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i3 Verticals

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.

New
Increased
Maintained
Reduced
Closed

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: 153150 (-3)

25% less funds holding in top 10

Funds holding in top 10: 43 (-1)

Holders
150
Holders Change
-3
Holders Change %
-1.96%
% of All Funds
1.97%
Holding in Top 10
3
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-25%
% of All Funds
0.04%
New
25
Increased
59
Reduced
39
Closed
27
Calls
$3.67M
Puts
Net Calls
+$3.67M
Net Calls Change
+$2.76M
Name Holding Trade Value Shares
Change
Change in
Stake
DADC
101
D.A. Davidson & Co
Montana
$253K -$5.01K -200 -2%
AG
102
AlTi Global
New York
$240K
Manulife (Manufacturers Life Insurance)
103
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$237K +$10.1K +402 +5%
IB
104
Intrust Bank
Kansas
$237K +$216K +8,615 New
GJWM
105
Gilliland Jeter Wealth Management
Arkansas
$231K
Zurich Cantonal Bank
106
Zurich Cantonal Bank
Switzerland
$216K +$71.7K +2,859 +57%
EF
107
Empowered Funds
Pennsylvania
$210K +$192K +7,645 New
A
108
AlphaQuest
New York
$189K
Mitsubishi UFJ Asset Management
109
Mitsubishi UFJ Asset Management
Japan
$189K -$26.6K -1,060 -13%
CIBC Private Wealth Group
110
CIBC Private Wealth Group
Georgia
$140K +$7.65K +305 +6%
PFSRSONJ
111
Police & Firemen's Retirement System of New Jersey
New Jersey
$135K
PNC Financial Services Group
112
PNC Financial Services Group
Pennsylvania
$124K +$63.9K +2,547 +129%
KK
113
KLP Kapitalforvaltning
Norway
$118K
HAP
114
Harbor Asset Planning
Massachusetts
$110K +$100K +4,000 New
Group One Trading
115
Group One Trading
Illinois
$76.3K -$5.57K -222 -7%
AIP
116
Ameritas Investment Partners
Nebraska
$61.5K
TRCT
117
Tower Research Capital (TRC)
New York
$61K +$38.8K +1,547 +230%
BNP Paribas Financial Markets
118
BNP Paribas Financial Markets
France
$60.4K +$21.8K +870 +66%
SIC
119
Salem Investment Counselors
North Carolina
$53.6K
Fidelity Investments
120
Fidelity Investments
Massachusetts
$51.6K +$9.35K +373 +25%
SOW
121
State of Wyoming
Wyoming
$51.5K -$54.4K -2,168 -54%
SPIA
122
Steward Partners Investment Advisory
New York
$47K
Comerica Bank
123
Comerica Bank
Texas
$47K +$5.62K +224 +15%
NS
124
NBC Securities
Alabama
$28K -$2.26K -90 -8%
HNB
125
Huntington National Bank
Ohio
$26.6K -$2.81K -112 -10%

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.