i3 Verticals, Inc.

IIIV • NASDAQ

i3 Verticals, Inc. is a software - infrastructure company in the technology sector on NASDAQ, led by Gregory Daily, with a market cap of $610.1M. As of Q3 2025, 114% of shares are held by 164 institutional investors, with T. Rowe Price Investment Management, Inc. as the largest holder at 13.21%.

CEOGregory Daily

Market Cap$610.1M

Software - Infrastructure

Technology

Employees1.7K

Websitei3verticals.com

Country

United States of America

Overview

Overview of institutional ownership in IIIV as of Q3 2025 with a market cap of $775.0M

All Institutions

Institutions: 164
Value Held: $884.1M
Shares Held: 27.2M
Avg Position: $5.4M
Median Position: $630.1K

Hedge Funds

Hedge Funds: 11
Value Held: $83.9M
Shares Held: 2.6M
Avg Position: $7.6M
Median Position: $2.0M

Ownership Breakdown

Institutional (non-HF)

103.24%

$800.2M

Hedge Funds

10.83%

$83.9M

Retail & Other

Based on market cap of $775.0M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in IIIV as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$102.4M 0.06% of portfolio	13.21% 3.2M shares	Q1 2025 Held for 8 months	$161.58B
GENEVA CAPITAL MANAGEMENT LTD/WI Long Only Manager	Jose Manuel Munoz Quiroga Managing Partner	$61.1M 1.05% of portfolio	7.88% 1.9M shares	Q1 2020 Held for 5y 8m	$5.8B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$59.4M 0.00% of portfolio	7.67% 1.8M shares	Q2 2018 Held for 7y 5m	$6.69T
B BlackRock, Inc. Institution	-	$58.4M 0.00% of portfolio	7.54% 1.8M shares	Q2 2018 Held for 7y 5m	$5.67T
A AltraVue Capital, LLC RIA/Wealth	Touk Sinantha Founder	$37.9M 3.14% of portfolio	4.89% 1.2M shares	Q4 2024 Held for 11 months	$1.2B
Long Path Partners LP Private Equity	William Brennan Managing Partner	$33.8M 12.20% of portfolio	4.36% 1.0M shares	Q2 2024 Held for 1y 5m	$276.6M
Ranger Investment Management, L.P. Long Only Manager	Andrew Ferguson Hill President	$31.0M 2.16% of portfolio	4.00% 956.2K shares	Q4 2018 Held for 6y 11m	$1.4B
JENNISON ASSOCIATES LLC Long Only Manager	Jeffrey Todd Becker CEO	$30.5M 0.02% of portfolio	3.93% 938.9K shares	Q2 2025 Held for 5 months	$171.73B
CROSSLINK CAPITAL INC Venture Capital	Michael Joseph Stark President	$30.5M 2.21% of portfolio	3.93% 938.1K shares	Q2 2018 Held for 7y 5m	$1.4B
PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. Long Only Manager	Andrew John Matysik CEO	$25.2M 1.48% of portfolio	3.26% 777.5K shares	Q1 2025 Held for 8 months	$1.7B

Net Capital Flow

Institutional buying and selling activity for IIIV in Q3 2025

Traded: −$40.5M
Buyers: 87
Sellers: 68
Total Bought: +$84.9M
Total Sold: −$125.4M
Avg Position: $4.9M

Biggest Buyers

Institution	Net Bought	Current Position
JENNISON ASSOCIATES LLC Long Only Manager	+$25.3M +778.6K shares	$30.5M 938.9K shares
12th Street Asset Management Company, LLC Hedge Fund•Value	+$12.2M +375.2K shares	$19.8M 609.9K shares
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	+$3.6M +111.9K shares	$5.9M 180.7K shares
THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager	+$3.5M +107.5K shares	$21.3M 655.1K shares
OPPENHEIMER ASSET MANAGEMENT INC. RIA/Wealth	+$3.3M +101.7K shares	$3.3M 101.7K shares
MUTUAL OF AMERICA CAPITAL MANAGEMENT CORP Long Only Manager	+$3.1M +96.9K shares	$3.1M 96.9K shares
A Arrowpoint Asset Management, LLC Hedge Fund•Multi-Strategy	+$3.1M +94.9K shares	$8.3M 254.7K shares
M Manatuck Hill Partners, LLC Hedge Fund•Long/Short	+$2.9M +90.0K shares	$4.2M 130.0K shares
T TECTONIC ADVISORS LLC RIA/Wealth	+$2.9M +88.8K shares	$2.9M 88.8K shares
A ATRIA INVESTMENTS LLC Institution	+$2.2M +68.3K shares	$2.2M 68.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
Visualize Group LP Hedge Fund•Multi-Strategy	−$55.0M −294.7K shares	Sold Off 0 shares
HARBOR CAPITAL ADVISORS, INC. ETF Provider	−$10.6M −327.1K shares	$4.1M 127.6K shares
CROSSLINK CAPITAL INC Venture Capital	−$10.2M −314.3K shares	$30.5M 938.1K shares
Portolan Capital Management, LLC Hedge Fund•Long/Short	−$6.9M −214.0K shares	$24.3M 747.7K shares
Ranger Investment Management, L.P. Long Only Manager	−$6.2M −190.0K shares	$31.0M 956.2K shares
CRAMER ROSENTHAL MCGLYNN LLC Long Only Manager	−$5.4M −167.0K shares	$3.8M 117.4K shares
CONFLUENCE INVESTMENT MANAGEMENT LLC Long Only Manager	−$5.0M −154.1K shares	$3.2M 98.6K shares
P Palogic Value Management, L.P. RIA/Wealth	−$3.3M −120.0K shares	Sold Off 0 shares
H HEARTLAND ADVISORS INC Long Only Manager	−$3.3M −101.4K shares	$17.7M 545.2K shares
R Russell Investments Group, Ltd. RIA/Wealth	−$3.0M −91.3K shares	$9.6M 294.3K shares

Entry and Exit Activity

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

New Positions: 20
New Value: $17.4M
Exited Positions: 17
Exited Value: $62.4M

New Positions

Institution	Position Value
OPPENHEIMER ASSET MANAGEMENT INC. RIA/Wealth	$3.3M 101.7K shares
MUTUAL OF AMERICA CAPITAL MANAGEMENT CORP Long Only Manager	$3.1M 96.9K shares
T TECTONIC ADVISORS LLC RIA/Wealth	$2.9M 88.8K shares
A ATRIA INVESTMENTS LLC Institution	$2.2M 68.3K shares
Cetera Investment Advisers RIA/Wealth	$1.0M 31.2K shares
Vident Advisory, LLC ETF Provider	$800.5K 24.7K shares
Gotham Asset Management, LLC Hedge Fund•Long/Short	$586.5K 18.1K shares
Coyle Financial Counsel, Inc. RIA/Wealth	$541.2K 16.7K shares
S STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM Institution	$491.9K 15.2K shares
Simplicity Wealth,LLC RIA/Wealth	$491.0K 15.1K shares

Exited Positions

Institution	Previous Position
Visualize Group LP Hedge Fund•Multi-Strategy	$55.0M 294.7K shares
P Palogic Value Management, L.P. RIA/Wealth	$3.3M 120.0K shares
A AMERICAN CENTURY COMPANIES INC Institution	$965.6K 35.1K shares
THOMPSON SIEGEL & WALMSLEY LLC Long Only Manager	$822.3K 29.9K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$776.4K 28.3K shares
A AXQ CAPITAL, LP Hedge Fund•Market Neutral	$519.1K 18.9K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	$329.8K 12.0K shares
Sequoia Financial Advisors, LLC RIA/Wealth	$281.5K 10.2K shares
AlTi Global, Inc. Institution	$240.5K 8.8K shares
G GROUP ONE TRADING, L.P. Institution	$76.3K 2.8K shares

Options Activity

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

Call Positions: 3
Call Value: $1.8M
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.3M 397.0 contracts
J JANE STREET GROUP, LLC Institution	$516.1K 159.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Long Path Partners LP Private Equity	William Brennan Managing Partner	12.20% $33.8M	4.36% 1.0M shares	Q2 2024 Held for 1y 5m	$276.6M
F Forager Capital Management, LLC Hedge Fund•Value	Edward Urban Kissel Managing Partner	9.52% $21.6M	2.79% 665.0K shares	Q4 2024 Held for 11 months	$226.7M
12th Street Asset Management Company, LLC Hedge Fund•Value	David Andrew Shipman Member	3.15% $19.8M	2.55% 609.9K shares	Q2 2025 Held for 5 months	$628.0M
A AltraVue Capital, LLC RIA/Wealth	Touk Sinantha Founder	3.14% $37.9M	4.89% 1.2M shares	Q4 2024 Held for 11 months	$1.2B
Cove Street Capital, LLC Hedge Fund•Value	Matthew James Weber President	2.58% $2.0M	0.25% 60.2K shares	Q4 2024 Held for 11 months	$75.9M
CROSSLINK CAPITAL INC Venture Capital	Michael Joseph Stark President	2.21% $30.5M	3.93% 938.1K shares	Q2 2018 Held for 7y 5m	$1.4B
Ranger Investment Management, L.P. Long Only Manager	Andrew Ferguson Hill President	2.16% $31.0M	4.00% 956.2K shares	Q4 2018 Held for 6y 11m	$1.4B
M Manatuck Hill Partners, LLC Hedge Fund•Long/Short	Mark Allen Broach Managing Partner	1.49% $4.2M	0.54% 130.0K shares	Q2 2025 Held for 5 months	$282.7M
PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. Long Only Manager	Andrew John Matysik CEO	1.48% $25.2M	3.26% 777.5K shares	Q1 2025 Held for 8 months	$1.7B
Portolan Capital Management, LLC Hedge Fund•Long/Short	George Frederic Mccabe CIO	1.31% $24.3M	3.13% 747.7K shares	Q1 2022 Held for 3y 8m	$1.8B

Hedge Fund Spotlight

Discover hedge funds investing in IIIV

Cove Street Capital, LLC

Hedge Fund • Value

Portfolio ManagerMatthew James Weber

Portfolio Value: $75.9M
Positions: 93
Last Reported: Q3 2025

Sector Allocation

Position in i3 Verticals, Inc.

Market Value: $2.0M
Shares Held: 60.2K
Portfolio Weight: 2.58%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 American Vanguard AVD	Agricultural Inputs Basic Materials	$8.0M	10.58%
2 Research Solutions RSSS	Software - Application Technology	$5.0M	6.56%
3 Six Flags Entertainment FUN	Leisure Consumer Cyclical	$4.6M	6.12%