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FreightCar America
RAIL

70 hedge funds and large institutions have $66.3M invested in FreightCar America in 2025 Q2 according to their latest regulatory filings, with 14 funds opening new positions, 19 increasing their positions, 27 reducing their positions, and 19 closing their positions.

New
Increased
Maintained
Reduced
Closed

44% more capital invested

Capital invested by funds: $46.1M → $66.3M (+$20.3M)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

3.46% less ownership

Funds ownership: 43.71% → 40.24% (-3.5%)

7% less funds holding

Funds holding: 75 → 70 (-5)

26% less first-time investments, than exits

New positions opened: 14 | Existing positions closed: 19

30% less repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 27

59% less call options, than puts

Call options by funds: $542K | Put options by funds: $1.32M

Holders
70
Holders Change
-5
Holders Change %
-6.67%
% of All Funds
0.92%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.01%
New
14
Increased
19
Reduced
27
Closed
19
Calls
$542K
Puts
$1.32M
Net Calls
-$781K
Net Calls Change
-$1.03M

Top Buyers

Rank Fund Capital Flow
1
NSIM
North Star Investment Management
Illinois
+$1.21M
2
GCP
GSA Capital Partners
United Kingdom
+$867K
3
JP Morgan Chase
JP Morgan Chase
New York
+$657K
4
HighTower Advisors
HighTower Advisors
Illinois
+$549K
5
AA
Ancora Advisors
Ohio
+$479K

Top Sellers

Rank Fund Capital Flow
1
Millennium Management
Millennium Management
New York
-$3.37M
2
CGIC
Continental General Insurance Company
Texas
-$1.36M
3
Renaissance Technologies
Renaissance Technologies
New York
-$999K
4
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$880K
5
Jane Street
Jane Street
New York
-$461K
Name Holding Trade Value Shares
Change 		Change in
Stake
Goldman Sachs
26
Goldman Sachs
New York
$450K -$379K -54,420 -51%
Two Sigma Advisers
27
Two Sigma Advisers
New York
$432K +$94.7K +13,600 +37%
XT
28
XTX Topco
Cayman Islands
$412K -$18K -2,583 -5%
Bank of New York Mellon
29
Bank of New York Mellon
New York
$409K – – –
EGM
30
Engineers Gate Manager
New York
$398K -$66.8K -9,600 -17%
Jane Street
31
Jane Street
New York
$367K -$461K -66,181 -61%
PAM
32
Panagora Asset Management
Massachusetts
$327K +$264K +37,939 New
Northern Trust
33
Northern Trust
Illinois
$292K -$808 -116 -0.3%
Citadel Advisors
34
Citadel Advisors
Florida
$287K -$310K -44,562 -57%
FAIM
35
Financial Advocates Investment Management
Washington
$280K +$227K +32,536 New
IFG
36
Independent Financial Group
California
$245K +$23K +3,300 +13%
Bank of America
37
Bank of America
North Carolina
$223K -$138K -19,829 -43%
LPL Financial
38
LPL Financial
California
$219K +$177K +25,439 New
OSAM
39
O'Shaughnessy Asset Management
Connecticut
$208K +$28.3K +4,063 +20%
A
40
AlphaQuest
New York
$183K +$34.7K +4,984 +31%
Raymond James Financial
41
Raymond James Financial
Florida
$177K +$28.3K +4,067 +25%
MG
42
Marex Group
$172K -$69.6K -10,000 -33%
MFC
43
Mechanics Financial Corp
Ohio
$172K +$69.6K +10,000 +100%
Victory Capital Management
44
Victory Capital Management
Texas
$163K +$21.8K +3,127 +20%
HBCM
45
Heron Bay Capital Management
Michigan
$143K +$115K +16,561 New
GCM
46
Graham Capital Management
Connecticut
$143K -$150K -21,610 -57%
RWM
47
Ritholtz Wealth Management
New York
$141K +$40.3K +5,789 +55%
Susquehanna International Group
48
Susquehanna International Group
Pennsylvania
$133K -$880K -126,364 -89%
D.E. Shaw & Co
49
D.E. Shaw & Co
New York
$124K +$100K +14,400 New
Creative Planning
50
Creative Planning
Kansas
$115K – – –
1
2
3 4

RAIL Hedge Fund Activity: Q2 2025 in Review

70 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in FreightCar America (RAIL) for Q2 2025, worth a combined $66.3M — up 44% from $46.1M a quarter earlier.

Sellers outnumbered buyers: 19 funds closed out of RAIL and 14 opened new positions — a net loss of 5 holders — while 27 trimmed existing stakes and 19 added.

The largest buyer was North Star Investment Management, opening a new position worth an estimated $1.21M. The largest seller was Millennium Management, cutting an estimated $3.37M.

  • 70 institutional investors held FreightCar America (RAIL) as of Q2 2025, down from 75 in Q1 2025.
  • Funds reported $66.3M of FreightCar America stock for Q2 2025, up 44% quarter-over-quarter.
  • 14 funds opened new FreightCar America positions in Q2 2025 and 19 closed out, a net change of -5 holders.
  • The largest FreightCar America buyer in Q2 2025 was North Star Investment Management, an estimated $1.21M added.
  • The largest FreightCar America seller in Q2 2025 was Millennium Management, an estimated $3.37M sold.

Based on aggregated 13F filings for Q2 2025.