TLS TELOS CORP
Executive Summary
Significant net institutional selling in TLS during 2024-Q3, with 5 funds reducing holdings by $4.11M vs 4 buyers adding $453K. The selling is concentrated in near-exits by Federated Hermes, Citadel, and Legal & General, while Dimensional Fund Advisors made a modest addition. This divergence between active manager selling and analyst bullishness (70% buy ratings) signals potential fundamental concerns.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$3.7M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Dimensional Fund Advisors | ADD | +26.6% | $3.5M | $408.0K |
| Metlife Investment Management | ADD | +81.5% | $98.0K | $37.0K |
| Alliancebernstein | ADD | +25.8% | $64.0K | $7.0K |
| Exoduspoint Capital Management | DOUBLED | +527.2% | $647.00 | $531.00 |
▼ Sellers (5)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Federated Hermes | NEAR_EXIT | -88.1% | $2.0M | -$1.8M |
| Citadel | NEAR_EXIT | -94.7% | $1.7M | -$1.6M |
| Fuller & Thaler Asset Management | TRIM | -52.5% | $701.0K | -$403.7K |
| Legal & General Group | NEAR_EXIT | -91.8% | $238.0K | -$220.4K |
| Invesco | TRIM | -43.7% | $174.0K | -$86.5K |
Actionable Insight
Net selling of $4.1M by prominent active managers (Federated Hermes, Citadel, Fuller & Thaler) suggests fading conviction in TLS ahead of upcoming quarterly results. Monitor earnings for fundamental deterioration; the 13F data is as of Q3 2024, so some selling may have already been executed. The contrarian risk is notable given prior neutral calls on TLS showed positive T+20 returns.
Key Facts
- 5 sellers reduced holdings by $4.11M; 4 buyers added $453K (net -$3.66M)
- Federated Hermes sold 88% of its position (from $2.0M to $215K)
- Citadel sold 95% of its position (from $1.7M to $79K)
- Fuller & Thaler trimmed 52.5% of its position (from $701K to $297K)
- Dimensional Fund Advisors added 26.6% ($3.1M to $3.5M) — the largest buyer by dollar value
Financial Impact
Aggregate institutional selling of $4.11M from 5 funds, concentrated in near-exits by Federated Hermes ($1.8M sold) and Citadel ($1.6M sold). Net negative $3.66M across the cluster.
Risk Factors
- 13F data has 45-day reporting lag — positions may have changed since September 30, 2024
- Small absolute dollar values ($3.7M total buyer holdings) limit statistical significance
- Contrarian: past neutral calls on TLS all produced positive T+20 returns (100% win rate in sample)
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-TLS-2024-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 12, 2026
2d ago
|
Institutional Cluster
| $4.58 awaiting T+5 | awaiting T+5 | — | — |
|
Jun 11, 2026
3d ago
|
Institutional Cluster
| $4.56 awaiting T+5 | awaiting T+5 | — | — |
|
May 11, 2026
4w ago
|
8-K
| $4.25 $4.30 | ▲ +1.18% | ▲ +1.26% | — |
|
Apr 27, 2026
6w ago
|
Press Release
| $4.40 $4.37 | ▼ −0.68% | ▼ −1.08% | — |
|
Mar 27, 2026
11w ago
|
DEFA14A
| $4.09 $4.25 | ▲ +3.91% | ▼ −0.39% | — |
|
Mar 18, 2026
12w ago
|
Insider Cluster
| $4.02 $4.41 | ▲ +9.70% | ▲ +10.42% | — |
|
Mar 16, 2026
12w ago
|
Press Release
| $4.12 $4.39 | ▲ +6.55% | ▲ +8.60% | — |
|
Mar 2, 2026
14w ago
|
Press Release
| $4.03 $4.36 | ▲ +8.19% | ▲ +9.40% | — |
US Market Status
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