FiscalNote
NOTE
NOTE was delisted on the 25th of March, 2026.
70 hedge funds and large institutions have $27.6M invested in FiscalNote in 2025 Q2 according to their latest regulatory filings, with 19 funds opening new positions, 23 increasing their positions, 18 reducing their positions, and 38 closing their positions.
29% more call options, than puts
Call options by funds: $291K | Put options by funds: $225K
28% more repeat investments, than reductions
Existing positions increased: 23 | Existing positions reduced: 18
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
0.54% less ownership
Funds ownership: 3.41% → 2.86% (-0.54%)
23% less funds holding
Funds holding: 91 → 70 (-21)
39% less capital invested
Capital invested by funds: $45.1M → $27.6M (-$17.4M)
50% less first-time investments, than exits
New positions opened: 19 | Existing positions closed: 38
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
+$675K |
| 2 |
SCM
Stonehill Capital Management
New York
|
+$585K |
| 3 |
GCP
GSA Capital Partners
London,
United Kingdom
|
+$349K |
| 4 |
Marshall Wace
London,
United Kingdom
|
+$269K |
| 5 |
Jane Street
New York
|
+$254K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BlackRock
New York
|
-$2.29M |
| 2 |
KCM
Kennedy Capital Management
St Louis,
Missouri
|
-$1.6M |
| 3 |
State Street
Boston,
Massachusetts
|
-$629K |
| 4 |
Geode Capital Management
Boston,
Massachusetts
|
-$586K |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
-$305K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
101
MML Investors Services
Springfield,
Massachusetts
| – | -$10K | -982 | Closed |
|
102
Legal & General Group
London,
United Kingdom
| – | -$5.19K | -535 | Closed |
|
103
Russell Investments Group
London,
United Kingdom
| – | -$5.05K | -521 | Closed |
|
|
AIP
104
Ameritas Investment Partners
Lincoln,
Nebraska
| – | -$4.16K | -429 | Closed |
|
105
California State Teachers Retirement System (CalSTRS)
West Sacramento,
California
| – | -$3.53K | -364 | Closed |
|
|
AB
106
Amalgamated Bank
New York
| – | -$2K | -175 | Closed |
|
|
OP
107
ORG Partners
Roanoke,
Indiana
| – | -$975 | -104 | Closed |
|
108
PNC Financial Services Group
Pittsburgh,
Pennsylvania
| – | -$128 | -13 | Closed |
|
|
SCM
109
Sterling Capital Management
Charlotte,
North Carolina
| – | -$51 | -5 | Closed |
|
NOTE Hedge Fund Activity: Q2 2025 in Review
70 of the 7,602 institutional investors tracked by Wall St. Rank reported a position in FiscalNote (NOTE) for Q2 2025, worth a combined $27.6M — down 39% from $45.1M a quarter earlier.
Sellers outnumbered buyers: 38 funds closed out of NOTE and 19 opened new positions — a net loss of 19 holders — while 18 trimmed existing stakes and 23 added.
The largest buyer was Millennium Management, opening a new position worth an estimated $675K. The largest seller was BlackRock, cutting an estimated $2.29M.
- 70 institutional investors held FiscalNote (NOTE) as of Q2 2025, down from 91 in Q1 2025.
- Funds reported $27.6M of FiscalNote stock for Q2 2025, down 39% quarter-over-quarter.
- 19 funds opened new FiscalNote positions in Q2 2025 and 38 closed out, a net change of -19 holders.
- The largest FiscalNote buyer in Q2 2025 was Millennium Management, an estimated $675K added.
- The largest FiscalNote seller in Q2 2025 was BlackRock, an estimated $2.29M sold.
Based on aggregated 13F filings for Q2 2025.