CORE & MAIN INC CNM
CL A · Common Stock · CUSIP 21874C102 · ISIN US21874C1027
Infrastructure (water, wastewater, storm drainage and fire protection) limited partnership company
- SectorIndustrials
- IndustryWholesale-Durable Goods, NEC
- HeadquartersSt. Louis, MO
- Founded2017
- Websitecoreandmain.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($14.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $51.99. Options: 13 managers hold calls ($40.1m notional), 11 hold puts ($11.8m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 170 |
| Q4 2022 | 168 |
| Q1 2023 | 181 |
| Q2 2023 | 224 |
| Q3 2023 | 266 |
| Q4 2023 | 365 |
| Q1 2024 | 431 |
| Q2 2024 | 421 |
| Q3 2024 | 390 |
| Q4 2024 | 416 |
| Q1 2025 | 423 |
| Q2 2025 | 448 |
| Q3 2025 | 429 |
| Q4 2025 | 439 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 276 | 156 |
| Q2 2024 | 220 | 216 |
| Q3 2024 | 193 | 240 |
| Q4 2024 | 208 | 191 |
| Q1 2025 | 195 | 218 |
| Q2 2025 | 210 | 217 |
| Q3 2025 | 204 | 236 |
| Q4 2025 | 191 | 240 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $44.5m | $32.7m | 0.74 |
| Q2 2025 | $72.5m | $23.7m | 0.33 |
| Q3 2025 | $104.0m | $26.7m | 0.26 |
| Q4 2025 | $40.1m | $11.8m | 0.29 |
Biggest buyers
| D. E. Shaw & Co., Inc. | Added | +1.6m |
| FIRST TRUST ADVISORS LP | Added | +1.5m |
| Hood River Capital Management LLC | New | +1.3m |
| MORGAN STANLEY | Added | +1.1m |
| FERNBRIDGE CAPITAL MANAGEMENT LP | Added | +789.9k |
| Amundi | Added | +720.1k |
| XN LP | New | +698.2k |
| Forest Avenue Capital Management LP | Added | +632.4k |
| ROYAL LONDON ASSET MANAGEMENT LTD | Added | +632.1k |
| FIL Ltd | Added | +615.7k |
Biggest sellers
| D1 Capital Partners L.P. | Reduced | -2.5m |
| JPMORGAN CHASE & CO | Reduced | -2.2m |
| Select Equity Group, L.P. | Reduced | -1.9m |
| Anomaly Capital Management, LP | Reduced | -1.8m |
| Handelsbanken Fonder AB | Reduced | -1.4m |
| JENNISON ASSOCIATES LLC | Reduced | -1.3m |
| Zurich Insurance Group Ltd/FI | Sold out | -1.2m |
| Zurcher Kantonalbank (Zurich Cantonalbank) | Reduced | -1.2m |
| Bornite Capital Management LP | Sold out | -1.0m |
| BANK OF AMERICA CORP /DE/ | Reduced | -944.4k |
Biggest calls
| PEAK6 LLC | Reduced | $9.1m175.2k shares |
| JANE STREET GROUP, LLC | Added | $8.3m158.9k shares |
| CITADEL ADVISORS LLC | Reduced | $5.2m100.5k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.4m66.2k shares |
| Twin Tree Management, LP | Reduced | $2.9m56.7k shares |
| GROUP ONE TRADING LLC | Reduced | $2.9m54.9k shares |
| Jefferies Financial Group Inc. | Reduced | $1.8m35.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $1.5m28.6k shares |
| IMC-Chicago, LLC | Reduced | $1.4m27.7k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $1.3m24.1k shares |
Biggest puts
| PEAK6 LLC | New | $4.2m80.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $2.5m47.2k shares |
| CITADEL ADVISORS LLC | Reduced | $1.5m29.2k shares |
| IMC-Chicago, LLC | Reduced | $1.1m20.4k shares |
| Walleye Capital LLC | New | $847.1k16.3k shares |
| Point72 Asset Management, L.P. | New | $613.2k11.8k shares |
| JANE STREET GROUP, LLC | Reduced | $530.1k10.2k shares |
| Walleye Trading LLC | Added | $280.6k5.4k shares |
| TUDOR INVESTMENT CORP ET AL | New | $207.9k4.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $103.9k2.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution +0.1 pts · filed 2026-04-07 | 10.1% |
| Capital World Investors 13G · institution new · filed 2026-05-14 | 6.2% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.3% |
Fell to 5% or below in the last year: MORGAN STANLEY (2.7%, 2026-05-11), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC), Select Equity Group, L.P. (4.1%, 2026-02-17)
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 7 | $33.5m | $30.6m |
| Q2 2024 | 0 | — | 3 | $9.4m | $9.4m |
| Q3 2024 | 0 | — | 2 | $2.6m | $2.6m |
| Q4 2024 | 0 | — | 4 | $15.9m | $15.9m |
| Q1 2025 | 0 | — | 3 | $12.9m | $12.9m |
| Q2 2025 | 0 | — | 4 | $10.5m | $10.5m |
| Q3 2025 | 0 | — | 5 | $26.3m | $18.6m |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.02% of their portfolio | 18.9m $983.7m | Reduced -104.9k |
| VANGUARD GROUP INC 0.01% of their portfolio | 17.6m $914.6m | Reduced -106.7k |
| MORGAN STANLEY 0.05% of their portfolio | 14.6m $758.1m | Added +1.1m |
| Select Equity Group, L.P. 1.88% of their portfolio | 7.8m $404.2m | Reduced -1.9m |
| Pictet Asset Management Holding SA 0.38% of their portfolio | 7.4m $386.8m | Reduced -887.2k |
| FMR LLC 0.02% of their portfolio | 6.4m $330.2m | Added +133.7k |
| Capital World Investors 0.04% of their portfolio | 6.3m $327.0m | Added +344.6k |
| STATE STREET CORP 0.01% of their portfolio | 5.7m $298.0m | Added +54.6k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.62% of their portfolio | 5.7m $295.6m | Added +632.1k |
| FIRST TRUST ADVISORS LP 0.20% of their portfolio | 5.3m $276.4m | Added +1.5m |
| JANUS HENDERSON GROUP PLC 0.11% of their portfolio | 4.6m $240.3m | Reduced -534.3k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 3.6m $189.5m | Added +84.7k |
| Amundi 0.04% of their portfolio | 3.1m $159.1m | Added +720.1k |
| Invesco Ltd. 0.01% of their portfolio | 2.9m $151.6m | Added +81.7k |
| Impax Asset Management Group plc 0.93% of their portfolio | 2.9m $149.3m | Added +279.4k |
| SAMLYN CAPITAL, LLC 2.36% of their portfolio | 2.8m $147.7m | Added +180.9k |
| D1 Capital Partners L.P. 1.29% of their portfolio | 2.6m $137.6m | Reduced -2.5m |
| KBC Group NV 0.31% of their portfolio | 2.6m $136.1m | Added +272.3k |
| FIDUCIARY MANAGEMENT INC /WI/ 1.49% of their portfolio | 2.6m $135.8m | Reduced -108.9k |
| BESSEMER GROUP INC 0.21% of their portfolio | 2.6m $134.6m | Reduced -572.4k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 2.5m $130.4m | Added +199.4k |
| D. E. Shaw & Co., Inc. 0.10% of their portfolio | 2.5m $128.7m | Added +1.6m |
| SPRUCE HOUSE INVESTMENT MANAGEMENT LLC 3.24% of their portfolio | 2.1m $111.7m | Unchanged |
| NORGES BANK 0.01% of their portfolio | 2.1m $108.3m | Not comparable |
| Forest Avenue Capital Management LP 6.43% of their portfolio | 1.9m $97.7m | Added +632.4k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 1.9m $97.0m | Reduced -2.2m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 1.9m $96.7m | Added +27.9k |
| ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio | 1.8m $93.1m | Reduced -5.6k |
| RAYMOND JAMES FINANCIAL INC 0.03% of their portfolio | 1.8m $94.0m | Reduced -101.6k |
| Camrose Capital Investment Partners LLP 14.95% of their portfolio | 1.7m $90.3m | Added +487.8k |
| Liontrust Investment Partners LLP 1.33% of their portfolio | 1.7m $89.9m | Reduced -160.0k |
| FERNBRIDGE CAPITAL MANAGEMENT LP 3.95% of their portfolio | 1.5m $80.4m | Added +789.9k |
| Holocene Advisors, LP 0.17% of their portfolio | 1.5m $79.2m | Reduced -347.8k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.5m $78.9m | Reduced -62.0k |
| Handelsbanken Fonder AB 0.22% of their portfolio | 1.4m $74.2m | Reduced -1.4m |
| AMF Tjanstepension AB 0.43% of their portfolio | 1.3m $69.8m | Reduced -772.7k |
| Hood River Capital Management LLC 0.76% of their portfolio | 1.3m $69.2m | New |
| CDAM (UK) Ltd 12.06% of their portfolio | 1.3m $66.3m | Added +113.8k |
| Interval Partners, LP 1.49% of their portfolio | 1.2m $63.8m | Reduced -520.5k |
| FIL Ltd 0.04% of their portfolio | 1.1m $57.6m | Added +615.7k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.1m $56.8m | Reduced -36.9k |
| Swedbank AB 0.05% of their portfolio | 1.1m $56.3m | Reduced -114.8k |
| TRUIST FINANCIAL CORP 0.06% of their portfolio | 917.4k $47.7m | Added +7.4k |
| ACK Asset Management LLC 5.87% of their portfolio | 900.0k $46.8m | Unchanged |
| DENDUR CAPITAL LP 4.85% of their portfolio | 898.0k $46.7m | Unchanged |
| Pembroke Management, LTD 4.81% of their portfolio | 895.9k $46.6m | Reduced -13.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 882.9k $45.9m | Reduced -944.4k |
| Robeco Schweiz AG 0.95% of their portfolio | 818.5k $42.5m | Reduced -232.6k |
| Hill City Capital, LP 1.56% of their portfolio | 797.0k $41.4m | Added +21.5k |
| JENNISON ASSOCIATES LLC 0.02% of their portfolio | 775.6k $40.3m | Reduced -1.3m |
| MACKENZIE FINANCIAL CORP 0.05% of their portfolio | 769.5k $40.6m | Added +3.5k |
| FEDERATED HERMES, INC. 0.07% of their portfolio | 768.1k $39.9m | Reduced -172.2k |
| GOODNOW INVESTMENT GROUP, LLC 3.69% of their portfolio | 760.8k $39.5m | Added +117.1k |
| XN LP 1.02% of their portfolio | 698.2k $36.3m | New |
| Anomaly Capital Management, LP 1.30% of their portfolio | 695.1k $36.1m | Reduced -1.8m |
| Point72 Asset Management, L.P. 0.06% of their portfolio | 694.8k $36.1m | Added +134.4k |
| Allianz Asset Management GmbH 0.04% of their portfolio | 684.9k $35.6m | Reduced -23.1k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.22% of their portfolio | 629.2k $32.7m | Reduced -19.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 576.5k $30.0m | Reduced -10.7k |
| Legal & General Group Plc 0.01% of their portfolio | 572.2k $29.7m | Reduced -6.7k |
| Nuveen, LLC 0.01% of their portfolio | 553.6k $28.8m | Reduced -197.7k |
| Local Pensions Partnership Investment Ltd 0.50% of their portfolio | 543.0k $28.2m | Unchanged |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 540.1k $28.1m | Added +119.5k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 502.4k $26.1m | Reduced -10.1k |
| DF DENT & CO INC 0.38% of their portfolio | 501.6k $26.1m | Reduced -7.7k |
| Schonfeld Strategic Advisors LLC 0.13% of their portfolio | 487.8k $25.4m | Reduced -892.0k |
| UBS Group AG 0.01% of their portfolio | 487.3k $25.3m | Reduced -212.0k |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 486.6k $25.3m | Added +176.7k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 469.7k $24.4m | Reduced -712.2k |
| PGGM Investments 0.38% of their portfolio | 467.4k $24.3m | Added +168.9k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 440.4k $22.9m | Added +22.0k |
| SOROS FUND MANAGEMENT LLC 0.30% of their portfolio | 434.5k $22.6m | New |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 412.7k $21.4m | Added +205.2k |
| California Public Employees Retirement System 0.01% of their portfolio | 410.0k $21.3m | Reduced -13.3k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.02% of their portfolio | 400.4k $20.8m | Reduced -16.8k |
| CI INVESTMENTS INC. 0.09% of their portfolio | 389.6k $20.2m | Added +4.0k |
| Swiss National Bank 0.01% of their portfolio | 373.9k $19.4m | Added +6.2k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.04% of their portfolio | 360.4k $18.7m | Reduced -1.2m |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.21% of their portfolio | 357.1k $18.6m | Added +20.1k |
| Qube Research & Technologies Ltd 0.03% of their portfolio | 348.2k $18.1m | New |
| TUDOR INVESTMENT CORP ET AL 0.10% of their portfolio | 336.0k $17.5m | New |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 328.6k $17.1m | Added +13.7k |
| Thrivent Financial for Lutherans 0.03% of their portfolio | 328.4k $17.1m | Added +62.6k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 302.5k $15.7m | New |
| Davidson Kempner Capital Management LP 0.23% of their portfolio | 300.0k $15.6m | Reduced -345.0k |
| Sea Cliff Partners Management, LP 5.97% of their portfolio | 272.7k $14.2m | Reduced -4.3k |
| Polar Capital Holdings Plc 0.06% of their portfolio | 262.1k $13.6m | Reduced -2.1k |
| CONGRUENCE CAPITAL, LLC 4.96% of their portfolio | 259.4k $13.5m | First filing |
| Bayberry Capital Partners LP 4.30% of their portfolio | 257.0k $13.4m | New |
| Rockefeller Capital Management L.P. 0.02% of their portfolio | 240.7k $12.5m | Reduced -7.3k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 231.9k $12.1m | Added +13.9k |
| Retirement Systems of Alabama 0.04% of their portfolio | 228.9k $11.9m | Reduced -444 |
| BLI - Banque de Luxembourg Investments 0.35% of their portfolio | 224.4k $11.9m | Reduced -55.3k |
| Tidal Investments LLC 0.05% of their portfolio | 220.6k $11.5m | Reduced -12.4k |
| Perpetual Ltd 0.17% of their portfolio | 220.5k $11.5m | Reduced -6.3k |
| South Street Advisors LLC 1.58% of their portfolio | 216.9k $11.3m | Reduced -20.5k |
| LOOMIS SAYLES & CO L P 0.01% of their portfolio | 214.1k $11.1m | Added +9.0k |
| Thomasville National Bank 0.69% of their portfolio | 213.8k $11.1m | New |
| Mediolanum International Funds Ltd 0.11% of their portfolio | 213.8k $11.3m | Added +76.1k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 212.6k $11.0m | Added +34.6k |