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774 hedge funds and large institutions have $18.3B invested in NiSource in 2025 Q2 according to their latest regulatory filings, with 72 funds opening new positions, 327 increasing their positions, 253 reducing their positions, and 84 closing their positions.

New
Increased
Maintained
Reduced
Closed

29% more repeat investments, than reductions

Existing positions increased: 327 | Existing positions reduced: 253

2.37% more ownership

Funds ownership: 94.05%96.41% (+2.4%)

3% more capital invested

Capital invested by funds: $17.7B → $18.3B (+$587M)

3% less funds holding

Funds holding: 796774 (-22)

14% less first-time investments, than exits

New positions opened: 72 | Existing positions closed: 84

39% less call options, than puts

Call options by funds: $9.8M | Put options by funds: $16M

63% less funds holding in top 10

Funds holding in top 10: 83 (-5)

Holders
774
Holders Change
-22
Holders Change %
-2.76%
% of All Funds
10.19%
Holding in Top 10
3
Holding in Top 10 Change
-5
Holding in Top 10 Change %
-62.5%
% of All Funds
0.04%
New
72
Increased
327
Reduced
253
Closed
84
Calls
$9.8M
Puts
$16M
Net Calls
-$6.25M
Net Calls Change
-$660K
Name Holding Trade Value Shares
Change
Change in
Stake
MSRPS
101
Maryland State Retirement & Pension System
Maryland
$18M +$1.05M +26,685 +6%
Adage Capital Partners
102
Adage Capital Partners
Massachusetts
$17.4M +$90.2K +2,300 +0.5%
Raymond James Financial
103
Raymond James Financial
Florida
$17.3M -$859K -21,905 -5%
GC
104
Guggenheim Capital
Illinois
$17M -$880K -22,434 -5%
HAI
105
Hennessy Advisors Inc
California
$16.8M +$467K +11,900 +3%
New York State Teachers Retirement System (NYSTRS)
106
New York State Teachers Retirement System (NYSTRS)
New York
$16.6M +$7.25K +185 +0%
Macquarie Group
107
Macquarie Group
Australia
$16.1M -$10.9M -278,227 -41%
State Board of Administration of Florida Retirement System
108
State Board of Administration of Florida Retirement System
Florida
$16M +$134K +3,410 +0.9%
Korea Investment Corp
109
Korea Investment Corp
South Korea
$15.9M +$9.27M +236,286 +149%
GF
110
Gabelli Funds
New York
$15.8M -$19.6K -500 -0.1%
Asset Management One
111
Asset Management One
Japan
$15.2M +$711K +18,138 +5%
State of Wisconsin Investment Board
112
State of Wisconsin Investment Board
Wisconsin
$14.8M +$454K +11,578 +3%
Hudson Bay Capital Management
113
Hudson Bay Capital Management
Connecticut
$14.5M -$16.9M -431,624 -55%
EIP
114
Energy Income Partners
Connecticut
$14M -$19.9K -507 -0.1%
FCBT
115
First Citizens Bank & Trust
North Carolina
$13.9M +$3.56M +90,667 +36%
MAM
116
Magellan Asset Management
Australia
$13.9M -$127K -3,251 -0.9%
Boston Partners
117
Boston Partners
Massachusetts
$13.8M +$112K +2,860 +0.8%
PMAM
118
Picton Mahoney Asset Management
Ontario, Canada
$13.7M +$1.28M +32,595 +11%
National Bank of Canada
119
National Bank of Canada
Quebec, Canada
$13.3M -$13.5M -344,786 -51%
Alyeska Investment Group
120
Alyeska Investment Group
Illinois
$13.2M +$9.33M +237,922 +266%
CFIA
121
Cantor Fitzgerald Investment Advisors
New York
$13.1M -$142K -3,611 -1%
Man Group
122
Man Group
United Kingdom
$12.9M +$1.38M +35,287 +12%
GIM
123
Goelzer Investment Management
Indiana
$12.7M -$110K -2,793 -0.9%
Aberdeen Group
124
Aberdeen Group
United Kingdom
$12.5M +$1.9M +48,533 +19%
Zurich Cantonal Bank
125
Zurich Cantonal Bank
Switzerland
$12.5M +$2.63M +67,187 +28%

NI Hedge Fund Activity: Q2 2025 in Review

774 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in NiSource (NI) for Q2 2025, worth a combined $18.3B — up 3.3% from $17.7B a quarter earlier.

Sellers outnumbered buyers: 84 funds closed out of NI and 72 opened new positions — a net loss of 12 holders — while 253 trimmed existing stakes and 327 added.

The largest buyer was T. Rowe Price Investment Management, adding an estimated $655M. The largest seller was Wellington Management Group, cutting an estimated $83.6M.

  • 774 institutional investors held NiSource (NI) as of Q2 2025, down from 796 in Q1 2025.
  • Funds reported $18.3B of NiSource stock for Q2 2025, up 3.3% quarter-over-quarter.
  • 72 funds opened new NiSource positions in Q2 2025 and 84 closed out, a net change of -12 holders.
  • The largest NiSource buyer in Q2 2025 was T. Rowe Price Investment Management, an estimated $655M added.
  • The largest NiSource seller in Q2 2025 was Wellington Management Group, an estimated $83.6M sold.

Based on aggregated 13F filings for Q2 2025.