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Core & Main
CNM

447 hedge funds and large institutions have $12.5B invested in Core & Main in 2025 Q2 according to their latest regulatory filings, with 76 funds opening new positions, 140 increasing their positions, 172 reducing their positions, and 43 closing their positions.

New
Increased
Maintained
Reduced
Closed

205% more call options, than puts

Call options by funds: $72.2M | Put options by funds: $23.6M

77% more first-time investments, than exits

New positions opened: 76 | Existing positions closed: 43

24% more capital invested

Capital invested by funds: $10.1B → $12.5B (+$2.39B)

6% more funds holding

Funds holding: 420 → 447 (+27)

0.63% less ownership

Funds ownership: 109.63% → 109.01% (-0.63%)

14% less funds holding in top 10

Funds holding in top 10: 14 → 12 (-2)

19% less repeat investments, than reductions

Existing positions increased: 140 | Existing positions reduced: 172

Holders
447
Holders Change
+27
Holders Change %
+6.43%
% of All Funds
5.89%
Holding in Top 10
12
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-14.29%
% of All Funds
0.16%
New
76
Increased
140
Reduced
172
Closed
43
Calls
$72.2M
Puts
$23.6M
Net Calls
+$48.5M
Net Calls Change
+$36.8M

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$279M
2
Capital World Investors
Capital World Investors
California
+$80.6M
3
DCP
D1 Capital Partners
New York
+$57.1M
4
FCM
Fernbridge Capital Management
California
+$36.9M
5
MC
Maplelane Capital
New York
+$29.9M

Top Sellers

Rank Fund Capital Flow
1
BlackRock
BlackRock
New York
-$148M
2
Invesco
Invesco
Georgia
-$86.8M
3
ACM
Anomaly Capital Management
New York
-$81.3M
4
Select Equity Group
Select Equity Group
New York
-$75.7M
5
Fidelity Investments
Fidelity Investments
Massachusetts
-$44.8M
Name Holding Trade Value Shares
Change 		Change in
Stake
AV
276
Alamea Verwaltungs
New Jersey
$506K +$101K +1,887 +29%
Franklin Resources
277
Franklin Resources
California
$485K +$4.55K +85 +1%
FT
278
Fiduciary Trust
Massachusetts
$480K +$89.3K +1,670 +27%
FRM
279
Fox Run Management
Connecticut
$480K +$425K +7,946 New
Cerity Partners
280
Cerity Partners
New York
$478K -$160K -2,991 -27%
AA
281
ALPS Advisors
Colorado
$459K +$4.92K +92 +1%
Verition Fund Management
282
Verition Fund Management
Connecticut
$448K -$11M -205,986 -97%
Mercer Global Advisors
283
Mercer Global Advisors
Colorado
$443K -$176K -3,294 -31%
Corient Private Wealth
284
Corient Private Wealth
Florida
$440K -$6.58K -123 -2%
MGIA
285
Moneta Group Investment Advisors
Missouri
$433K – – –
PNC Financial Services Group
286
PNC Financial Services Group
Pennsylvania
$424K +$90.7K +1,695 +32%
M&T Bank
287
M&T Bank
New York
$416K -$588 -11 -0.2%
VA
288
Vident Advisory
Georgia
$414K -$211K -3,948 -37%
SCM
289
Shelton Capital Management
Colorado
$405K – – –
UBP
290
Union Bancaire Privee
Switzerland
$396K -$660K -12,332 -65%
BC
291
Bridgefront Capital
Texas
$393K +$24.4K +457 +8%
CIBC Asset Management
292
CIBC Asset Management
Ontario, Canada
$363K – – –
Assenagon Asset Management
293
Assenagon Asset Management
Luxembourg
$362K -$86.7K -1,621 -21%
EM
294
ELCO Management
New York
$357K +$74.5K +1,393 +31%
EGM
295
Engineers Gate Manager
New York
$356K -$7.49M -140,115 -96%
SPA
296
Sherbrooke Park Advisers
New York
$351K +$312K +5,824 New
GI
297
GAMMA Investing
California
$351K +$92.7K +1,733 +42%
QCM
298
QRG Capital Management
Illinois
$350K -$308K -5,758 -50%
PCM
299
Prelude Capital Management
New York
$346K +$307K +5,733 New
ECM
300
Everence Capital Management
Indiana
$340K – – –
10 11
12
13 14

CNM Hedge Fund Activity: Q2 2025 in Review

447 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Core & Main (CNM) for Q2 2025, worth a combined $12.5B — up 24% from $10.1B a quarter earlier.

Buyers outnumbered sellers: 76 funds opened new CNM positions and 43 closed out — a net gain of 33 holders — while 140 added to existing stakes and 172 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $279M. The largest seller was BlackRock, cutting an estimated $148M.

  • 447 institutional investors held Core & Main (CNM) as of Q2 2025, up from 420 in Q1 2025.
  • Funds reported $12.5B of Core & Main stock for Q2 2025, up 24% quarter-over-quarter.
  • 76 funds opened new Core & Main positions in Q2 2025 and 43 closed out, a net change of +33 holders.
  • The largest Core & Main buyer in Q2 2025 was Morgan Stanley, an estimated $279M added.
  • The largest Core & Main seller in Q2 2025 was BlackRock, an estimated $148M sold.

Based on aggregated 13F filings for Q2 2025.