IVR Invesco Mortgage Capital Inc.
Executive Summary
Mixed institutional cluster for IVR in Q3 2025: two quant managers (Two Sigma, Citadel) took opposite sides while passive funds mostly trimmed. Net dollar flow was positive ($5.1M added vs $821K sold), but the largest seller (Citadel) exited 74% of its stake. No activist or value-fund participation—this is noise-level position management by multi-strat and passive houses.
Key Financial Metrics
Institutional Positions
Net institutional flow: $4.3M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Two Sigma | ADD | +66% | $7.7M | $2.9M |
| Morgan Stanley | ADD | +82.4% | $5.0M | $2.2M |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Citadel | TRIM | -73.7% | $657.0K | -$490.2K |
| BofA | TRIM | -60.1% | $515.0K | -$316.9K |
Actionable Insight
This cluster lacks conviction signals—no NEW positions or EXITS. Two Sigma's add and Citadel's trim offset each other as quant rebalancing. Without activist or value-fund involvement, the $4.3M net inflow is insufficient to drive a thesis. Monitor the next 13F for retained position sizes to see if the selling continues or reverses.
Key Facts
- 3 institutions added $12.7M in current holdings, net buying $5.1M
- 3 institutions reduced holdings by $821K in aggregate
- Two Sigma (quant) was the largest buyer, adding $2.9M (+66% shares)
- Citadel (quant) was the largest seller, trimming 74% of shares for a $490K reduction
- No activist, family office, or value-focused active manager participated; all moves are from quant and mega-passive firms
- IVR has $733M market cap with 8% analyst bullish consensus (6 Hold, 5 Sell)
Financial Impact
Net institutional inflow of ~$4.3M ($5.1M bought minus $821K sold) against a $733M market cap; net activity represents ~0.6% of float. No directional catalyst implied.
Risk Factors
- All participants are passive/quant; no fundamental conviction to anchor the positions
- Two Sigma's large add could unwind silently if the quant model flips
- IVR's analyst consensus is predominantly bearish (Sell recommendations outnumber Buy 5:1)
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-IVR-2025-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 12, 2026
today
|
8-K
| $7.93 awaiting T+5 | awaiting T+5 | — | — |
|
Jun 11, 2026
2d ago
|
Institutional Cluster
| $8.01 awaiting T+5 | awaiting T+5 | — | — |
|
May 14, 2026
29d ago
|
8-K
| $23.52 $23.75 | ▲ +1.00% | ▲ +0.04% | — |
|
Mar 20, 2026
12w ago
|
DEFA14A
| $7.41 $7.60 | ▲ +2.49% | ▲ +4.64% | — |
US Market Status
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