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NiSource
NI

784 hedge funds and large institutions have $19.3B invested in NiSource in 2025 Q3 according to their latest regulatory filings, with 99 funds opening new positions, 272 increasing their positions, 272 reducing their positions, and 77 closing their positions.

New
Increased
Maintained
Reduced
Closed

167% more funds holding in top 10

Funds holding in top 10: 3 → 8 (+5)

129% more call options, than puts

Call options by funds: $171M | Put options by funds: $74.4M

29% more first-time investments, than exits

New positions opened: 99 | Existing positions closed: 77

5% more capital invested

Capital invested by funds: $18.3B → $19.3B (+$973M)

1% more funds holding

Funds holding: 773 → 784 (+11)

0% more repeat investments, than reductions

Existing positions increased: 272 | Existing positions reduced: 272

1.87% less ownership

Funds ownership: 96.41% → 94.54% (-1.9%)

Holders
784
Holders Change
+11
Holders Change %
+1.42%
% of All Funds
10.29%
Holding in Top 10
8
Holding in Top 10 Change
+5
Holding in Top 10 Change %
+166.67%
% of All Funds
0.11%
New
99
Increased
272
Reduced
272
Closed
77
Calls
$171M
Puts
$74.4M
Net Calls
+$96.1M
Net Calls Change
+$102M

Top Buyers

Rank Fund Capital Flow
1
ZP
Zimmer Partners
New York
+$232M
2
Millennium Management
Millennium Management
New York
+$126M
3
T. Rowe Price Investment Management
T. Rowe Price Investment Management
Maryland
+$105M
4
AP
Antipodes Partners
Australia
+$80.4M
5
Balyasny Asset Management
Balyasny Asset Management
Illinois
+$67.3M

Top Sellers

Rank Fund Capital Flow
1
Bank of Montreal
Bank of Montreal
Ontario, Canada
-$112M
2
Jennison Associates
Jennison Associates
New York
-$91.4M
3
Deutsche Bank
Deutsche Bank
Germany
-$80.5M
4
Citadel Advisors
Citadel Advisors
Florida
-$63.8M
5
Cohen & Steers
Cohen & Steers
New York
-$62.2M
Name Holding Trade Value Shares
Change 		Change in
Stake
WLG
801
Williamson Legacy Group
Indiana
– -$1.2M -29,720 Closed
LCM
802
Landscape Capital Management
New Jersey
– -$1.14M -28,201 Closed
Axa
803
Axa
France
– -$1.05M -26,137 Closed
FC
804
FORA Capital
Florida
– -$1.05M -26,111 Closed
PAM
805
Panagora Asset Management
Massachusetts
– -$1.02M -25,301 Closed
VAS
806
Vestmark Advisory Solutions
Massachusetts
– -$994K -24,637 Closed
Allianz Asset Management
807
Allianz Asset Management
Germany
– -$976K -24,205 Closed
HP
808
Hartree Partners
New York
– -$807K -20,000 Closed
I
809
InceptionR
California
– -$706K -17,499 Closed
LP
810
LMR Partners
United Kingdom
– -$674K -16,719 Closed
Jacobs Levy Equity Management
811
Jacobs Levy Equity Management
New Jersey
– -$673K -16,685 Closed
KWM
812
Kiker Wealth Management
Georgia
– -$662K -16,400 Closed
OAM
813
Oppenheimer Asset Management
New York
– -$661K -16,398 Closed
MC
814
Machina Capital
France
– -$594K -14,719 Closed
PA
815
Prossimo Advisors
California
– -$491K -12,179 Closed
PCP
816
Proficio Capital Partners
Massachusetts
– -$393K -9,733 Closed
FRM
817
Fox Run Management
Connecticut
– -$388K -9,628 Closed
SMA
818
Sage Mountain Advisors
Georgia
– -$354K -8,784 Closed
DTL
819
Dynamic Technology Lab
Singapore
– -$318K -7,888 Closed
SCM
820
Stevens Capital Management
Pennsylvania
– -$303K -7,518 Closed
MPM
821
MBB Public Markets
Illinois
– -$264K -6,554 Closed
N
822
Natixis
France
– -$263K -6,526 Closed
AIC
823
Aurora Investment Counsel
Georgia
– -$257K -6,360 Closed
AB
824
ANB Bank
Colorado
– -$251K -6,233 Closed
DFCM
825
Dark Forest Capital Management
Puerto Rico
– -$245K -6,080 Closed
31 32
33
34 35

NI Hedge Fund Activity: Q3 2025 in Review

784 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in NiSource (NI) for Q3 2025, worth a combined $19.3B — up 5.3% from $18.3B a quarter earlier.

Buyers outnumbered sellers: 99 funds opened new NI positions and 77 closed out — a net gain of 22 holders — while 272 added to existing stakes and 272 trimmed.

The largest buyer was Zimmer Partners, adding an estimated $232M. The largest seller was Bank of Montreal, cutting an estimated $112M.

  • 784 institutional investors held NiSource (NI) as of Q3 2025, up from 773 in Q2 2025.
  • Funds reported $19.3B of NiSource stock for Q3 2025, up 5.3% quarter-over-quarter.
  • 99 funds opened new NiSource positions in Q3 2025 and 77 closed out, a net change of +22 holders.
  • The largest NiSource buyer in Q3 2025 was Zimmer Partners, an estimated $232M added.
  • The largest NiSource seller in Q3 2025 was Bank of Montreal, an estimated $112M sold.

Based on aggregated 13F filings for Q3 2025.