Which funds own WCN
Waste Connections Inc in the Q2 2026 filings. At least 4 of the 91 current managers on file reported a position, worth $1.4bn between them. It is among the largest positions of fewer than a fifth of the current managers on file. The quarter went the other way: 8 managers trimmed or sold out against 2 buying.
- Managers holding
- 4
- at least, of 91 current
- Combined value
- $1.4bn
- as reported
- Opened
- 1
- new this quarter
- Added to
- 1
- already held
- Trimmed or sold out
- 8
- 6 sold out entirely
Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.
Managers reporting a position
Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.
| Manager | Value | Weight | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
| AQR Capital Management LLC Quantitative · $287bn book | $684m | 0.2% | 4,111,035 | +$506m+3,002,466 | Added |
| Two Sigma Investments LP Quantitative · $138bn book | $541m | 0.4% | 3,245,893 | -$18m-198,159 | Trimmed |
| Neuberger Berman Group LLC Long-only · $150bn book | $188m | 0.1% | 1,126,933 | -$34m-240,265 | Trimmed |
| Moore Capital Management LP Macro · $6.7bn book | $7.5m | 0.1% | 44,825 | opened44,825 | New |
Sold out of this quarter
Valued at what the position was worth in the previous filing, because by this one it is gone.
- Balyasny Asset Management LLC · Multi-strategy$38m held before
- Tudor Investment Corp · Macro$20m held before
- Voloridge Investment Management LLC · Quantitative$15m held before
- Quantbot Technologies LP · Quantitative$7.8m held before
- Capital World Investors · Long-only$500k held before
- First Eagle Investment Management LLC · Activist$0 held before
Ownership through time
At least 20 of the 95 managers whose filings are on file listed WCN in Q2 2026, against 14 in Q2 2016. 6 managers fewer than in Q1 2026: 1 started a position; 2 listed it again; 3 sold out, by their own filings; 6 no longer listed it among the positions read, which can mean a holding below the listed range or a filing not yet made.
Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.
- Q2 2016: 14
- Q3 2016: 12
- Q4 2016: 11
- Q1 2017: 14
- Q2 2017: 15
- Q3 2017: 13
- Q4 2017: 18
- Q1 2018: 20
- Q2 2018: 18
- Q3 2018: 16
- Q4 2018: 18
- Q1 2019: 16
- Q2 2019: 19
- Q3 2019: 17
- Q4 2019: 19
- Q1 2020: 17
- Q2 2020: 17
- Q3 2020: 20
- Q4 2020: 18
- Q1 2021: 17
- Q2 2021: 14
- Q3 2021: 13
- Q4 2021: 25
- Q1 2022: 22
- Q2 2022: 24
- Q3 2022: 22
- Q4 2022: 21
- Q1 2023: 17
- Q2 2023: 19
- Q3 2023: 18
- Q4 2023: 20
- Q1 2024: 22
- Q2 2024: 20
- Q3 2024: 19
- Q4 2024: 17
- Q1 2025: 18
- Q2 2025: 17
- Q3 2025: 20
- Q4 2025: 18
- Q1 2026: 26
- Q2 2026: 20
- Q2 2016: $2.6bn
- Q3 2016: $2.4bn
- Q4 2016: $2.3bn
- Q1 2017: $2.9bn
- Q2 2017: $3.5bn
- Q3 2017: $4.0bn
- Q4 2017: $4.1bn
- Q1 2018: $4.2bn
- Q2 2018: $3.9bn
- Q3 2018: $4.1bn
- Q4 2018: $3.7bn
- Q1 2019: $4.3bn
- Q2 2019: $4.7bn
- Q3 2019: $4.1bn
- Q4 2019: $3.8bn
- Q1 2020: $3.1bn
- Q2 2020: $3.8bn
- Q3 2020: $4.1bn
- Q4 2020: $4.3bn
- Q1 2021: $4.9bn
- Q2 2021: $5.0bn
- Q3 2021: $5.2bn
- Q4 2021: $6.1bn
- Q1 2022: $5.6bn
- Q2 2022: $5.1bn
- Q3 2022: $3.8bn
- Q4 2022: $3.6bn
- Q1 2023: $4.0bn
- Q2 2023: $3.9bn
- Q3 2023: $2.8bn
- Q4 2023: $2.9bn
- Q1 2024: $3.7bn
- Q2 2024: $3.4bn
- Q3 2024: $3.7bn
- Q4 2024: $3.6bn
- Q1 2025: $4.0bn
- Q2 2025: $3.6bn
- Q3 2025: $4.5bn
- Q4 2025: $4.4bn
- Q1 2026: $5.2bn
- Q2 2026: $5.1bn
Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.
Started in Q2 2026
Largest increases, by shares
- AQR Capital Management LLC1,108,569 to 4,111,035 shares+$500m
- Millennium Management LLC839,369 to 1,323,486 shares+$81m
- Moore Capital Management LPnew: 44,825 shares+$7.5m
- Schonfeld Strategic Advisors LLC76,929 to 109,854 shares+$5.5m
Largest decreases, by shares
- Fidelity (FMR LLC)8,964,650 to 5,341,098 shares-$604m
- Wellington Management Group LLP4,935,243 to 2,867,268 shares-$345m
- Capital Research Global Investors663,735 to 123,530 shares-$90m
- Holocene Advisors LP429,871 to 152,779 shares-$46m
- Neuberger Berman Group LLC1,367,198 to 1,126,933 shares-$40m
Left it
- Tudor Investment Corpwas $20m
- Quantbot Technologies LPwas $7.8m
- First Eagle Investment Management LLCwas $4k
| Manager | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Fidelity (FMR LLC) | Q2 2017 | $1.8bn | $890m | |
| AQR Capital Management LLC | Q2 2018 | $684m | $684m | |
| Invesco Ltd | Q2 2019 | $598m | $598m | |
| Two Sigma Investments LP | Q2 2016 | $559m | $541m | |
| Citadel Advisors LLC | Q4 2021 | $506m | $482m | |
| Wellington Management Group LLP | Q2 2016 | $820m | $478m | |
| T. Rowe Price Associates Inc | Q2 2016 | $3.6bn | $434m | |
| Millennium Management LLC | Q2 2016 | $221m | $221m | |
| Neuberger Berman Group LLC | Q4 2018 | $267m | $188m | |
| Arrowstreet Capital LP | Q1 2017 | $214m | $163m | |
| AllianceBernstein LP | Q2 2026 | $117m | $117m | |
| D. E. Shaw & Co. | Q1 2021 | $125m | $88m | |
| Point72 Asset Management LP | Q1 2018 | $93m | $73m | |
| MFS Investment Management | Q2 2016 | $363m | $72m | |
| Holocene Advisors LP | Q1 2020 | $70m | $25m | |
| Capital World Investors | Q2 2016 | $824m | last listed Q1 2024 | |
| Maverick Capital Ltd | Q2 2016 | $451m | last listed Q4 2023 | |
| Artisan Partners LP | Q2 2016 | $385m | last listed Q1 2018 | |
| Durable Capital Partners LP | Q1 2020 | $315m | last listed Q2 2024 | |
| Two Sigma Advisers LP | Q2 2016 | $269m | last listed Q4 2025 | |
| Renaissance Technologies LLC | Q2 2016 | $224m | last listed Q3 2024 | |
| Balyasny Asset Management LLC | Q3 2019 | $171m | last listed Q1 2026 | |
| Janus Henderson Group Ltd | Q2 2017 | $163m | last listed Q1 2026 | |
| Voloridge Investment Management LLC | Q4 2016 | $101m | last listed Q1 2026 | |
| Acadian Asset Management LLC | Q1 2018 | $69m | last listed Q1 2026 |
What WCN is worth
Knowing who owns it is half the question. The other half is what it is worth against the companies it trades beside, which is the one an interviewer will follow up with.
Build the comp set around WCN →How much of the picture this is
A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.
What to do with a name the funds are buying
Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.
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The holdings, every quarter, and the week between
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