Plug Power
PLUG
430 hedge funds and large institutions have $654M invested in Plug Power in 2025 Q1 according to their latest regulatory filings, with 62 funds opening new positions, 124 increasing their positions, 120 reducing their positions, and 82 closing their positions.
127% more call options, than puts
Call options by funds: $66.6M | Put options by funds: $29.4M
3% more repeat investments, than reductions
Existing positions increased: 124 | Existing positions reduced: 120
0.69% less ownership
Funds ownership: 50.58% → 49.89% (-0.69%)
6% less funds holding
Funds holding: 457 → 430 (-27)
24% less first-time investments, than exits
New positions opened: 62 | Existing positions closed: 82
34% less capital invested
Capital invested by funds: $984M → $654M (-$330M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HCM
Heights Capital Management
San Francisco,
California
|
+$43.9M |
| 2 |
UBS Group
Zurich,
Switzerland
|
+$32.6M |
| 3 |
Coatue Management
New York
|
+$7.79M |
| 4 |
Vanguard Group
Malvern,
Pennsylvania
|
+$7.47M |
| 5 |
Norges Bank
Oslo,
Norway
|
+$5.75M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
-$12.9M |
| 2 |
Point72 Asset Management
Stamford,
Connecticut
|
-$10.4M |
| 3 |
Morgan Stanley
New York
|
-$10.1M |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$9.71M |
| 5 |
BNP Paribas Financial Markets
Paris,
France
|
-$6.68M |
PLUG Hedge Fund Activity: Q1 2025 in Review
430 of the 7,472 institutional investors tracked by Wall St. Rank reported a position in Plug Power (PLUG) for Q1 2025, worth a combined $654M — down 34% from $984M a quarter earlier.
Sellers outnumbered buyers: 82 funds closed out of PLUG and 62 opened new positions — a net loss of 20 holders — while 120 trimmed existing stakes and 124 added.
The largest buyer was Heights Capital Management, opening a new position worth an estimated $43.9M. The largest seller was Citadel Advisors, exiting entirely with an estimated $12.9M sold.
- 430 institutional investors held Plug Power (PLUG) as of Q1 2025, down from 457 in Q4 2024.
- Funds reported $654M of Plug Power stock for Q1 2025, down 34% quarter-over-quarter.
- 62 funds opened new Plug Power positions in Q1 2025 and 82 closed out, a net change of -20 holders.
- The largest Plug Power buyer in Q1 2025 was Heights Capital Management, an estimated $43.9M added.
- The largest Plug Power seller in Q1 2025 was Citadel Advisors, an estimated $12.9M sold.
Based on aggregated 13F filings for Q1 2025.