We are live on ! Find out more
IIIV icon

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
CIAM
151
Caitong International Asset Management
Hong Kong
$55 +$50 +2 New
Ameriprise
152
Ameriprise
Minnesota
-$8.38M -339,681 Closed
Marshall Wace
153
Marshall Wace
United Kingdom
-$8.21M -332,828 Closed
ACA
154
AYAL Capital Advisors
Ontario, Canada
-$6.01M -243,707 Closed
KLP
155
Kent Lake PR
Puerto Rico
-$5.91M -239,642 Closed
HFA
156
Harbert Fund Advisors
Alabama
-$1.94M -78,597 Closed
Mariner
157
Mariner
Kansas
-$1.74M -70,433 Closed
DFCM
158
Dark Forest Capital Management
Puerto Rico
-$1.09M -44,353 Closed
Man Group
159
Man Group
United Kingdom
-$889K -36,020 Closed
Millennium Management
160
Millennium Management
New York
-$840K -34,041 Closed
Arrowstreet Capital
161
Arrowstreet Capital
Massachusetts
-$593K -24,019 Closed
TGAM
162
TBH Global Asset Management
Tennessee
-$576K -23,339 Closed
D.E. Shaw & Co
163
D.E. Shaw & Co
New York
-$516K -20,897 Closed
SO
164
STRS Ohio
Ohio
-$410K -16,600 Closed
KI
165
Kapitalo Investimentos
Brazil
-$293K -11,873 Closed
CF
166
Corebridge Financial
Texas
-$275K -11,156 Closed
SG Americas Securities
167
SG Americas Securities
New York
-$256K -10,392 Closed
AQR Capital Management
168
AQR Capital Management
Connecticut
-$209K -8,467 Closed
MAM
169
Meeder Asset Management
Ohio
-$151K -6,122 Closed
Simplex Trading
170
Simplex Trading
Illinois
-$108K -4,289 Closed
JFGIW
171
Johnson Financial Group Inc (Wisconsin)
Wisconsin
-$71.8K -2,912 Closed
QCG
172
Quadrant Capital Group
Ohio
-$6.66K -270 Closed
MG
173
Mather Group
Illinois
-$5.92K -240 Closed
New York State Teachers Retirement System (NYSTRS)
174
New York State Teachers Retirement System (NYSTRS)
New York
-$2K -100 Closed
FHA
175
First Horizon Advisors
Tennessee
-$1.95K -79 Closed

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.