i3 Verticals
IIIV
145 hedge funds and large institutions have $554M invested in i3 Verticals in 2026 Q1 according to their latest regulatory filings, with 23 funds opening new positions, 50 increasing their positions, 51 reducing their positions, and 29 closing their positions.
0.97% more ownership
Funds ownership: 111.08% → 112.05% (+0.97%)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
2% less repeat investments, than reductions
Existing positions increased: 50 | Existing positions reduced: 51
6% less funds holding
Funds holding: 155 → 145 (-10)
17% less capital invested
Capital invested by funds: $671M → $554M (-$117M)
21% less first-time investments, than exits
New positions opened: 23 | Existing positions closed: 29
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NRCM
North Reef Capital Management
Laguna Beach,
California
|
+$22.1M |
| 2 |
William Blair Investment Management
Chicago,
Illinois
|
+$18.4M |
| 3 |
First Eagle Investment Management
New York
|
+$8.89M |
| 4 |
PAIM
Punch & Associates Investment Management
Edina,
Minnesota
|
+$5.94M |
| 5 |
WA
Wasatch Advisors
Salt Lake City,
Utah
|
+$2.53M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
-$56.8M |
| 2 |
PCM
Portolan Capital Management
Boston,
Massachusetts
|
-$10.8M |
| 3 |
Loomis, Sayles & Company
Boston,
Massachusetts
|
-$6.76M |
| 4 |
LPP
Long Path Partners
Stamford,
Connecticut
|
-$6.37M |
| 5 |
Thrivent Financial for Lutherans
Minneapolis,
Minnesota
|
-$6.34M |
IIIV Hedge Fund Activity: Q1 2026 in Review
145 of the 8,187 institutional investors tracked by Wall St. Rank reported a position in i3 Verticals (IIIV) for Q1 2026, worth a combined $554M — down 17% from $671M a quarter earlier.
Sellers outnumbered buyers: 29 funds closed out of IIIV and 23 opened new positions — a net loss of 6 holders — while 51 trimmed existing stakes and 50 added.
The largest buyer was North Reef Capital Management, adding an estimated $22.1M. The largest seller was T. Rowe Price Investment Management, cutting an estimated $56.8M.
- 145 institutional investors held i3 Verticals (IIIV) as of Q1 2026, down from 155 in Q4 2025.
- Funds reported $554M of i3 Verticals stock for Q1 2026, down 17% quarter-over-quarter.
- 23 funds opened new i3 Verticals positions in Q1 2026 and 29 closed out, a net change of -6 holders.
- The largest i3 Verticals buyer in Q1 2026 was North Reef Capital Management, an estimated $22.1M added.
- The largest i3 Verticals seller in Q1 2026 was T. Rowe Price Investment Management, an estimated $56.8M sold.
Based on aggregated 13F filings for Q1 2026.