Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

NISOURCE INC (NI)

781 + Investors. Track Smart Money conviction in NI. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +44
Streak
2Q ▲
Buyers last Q
56%

Smart Money Signals — NI

Based on 773 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds added NI than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
773 hedge funds hold NI right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +14% more funds vs a year ago

fund count last 6Q
+94 new funds entered over the past year (+14% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 56% buying

407 buying315 selling
Last quarter: 407 funds bought or added vs 315 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+13 vs last Q)

new funds entering per quarter
Funds opening a new NI position: 123 → 69 → 101 → 114. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

64% of holders stayed for 2+ years

■ 64% conviction (2yr+) ■ 20% medium ■ 16% new
496 out of 773 hedge funds have held NI for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
📈

Growing discovery — still being found

108 → 123 → 69 → 101 → 114 new funds/Q
New funds entering each quarter: 123 → 69 → 101 → 114. A growing number of institutions are discovering NI each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Deep conviction — 67% of holders stayed 2+ years

■ 67% veterans ■ 11% 1-2yr ■ 22% new
Of 781 current holders: 521 (67%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 62% AUM from top-100 funds

62% from top-100 AUM funds
44 of 773 holders are among the 100 largest funds by AUM, controlling 62% of total institutional value in NI. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.5
out of 10
Low Exit Risk
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Hedge Fund Ownership: NI

How many hedge funds hold NI — quarterly history vs. share price
Quarterly hedge fund ownership of NI vs. share price

Market Analysis: NI

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: NI

-- --
Smart Money Signal ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

94 top-rated funds 4 high-conviction
Consensus
8.6
/ 10
breadth
×
Elite
3.5
/ 10
conviction
Hedge Fund Positioning: NI
2026 Q1 Stats Unlock in 19 days 781 + Investors

Track Smart Money conviction in NI. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 781 744 4.97%
13F Shares 442M 445M -0.84%
Total Value $18.52B $19.18B -3.43%
New Positions 114 104 +10
Increased Positions 306 277 +29
Closed Positions 72 89 -17
Reduced Positions 256 263 -7
Total Calls 5 10 -50.0%
Total Puts 5 8 -37.5%
PUT/CALL Ratio 1.0 0.8 Neutral

Statistics: NI

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
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Net Income Avi to Common (ttm) --
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Total Cash (mrq) --
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Institutional Holders (2026 Q1)

781 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in NI. Verified SEC 13F-HR filings.

Top 25 institutional holders of NI — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Ausbil Investment Management Ltd 3.68% 157,560 $7.4M
2 DUFF & PHELPS INVESTMENT MANAGEMENT CO 1.51% 3,106,640 $145.0M
3 Board of the Pension Protection Fund 1.47% 34,200 $1.6M
4 TEMA ETFS LLC 1.15% 367,563 $17.2M
5 LINCOLN CAPITAL CORP 1.12% 65,353 $3.0M
6 Finward Bancorp 1.05% 28,158 $1.3M
7 HF Advisory Group, LLC 1.04% 65,120 $3.0M
8 BFSG, LLC 0.87% 198,048 $9.2M
9 CANTOR FITZGERALD INVESTMENT ADVISORS L.P. 0.68% 198,951 $9.3M
10 HENNESSY ADVISORS INC 0.60% 358,481 $16.7M
11 Badgley Phelps Wealth Managers, LLC 0.58% 626,099 $29.2M
12 Goelzer Investment Management, Inc. 0.55% 245,549 $11.5M
13 Hanson & Doremus Investment Management 0.54% 100,942 $5K
14 TI-TRUST, INC 0.53% 19,051 $889K
15 MQS Management LLC 0.53% 16,698 $779K
16 Artemis Investment Management LLP 0.48% 979,771 $45.7M
17 NBC SECURITIES, INC. 0.45% 128,157 $6.0M
18 Oak Thistle LLC 0.43% 94,030 $4.4M
19 R Squared Ltd 0.38% 14,887 $695K
20 OneAscent Investment Solutions LLC 0.37% 7,917 $369K
21 HORIZON BANCORP INC /IN/ 0.36% 16,197 —
22 SPIRIT OF AMERICA MANAGEMENT CORP/NY 0.34% 37,300 $1.7M
23 PFA Pension, Forsikringsaktieselskab 0.34% 2,400,019 $112.0M
24 STABLEFORD CAPITAL II LLC 0.30% 17,551 $819K
25 ELCO Management Co., LLC 0.30% 13,303 $621K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — NISOURCE INC (NI)

What does the Smart Money Trend signal show for NI?

Buying streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds added NI than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for NI?

Slight buying edge — 56% buying: Last quarter: 407 funds bought or added vs 315 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for NI holders?

Elite ownership — 62% AUM from top-100 funds: 44 of 773 holders are among the 100 largest funds by AUM, controlling 62% of total institutional value in NI. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held NI?

64% of holders stayed for 2+ years: 496 out of 773 hedge funds have held NI for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.