NextDecade Corporation

NEXT • NASDAQ

NextDecade Corporation is a oil & gas exploration & production company in the energy sector on NASDAQ, led by Matthew K. Schatzman, with a market cap of $1.4B. As of Q3 2025, 44% of shares are held by 188 institutional investors, with BlackRock, Inc. as the largest holder at 8.06%.

President and Chief Executive OfficerMatthew K. Schatzman

Market Cap$1.4B

Oil & Gas Exploration & Production

Energy

Employees147.0

Websitenext-decade.com

Country

United States of America

Overview

Overview of institutional ownership in NEXT as of Q3 2025 with a market cap of $1.8B

All Institutions

Institutions: 188
Value Held: $791.1M
Shares Held: 116.5M
Avg Position: $4.2M
Median Position: $356.7K

Hedge Funds

Hedge Funds: 31
Value Held: $131.7M
Shares Held: 19.4M
Avg Position: $4.2M
Median Position: $1.3M

Ownership Breakdown

Institutional (non-HF)

37.07%

$659.4M

Hedge Funds

7.4%

$131.7M

Retail & Other

55.53%

$987.8M

Based on market cap of $1.8B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in NEXT as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$143.3M 0.00% of portfolio	8.06% 21.1M shares	Q2 2018 Held for 7y 5m	$5.67T
M Mubadala Investment Co PJSC Institution	-	$96.5M 0.54% of portfolio	5.42% 14.2M shares	Q4 2023 Held for 1y 11m	$17.9B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$70.5M 0.00% of portfolio	3.96% 10.4M shares	Q3 2017 Held for 8y 2m	$6.69T
H Halcyon Management Partners LP Institution	-	$63.0M 79.38% of portfolio	3.54% 9.3M shares	Q2 2015 Held for 10y 5m	$79.3M
V VALINOR MANAGEMENT, LLC Institution	-	$32.2M 100.00% of portfolio	1.81% 4.7M shares	Q4 2022 Held for 2y 11m	$32.2M
C Catalyst Capital Advisors LLC Institution	Jerry John Szilagyi CEO	$31.5M 0.64% of portfolio	1.77% 4.6M shares	Q1 2021 Held for 4y 8m	$4.9B
York Capital Management Global Advisors, LLC Hedge Fund•Multi-Strategy	James Gerard Dinan Founder	$29.0M 88.19% of portfolio	1.63% 4.3M shares	Q3 2017 Held for 8y 2m	$32.8M
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$23.2M 0.00% of portfolio	1.30% 3.4M shares	Q3 2017 Held for 8y 2m	$1.57T
Y Yaupon Capital Management LP Hedge Fund•Multi-Strategy	Steven James Pattyn CIO	$22.8M 1.18% of portfolio	1.28% 3.4M shares	Q1 2023 Held for 2y 8m	$1.9B
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	Kenneth Cordele Griffin CEO	$20.5M 0.02% of portfolio	1.15% 3.0M shares	Q3 2021 Held for 4y 2m	$122.08B

Net Capital Flow

Institutional buying and selling activity for NEXT in Q3 2025

Traded: −$81.2M
Buyers: 103
Sellers: 81
Total Bought: +$62.2M
Total Sold: −$143.3M
Avg Position: $3.7M

Biggest Buyers

Institution	Net Bought	Current Position
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	+$6.6M +977.9K shares	$6.6M 977.9K shares
Q Qube Research & Technologies Ltd Institution	+$4.9M +726.8K shares	$4.9M 726.8K shares
GOLDMAN SACHS GROUP INC Institution	+$4.6M +675.5K shares	$6.4M 943.8K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	+$4.5M +661.0K shares	$6.2M 912.6K shares
S Squarepoint Ops LLC Hedge Fund•Quant	+$4.3M +639.5K shares	$5.4M 790.0K shares
CITIGROUP INC Institution	+$4.2M +625.7K shares	$4.6M 681.9K shares
J JANE STREET GROUP, LLC Institution	+$2.4M +359.0K shares	$2.8M 416.8K shares
H Halcyon Management Partners LP Institution	+$2.4M +357.0K shares	$63.0M 9.3M shares
N Nuveen, LLC Institution	+$2.4M +348.5K shares	$9.7M 1.4M shares
T TWINBEECH CAPITAL LP Hedge Fund•Quant	+$2.1M +316.0K shares	$2.1M 316.0K shares

Biggest Sellers

Institution	Net Sold	Current Position
V VALINOR MANAGEMENT, LLC Institution	−$25.2M −3.7M shares	$32.2M 4.7M shares
Wolf Hill Capital Management, LP Hedge Fund•Long/Short	−$19.4M −2.9M shares	$19.9M 2.9M shares
S SIR Capital Management, L.P. Hedge Fund•Long/Short	−$14.8M −1.7M shares	Sold Off 0 shares
BRIGHTLINE CAPITAL MANAGEMENT, LLC Hedge Fund•Value	−$12.9M −1.5M shares	Sold Off 0 shares
BANK OF AMERICA CORP /DE/ Institution	−$9.9M −1.5M shares	$11.2M 1.6M shares
A ADAGE CAPITAL PARTNERS GP LLC Institution	−$8.5M −1.3M shares	$2.0M 300.0K shares
RIPOSTE CAPITAL LLC Hedge Fund•Long/Short	−$6.7M −750.0K shares	Sold Off 0 shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	−$4.8M −707.8K shares	$1.4M 199.7K shares
S SCOGGIN LLC Hedge Fund•Event Driven	−$3.6M −400.0K shares	Sold Off 0 shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$3.3M −491.7K shares	$4.8M 707.8K shares

Entry and Exit Activity

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

New Positions: 20
New Value: $14.0M
Exited Positions: 22
Exited Value: $43.1M

New Positions

Institution	Position Value
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	$6.6M 977.9K shares
T TWINBEECH CAPITAL LP Hedge Fund•Quant	$2.1M 316.0K shares
MOODY ALDRICH PARTNERS LLC Long Only Manager	$1.2M 177.7K shares
N NATIXIS Institution	$1.2M 175.0K shares
MML INVESTORS SERVICES, LLC RIA/Wealth	$499.0K 73.5K shares
Holocene Advisors, LP Hedge Fund•Long/Short	$387.4K 57.1K shares
FourThought Financial Partners, LLC RIA/Wealth	$357.2K 52.6K shares
Scientech Research LLC Hedge Fund•Market Neutral	$304.9K 44.9K shares
Magnetar Financial LLC Hedge Fund•Multi-Strategy	$261.2K 38.5K shares
CONTRAVISORY INVESTMENT MANAGEMENT, INC. Long Only Manager	$194.5K 28.6K shares

Exited Positions

Institution	Previous Position
S SIR Capital Management, L.P. Hedge Fund•Long/Short	$14.8M 1.7M shares
BRIGHTLINE CAPITAL MANAGEMENT, LLC Hedge Fund•Value	$12.9M 1.5M shares
RIPOSTE CAPITAL LLC Hedge Fund•Long/Short	$6.7M 750.0K shares
S SCOGGIN LLC Hedge Fund•Event Driven	$3.6M 400.0K shares
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	$1.5M 169.9K shares
Walleye Trading LLC RIA/Wealth	$860.4K 96.6K shares
Y Y-Intercept Ltd Institution	$815.5K 91.5K shares
Harbour Capital Advisors, LLC Family Office	$711.9K 79.6K shares
A AMERICAN CENTURY COMPANIES INC Institution	$331.0K 37.1K shares
V Virtu Financial LLC Institution	$152.7K 17.1K shares

Options Activity

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

Call Positions: 12
Call Value: $15.1M
Put Positions: 7
Put Value: $8.5M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$5.6M 8.2K contracts
N NOMURA HOLDINGS INC Institution	$3.1M 4.5K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.3M 3.3K contracts
S SCOGGIN LLC Hedge Fund•Event Driven	$1.7M 2.5K contracts
W WOLVERINE TRADING, LLC Institution	$1.1M 1.6K contracts
J JANE STREET GROUP, LLC Institution	$729.2K 1.1K contracts
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$232.9K 343.0 contracts
Walleye Trading LLC RIA/Wealth	$182.7K 269.0 contracts
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$169.8K 250.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$113.4K 167.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$4.1M 6.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.6M 3.9K contracts
J JANE STREET GROUP, LLC Institution	$932.9K 1.4K contracts
W WOLVERINE TRADING, LLC Institution	$579.6K 834.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$245.1K 361.0 contracts
Walleye Trading LLC RIA/Wealth	$28.5K 42.0 contracts
P PEAK6 LLC Institution	- - contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
V VALINOR MANAGEMENT, LLC Institution	-	100.00% $32.2M	1.81% 4.7M shares	Q4 2022 Held for 2y 11m	$32.2M
York Capital Management Global Advisors, LLC Hedge Fund•Multi-Strategy	James Gerard Dinan Founder	88.19% $29.0M	1.63% 4.3M shares	Q3 2017 Held for 8y 2m	$32.8M
H Halcyon Management Partners LP Institution	-	79.38% $63.0M	3.54% 9.3M shares	Q2 2015 Held for 10y 5m	$79.3M
SL ADVISORS, LLC Long Only Manager	Simon Anthony Lack Managing Partner	12.39% $6.3M	0.35% 927.4K shares	Q1 2021 Held for 4y 8m	$50.8M
L LASRY MARC Institution	-	11.47% $1.7M	0.10% 254.3K shares	Q3 2023 Held for 2y 2m	$15.1M
Wolf Hill Capital Management, LP Hedge Fund•Long/Short	Gary Steven Lehrman Founder	1.75% $19.9M	1.12% 2.9M shares	Q2 2024 Held for 1y 5m	$1.1B
Y Yaupon Capital Management LP Hedge Fund•Multi-Strategy	Steven James Pattyn CIO	1.18% $22.8M	1.28% 3.4M shares	Q1 2023 Held for 2y 8m	$1.9B
ELCO Management Co., LLC Hedge Fund•Long/Short	Paul Elliot Managing Partner	0.74% $1.4M	0.08% 208.5K shares	Q4 2023 Held for 1y 11m	$191.4M
C Catalyst Capital Advisors LLC Institution	Jerry John Szilagyi CEO	0.64% $31.5M	1.77% 4.6M shares	Q1 2021 Held for 4y 8m	$4.9B
M Mubadala Investment Co PJSC Institution	-	0.54% $96.5M	5.42% 14.2M shares	Q4 2023 Held for 1y 11m	$17.9B