Waste Connections
815 hedge funds and large institutions have $38.5B invested in Waste Connections in 2025 Q4 according to their latest regulatory filings, with 145 funds opening new positions, 271 increasing their positions, 274 reducing their positions, and 58 closing their positions.
150% more first-time investments, than exits
New positions opened: 145 | Existing positions closed: 58
116% more call options, than puts
Call options by funds: $52.5M | Put options by funds: $24.3M
13% more funds holding in top 10
Funds holding in top 10: 15 → 17 (+2)
9% more funds holding
Funds holding: 750 → 815 (+65)
3.05% more ownership
Funds ownership: 82.53% → 85.58% (+3.1%)
3% more capital invested
Capital invested by funds: $37.2B → $38.5B (+$1.24B)
1% less repeat investments, than reductions
Existing positions increased: 271 | Existing positions reduced: 274
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Capital International Investors
Los Angeles,
California
|
+$246M |
| 2 |
1832 Asset Management
Toronto,
Ontario, Canada
|
+$234M |
| 3 |
JP Morgan Chase
New York
|
+$223M |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$217M |
| 5 |
Goldman Sachs
New York
|
+$184M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity International
Hamilton,
Bermuda
|
-$441M |
| 2 |
Macquarie Group
Sydney, NSW 2000,
Australia
|
-$199M |
| 3 |
BlackRock
New York
|
-$128M |
| 4 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$120M |
| 5 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
-$89.9M |
WCN Hedge Fund Activity: Q4 2025 in Review
815 of the 8,284 institutional investors tracked by Wall St. Rank reported a position in Waste Connections (WCN) for Q4 2025, worth a combined $38.5B — up 3.3% from $37.2B a quarter earlier.
Buyers outnumbered sellers: 145 funds opened new WCN positions and 58 closed out — a net gain of 87 holders — while 271 added to existing stakes and 274 trimmed.
The largest buyer was Capital International Investors, adding an estimated $246M. The largest seller was Fidelity International, cutting an estimated $441M.
- 815 institutional investors held Waste Connections (WCN) as of Q4 2025, up from 750 in Q3 2025.
- Funds reported $38.5B of Waste Connections stock for Q4 2025, up 3.3% quarter-over-quarter.
- 145 funds opened new Waste Connections positions in Q4 2025 and 58 closed out, a net change of +87 holders.
- The largest Waste Connections buyer in Q4 2025 was Capital International Investors, an estimated $246M added.
- The largest Waste Connections seller in Q4 2025 was Fidelity International, an estimated $441M sold.
Based on aggregated 13F filings for Q4 2025.