Waste Connections
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.
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)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
+$886M |
| 2 |
Wellington Management Group
Boston,
Massachusetts
|
+$230M |
| 3 |
Mackenzie Financial
Toronto Ontario,
Ontario, Canada
|
+$167M |
| 4 |
Vanguard Group
Malvern,
Pennsylvania
|
+$131M |
| 5 |
CIBC Asset Management
Toronto,
Ontario, Canada
|
+$130M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AIM
Alphinity Investment Management
Sydney,
Australia
|
-$570M |
| 2 |
Fidelity International
Hamilton,
Bermuda
|
-$508M |
| 3 |
UBS AM
Chicago,
Illinois
|
-$276M |
| 4 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$182M |
| 5 |
Capital International Investors
Los Angeles,
California
|
-$174M |
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.