i3 Verticals
IIIV
150 hedge funds and large institutions have $795M invested in i3 Verticals in 2025 Q2 according to their latest regulatory filings, with 25 funds opening new positions, 59 increasing their positions, 39 reducing their positions, and 27 closing their positions.
51% more repeat investments, than reductions
Existing positions increased: 59 | Existing positions reduced: 39
40% more capital invested
Capital invested by funds: $567M → $795M (+$228M)
13.54% more ownership
Funds ownership: 98.04% → 111.58% (+14%)
7% less first-time investments, than exits
New positions opened: 25 | Existing positions closed: 27
2% less funds holding
Funds holding: 153 → 150 (-3)
25% less funds holding in top 10
Funds holding in top 10: 4 → 3 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
+$69.4M |
| 2 |
Vanguard Group
Malvern,
Pennsylvania
|
+$13.9M |
| 3 |
Thrivent Financial for Lutherans
Minneapolis,
Minnesota
|
+$10.1M |
| 4 |
PAIM
Punch & Associates Investment Management
Edina,
Minnesota
|
+$7.83M |
| 5 |
WA
Wasatch Advisors
Salt Lake City,
Utah
|
+$7.55M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Ameriprise
Minneapolis,
Minnesota
|
-$8.38M |
| 2 |
Marshall Wace
London,
United Kingdom
|
-$8.21M |
| 3 |
ACA
AYAL Capital Advisors
Toronto,
Ontario, Canada
|
-$6.01M |
| 4 |
KLP
Kent Lake PR
Anasco,
Puerto Rico
|
-$5.91M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
-$3.49M |
IIIV Hedge Fund Activity: Q2 2025 in Review
150 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in i3 Verticals (IIIV) for Q2 2025, worth a combined $795M — up 40% from $567M a quarter earlier.
Sellers outnumbered buyers: 27 funds closed out of IIIV and 25 opened new positions — a net loss of 2 holders — while 39 trimmed existing stakes and 59 added.
The largest buyer was T. Rowe Price Investment Management, adding an estimated $69.4M. The largest seller was Ameriprise, exiting entirely with an estimated $8.38M sold.
- 150 institutional investors held i3 Verticals (IIIV) as of Q2 2025, down from 153 in Q1 2025.
- Funds reported $795M of i3 Verticals stock for Q2 2025, up 40% quarter-over-quarter.
- 25 funds opened new i3 Verticals positions in Q2 2025 and 27 closed out, a net change of -2 holders.
- The largest i3 Verticals buyer in Q2 2025 was T. Rowe Price Investment Management, an estimated $69.4M added.
- The largest i3 Verticals seller in Q2 2025 was Ameriprise, an estimated $8.38M sold.
Based on aggregated 13F filings for Q2 2025.