ACADIA PHARMACEUTICALS INC

Burney Co. sold 50,921 shares of Acadia Pharmaceuticals this quarter, cutting its stake by 85% — from 59,970 shares down to just 9,049. It's the sharpest real retreat in the filing, worth roughly $1.29 million in genuine selling, and unlike the quarter's other big seller it isn't an index-linked fund: Burney is a discretionary manager that appears to have made an active decision to walk away from most of its position. Assenagon Asset Management, a fund 13F Insight classifies as quasi-passive, cut even harder in dollar terms — $1.44 million, a 73% reduction — though that move more likely reflects an index mandate change than a view on the stock. Against those two exits, buying was broad: Hennion & Walsh Asset Management, still the largest holder at 24.5% of the $10.7 million in institutional value 13F Insight can see, added modestly (up 2.5%), and Gradient Investments, Diversified Trust Co and Empirical Wealth Management all built more meaningfully (up 13.3%, 3%, and nearly 20% respectively). First Citizens Bank & Trust opened the quarter's largest new position at $619,394, one of five new entrants.