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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
B
301
Bellecapital
Switzerland
$333K – – –
SCM
302
Sterling Capital Management
North Carolina
$330K +$76.4K +1,429 +35%
DC
303
Diametric Capital
Massachusetts
$329K -$202K -3,780 -41%
SAM
304
Shell Asset Management
Netherlands
$326K -$53.3K -997 -16%
FTWA
305
Fifth Third Wealth Advisors
Ohio
$325K -$12.2K -228 -4%
AU
306
Algebris (UK)
United Kingdom
$319K +$283K +5,289 New
Canada Pension Plan Investment Board
307
Canada Pension Plan Investment Board
Ontario, Canada
$308K -$102K -1,900 -27%
Skandinaviska Enskilda Banken (SEB)
308
Skandinaviska Enskilda Banken (SEB)
Sweden
$308K -$32.9M -615,701 -99%
PF
309
Phoenix Financial
Israel
$302K -$19.4K -363 -7%
RC
310
RBF Capital
California
$302K – – –
SLAM
311
Swiss Life Asset Management
$297K -$392K -7,326 -60%
EI
312
Ellevest Inc
New York
$297K +$263K +4,917 New
RP
313
Riverwater Partners
Wisconsin
$292K -$49.8K -931 -16%
AFCM
314
Applied Finance Capital Management
Puerto Rico
$288K – – –
WPC
315
Wedmont Private Capital
Pennsylvania
$279K +$240K +4,482 New
SO
316
STRS Ohio
Ohio
$274K +$243K +4,537 New
MYAM
317
Meiji Yasuda Asset Management
Japan
$273K -$2.83K -53 -1%
RWM
318
Ritholtz Wealth Management
New York
$262K -$246K -4,599 -51%
SPWG
319
Syntegra Private Wealth Group
Missouri
$252K +$223K +4,173 New
PA
320
Profund Advisors
Maryland
$252K -$14.7K -274 -6%
MIG
321
Mariner Investment Group
New York
$249K +$221K +4,125 New
CFM
322
Catalyst Funds Management
Australia
$241K +$214K +4,000 New
CC
323
Corton Capital
Ontario, Canada
$241K +$213K +3,986 New
SA
324
Sanctuary Advisors
Indiana
$238K +$211K +3,942 New
BCI
325
Brinker Capital Investments
Pennsylvania
$237K -$42.3K -790 -17%
11 12
13
14 15

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.