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WCN

Waste Connections
WCN

794 hedge funds and large institutions have $34.8B invested in Waste Connections in 2026 Q1 according to their latest regulatory filings, with 96 funds opening new positions, 264 increasing their positions, 304 reducing their positions, and 107 closing their positions.

New
Increased
Maintained
Reduced
Closed

151% more call options, than puts

Call options by funds: $68.2M | Put options by funds: $27.2M

35% more funds holding in top 10

Funds holding in top 10: 17 → 23 (+6)

1.7% less ownership

Funds ownership: 85.61% → 83.91% (-1.7%)

2% less funds holding

Funds holding: 813 → 794 (-19)

10% less capital invested

Capital invested by funds: $38.5B → $34.8B (-$3.66B)

10% less first-time investments, than exits

New positions opened: 96 | Existing positions closed: 107

13% less repeat investments, than reductions

Existing positions increased: 264 | Existing positions reduced: 304

Holders
794
Holders Change
-19
Holders Change %
-2.34%
% of All Funds
9.77%
Holding in Top 10
23
Holding in Top 10 Change
+6
Holding in Top 10 Change %
+35.29%
% of All Funds
0.28%
New
96
Increased
264
Reduced
304
Closed
107
Calls
$68.2M
Puts
$27.2M
Net Calls
+$41.1M
Net Calls Change
+$12.8M

Top Buyers

1
Two Sigma Investments
Two Sigma Investments
New York
+$394M
2
Citadel Advisors
Citadel Advisors
Florida
+$347M
3
Goldman Sachs
Goldman Sachs
New York
+$302M
4
Impax Asset Management Group
Impax Asset Management Group
United Kingdom
+$273M
5
1832 Asset Management
1832 Asset Management
Ontario, Canada
+$244M

Top Sellers

1
WCM Investment Management
WCM Investment Management
California
-$402M
2
JP Morgan Chase
JP Morgan Chase
New York
-$381M
3
Fidelity Investments
Fidelity Investments
Massachusetts
-$217M
4
Capital International Investors
Capital International Investors
California
-$207M
5
Pictet Asset Management
Pictet Asset Management
Switzerland
-$197M
Name Holding Trade Value Shares
Change 		Change in
Stake
M
151
Mirova
France
$24.1M +$24.7M +148,126 New
Natixis Advisors
152
Natixis Advisors
Massachusetts
$24M -$6.32M -37,892 -20%
GI
153
Gradient Investments
Minnesota
$23.5M -$121K -725 -0.5%
Renaissance Technologies
154
Renaissance Technologies
New York
$23.3M +$7.3M +43,800 +44%
Zurich Cantonal Bank
155
Zurich Cantonal Bank
Switzerland
$22.9M -$1.61M -9,661 -6%
APG Asset Management
156
APG Asset Management
Netherlands
$22M -$907K -5,441 -3%
State of Wisconsin Investment Board
157
State of Wisconsin Investment Board
Wisconsin
$21.7M +$628K +3,766 +3%
HSBC Holdings
158
HSBC Holdings
United Kingdom
$21.4M +$1.99M +11,911 +10%
Capital Fund Management (CFM)
159
Capital Fund Management (CFM)
France
$21.2M +$15.3M +91,619 +236%
PCM
160
Prana Capital Management
Connecticut
$20.9M +$5.25M +31,515 +32%
VIA
161
Vanguard Investments Australia
Australia
$20.8M +$21.4M +128,103 New
Stifel Financial
162
Stifel Financial
Missouri
$20.6M -$10.6M -63,479 -33%
Parnassus Investments
163
Parnassus Investments
California
$20.4M +$7.4M +44,395 +55%
Canada Life
164
Canada Life
Manitoba, Canada
$20.2M -$721K -4,323 -3%
Citigroup
165
Citigroup
New York
$19.8M -$1.74M -10,442 -8%
Tudor Investment Corp
166
Tudor Investment Corp
Connecticut
$19.8M +$20.3M +122,062 New
CAM
167
Cresset Asset Management
Illinois
$19.6M +$2.59M +15,562 +15%
BONST
168
Bank of Nova Scotia Trust
Ontario, Canada
$19.3M +$593K +3,555 +3%
IIM
169
Intact Investment Management
Quebec, Canada
$18.7M +$12.6M +75,520 +192%
Nordea Investment Management
170
Nordea Investment Management
Sweden
$18.3M -$640K -3,840 -3%
DMIC
171
Dixon Mitchell Investment Counsel
British Columbia, Canada
$17.8M -$360K -2,161 -2%
Jones Financial Companies
172
Jones Financial Companies
Missouri
$17.2M +$16.7M +100,125 +964%
CA
173
Cornerstone Advisors
North Carolina
$17.2M +$15M +90,141 +569%
CIA
174
Choate Investment Advisors
Massachusetts
$17.2M -$453K -2,720 -3%
Asset Management One
175
Asset Management One
Japan
$17M +$301K +1,806 +2%
5 6
7
8 9

WCN Hedge Fund Activity: Q1 2026 in Review

794 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in Waste Connections (WCN) for Q1 2026, worth a combined $34.8B — down 9.5% from $38.5B a quarter earlier.

Sellers outnumbered buyers: 107 funds closed out of WCN and 96 opened new positions — a net loss of 11 holders — while 304 trimmed existing stakes and 264 added.

The largest buyer was Two Sigma Investments, adding an estimated $394M. The largest seller was WCM Investment Management, cutting an estimated $402M.

  • 794 institutional investors held Waste Connections (WCN) as of Q1 2026, down from 813 in Q4 2025.
  • Funds reported $34.8B of Waste Connections stock for Q1 2026, down 9.5% quarter-over-quarter.
  • 96 funds opened new Waste Connections positions in Q1 2026 and 107 closed out, a net change of -11 holders.
  • The largest Waste Connections buyer in Q1 2026 was Two Sigma Investments, an estimated $394M added.
  • The largest Waste Connections seller in Q1 2026 was WCM Investment Management, an estimated $402M sold.

Based on aggregated 13F filings for Q1 2026.