NextDecade
NEXT
179 hedge funds and large institutions have $1.14B invested in NextDecade in 2025 Q2 according to their latest regulatory filings, with 22 funds opening new positions, 74 increasing their positions, 59 reducing their positions, and 26 closing their positions.
25% more repeat investments, than reductions
Existing positions increased: 74 | Existing positions reduced: 59
15% more capital invested
Capital invested by funds: $995M → $1.14B (+$149M)
14% more funds holding in top 10
Funds holding in top 10: 7 → 8 (+1)
0.13% more ownership
Funds ownership: 49.12% → 49.25% (+0.13%)
3% less call options, than puts
Call options by funds: $19.1M | Put options by funds: $19.6M
3% less funds holding
Funds holding: 184 → 179 (-5)
15% less first-time investments, than exits
New positions opened: 22 | Existing positions closed: 26
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
SIR Capital Management
New York
|
+$12.8M |
| 2 |
Adage Capital Partners
Boston,
Massachusetts
|
+$10.1M |
| 3 |
Point72 Asset Management
Stamford,
Connecticut
|
+$7.04M |
| 4 |
CCM
Cinctive Capital Management
New York
|
+$5.27M |
| 5 |
BlackRock
New York
|
+$4.69M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
VM
Valinor Management
New York
|
-$24.2M |
| 2 |
TCA
Tortoise Capital Advisors
Overland Park,
Kansas
|
-$13.6M |
| 3 |
Mirae Asset Global ETFs Holdings
Causeway Bay,
Hong Kong
|
-$6.26M |
| 4 |
Goldman Sachs
New York
|
-$5.69M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$4.32M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
201
Macquarie Group
Sydney, NSW 2000,
Australia
| – | -$2.86K | -368 | Closed |
|
202
Federated Hermes
Pittsburgh,
Pennsylvania
| – | -$716 | -92 | Closed |
|
|
RWM
203
Rialto Wealth Management
Syracuse,
New York
| – | -$428 | -55 | Closed |
|
|
SC
204
Stephens Consulting
Flint,
Michigan
| – | -$312 | -40 | Closed |
|
|
C
205
Covestor
London,
United Kingdom
| – | -$8 | -1 | -6% |
|
NEXT Hedge Fund Activity: Q2 2025 in Review
179 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in NextDecade (NEXT) for Q2 2025, worth a combined $1.14B — up 15% from $995M a quarter earlier.
Sellers outnumbered buyers: 26 funds closed out of NEXT and 22 opened new positions — a net loss of 4 holders — while 59 trimmed existing stakes and 74 added.
The largest buyer was SIR Capital Management, adding an estimated $12.8M. The largest seller was Valinor Management, cutting an estimated $24.2M.
- 179 institutional investors held NextDecade (NEXT) as of Q2 2025, down from 184 in Q1 2025.
- Funds reported $1.14B of NextDecade stock for Q2 2025, up 15% quarter-over-quarter.
- 22 funds opened new NextDecade positions in Q2 2025 and 26 closed out, a net change of -4 holders.
- The largest NextDecade buyer in Q2 2025 was SIR Capital Management, an estimated $12.8M added.
- The largest NextDecade seller in Q2 2025 was Valinor Management, an estimated $24.2M sold.
Based on aggregated 13F filings for Q2 2025.