Core & Main
439 hedge funds and large institutions have $10.4B invested in Core & Main in 2025 Q4 according to their latest regulatory filings, with 82 funds opening new positions, 121 increasing their positions, 179 reducing their positions, and 65 closing their positions.
266% more call options, than puts
Call options by funds: $35.5M | Put options by funds: $9.7M
26% more first-time investments, than exits
New positions opened: 82 | Existing positions closed: 65
2% more funds holding
Funds holding: 429 → 439 (+10)
0% more funds holding in top 10
Funds holding in top 10: 13 → 13 (0)
4.27% less ownership
Funds ownership: 110.36% → 106.09% (-4.3%)
8% less capital invested
Capital invested by funds: $11.3B → $10.4B (-$908M)
32% less repeat investments, than reductions
Existing positions increased: 121 | Existing positions reduced: 179
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
D.E. Shaw & Co
New York
|
+$81.5M |
| 2 |
First Trust Advisors
Wheaton,
Illinois
|
+$76M |
| 3 |
HRCM
Hood River Capital Management
Palm Beach Gardens,
Florida
|
+$68.3M |
| 4 |
Morgan Stanley
New York
|
+$57.3M |
| 5 |
FCM
Fernbridge Capital Management
Los Angeles,
California
|
+$40.5M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DCP
D1 Capital Partners
New York
|
-$130M |
| 2 |
Select Equity Group
New York
|
-$98.1M |
| 3 |
ACM
Anomaly Capital Management
New York
|
-$91M |
| 4 |
Handelsbanken Fonder
Stockholm,
Sweden
|
-$73M |
| 5 |
ZIG
Zurich Insurance Group
Zurich,
Switzerland
|
-$67.3M |
CNM Hedge Fund Activity: Q4 2025 in Review
439 institutional investors reported a position in Core & Main (CNM) for Q4 2025, worth a combined $10.4B — down 8% from $11.3B a quarter earlier.
Buyers outnumbered sellers: 82 funds opened new CNM positions and 65 closed out — a net gain of 17 holders — while 121 added to existing stakes and 179 trimmed.
The largest buyer was D.E. Shaw & Co, adding an estimated $81.5M. The largest seller was D1 Capital Partners, cutting an estimated $130M.
- 439 institutional investors held Core & Main (CNM) as of Q4 2025, up from 429 in Q3 2025.
- Funds reported $10.4B of Core & Main stock for Q4 2025, down 8% quarter-over-quarter.
- 82 funds opened new Core & Main positions in Q4 2025 and 65 closed out, a net change of +17 holders.
- The largest Core & Main buyer in Q4 2025 was D.E. Shaw & Co, an estimated $81.5M added.
- The largest Core & Main seller in Q4 2025 was D1 Capital Partners, an estimated $130M sold.
Based on aggregated 13F filings for Q4 2025.