MGE Energy

MGEE • NASDAQ

MGE Energy is a diversified utilities company in the utilities sector on NASDAQ, led by Jeffrey M. Keebler, with a market cap of $2.9B. As of Q3 2025, 60% of shares are held by 299 institutional investors, with BlackRock, Inc. as the largest holder at 15.49%.

President and Chief Executive OfficerJeffrey M. Keebler

Market Cap$2.9B

Diversified Utilities

Utilities

Employees719.0

Websitemgeenergy.com

Country

United States of America

Overview

Overview of institutional ownership in MGEE as of Q3 2025 with a market cap of $3.1B

All Institutions

Institutions: 299
Value Held: $1.8B
Shares Held: 21.9M
Avg Position: $6.2M
Median Position: $439.4K

Hedge Funds

Hedge Funds: 28
Value Held: $49.6M
Shares Held: 589.6K
Avg Position: $1.8M
Median Position: $891.4K

Ownership Breakdown

Institutional (non-HF)

58.21%

$1.8B

Hedge Funds

1.61%

$49.6M

Retail & Other

40.18%

$1.2B

Based on market cap of $3.1B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in MGEE as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$476.4M 0.01% of portfolio	15.49% 5.7M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$383.4M 0.01% of portfolio	12.46% 4.6M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$162.0M 0.01% of portfolio	5.27% 1.9M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$77.3M 0.00% of portfolio	2.51% 918.3K shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	David Craig Brown CEO	$63.3M 0.04% of portfolio	2.06% 751.6K shares	Q2 2015 Held for 10y 5m	$158.22B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$59.4M 0.01% of portfolio	1.93% 705.8K shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
FIRST TRUST ADVISORS LP ETF Provider	James Allen Bowen CEO	$43.0M 0.03% of portfolio	1.40% 511.4K shares	≤ Q2 2013 Held for 12y 5m+	$134.11B
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	Omar Aguilar Chavez CEO	$36.0M 0.01% of portfolio	1.17% 427.2K shares	≤ Q2 2013 Held for 12y 5m+	$620.51B
NORTHERN TRUST CORP Institution	Michael G. O'Grady CEO	$31.4M 0.00% of portfolio	1.02% 372.8K shares	≤ Q2 2013 Held for 12y 5m+	$782.01B
Bank of New York Mellon Corp Institution	Robin Vince CEO	$28.8M 0.01% of portfolio	0.94% 342.6K shares	≤ Q2 2013 Held for 12y 5m+	$556.34B

Net Capital Flow

Institutional buying and selling activity for MGEE in Q3 2025

Traded: −$43.2M
Buyers: 142
Sellers: 116
Total Bought: +$55.0M
Total Sold: −$98.2M
Avg Position: $5.8M

Biggest Buyers

Institution	Net Bought	Current Position
Q Qube Research & Technologies Ltd Institution	+$8.6M +101.6K shares	$13.7M 162.2K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$4.4M +52.0K shares	$6.8M 80.8K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$2.9M +35.0K shares	$4.1M 48.8K shares
JPMORGAN CHASE & CO Institution	+$2.3M +27.9K shares	$7.1M 84.7K shares
GOLDMAN SACHS GROUP INC Institution	+$2.0M +24.1K shares	$16.6M 197.3K shares
SPEECE THORSON CAPITAL GROUP INC Long Only Manager	+$2.0M +23.4K shares	$11.4M 135.6K shares
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	+$1.6M +19.3K shares	$1.6M 19.3K shares
J JANE STREET GROUP, LLC Institution	+$1.6M +18.9K shares	$4.6M 54.7K shares
P PUBLIC SECTOR PENSION INVESTMENT BOARD Institution	+$1.5M +18.0K shares	$12.0M 142.5K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	+$1.4M +16.8K shares	$8.2M 97.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
T T. Rowe Price Investment Management, Inc. Insurance Manager	−$28.0M −316.3K shares	Sold Off 0 shares
BARCLAYS PLC Institution	−$13.4M −159.0K shares	$9.1M 107.8K shares
Invesco Ltd. ETF Provider	−$10.1M −120.0K shares	$10.0M 118.8K shares
N Nuveen, LLC Institution	−$4.8M −56.7K shares	$13.4M 159.0K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$4.0M −47.5K shares	$6.1M 73.0K shares
CITIGROUP INC Institution	−$3.4M −40.0K shares	$1.1M 13.2K shares
Marshall Wace LLP Institution	−$2.7M −32.1K shares	$7.3M 86.7K shares
VANGUARD GROUP INC Institution	−$2.2M −25.9K shares	$383.4M 4.6M shares
B BlackRock, Inc. Institution	−$2.0M −24.1K shares	$476.4M 5.7M shares
STATE STREET CORP Institution	−$1.8M −21.7K shares	$162.0M 1.9M shares

Entry and Exit Activity

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

New Positions: 17
New Value: $3.1M
Exited Positions: 20
Exited Value: $34.2M

New Positions

Institution	Position Value
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	$721.6K 8.6K shares
ARMISTICE CAPITAL, LLC Hedge Fund•Long/Short	$542.5K 6.4K shares
Morningstar Investment Management LLC Long Only Manager	$389.8K 4.6K shares
D DRW Securities, LLC Institution	$313.2K 3.7K shares
Institute for Wealth Management, LLC. RIA/Wealth	$294.8K 3.5K shares
Beacon Pointe Advisors, LLC RIA/Wealth	$223.2K 2.7K shares
Ellenbecker Investment Group RIA/Wealth	$206.7K 2.5K shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	$202.6K 2.4K shares
ISAM Funds Ltd Hedge Fund•Quant	$118.9K 1.4K shares
S Salomon & Ludwin, LLC Institution	$23.2K 281.0 shares

Exited Positions

Institution	Previous Position
T T. Rowe Price Investment Management, Inc. Insurance Manager	$28.0M 316.3K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$1.4M 15.9K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$730.7K 8.3K shares
X XTX Topco Ltd Institution	$547.6K 6.2K shares
CAPSTONE INVESTMENT ADVISORS, LLC Hedge Fund•Multi-Strategy	$485.7K 5.5K shares
LOS ANGELES CAPITAL MANAGEMENT & EQUITY RESEARCH INC Long Only Manager	$474.1K 5.4K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$416.0K 4.7K shares
V Virtu Financial LLC Institution	$409.5K 4.6K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	$307.5K 3.5K shares
SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC Hedge Fund•Distressed	$280.8K 3.2K shares

Options Activity

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

Call Positions: 0
Call Value: -
Put Positions: 1
Put Value: $471.4K

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
J JANE STREET GROUP, LLC Institution	$471.4K 56.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
SPEECE THORSON CAPITAL GROUP INC Long Only Manager	Matthew Jeremy Weight Director	2.28% $11.4M	0.37% 135.6K shares	Q4 2023 Held for 1y 11m	$500.5M
Park Capital Management, LLC / WI RIA/Wealth	Clinton Lee Bauch CEO	0.91% $1.1M	0.04% 13.5K shares	Q4 2024 Held for 11 months	$125.0M
Caitlin John, LLC RIA/Wealth	Ronald John Briggs Owner	0.63% $897.2K	0.03% 10.7K shares	Q3 2024 Held for 1y 2m	$143.4M
Madison Wealth Partners, Inc RIA/Wealth	Mark Peter Mcfarland CEO	0.49% $2.5M	0.08% 29.5K shares	Q4 2020 Held for 4y 11m	$505.5M
MBE Wealth Management, LLC RIA/Wealth	Joseph Lee Berry CCO	0.36% $831.5K	0.03% 9.9K shares	Q4 2019 Held for 5y 11m	$228.7M
F FIRST BUSINESS FINANCIAL SERVICES, INC. Pension/Endowment	William Michael Tremko CEO	0.34% $3.7M	0.12% 44.4K shares	Q1 2020 Held for 5y 8m	$1.1B
ICW Investment Advisors LLC RIA/Wealth	Vincent Harl Rossi President	0.28% $780.3K	0.03% 9.3K shares	Q4 2019 Held for 5y 11m	$274.5M
E EntryPoint Capital, LLC Hedge Fund•Long/Short	Lawrence Edward Leibowitz CEO	0.26% $667.5K	0.02% 7.9K shares	Q2 2025 Held for 5 months	$258.4M
Wisconsin Wealth Advisors, LLC RIA/Wealth	Chris Allen Swenson Owner	0.25% $262.4K	0.01% 3.1K shares	Q4 2024 Held for 11 months	$104.1M
Tower View Investment Management & Research LLC RIA/Wealth	Raman John Ghei Founder	0.23% $439.0K	0.01% 5.2K shares	Q4 2017 Held for 7y 11m	$193.3M

Hedge Fund Spotlight

Discover hedge funds investing in MGEE

GSA CAPITAL PARTNERS LLP

Hedge Fund • Quant

Portfolio ManagerDavid Khabie-Zeitoune

Portfolio Value: $1.1B
Positions: 1,504
Last Reported: Q3 2025

Sector Allocation

Position in MGE Energy

Market Value: $1.6M
Shares Held: 19.3K
Portfolio Weight: 0.14%
Owned Since: 2024-Q3

Top Holding	Sector	Market Value	Weight
1 Accenture ACN	Information Technology Services Technology	$5.6M	0.50%
2 Sprouts Farmers Market SFM	Grocery Stores Consumer Defensive	$5.2M	0.46%
3 Microsoft MSFT	Software - Infrastructure Technology	$4.8M	0.43%