Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in NI held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 51.5M | $2.40B | -0.2% | 10.736% | 0.04% |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 31.1M | $1.45B | — | 6.496% | 0.04% |
| 3 | STATE STREET CORP | 27.1M | $1.26B | +1.4% | 5.653% | 0.04% |
| 4 | VANGUARD PORTFOLIO MANAGEMENT LLC | 27.0M | $1.26B | — | 5.628% | 0.07% |
| 5 | GEODE CAPITAL MANAGEMENT, LLC | 12.6M | $586.3M | +1.2% | 2.631% | 0.04% |
| 6 | DEUTSCHE BANK AG\ | 11.7M | $546.8M | +13.2% | 2.444% | 0.18% |
| 7 | FMR LLC | 9.2M | $430.4M | +0.9% | 1.924% | 0.02% |
| 8 | JENNISON ASSOCIATES LLC | 9.2M | $430.3M | -2.2% | 1.923% | 0.30% |
| 9 | Invesco Ltd. | 7.8M | $363.6M | +0.1% | 1.625% | 0.06% |
| 10 | FRANKLIN RESOURCES INC | 6.0M | $279.3M | -2.2% | 1.249% | 0.07% |
| 11 | UBS Group AG | 5.9M | $274.1M | +20.5% | 1.225% | 0.04% |
| 12 | Newport Trust Co | 5.6M | $261.2M | -1.8% | 1.167% | 0.64% |
| 13 | MORGAN STANLEY | 5.5M | $255.8M | +12.3% | 1.143% | 0.02% |
| 14 | Zimmer Partners, LP | 5.1M | $240.0M | +32.9% | 1.073% | 5.82% |
| 15 | Pictet Asset Management Holding SA | 4.8M | $224.5M | -11.1% | 1.004% | 0.24% |
| 16 | WELLINGTON MANAGEMENT GROUP LLP | 4.5M | $211.5M | +7.0% | 0.946% | 0.04% |
| 17 | Soroban Capital Partners LP | 4.5M | $209.7M | -16.6% | 0.937% | 0.40% |
| 18 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 4.5M | $208.7M | +3.0% | 0.933% | 0.03% |
| 19 | NORTHERN TRUST CORP | 4.3M | $198.5M | -0.4% | 0.887% | 0.03% |
| 20 | UBS ASSET MANAGEMENT AMERICAS INC | 4.2M | $195.9M | +3.8% | 0.876% | 0.04% |
| 21 | REAVES W H & CO INC | 4.1M | $191.9M | -24.2% | 0.858% | 3.18% |
| 22 | GOLDMAN SACHS GROUP INC | 3.9M | $181.5M | +10.2% | 0.812% | 0.02% |
| 23 | Legal & General Group Plc | 3.9M | $180.8M | -1.6% | 0.808% | 0.04% |
| 24 | BROOKFIELD ASSET MANAGEMENT INC. | 3.7M | $171.7M | +154.7% | 0.768% | 0.23% |
| 25 | BARCLAYS PLC | 3.5M | $162.9M | +139.9% | 0.728% | 0.07% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in NI — a direct measure of their conviction.
Filings activity in NI during Q1 2026, grouped by how each filer changed its position.
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 858 | +5.9% | 78.30% | +4.89 pp | $17.72B | +6.7% |
| Q4 2025 | 810 | +6.3% | 73.41% | 0.46 pp | $16.62B | 0.6% |
| Q3 2025 | 762 | +0.7% | 73.87% | +3.46 pp | $16.72B | +4.9% |
| Q2 2025 | 757 | 2.3% | 70.41% | +2.88 pp | $15.94B | +4.3% |
| Q1 2025 | 775 | +8.7% | 67.53% | +4.93 pp | $15.28B | +7.9% |
| Q4 2024 | 713 | +7.5% | 62.60% | +5.68 pp | $14.17B | +10.0% |
| Q3 2024 | 663 | +6.9% | 56.92% | +7.88 pp | $12.88B | +16% |
| Q2 2024 | 620 | — | 49.04% | — | $11.10B | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying NI stock.
Based on Q1 2026 13F filings, institutional ownership of NiSource Inc. stands at 78.3%, held across 858 reporting institutions.
BlackRock, Inc. is the largest reported institutional holder of NI, with approximately 51,474,846 shares worth $2.40B as of Q1 2026.
No marquee "smart money" managers (Berkshire, Burry, ARK, Tiger Global, Pershing Square, Baupost, etc.) currently appear among the top 25 institutional holders of NI.
Our composite Smart Money Score for NI is 54 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
134 institutions opened new positions in NI during Q1 2026, while 86 fully exited. 614 added to existing positions and 106 trimmed.
NI institutional ownership rose by 4.89 percentage points quarter-over-quarter, with a net change of +48 holders.
The top 10 institutions account for 50.9% of all reported 13F value in NI, and the top 25 account for 68.7%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
NiSource Inc. (NI) Institutional Ownership