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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
SOMRS
176
State of Michigan Retirement System
Michigan
$2.75M – – –
EEL
177
Expect Equity LLC
Maryland
$2.74M -$433K -8,100 -15%
DZ Bank
178
DZ Bank
Germany
$2.73M +$80.2K +1,500 +3%
SAM
179
Storebrand Asset Management
Norway
$2.69M – – –
XT
180
XTX Topco
Cayman Islands
$2.61M +$2.32M +43,304 New
JIC
181
Johnson Investment Counsel
Ohio
$2.58M +$443K +8,286 +24%
Lord, Abbett & Co
182
Lord, Abbett & Co
New Jersey
$2.57M -$28.9M -539,731 -93%
NMIMC
183
Northwestern Mutual Investment Management Company
Wisconsin
$2.55M +$53 +1 +0%
CF
184
Covea Finance
France
$2.55M +$2.26M +42,200 New
BCP
185
Blackhawk Capital Partners
Wisconsin
$2.53M -$360K -6,735 -14%
SB
186
SIG Brokerage
New York
$2.53M +$2.24M +41,848 New
HF
187
HRT Financial
New York
$2.52M +$2.23M +41,736 New
FM
188
Foster & Motley
Ohio
$2.47M -$15K -281 -0.7%
NMERB
189
New Mexico Educational Retirement Board
New Mexico
$2.39M – – –
KK
190
KLP Kapitalforvaltning
Norway
$2.37M -$21.4K -400 -1%
OPERF
191
Oregon Public Employees Retirement Fund
Oregon
$2.34M +$10.7K +200 +0.5%
Mirae Asset Global ETFs Holdings
192
Mirae Asset Global ETFs Holdings
Hong Kong
$2.33M +$159K +2,975 +8%
SGM
193
Skye Global Management
Florida
$2.29M +$2.03M +38,000 New
DB
194
Danske Bank
Denmark
$2.23M -$574K -10,736 -22%
Renaissance Technologies
195
Renaissance Technologies
New York
$2.23M -$15.1M -281,700 -88%
AIP
196
Ameritas Investment Partners
Nebraska
$2.22M -$34.6K -646 -2%
M
197
Mirova
France
$2.17M +$205K +3,841 +12%
Citigroup
198
Citigroup
New York
$2.16M -$517K -9,671 -21%
Vontobel Holding
199
Vontobel Holding
Switzerland
$2.14M -$923K -17,265 -33%
Polen Capital Management
200
Polen Capital Management
Florida
$2.05M -$4.86M -90,940 -73%
6 7
8
9 10

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.