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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$279M |
| 2 |
Capital World Investors
Los Angeles,
California
|
+$80.6M |
| 3 |
DCP
D1 Capital Partners
New York
|
+$57.1M |
| 4 |
FCM
Fernbridge Capital Management
Los Angeles,
California
|
+$36.9M |
| 5 |
MC
Maplelane Capital
New York
|
+$29.9M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BlackRock
New York
|
-$148M |
| 2 |
Invesco
Atlanta,
Georgia
|
-$86.8M |
| 3 |
ACM
Anomaly Capital Management
New York
|
-$81.3M |
| 4 |
Select Equity Group
New York
|
-$75.7M |
| 5 |
Fidelity Investments
Boston,
Massachusetts
|
-$44.8M |
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.