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173 hedge funds and large institutions have $872M invested in NextNav in 2025 Q1 according to their latest regulatory filings, with 38 funds opening new positions, 84 increasing their positions, 26 reducing their positions, and 16 closing their positions.

New
Increased
Maintained
Reduced
Closed

223% more repeat investments, than reductions

Existing positions increased: 84 | Existing positions reduced: 26

217% more call options, than puts

Call options by funds: $67.6M | Put options by funds: $21.3M

138% more first-time investments, than exits

New positions opened: 38 | Existing positions closed: 16

12% more funds holding

Funds holding: 154 → 173 (+19)

1.2% more ownership

Funds ownership: 53.33% → 54.53% (+1.2%)

0% more funds holding in top 10

Funds holding in top 10: 8 → 8 (0)

20% less capital invested

Capital invested by funds: $1.08B → $872M (-$212M)

Holders
173
Holders Change
+19
Holders Change %
+12.34%
% of All Funds
2.32%
Holding in Top 10
8
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.11%
New
38
Increased
84
Reduced
26
Closed
16
Calls
$67.6M
Puts
$21.3M
Net Calls
+$46.3M
Net Calls Change
+$11.9M

Top Buyers

Rank Fund Capital Flow
1
UBS Group
UBS Group
Switzerland
+$14.4M
2
WHCM
Wolf Hill Capital Management
Connecticut
+$10.7M
3
IP
Interval Partners
New York
+$9.75M
4
Vanguard Group
Vanguard Group
Pennsylvania
+$8.63M
5
Millennium Management
Millennium Management
New York
+$6.08M

Top Sellers

Rank Fund Capital Flow
1
NMC
NEA Management Company
Maryland
-$127M
2
WCM
Whitefort Capital Management
New York
-$9.8M
3
Federated Hermes
Federated Hermes
Pennsylvania
-$3.74M
4
PCM
Prentice Capital Management
Connecticut
-$1.78M
5
CP
CenterBook Partners
Connecticut
-$1.53M
Name Holding Trade Value Shares
Change 		Change in
Stake
Swiss National Bank
51
Swiss National Bank
Switzerland
$1.54M +$327K +27,100 +27%
BFO
52
Boston Family Office
Massachusetts
$1.52M – – –
IMC Chicago
53
IMC Chicago
Illinois
$1.4M +$1.12M +92,590 +417%
ECM
54
ExodusPoint Capital Management
New York
$1.34M +$1.33M +109,926 New
RhumbLine Advisers
55
RhumbLine Advisers
Massachusetts
$1.29M +$77.4K +6,413 +6%
FW
56
Fairway Wealth
Ohio
$1.22M +$1.21M +100,000 New
USPCM
57
Union Square Park Capital Management
New York
$1.22M +$1.21M +100,000 New
D.E. Shaw & Co
58
D.E. Shaw & Co
New York
$1.13M +$131K +10,860 +13%
AllianceBernstein
59
AllianceBernstein
Tennessee
$1.07M -$302 -25 -0%
Raymond James Financial
60
Raymond James Financial
Florida
$1.05M +$858K +71,100 +479%
Wolverine Trading
61
Wolverine Trading
Illinois
$990K -$135K -11,221 -13%
State of Wisconsin Investment Board
62
State of Wisconsin Investment Board
Wisconsin
$973K +$152K +12,606 +19%
BFM
63
Boothbay Fund Management
New York
$964K +$956K +79,189 New
PP
64
Paloma Partners
Connecticut
$913K +$905K +75,000 New
Deutsche Bank
65
Deutsche Bank
Germany
$883K +$61.1K +5,065 +8%
Cambridge Investment Research Advisors
66
Cambridge Investment Research Advisors
Iowa
$864K +$416K +34,481 +94%
SSA
67
Schonfeld Strategic Advisors
New York
$859K +$622K +51,550 +271%
Citigroup
68
Citigroup
New York
$822K -$176K -14,578 -18%
DFCM
69
Dark Forest Capital Management
Puerto Rico
$736K +$730K +60,468 New
GRIM
70
Greenhaven Road Investment Management
Connecticut
$730K +$724K +60,000 New
CCA
71
Cruiser Capital Advisors
Connecticut
$716K +$302K +25,000 +74%
CCM
72
Corsair Capital Management
New York
$703K -$72.4K -6,000 -9%
William Blair & Company
73
William Blair & Company
Illinois
$694K – – –
WBG
74
Wharton Business Group
Pennsylvania
$686K +$560K +46,360 +464%
Legal & General Group
75
Legal & General Group
United Kingdom
$681K +$108K +8,958 +19%
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NN Hedge Fund Activity: Q1 2025 in Review

173 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in NextNav (NN) for Q1 2025, worth a combined $872M — down 20% from $1.08B a quarter earlier.

Buyers outnumbered sellers: 38 funds opened new NN positions and 16 closed out — a net gain of 22 holders — while 84 added to existing stakes and 26 trimmed.

The largest buyer was UBS Group, adding an estimated $14.4M. The largest seller was NEA Management Company, exiting entirely with an estimated $127M sold.

  • 173 institutional investors held NextNav (NN) as of Q1 2025, up from 154 in Q4 2024.
  • Funds reported $872M of NextNav stock for Q1 2025, down 20% quarter-over-quarter.
  • 38 funds opened new NextNav positions in Q1 2025 and 16 closed out, a net change of +22 holders.
  • The largest NextNav buyer in Q1 2025 was UBS Group, an estimated $14.4M added.
  • The largest NextNav seller in Q1 2025 was NEA Management Company, an estimated $127M sold.

Based on aggregated 13F filings for Q1 2025.