Advanced Drainage Systems

WMS • NYSE

Advanced Drainage Systems is a construction company in the industrials sector on NYSE, led by D. Scott Barbour, with a market cap of $11.6B. As of Q3 2025, 92% of shares are held by 483 institutional investors, with VANGUARD GROUP INC as the largest holder at 9.62%.

President and Chief Executive OfficerD. Scott Barbour

Market Cap$11.6B

Construction

Industrials

Employees5.7K

Websiteadspipe.com

Country

United States of America

Overview

Overview of institutional ownership in WMS as of Q3 2025 with a market cap of $10.8B

All Institutions

Institutions: 483
Value Held: $9.9B
Shares Held: 71.3M
Avg Position: $20.5M
Median Position: $1.0M

Hedge Funds

Hedge Funds: 44
Value Held: $922.0M
Shares Held: 6.6M
Avg Position: $21.0M
Median Position: $2.8M

Ownership Breakdown

Institutional (non-HF)

83.13%

$9.0B

Hedge Funds

8.55%

$922.0M

Retail & Other

8.32%

$897.3M

Based on market cap of $10.8B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in WMS as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$1.0B 0.02% of portfolio	9.62% 7.5M shares	Q3 2014 Held for 11y 2m	$6.69T
B BlackRock, Inc. Institution	-	$976.8M 0.02% of portfolio	9.06% 7.0M shares	Q3 2014 Held for 11y 2m	$5.67T
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	James Poucher CEO	$390.0M 0.08% of portfolio	3.62% 2.8M shares	Q4 2017 Held for 7y 11m	$460.61B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$353.9M 0.01% of portfolio	3.28% 2.6M shares	Q3 2014 Held for 11y 2m	$2.88T
I Impax Asset Management Group plc Long Only Manager	Moise Nmn Piram President	$345.8M 2.02% of portfolio	3.22% 2.5M shares	Q3 2018 Held for 7y 2m	$17.1B
FIRST TRUST ADVISORS LP ETF Provider	James Allen Bowen CEO	$335.2M 0.25% of portfolio	3.11% 2.4M shares	Q4 2016 Held for 8y 11m	$134.11B
B BAILLIE GIFFORD & CO Institution	-	$332.2M 0.25% of portfolio	3.08% 2.4M shares	Q4 2022 Held for 2y 11m	$134.80B
Pictet Asset Management Holding SA Long Only Manager	Elizabeth Retta Dillon CEO	$287.3M 0.28% of portfolio	2.66% 2.1M shares	Q3 2023 Held for 2y 2m	$103.68B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$277.5M 0.02% of portfolio	2.57% 2.0M shares	Q3 2014 Held for 11y 2m	$1.65T
I Impactive Capital LP Hedge Fund•Activist	James William Garrett CFO	$230.8M 11.10% of portfolio	2.14% 1.7M shares	Q2 2025 Held for 5 months	$2.1B

Net Capital Flow

Institutional buying and selling activity for WMS in Q3 2025

Traded: +$24.0M
Buyers: 237
Sellers: 231
Total Bought: +$846.8M
Total Sold: −$822.8M
Avg Position: $18.4M

Biggest Buyers

Institution	Net Bought	Current Position
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$115.5M +832.9K shares	$164.9M 1.2M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$71.7M +516.7K shares	$86.2M 621.2K shares
Interval Partners, LLC Hedge Fund•Long/Short	+$66.5M +479.4K shares	$134.3M 968.5K shares
SG Capital Management LLC Hedge Fund•Event Driven	+$45.6M +328.7K shares	$45.6M 328.7K shares
MORGAN STANLEY RIA/Wealth	+$45.3M +326.7K shares	$277.5M 2.0M shares
WESTWOOD HOLDINGS GROUP INC Institution	+$36.6M +263.7K shares	$71.5M 515.2K shares
FRANKLIN RESOURCES INC Institution	+$33.9M +244.2K shares	$39.6M 285.8K shares
C Capital International Investors Institution	+$33.5M +241.5K shares	$129.5M 933.9K shares
FIRST TRUST ADVISORS LP ETF Provider	+$33.0M +238.2K shares	$335.2M 2.4M shares
Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy	+$30.2M +217.9K shares	$89.1M 642.2K shares

Biggest Sellers

Institution	Net Sold	Current Position
S Swedbank AB Institution	−$141.3M −1.0M shares	$50.1M 361.2K shares
I Impax Asset Management Group plc Long Only Manager	−$75.2M −543.8K shares	$345.8M 2.5M shares
Pictet Asset Management Holding SA Long Only Manager	−$73.8M −532.4K shares	$287.3M 2.1M shares
A Amundi Institution	−$61.6M −443.3K shares	$98.3M 707.4K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$41.7M −300.8K shares	$390.0M 2.8M shares
Z Zimmer Partners, LP Hedge Fund•Long/Short	−$31.0M −270.0K shares	Sold Off 0 shares
S Squarepoint Ops LLC Hedge Fund•Quant	−$29.9M −215.3K shares	$6.3M 45.3K shares
R Rathbone Brothers plc RIA/Wealth	−$19.4M −139.8K shares	$21.8M 157.2K shares
C CANADA PENSION PLAN INVESTMENT BOARD Institution	−$18.4M −132.7K shares	$77.9M 561.4K shares
AMERIPRISE FINANCIAL INC Institution	−$16.6M −119.8K shares	$78.1M 562.6K shares

Entry and Exit Activity

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

New Positions: 27
New Value: $66.2M
Exited Positions: 52
Exited Value: $124.0M

New Positions

Institution	Position Value
M Mediolanum International Funds Ltd Institution	$24.3M 176.2K shares
H Hill City Capital, LP Hedge Fund•Value	$20.8M 150.0K shares
K KEMPEN CAPITAL MANAGEMENT N.V. Institution	$10.6M 76.6K shares
Advisors Capital Management, LLC RIA/Wealth	$4.4M 32.0K shares
SummitTX Capital, L.P. Hedge Fund•Multi-Strategy	$1.5M 10.9K shares
C CAPITAL INTERNATIONAL S A Institution	$1.3M 9.4K shares
Bayforest Capital Ltd Hedge Fund•Quant	$795.3K 5.7K shares
WORLDQUANT MILLENNIUM QUANTITATIVE STRATEGIES LLC Hedge Fund•Multi-Strategy	$707.5K 5.1K shares
F First Eagle Investment Management, LLC Long Only Manager	$568.7K 4.1K shares
TradeLink Capital LLC Hedge Fund•Event Driven	$509.7K 3.7K shares

Exited Positions

Institution	Previous Position
Z Zimmer Partners, LP Hedge Fund•Long/Short	$31.0M 270.0K shares
A AXA Institution	$15.3M 133.3K shares
F FERNBRIDGE CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	$15.0M 130.6K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$11.3M 98.0K shares
Trexquant Investment LP Hedge Fund•Quant	$8.2M 71.4K shares
H HRT FINANCIAL LLC Institution	$7.3M 63.6K shares
L Lodge Hill Capital, LLC Hedge Fund•Long/Short	$6.8M 58.8K shares
T TWINBEECH CAPITAL LP Hedge Fund•Quant	$5.6M 49.0K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$5.5M 47.8K shares
L La Banque Postale Asset Management SA Institution	$2.6M 22.6K shares

Options Activity

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

Call Positions: 10
Call Value: $28.5M
Put Positions: 8
Put Value: $12.4M

Call Positions

Institution	Position Value
S SCOPUS ASSET MANAGEMENT, L.P. Hedge Fund•Long/Short	$18.0M 1.3K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$5.7M 408.0 contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$1.9M 136.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.8M 130.0 contracts
J JANE STREET GROUP, LLC Institution	$665.8K 48.0 contracts
W WOLVERINE TRADING, LLC Institution	$317.4K 23.0 contracts
Walleye Trading LLC RIA/Wealth	$97.1K 7.0 contracts
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	- - contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	- - contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
S SCOPUS ASSET MANAGEMENT, L.P. Hedge Fund•Long/Short	$8.3M 600.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.7M 123.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.3M 92.0 contracts
Walleye Trading LLC RIA/Wealth	$499.3K 36.0 contracts
J JANE STREET GROUP, LLC Institution	$291.3K 21.0 contracts
W WOLVERINE TRADING, LLC Institution	$289.8K 21.0 contracts
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	- - contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	- - contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Owls Nest Partners IA, LLC Hedge Fund•Value	David C Ferreira President	11.70% $42.1M	0.39% 303.5K shares	Q4 2024 Held for 11 months	$359.8M
I Impactive Capital LP Hedge Fund•Activist	James William Garrett CFO	11.10% $230.8M	2.14% 1.7M shares	Q2 2025 Held for 5 months	$2.1B
ACK Asset Management LLC Hedge Fund•Long/Short	John Henry Reilly Managing Partner	6.44% $54.1M	0.50% 390.0K shares	Q2 2025 Held for 5 months	$839.5M
T Triodos Investment Management BV Institution	-	5.48% $75.7M	0.70% 546.0K shares	Q4 2020 Held for 4y 11m	$1.4B
SG Capital Management LLC Hedge Fund•Event Driven	Glen Schneider President	4.57% $45.6M	0.42% 328.7K shares	Q3 2025 Held for 2 months	$998.2M
TradeLink Capital LLC Hedge Fund•Event Driven	Steven Wesley Wolf CEO	4.24% $509.7K	0.00% 3.7K shares	Q3 2025 Held for 2 months	$12.0M
Alpine Peaks Capital, LP Hedge Fund•Long/Short	Jennifer Ralph Oppold Managing Partner	3.93% $4.5M	0.04% 32.5K shares	Q1 2024 Held for 1y 8m	$114.7M
MIG Capital, LLC Hedge Fund•Long/Short	Richard Paul Merage CEO	3.66% $24.9M	0.23% 179.9K shares	Q1 2019 Held for 6y 8m	$682.0M
PRENTISS SMITH & CO INC RIA/Wealth	Karlie Packard Borst President	3.38% $6.0M	0.06% 43.2K shares	Q1 2023 Held for 2y 8m	$177.1M
Interval Partners, LLC Hedge Fund•Long/Short	Raymond Peter Fernandez President	2.86% $134.3M	1.25% 968.5K shares	Q1 2025 Held for 8 months	$4.7B

Hedge Fund Spotlight

Discover hedge funds investing in WMS

AQR CAPITAL MANAGEMENT LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerDavid Gary Kabiller

Portfolio Value: $156.17B
Positions: 3,453
Last Reported: Q3 2025

Sector Allocation

Position in Advanced Drainage Systems

Market Value: $1.6M
Shares Held: 11.5K
Portfolio Weight: 0.00%
Owned Since: 2024-Q2

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