DT Midstream

DTM • NYSE

DT Midstream is a oil & gas midstream company in the energy sector on NYSE, led by David Slater, with a market cap of $12.3B. As of Q3 2025, 84% of shares are held by 593 institutional investors, with VANGUARD GROUP INC as the largest holder at 11.1%.

President and Chief Executive OfficerDavid Slater

Market Cap$12.3B

Oil & Gas Midstream

Energy

Employees402.0

Websitedtmidstream.com

Country

United States of America

Overview

Overview of institutional ownership in DTM as of Q3 2025 with a market cap of $11.5B

All Institutions

Institutions: 593
Value Held: $9.7B
Shares Held: 85.8M
Avg Position: $16.4M
Median Position: $524.5K

Hedge Funds

Hedge Funds: 44
Value Held: $1.2B
Shares Held: 10.2M
Avg Position: $26.2M
Median Position: $5.1M

Ownership Breakdown

Institutional (non-HF)

74.4%

$8.5B

Hedge Funds

10.05%

$1.2B

Retail & Other

15.55%

$1.8B

Based on market cap of $11.5B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in DTM as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$1.3B 0.02% of portfolio	11.10% 11.3M shares	Q3 2021 Held for 4y 2m	$6.69T
B BlackRock, Inc. Institution	-	$1.2B 0.02% of portfolio	10.47% 10.6M shares	Q2 2021 Held for 4y 5m	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$364.3M 0.01% of portfolio	3.15% 3.2M shares	Q3 2021 Held for 4y 2m	$2.88T
5 59 North Capital Management, LP Hedge Fund•Long/Short	Michael Richard Bilger Managing Partner	$347.6M 10.83% of portfolio	3.03% 3.1M shares	Q2 2025 Held for 5 months	$3.2B
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	Kevin G. Burke CEO	$326.8M 0.11% of portfolio	2.84% 2.9M shares	Q3 2021 Held for 4y 2m	$298.06B
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$325.4M 0.05% of portfolio	2.83% 2.9M shares	Q3 2021 Held for 4y 2m	$691.34B
N Neuberger Berman Group LLC Institution	-	$316.2M 0.23% of portfolio	2.75% 2.8M shares	Q3 2021 Held for 4y 2m	$136.94B
TORTOISE CAPITAL ADVISORS, L.L.C. Real Assets	Thomas Ibberson Florence CEO	$304.7M 3.93% of portfolio	2.65% 2.7M shares	Q3 2021 Held for 4y 2m	$7.8B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$301.7M 0.06% of portfolio	2.63% 2.7M shares	Q3 2021 Held for 4y 2m	$466.32B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$260.2M 0.02% of portfolio	2.27% 2.3M shares	Q3 2021 Held for 4y 2m	$1.57T

Net Capital Flow

Institutional buying and selling activity for DTM in Q3 2025

Traded: +$76.9M
Buyers: 267
Sellers: 239
Total Bought: +$829.5M
Total Sold: −$752.6M
Avg Position: $14.9M

Biggest Buyers

Institution	Net Bought	Current Position
5 59 North Capital Management, LP Hedge Fund•Long/Short	+$114.3M +1.0M shares	$347.6M 3.1M shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	+$95.9M +848.5K shares	$97.0M 858.3K shares
Merewether Investment Management, LP Hedge Fund•Sector	+$74.4M +658.4K shares	$113.1M 1.0M shares
T T. Rowe Price Investment Management, Inc. Insurance Manager	+$56.9M +503.3K shares	$59.8M 528.5K shares
Holocene Advisors, LP Hedge Fund•Long/Short	+$33.9M +299.6K shares	$62.6M 554.1K shares
M Mitsubishi UFJ Trust & Banking Corp Institution	+$29.8M +263.3K shares	$84.5M 747.8K shares
Copeland Capital Management, LLC Long Only Manager	+$29.2M +258.6K shares	$29.2M 258.6K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$28.3M +250.5K shares	$31.7M 280.4K shares
B BROOKFIELD ASSET MANAGEMENT INC. RIA/Wealth	+$26.6M +235.4K shares	$66.9M 591.9K shares
PRINCIPAL FINANCIAL GROUP INC Institution	+$24.6M +217.2K shares	$56.6M 500.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
Blackstone Group L.P. Institution	−$158.2M −1.4M shares	$248.7M 2.2M shares
Invesco Ltd. ETF Provider	−$75.2M −665.3K shares	$112.9M 998.7K shares
A Aventail Capital Group, LP Hedge Fund•Long/Short	−$66.4M −587.1K shares	$12.8M 113.1K shares
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	−$38.6M −341.1K shares	$88.1M 779.5K shares
Clean Energy Transition LLP Hedge Fund•Long/Short	−$35.7M −324.8K shares	Sold Off 0 shares
STATE STREET CORP Institution	−$34.2M −300.5K shares	$364.3M 3.2M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$31.0M −274.5K shares	$148.8M 1.3M shares
Jain Global LLC Hedge Fund•Multi-Strategy	−$28.9M −262.5K shares	Sold Off 0 shares
B BlackRock, Inc. Institution	−$26.0M −230.3K shares	$1.2B 10.6M shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$17.9M −158.1K shares	$23.0M 203.7K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited DTM in Q3 2025

New Positions: 40
New Value: $81.3M
Exited Positions: 57
Exited Value: $168.5M

New Positions

Institution	Position Value
Copeland Capital Management, LLC Long Only Manager	$29.2M 258.6K shares
Encompass Capital Advisors LLC Hedge Fund•Long/Short	$22.1M 195.7K shares
R RR Advisors, LLC Hedge Fund•Sector	$6.4M 57.0K shares
Yost Capital Management, L.L.C. Hedge Fund•Long/Short	$5.7M 50.0K shares
Sagefield Capital LP Private Equity	$5.6M 49.4K shares
Numerai GP LLC Hedge Fund•Quant	$1.7M 14.7K shares
L LMR Partners LLP Institution	$1.5M 13.3K shares
Z Zurich Insurance Group Ltd/FI Institution	$1.4M 12.3K shares
F First American Bank Institution	$1.4M 12.1K shares
Summit Trail Advisors, LLC RIA/Wealth	$783.5K 6.9K shares

Exited Positions

Institution	Previous Position
Clean Energy Transition LLP Hedge Fund•Long/Short	$35.7M 324.8K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$28.9M 262.5K shares
Sourcerock Group LLC Hedge Fund•Long/Short	$17.7M 160.6K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$15.4M 139.7K shares
T Tribune Investment Group LP Hedge Fund•Event Driven	$9.5M 86.0K shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	$7.6M 69.1K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$6.8M 61.5K shares
Empowered Funds, LLC ETF Provider	$6.6M 59.8K shares
C Candelo Capital Management LP Hedge Fund•Long/Short	$5.9M 53.5K shares
Edgestream Partners, L.P. Hedge Fund•Quant Macro	$5.6M 50.7K shares

Options Activity

Institutions with the largest Call and Put options positions in DTM as of Q3 2025

Call Positions: 5
Call Value: $8.4M
Put Positions: 3
Put Value: $689.7K

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$4.0M 353.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$3.1M 276.0 contracts
J JANE STREET GROUP, LLC Institution	$915.8K 81.0 contracts
W WOLVERINE TRADING, LLC Institution	$361.8K 32.0 contracts
C Cubist Systematic Strategies, LLC Institution	- - contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$452.2K 40.0 contracts
J JANE STREET GROUP, LLC Institution	$237.4K 21.0 contracts
C Cubist Systematic Strategies, LLC Institution	- - contracts

Most Committed Institutions

Institutions with DTM as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
5 59 North Capital Management, LP Hedge Fund•Long/Short	Michael Richard Bilger Managing Partner	10.83% $347.6M	3.03% 3.1M shares	Q2 2025 Held for 5 months	$3.2B
Yost Capital Management, L.L.C. Hedge Fund•Long/Short	Jason Kyle Knutson CFO	6.87% $5.7M	0.05% 50.0K shares	Q3 2025 Held for 2 months	$82.3M
CUSHING MLP ASSET MANAGEMENT, LP Long Only Manager	John Marshall Musgrave CEO	4.36% $76.8M	0.67% 679.3K shares	Q3 2021 Held for 4y 2m	$1.8B
Amplify Investments, LLC ETF Provider	William Belden President	4.11% $158.3K	0.00% 1.4K shares	Q2 2025 Held for 5 months	$3.9M
TORTOISE CAPITAL ADVISORS, L.L.C. Real Assets	Thomas Ibberson Florence CEO	3.93% $304.7M	2.65% 2.7M shares	Q3 2021 Held for 4y 2m	$7.8B
Fractal Investments LLC Long Only Manager	Chun Cao Managing Partner	3.77% $26.1M	0.23% 231.0K shares	Q4 2021 Held for 3y 11m	$693.0M
Recurrent Investment Advisors LLC Long Only Manager	Bradley Richard Olsen Managing Partner	3.05% $39.8M	0.35% 352.0K shares	Q2 2024 Held for 1y 5m	$1.3B
Merewether Investment Management, LP Hedge Fund•Sector	Rodney W. J. Saddington CEO	2.71% $113.1M	0.98% 1.0M shares	Q1 2025 Held for 8 months	$4.2B
Energy Income Partners, LLC Long Only Manager	James Jarvis Murchie CEO	2.19% $113.7M	0.99% 1.0M shares	Q3 2021 Held for 4y 2m	$5.2B
E EAGLE GLOBAL ADVISORS LLC Hedge Fund•Multi-Strategy	John Fernando Gualy Managing Partner	2.19% $57.1M	0.50% 505.5K shares	Q3 2023 Held for 2y 2m	$2.6B

Hedge Fund Spotlight

Discover hedge funds investing in DTM

Freestone Grove Partners LP

Hedge Fund • Multi-Strategy

Portfolio ManagerTodd Keefe Barker

Portfolio Value: $13.5B
Positions: 680
Last Reported: Q3 2025

Sector Allocation

Position in DT Midstream

Market Value: $12.8M
Shares Held: 113.5K
Portfolio Weight: 0.10%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 Vanguard S&P 500 ETF VOO	ETF ETF	$828.1M	6.16%
2 iShares Core S&P 500 ETF IVV	ETF ETF	$201.2M	1.50%
3 Weyerhaeuser WY	REIT - Specialty Real Estate	$166.0M	1.23%