Core & Main
421 hedge funds and large institutions have $10.1B invested in Core & Main in 2025 Q1 according to their latest regulatory filings, with 64 funds opening new positions, 138 increasing their positions, 169 reducing their positions, and 49 closing their positions.
56% more funds holding in top 10
Funds holding in top 10: 9 → 14 (+5)
36% more call options, than puts
Call options by funds: $44.5M | Put options by funds: $32.7M
31% more first-time investments, than exits
New positions opened: 64 | Existing positions closed: 49
4.28% more ownership
Funds ownership: 105.36% → 109.64% (+4.3%)
2% more funds holding
Funds holding: 414 → 421 (+7)
1% less capital invested
Capital invested by funds: $10.2B → $10.1B (-$136M)
18% less repeat investments, than reductions
Existing positions increased: 138 | Existing positions reduced: 169
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DCP
D1 Capital Partners
New York
|
+$256M |
| 2 |
Morgan Stanley
New York
|
+$176M |
| 3 |
ACM
Anomaly Capital Management
New York
|
+$69.4M |
| 4 |
Jennison Associates
New York
|
+$58.7M |
| 5 |
SHIM
Spruce House Investment Management
New York
|
+$49.2M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
-$117M |
| 2 |
Invesco
Atlanta,
Georgia
|
-$64.8M |
| 3 |
Jane Street
New York
|
-$40.9M |
| 4 |
BlackRock
New York
|
-$26.4M |
| 5 |
Swedbank
Stockholm,
Sweden
|
-$25.8M |
CNM Hedge Fund Activity: Q1 2025 in Review
421 of the 7,471 institutional investors tracked by Wall St. Rank reported a position in Core & Main (CNM) for Q1 2025, worth a combined $10.1B — down 1.3% from $10.2B a quarter earlier.
Buyers outnumbered sellers: 64 funds opened new CNM positions and 49 closed out — a net gain of 15 holders — while 138 added to existing stakes and 169 trimmed.
The largest buyer was D1 Capital Partners, opening a new position worth an estimated $256M. The largest seller was Fidelity Investments, cutting an estimated $117M.
- 421 institutional investors held Core & Main (CNM) as of Q1 2025, up from 414 in Q4 2024.
- Funds reported $10.1B of Core & Main stock for Q1 2025, down 1.3% quarter-over-quarter.
- 64 funds opened new Core & Main positions in Q1 2025 and 49 closed out, a net change of +15 holders.
- The largest Core & Main buyer in Q1 2025 was D1 Capital Partners, an estimated $256M added.
- The largest Core & Main seller in Q1 2025 was Fidelity Investments, an estimated $117M sold.
Based on aggregated 13F filings for Q1 2025.