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NiSource
NI

795 hedge funds and large institutions have $17.7B invested in NiSource in 2025 Q1 according to their latest regulatory filings, with 129 funds opening new positions, 297 increasing their positions, 240 reducing their positions, and 58 closing their positions.

New
Increased
Maintained
Reduced
Closed

122% more first-time investments, than exits

New positions opened: 129 | Existing positions closed: 58

24% more repeat investments, than reductions

Existing positions increased: 297 | Existing positions reduced: 240

14% more funds holding in top 10

Funds holding in top 10: 7 → 8 (+1)

8% more funds holding

Funds holding: 734 → 795 (+61)

7% more capital invested

Capital invested by funds: $16.5B → $17.7B (+$1.22B)

2.11% less ownership

Funds ownership: 96.15% → 94.05% (-2.1%)

35% less call options, than puts

Call options by funds: $10.4M | Put options by funds: $16M

Holders
795
Holders Change
+61
Holders Change %
+8.31%
% of All Funds
10.66%
Holding in Top 10
8
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+14.29%
% of All Funds
0.11%
New
129
Increased
297
Reduced
240
Closed
58
Calls
$10.4M
Puts
$16M
Net Calls
-$5.59M
Net Calls Change
-$15.5M

Top Buyers

1
Bank of Montreal
Bank of Montreal
Ontario, Canada
+$129M
2
Vanguard Group
Vanguard Group
Pennsylvania
+$118M
3
T. Rowe Price Investment Management
T. Rowe Price Investment Management
Maryland
+$102M
4
Goldman Sachs
Goldman Sachs
New York
+$100M
5
Alkeon Capital Management
Alkeon Capital Management
New York
+$94.8M

Top Sellers

1
Millennium Management
Millennium Management
New York
-$300M
2
JP Morgan Chase
JP Morgan Chase
New York
-$156M
3
ECM
ExodusPoint Capital Management
New York
-$99.1M
4
BlackRock
BlackRock
New York
-$90.7M
5
Deutsche Bank
Deutsche Bank
Germany
-$85.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
CAG
426
Csenge Advisory Group
Florida
$661K +$231 +6 +0%
HB
427
Horizon Bancorp
Indiana
$649K – – –
AMI
428
Amica Mutual Insurance
Rhode Island
$645K -$166K -4,300 -21%
AAS
429
Annex Advisory Services
Wisconsin
$637K – – –
CWA
430
Centennial Wealth Advisory
Michigan
$628K -$149K -3,879 -20%
Lazard Asset Management
431
Lazard Asset Management
New York
$627K -$329K -8,532 -35%
ET
432
Entropy Technologies
New York
$620K +$596K +15,476 New
KeyBank National Association
433
KeyBank National Association
Ohio
$616K +$7.55K +196 +1%
CIM
434
Contravisory Investment Management
Massachusetts
$614K -$2.85K -74 -0.5%
FRM
435
Fox Run Management
Connecticut
$602K +$578K +15,011 New
AI
436
Atria Investments
North Carolina
$601K -$143K -3,700 -20%
NMIMC
437
Northwestern Mutual Investment Management Company
Wisconsin
$599K +$4.89K +127 +0.9%
Nomura Holdings
438
Nomura Holdings
Japan
$595K -$20.7K -537 -3%
ABLA
439
Alan B. Lancz & Associates
Ohio
$592K – – –
EF
440
Empirical Finance
Pennsylvania
$578K +$25.4K +660 +5%
MM
441
MQS Management
New York
$578K +$555K +14,406 New
CB
442
Commerce Bank
Missouri
$573K +$126K +3,279 +30%
CG
443
Caprock Group
Idaho
$568K -$437K -11,347 -44%
GIA
444
Gladstone Institutional Advisory
Florida
$567K -$2.12K -55 -0.4%
IWC
445
Integrated Wealth Concepts
Massachusetts
$565K +$4.2K +109 +0.8%
KB
446
Kimelman & Baird
New York
$559K – – –
AIM
447
Achmea Investment Management
Netherlands
$558K +$537K +13,929 New
MOS
448
MGO One Seven
Ohio
$554K +$14.4K +375 +3%
SC
449
Savant Capital
Illinois
$549K -$1.58M -41,018 -75%
FCM
450
Frontier Capital Management
Massachusetts
$548K +$7.17K +186 +1%
16 17
18
19 20

NI Hedge Fund Activity: Q1 2025 in Review

795 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in NiSource (NI) for Q1 2025, worth a combined $17.7B — up 7.4% from $16.5B a quarter earlier.

Buyers outnumbered sellers: 129 funds opened new NI positions and 58 closed out — a net gain of 71 holders — while 297 added to existing stakes and 240 trimmed.

The largest buyer was Bank of Montreal, adding an estimated $129M. The largest seller was Millennium Management, cutting an estimated $300M.

  • 795 institutional investors held NiSource (NI) as of Q1 2025, up from 734 in Q4 2024.
  • Funds reported $17.7B of NiSource stock for Q1 2025, up 7.4% quarter-over-quarter.
  • 129 funds opened new NiSource positions in Q1 2025 and 58 closed out, a net change of +71 holders.
  • The largest NiSource buyer in Q1 2025 was Bank of Montreal, an estimated $129M added.
  • The largest NiSource seller in Q1 2025 was Millennium Management, an estimated $300M sold.

Based on aggregated 13F filings for Q1 2025.