CMS Energy Corp

Index mechanics, not conviction, produced the biggest number in CMS Energy Corp's ownership data this quarter, which spans 101 institutional holders and $310.4 million in tracked value. The single largest move this quarter — Assenagon Asset Management's stake exploding from 4,906 to 518,237 shares, a $39.3 million flow — comes from a holder flagged quasi-passive in this dataset, meaning it most likely reflects index rebalancing rather than a discretionary utility-sector bet. Setting that aside, the real story is Fisher Funds Management's genuine sale: shares down 18.4% (a real $7.39 million reduction), the largest true reduction in the stock. The Commonwealth of Pennsylvania Public School Employees Retirement System also cut meaningfully (-9%, a real $3.70 million reduction), while Vaughan Nelson Investment Management, the largest overall holder at 25.4% of the book, stayed essentially flat (+0.5% shares).