Core & Main
429 hedge funds and large institutions have $11.3B invested in Core & Main in 2025 Q3 according to their latest regulatory filings, with 61 funds opening new positions, 148 increasing their positions, 166 reducing their positions, and 73 closing their positions.
278% more call options, than puts
Call options by funds: $98.7M | Put options by funds: $26.1M
8% more funds holding in top 10
Funds holding in top 10: 12 → 13 (+1)
1.36% more ownership
Funds ownership: 109.01% → 110.36% (+1.4%)
4% less funds holding
Funds holding: 447 → 429 (-18)
9% less capital invested
Capital invested by funds: $12.5B → $11.3B (-$1.14B)
11% less repeat investments, than reductions
Existing positions increased: 148 | Existing positions reduced: 166
16% less first-time investments, than exits
New positions opened: 61 | Existing positions closed: 73
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Capital World Investors
Los Angeles,
California
|
+$269M |
| 2 |
Holocene Advisors
New York
|
+$113M |
| 3 |
AT
AMF Tjänstepension
Stockholm,
Sweden
|
+$81.4M |
| 4 |
ZIG
Zurich Insurance Group
Zurich,
Switzerland
|
+$75.7M |
| 5 |
SSA
Schonfeld Strategic Advisors
New York
|
+$62M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$143M |
| 2 |
Select Equity Group
New York
|
-$107M |
| 3 |
AIM
Artemis Investment Management
Edinburgh,
United Kingdom
|
-$100M |
| 4 |
ACM
Anomaly Capital Management
New York
|
-$75.9M |
| 5 |
Amundi
Paris,
France
|
-$61.5M |
CNM Hedge Fund Activity: Q3 2025 in Review
429 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Core & Main (CNM) for Q3 2025, worth a combined $11.3B — down 9.1% from $12.5B a quarter earlier.
Sellers outnumbered buyers: 73 funds closed out of CNM and 61 opened new positions — a net loss of 12 holders — while 166 trimmed existing stakes and 148 added.
The largest buyer was Capital World Investors, adding an estimated $269M. The largest seller was Morgan Stanley, cutting an estimated $143M.
- 429 institutional investors held Core & Main (CNM) as of Q3 2025, down from 447 in Q2 2025.
- Funds reported $11.3B of Core & Main stock for Q3 2025, down 9.1% quarter-over-quarter.
- 61 funds opened new Core & Main positions in Q3 2025 and 73 closed out, a net change of -12 holders.
- The largest Core & Main buyer in Q3 2025 was Capital World Investors, an estimated $269M added.
- The largest Core & Main seller in Q3 2025 was Morgan Stanley, an estimated $143M sold.
Based on aggregated 13F filings for Q3 2025.