |
| D.E. Shaw | ADD | +69.5% | $15.7M | $8.2M |
| Invesco | ADD | +43.5% | $16.9M | $7.4M |
| Two Sigma | DOUBLED | +291.9% | $696.0K | $552.0K |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| RenTech | NEAR_EXIT | -79% | $3.5M | -$2.6M |
| Ubs Am, A Distinct Business Un | TRIM | -50.3% | $3.8M | -$1.5M |
Actionable Insight
The cluster shows a net buying bias but the buying is dominated by passive rebalancing, not active conviction. RenTech's near-exit and AMRX's very poor T+20 model calibration (20% win rate, negative net alpha across all directional scores) argue against reading this as a bullish catalyst. Watch for a 2025-Q4 13F update to see if passive adds reverse; if active names join on the buy side, the signal strengthens.
Key Facts
- 4 buyers added $31.0M in aggregate; 2 sellers trimmed $4.0M — net buying bias but not overwhelming
- Morgan Stanley became the largest disclosed owner in the cluster at $35.1M (+40.3% shares, +$14.9M)
- Two Sigma nearly quadrupled a tiny position (+291.9%, to $696K) — a new stake exploration, not conviction
- RenTech exited 79% of its AMRX position (current $900K, down from $3.5M) — a signal of skepticism
- Active manager weight is low (UBS trim, RenTech near-exit); the buying side is almost entirely passive/quant
- Historical win rate on AMRX calls is 20% at T+20; score 6-9 cells all show negative net alpha in the calibration data
Financial Impact
4 institutions accumulated $31.0M in new AMRX positions while 2 institutions reduced holdings by $4.0M, net institutional accumulation of approximately $27M for the quarter
Risk Factors
- 45-day reporting lag means these Q3 positions may have been unwound in Q4
- Buying dominated by passive/quant funds with no active value or activist manager following up
- Model calibration shows average T+20 alpha of -1.13% on this filing-type × cap-bucket segment
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-AMRX-2025-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 11, 2026
1d ago
|
Institutional Cluster
| $15.72 awaiting T+20 | awaiting T+20 | — | — |
|
May 7, 2026
5w ago
|
Press Release
| $13.20 $13.75 | ▲ +4.17% | ▲ +4.14% | — |
|
Apr 22, 2026
7w ago
|
Press Release
| $12.82 $11.81 | ▼ −7.88% | ▼ −11.04% | — |
|
Apr 7, 2026
9w ago
|
Press Release
| $12.71 $13.41 | ▲ +5.51% | ▼ −3.04% | — |
|
Mar 25, 2026
11w ago
|
DEFA14A
| $12.06 $12.52 | ▲ +3.81% | ▼ −6.85% | — |
|
Feb 27, 2026
15w ago
|
8-K
| $13.81 $11.85 | ▼ −14.19% | ▼ −6.64% | — |
US Market Status
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