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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
CIAM
476
Caitong International Asset Management
Hong Kong
– -$102K -2,119 Closed
CCM
477
Coldstream Capital Management
Washington
– -$87.7K -1,816 Closed
CSS
478
Cubist Systematic Strategies
Connecticut
– -$35K -724 Closed
WF
479
Wayfinding Financial
Washington
– -$11K -239 Closed
SW
480
SVB Wealth
Massachusetts
– -$6.86K -142 Closed
BCMLT
481
Beacon Capital Management LLC (Tennessee)
Tennessee
– -$6.09K -126 Closed
QC
482
Quent Capital
New York
– -$5.65K -117 Closed
CI
483
CX Institutional
Indiana
– -$3K -69 Closed
M
484
MOTCO
Texas
– -$1.11K -23 Closed
GFPC
485
Global Financial Private Client
Florida
– -$1.06K -22 Closed
FMTCOCP
486
Farmers & Merchants Trust Co of Chambersburg PA
Pennsylvania
– -$1K -20 Closed
AF
487
Advisornet Financial
Minnesota
– -$145 -3 Closed
RBC
488
Roble Belko & Company
Pennsylvania
– +$160 +3 New
CAL
489
Capital Advisors Ltd
Ohio
– +$214 +4 New
16 17 18 19
20

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.