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WCN

Waste Connections
WCN

749 hedge funds and large institutions have $37.2B invested in Waste Connections in 2025 Q3 according to their latest regulatory filings, with 77 funds opening new positions, 263 increasing their positions, 273 reducing their positions, and 82 closing their positions.

New
Increased
Maintained
Reduced
Closed

1,425% more call options, than puts

Call options by funds: $217M | Put options by funds: $14.2M

4% less repeat investments, than reductions

Existing positions increased: 263 | Existing positions reduced: 273

6% less first-time investments, than exits

New positions opened: 77 | Existing positions closed: 82

2% less funds holding

Funds holding: 767 → 749 (-18)

2.95% less ownership

Funds ownership: 85.48% → 82.53% (-2.9%)

10% less capital invested

Capital invested by funds: $41.3B → $37.2B (-$4.05B)

12% less funds holding in top 10

Funds holding in top 10: 17 → 15 (-2)

Holders
749
Holders Change
-18
Holders Change %
-2.35%
% of All Funds
9.83%
Holding in Top 10
15
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-11.76%
% of All Funds
0.2%
New
77
Increased
263
Reduced
273
Closed
82
Calls
$217M
Puts
$14.2M
Net Calls
+$203M
Net Calls Change
+$185M

Top Buyers

Rank Fund Capital Flow
1
Fidelity Investments
Fidelity Investments
Massachusetts
+$886M
2
Wellington Management Group
Wellington Management Group
Massachusetts
+$230M
3
Mackenzie Financial
Mackenzie Financial
Ontario, Canada
+$167M
4
Vanguard Group
Vanguard Group
Pennsylvania
+$131M
5
CIBC Asset Management
CIBC Asset Management
Ontario, Canada
+$130M

Top Sellers

Rank Fund Capital Flow
1
AIM
Alphinity Investment Management
Australia
-$570M
2
Fidelity International
Fidelity International
Bermuda
-$508M
3
UBS AM
UBS AM
Illinois
-$276M
4
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
-$182M
5
Capital International Investors
Capital International Investors
California
-$174M
Name Holding Trade Value Shares
Change 		Change in
Stake
WA
726
Westfuller Advisors
New York
$2.46K +$2.55K +14 New
JWM
727
JPL Wealth Management
Colorado
$2.29K +$2.37K +13 New
SS
728
Sunbelt Securities
Texas
$2.29K -$2.37K -13 -50%
BGAI
729
Bruce G. Allen Investments
Colorado
$2.29K – – –
QC
730
Quent Capital
New York
$2.29K +$2.37K +13 New
BIM
731
Breakwater Investment Management
Washington
$2.11K +$2.18K +12 New
Q1WB
732
Quest 10 Wealth Builders
Virginia
$2.11K +$2.18K +12 New
PCM
733
Penserra Capital Management
California
$2K -$1.09K -6 -29%
HFS
734
Hughes Financial Services
Virginia
$1.99K -$1.09K -6 -33%
BLC
735
Brown, Lisle/Cummings
Rhode Island
$1.99K – – –
RF
736
Rossby Financial
Florida
$1.93K +$2K +11 New
SIC
737
Salem Investment Counselors
North Carolina
$1.76K +$1.82K +10 New
FMP
738
Financial Management Professionals
Texas
$1.58K +$1.64K +9 New
BAM
739
Bellevue Asset Management
Washington
$1.41K – – –
Kayne Anderson Rudnick Investment Management
740
Kayne Anderson Rudnick Investment Management
California
$1.23K – – –
PWA
741
Physician Wealth Advisors
Utah
$1.05K -$1.64K -9 -60%
GSWM
742
Golden State Wealth Management
California
$1.05K +$1.09K +6 New
DWA
743
Delos Wealth Advisors
Texas
$879 – – –
TIM
744
Tortoise Investment Management
New York
$703 – – –
KFI
745
Key Financial Inc
Pennsylvania
$700 +$728 +4 New
CPG
746
Cornerstone Planning Group
New Jersey
$686 -$8.37K -46 -96%
RWM
747
Rialto Wealth Management
New York
$528 – – –
IW
748
Imprint Wealth
South Carolina
$352 +$364 +2 New
CWP
749
Concord Wealth Partners
Virginia
$176 – – –
Norges Bank
750
Norges Bank
Norway
– -$756M -4,047,250 Closed
28 29
30
31 32

WCN Hedge Fund Activity: Q3 2025 in Review

749 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Waste Connections (WCN) for Q3 2025, worth a combined $37.2B — down 9.8% from $41.3B a quarter earlier.

Sellers outnumbered buyers: 82 funds closed out of WCN and 77 opened new positions — a net loss of 5 holders — while 273 trimmed existing stakes and 263 added.

The largest buyer was Fidelity Investments, adding an estimated $886M. The largest seller was Alphinity Investment Management, exiting entirely with an estimated $570M sold.

  • 749 institutional investors held Waste Connections (WCN) as of Q3 2025, down from 767 in Q2 2025.
  • Funds reported $37.2B of Waste Connections stock for Q3 2025, down 9.8% quarter-over-quarter.
  • 77 funds opened new Waste Connections positions in Q3 2025 and 82 closed out, a net change of -5 holders.
  • The largest Waste Connections buyer in Q3 2025 was Fidelity Investments, an estimated $886M added.
  • The largest Waste Connections seller in Q3 2025 was Alphinity Investment Management, an estimated $570M sold.

Based on aggregated 13F filings for Q3 2025.