KINDER MORGAN INC DEL KMI
COM · Common Stock · CUSIP 49456B101 · ISIN US49456B1017
- SectorUtilities
- IndustryNatural Gas Transmission
- HeadquartersHouston, TX
- Founded1997
- Websitekindermorgan.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($217.1m this quarter). Holder counts are more reliable. Shares outstanding: 2.2bn as of 2025-10-23, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $28.30. Options: 37 managers hold calls ($541.9m notional), 36 hold puts ($348.7m).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 1,297 |
| Q4 2022 | 1,329 |
| Q1 2023 | 1,305 |
| Q2 2023 | 1,310 |
| Q3 2023 | 1,342 |
| Q4 2023 | 1,388 |
| Q1 2024 | 1,370 |
| Q2 2024 | 1,394 |
| Q3 2024 | 1,420 |
| Q4 2024 | 1,602 |
| Q1 2025 | 1,646 |
| Q2 2025 | 1,670 |
| Q3 2025 | 1,680 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2023 | 608 | 638 |
| Q1 2024 | 663 | 633 |
| Q2 2024 | 668 | 611 |
| Q3 2024 | 691 | 613 |
| Q4 2024 | 723 | 645 |
| Q1 2025 | 777 | 731 |
| Q2 2025 | 802 | 702 |
| Q3 2025 | 806 | 720 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $906.0m | $765.2m | 0.84 |
| Q1 2025 | $853.9m | $670.6m | 0.79 |
| Q2 2025 | $562.1m | $390.4m | 0.69 |
| Q3 2025 | $541.9m | $348.7m | 0.64 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +29.4m |
| BlackRock, Inc. | Added | +9.9m |
| Squarepoint Ops LLC | Added | +5.5m |
| AQR CAPITAL MANAGEMENT LLC | Added | +5.3m |
| FMR LLC | Added | +4.8m |
| Zimmer Partners, LP | Added | +3.9m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +3.1m |
| Holocene Advisors, LP | New | +2.7m |
| Amundi | Added | +2.1m |
| HSBC HOLDINGS PLC | Added | +1.9m |
Biggest sellers
| Castle Hook Partners LP | Sold out | -10.0m |
| ROYAL BANK OF CANADA | Reduced | -8.1m |
| Orbis Allan Gray Ltd | Reduced | -7.8m |
| BERKLEY W R CORP | Reduced | -3.8m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -3.1m |
| CITADEL ADVISORS LLC | Reduced | -2.5m |
| Assenagon Asset Management S.A. | Reduced | -2.4m |
| Balyasny Asset Management L.P. | Reduced | -2.0m |
| Merewether Investment Management, LP | Reduced | -1.9m |
| MARSHALL WACE, LLP | Reduced | -1.9m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $138.0m4.9m shares |
| JANE STREET GROUP, LLC | Added | $57.1m2.0m shares |
| CITADEL ADVISORS LLC | Reduced | $44.7m1.6m shares |
| IMC-Chicago, LLC | Added | $32.4m1.1m shares |
| JPMORGAN CHASE & CO | Added | $30.0m1.1m shares |
| GOLDMAN SACHS GROUP INC | Reduced | $29.9m1.1m shares |
| SIMPLEX TRADING, LLC | Added | $21.8m770.2k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $17.4m616.2k shares |
| WOLVERINE TRADING, LLC | Added | $17.2m606.9k shares |
| UBS Group AG | Reduced | $16.8m593.3k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $88.8m3.1m shares |
| CITADEL ADVISORS LLC | Reduced | $44.7m1.6m shares |
| GOLDMAN SACHS GROUP INC | Reduced | $30.1m1.1m shares |
| UBS Group AG | Reduced | $27.6m973.4k shares |
| JPMORGAN CHASE & CO | Added | $24.5m867.0k shares |
| IMC-Chicago, LLC | Added | $14.5m511.0k shares |
| HSBC HOLDINGS PLC | Added | $12.4m437.1k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $9.7m343.2k shares |
| Parallax Volatility Advisers, L.P. | Reduced | $9.3m327.9k shares |
| Volterra Technologies LP | Added | $9.1m321.6k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 6.5% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q3 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2023 | 0 | — | 2 | $1.4m | — |
| Q1 2024 | 0 | — | 1 | $135.0k | $135.0k |
| Q2 2024 | 0 | — | 2 | $5.3m | — |
| Q3 2024 | 1 | $201.0k | 3 | $4.2m | — |
| Q4 2024 | 1 | $55.8k | 2 | $23.3m | $994.6k |
| Q1 2025 | 0 | — | 3 | $7.8m | $1.5m |
| Q2 2025 | 0 | — | 1 | $1.5m | $1.5m |
| Q3 2025 | 1 | $75.1k | 5 | $4.2m | $2.7m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-09-15 | Grahmann Kevin P V.P., Corporate Development | Sold | $659.0k23.9k shares |
| 2025-09-08 | Schlosser John W V.P. (President, Terminals) | Sold plan | $166.5k6.2k shares |
| 2025-08-11 | Sanders Dax Executive Vice President | Sold | $814.9k30.1k shares |
| 2025-08-05 | Schlosser John W V.P. (President, Terminals) | Sold plan | $171.5k6.2k shares |
| 2025-08-04 | Michels David Patrick VP and Chief Financial Officer | Sold plan | $1.1m40.0k shares |
| 2025-08-01 | Mody Sital K V.P. (Pres.,Nat Gas Pipelines) | Sold plan | $1.3m45.5k shares |
| 2025-07-28 | Chronis Amy W Director | Bought | $75.1k2.8k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.09% of their portfolio | 208.1m $5.9bn | Added +896.8k |
| BlackRock, Inc. 0.09% of their portfolio | 174.9m $5.0bn | Added +9.9m |
| STATE STREET CORP 0.11% of their portfolio | 114.3m $3.2bn | Reduced -583.4k |
| JPMORGAN CHASE & CO 0.06% of their portfolio | 64.7m $1.8bn | Added +29.4m |
| GEODE CAPITAL MANAGEMENT, LLC 0.10% of their portfolio | 52.9m $1.5bn | Added +1.1m |
| BANK OF AMERICA CORP /DE/ 0.11% of their portfolio | 51.9m $1.5bn | Reduced -655.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.14% of their portfolio | 29.9m $846.8m | Added +67.6k |
| MORGAN STANLEY 0.05% of their portfolio | 29.4m $832.0m | Reduced -1.3m |
| Invesco Ltd. 0.10% of their portfolio | 22.2m $627.5m | Added +216.0k |
| Blackstone Inc. 2.63% of their portfolio | 21.7m $615.6m | Added +304.3k |
| UBS Group AG 0.12% of their portfolio | 21.2m $601.0m | Added +1.4m |
| NORTHERN TRUST CORP 0.07% of their portfolio | 19.5m $552.8m | Reduced -298.9k |
| DIMENSIONAL FUND ADVISORS LP 0.10% of their portfolio | 16.6m $468.6m | Added +205.8k |
| Legal & General Group Plc 0.10% of their portfolio | 15.9m $449.5m | Added +213.7k |
| DEUTSCHE BANK AG\ 0.14% of their portfolio | 14.9m $423.2m | Added +1.3m |
| Orbis Allan Gray Ltd 1.81% of their portfolio | 14.9m $421.4m | Reduced -7.8m |
| GOLDMAN SACHS GROUP INC 0.06% of their portfolio | 14.0m $395.3m | Reduced -338.2k |
| WELLS FARGO & COMPANY/MN 0.07% of their portfolio | 12.8m $362.0m | Reduced -832.5k |
| Bank of New York Mellon Corp 0.06% of their portfolio | 12.7m $360.7m | Reduced -177.5k |
| KAYNE ANDERSON CAPITAL ADVISORS LP 7.77% of their portfolio | 12.5m $352.5m | Added +1.7m |
| Amundi 0.11% of their portfolio | 11.9m $331.9m | Added +2.1m |
| 59 North Capital Management, LP 10.03% of their portfolio | 11.4m $322.0m | Added +776.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.07% of their portfolio | 10.8m $307.0m | Reduced -3.1m |
| FMR LLC 0.01% of their portfolio | 9.7m $275.5m | Added +4.8m |
| Ensign Peak Advisors, Inc 0.45% of their portfolio | 9.7m $273.3m | Reduced -75.8k |
| TORTOISE CAPITAL ADVISORS, L.L.C. 3.27% of their portfolio | 9.0m $253.9m | Reduced -400.8k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.39% of their portfolio | 8.6m $243.5m | Reduced -215.9k |
| WESTWOOD HOLDINGS GROUP INC 1.70% of their portfolio | 8.4m $237.7m | Added +1.3m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 8.3m $233.8m | Added +3.1m |
| Clearbridge Investments, LLC 0.16% of their portfolio | 7.6m $215.6m | Reduced -20.9k |
| HSBC HOLDINGS PLC 0.12% of their portfolio | 7.2m $204.7m | Added +1.9m |
| Nuveen, LLC 0.05% of their portfolio | 6.8m $192.2m | Reduced -893.1k |
| AQR CAPITAL MANAGEMENT LLC 0.12% of their portfolio | 6.6m $186.0m | Added +5.3m |
| Energy Income Partners, LLC 3.49% of their portfolio | 6.4m $181.3m | Added +106.5k |
| ROYAL BANK OF CANADA 0.03% of their portfolio | 6.1m $172.8m | Reduced -8.1m |
| Assenagon Asset Management S.A. 0.25% of their portfolio | 6.1m $172.1m | Reduced -2.4m |
| Zimmer Partners, LP 4.20% of their portfolio | 6.1m $171.8m | Added +3.9m |
| Pictet Asset Management Holding SA 0.16% of their portfolio | 6.0m $170.3m | Added +738.7k |
| BESSEMER GROUP INC 0.26% of their portfolio | 6.0m $169.6m | Added +9.2k |
| Swiss National Bank 0.09% of their portfolio | 5.8m $163.2m | Reduced -288.8k |
| Squarepoint Ops LLC 0.34% of their portfolio | 5.6m $158.1m | Added +5.5m |
| California Public Employees Retirement System 0.09% of their portfolio | 5.4m $151.7m | Reduced -482.7k |
| RAYMOND JAMES FINANCIAL INC 0.05% of their portfolio | 5.0m $142.1m | Reduced -433.2k |
| ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio | 5.0m $141.4m | Added +128.5k |
| Sumitomo Mitsui Trust Group, Inc. 0.08% of their portfolio | 4.9m $139.3m | Added +162.9k |
| FIRST TRUST ADVISORS LP 0.10% of their portfolio | 4.9m $137.4m | Added +819.6k |
| BANK OF MONTREAL /CAN/ 0.06% of their portfolio | 4.6m $131.4m | Added +513.7k |
| LORD, ABBETT & CO. LLC 0.38% of their portfolio | 4.5m $128.6m | Added +252.4k |
| Bahl & Gaynor LLC 0.64% of their portfolio | 4.5m $128.5m | Reduced -166.7k |
| Focus Partners Wealth 0.21% of their portfolio | 4.5m $127.4m | Added +876.2k |
| PRINCIPAL FINANCIAL GROUP INC 0.06% of their portfolio | 4.4m $124.7m | Added +19.4k |
| MACQUARIE GROUP LTD 0.14% of their portfolio | 4.3m $122.5m | Added +863.0k |
| BARCLAYS PLC 0.04% of their portfolio | 4.2m $117.5m | Reduced -709.1k |
| National Pension Service 0.09% of their portfolio | 4.1m $117.1m | Added +72.4k |
| LPL Financial LLC 0.03% of their portfolio | 4.0m $114.3m | Added +19.1k |
| First Pacific Advisors, LP 1.57% of their portfolio | 4.0m $113.3m | Added +63.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.08% of their portfolio | 3.9m $111.3m | Added +193.2k |
| RHUMBLINE ADVISERS 0.09% of their portfolio | 3.9m $110.3m | Reduced -32.8k |
| CONFLUENCE INVESTMENT MANAGEMENT LLC 1.53% of their portfolio | 3.8m $107.4m | Reduced -47.6k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.08% of their portfolio | 3.5m $99.7m | Added +402.4k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 3.5m $99.6m | Added +358.0k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.47% of their portfolio | 3.3m $93.0m | Added +96.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.07% of their portfolio | 3.2m $89.6m | Reduced -786.4k |
| AVIVA PLC 0.15% of their portfolio | 3.0m $84.5m | Added +194.2k |
| ZACKS INVESTMENT MANAGEMENT 0.67% of their portfolio | 3.0m $84.3m | Added +11.9k |
| BERKLEY W R CORP 5.19% of their portfolio | 2.8m $80.3m | Reduced -3.8m |
| Advisors Capital Management, LLC 0.99% of their portfolio | 2.8m $80.3m | Added +71.6k |
| Mariner, LLC 0.10% of their portfolio | 2.8m $79.6m | Added +235.3k |
| Empower Advisory Group, LLC 0.22% of their portfolio | 2.8m $79.2m | Added +19.9k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.17% of their portfolio | 2.8m $79.0m | Added +370.2k |
| Merewether Investment Management, LP 1.87% of their portfolio | 2.8m $78.3m | Reduced -1.9m |
| Holocene Advisors, LP 0.18% of their portfolio | 2.7m $77.7m | New |
| Rockefeller Capital Management L.P. 0.15% of their portfolio | 2.7m $77.6m | Reduced -1.4m |
| CANADA LIFE ASSURANCE Co 0.11% of their portfolio | 2.7m $77.1m | Added +163.3k |
| Sound Shore Management Inc /CT/ 2.50% of their portfolio | 2.7m $75.6m | Added +29.9k |
| Alyeska Investment Group, L.P. 0.23% of their portfolio | 2.7m $75.3m | Reduced -1.3m |
| KING LUTHER CAPITAL MANAGEMENT CORP 0.31% of their portfolio | 2.6m $74.6m | Added +22.4k |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 4.23% of their portfolio | 2.6m $74.5m | Added +115.6k |
| KORNITZER CAPITAL MANAGEMENT INC /KS 1.50% of their portfolio | 2.6m $74.4m | Added +13.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.08% of their portfolio | 2.6m $74.2m | Reduced -75.2k |
| Fayez Sarofim & Co 0.17% of their portfolio | 2.5m $71.7m | Reduced -10.9k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.81% of their portfolio | 2.5m $71.7m | Added +54.9k |
| CITIGROUP INC 0.05% of their portfolio | 2.3m $66.2m | Added +172.9k |
| Brookfield Corp /ON/ 0.08% of their portfolio | 2.3m $66.1m | Reduced -216.2k |
| Aberdeen Group plc 0.10% of their portfolio | 2.3m $65.3m | Reduced -131.8k |
| MARSHALL WACE, LLP 0.07% of their portfolio | 2.2m $63.6m | Reduced -1.9m |
| STIFEL FINANCIAL CORP 0.06% of their portfolio | 2.2m $61.4m | Added +38.5k |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 2.2m $61.0m | Reduced -21.9k |
| Russell Investments Group, Ltd. 0.07% of their portfolio | 2.1m $59.1m | Reduced -74.6k |
| Cetera Investment Advisers 0.07% of their portfolio | 2.0m $57.3m | Added +338.0k |
| CIBC Private Wealth Group LLC 0.10% of their portfolio | 2.0m $57.1m | Added +278.6k |
| EXCHANGE TRADED CONCEPTS, LLC 0.53% of their portfolio | 2.0m $55.5m | Reduced -122.4k |
| Maryland State Retirement & Pension System 1.14% of their portfolio | 1.9m $54.0m | Added +72.0k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.87% of their portfolio | 1.9m $53.5m | Added +116.2k |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 0.28% of their portfolio | 1.8m $51.9m | Reduced -1.4k |
| NICHOLS & PRATT ADVISERS LLP /MA 3.27% of their portfolio | 1.8m $51.8m | Added +17.7k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 1.8m $51.7m | Reduced -315.0k |
| SIR Capital Management, L.P. 4.62% of their portfolio | 1.8m $51.5m | Reduced -229.0k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.09% of their portfolio | 1.8m $50.7m | Reduced -110.2k |
| ALPS ADVISORS INC 0.28% of their portfolio | 1.8m $50.3m | Added +62.8k |