CDW

CDW • NASDAQ

CDW is a information technology services company in the technology sector on NASDAQ, led by Christine A. Leahy, with a market cap of $18.8B. As of Q3 2025, 93% of shares are held by 795 institutional investors, with VANGUARD GROUP INC as the largest holder at 13.13%.

CEOChristine A. Leahy

Market Cap$18.8B

Information Technology Services

Technology

Employees15.1K

Websitecdw.com

Country

United States of America

Overview

Overview of institutional ownership in CDW as of Q3 2025 with a market cap of $20.9B

All Institutions

Institutions: 795
Value Held: $19.4B
Shares Held: 122.0M
Avg Position: $24.4M
Median Position: $725.4K

Hedge Funds

Hedge Funds: 67
Value Held: $1.4B
Shares Held: 8.7M
Avg Position: $20.6M
Median Position: $1.8M

Ownership Breakdown

Institutional (non-HF)

86.46%

$18.0B

Hedge Funds

6.62%

$1.4B

Retail & Other

6.93%

$1.4B

Based on market cap of $20.9B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in CDW as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$2.7B 0.04% of portfolio	13.13% 17.2M shares	Q3 2013 Held for 12y 2m	$6.69T
B BlackRock, Inc. Institution	-	$1.9B 0.03% of portfolio	9.17% 12.0M shares	Q3 2013 Held for 12y 2m	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$926.8M 0.03% of portfolio	4.44% 5.8M shares	Q3 2013 Held for 12y 2m	$2.88T
Select Equity Group, L.P. Hedge Fund•Multi-Strategy	George Stabler Loening Chairman	$661.9M 2.72% of portfolio	3.17% 4.2M shares	Q2 2018 Held for 7y 5m	$24.4B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$584.6M 0.04% of portfolio	2.81% 3.7M shares	Q3 2013 Held for 12y 2m	$1.57T
Robeco Investment Management, Inc. Long Only Manager	Joseph Francis Feeney CEO	$435.2M 0.44% of portfolio	2.08% 2.7M shares	Q2 2023 Held for 2y 5m	$97.8B
M MACQUARIE GROUP LTD Institution	-	$425.2M 0.51% of portfolio	2.04% 2.7M shares	Q3 2017 Held for 8y 2m	$82.9B
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$421.2M 0.03% of portfolio	2.02% 2.6M shares	Q3 2013 Held for 12y 2m	$1.56T
Longview Partners LTD Long Only Manager	Elizabeth Mary Kate Campbell Managing Partner	$412.1M 4.31% of portfolio	1.97% 2.6M shares	Q4 2021 Held for 3y 11m	$9.6B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$398.2M 0.06% of portfolio	1.91% 2.5M shares	≤ Q2 2013 Held for 12y 5m+	$633.08B

Net Capital Flow

Institutional buying and selling activity for CDW in Q3 2025

Net Flow: −$356.8M
Buyers: 287
Sellers: 430
Total Bought: +$1.9B
Total Sold: −$2.3B
Avg Position: $23.0M

Biggest Buyers

Institution	Net Bought	Current Position
Allspring Global Investments Holdings, LLC Long Only Manager	+$249.9M +1.6M shares	$250.9M 1.6M shares
JPMORGAN CHASE & CO Institution	+$180.8M +1.1M shares	$421.2M 2.6M shares
Robeco Investment Management, Inc. Long Only Manager	+$150.2M +942.8K shares	$435.2M 2.7M shares
B BlackRock, Inc. Institution	+$145.9M +915.9K shares	$1.9B 12.0M shares
P Perpetual Ltd Institution	+$75.3M +472.5K shares	$253.7M 1.6M shares
F FIDUCIARY MANAGEMENT INC /WI/ Long Only Manager	+$68.9M +432.7K shares	$177.3M 1.1M shares
Marshall Wace LLP Institution	+$68.6M +430.8K shares	$95.4M 599.2K shares
GOLDMAN SACHS GROUP INC Institution	+$60.8M +381.5K shares	$149.3M 937.1K shares
VANGUARD GROUP INC Institution	+$58.6M +368.2K shares	$2.7B 17.2M shares
A AMERICAN CENTURY COMPANIES INC Institution	+$52.7M +330.5K shares	$79.4M 498.4K shares

Biggest Sellers

Institution	Net Sold	Current Position
MORGAN STANLEY RIA/Wealth	−$468.2M −2.9M shares	$378.3M 2.4M shares
Soroban Capital Partners LLC Hedge Fund•Long/Short	−$264.7M −1.5M shares	Sold Off 0 shares
Holocene Advisors, LP Hedge Fund•Long/Short	−$222.4M −1.4M shares	$99.7M 626.0K shares
M Mitsubishi UFJ Asset Management Co., Ltd. Institution	−$204.0M −1.3M shares	$43.3M 272.0K shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	−$145.3M −912.4K shares	$358.7M 2.3M shares
A Assenagon Asset Management S.A. Institution	−$100.7M −632.4K shares	$1.6M 9.8K shares
F FIL Ltd Institution	−$82.4M −517.3K shares	$284.7M 1.8M shares
Junto Capital Management LP Hedge Fund•Long/Short	−$56.3M −315.2K shares	Sold Off 0 shares
M MACQUARIE GROUP LTD Institution	−$53.2M −333.7K shares	$425.2M 2.7M shares
Mawer Investment Management Ltd. Long Only Manager	−$44.9M −282.1K shares	$375.9M 2.4M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited CDW in Q3 2025

New Positions: 32
New Value: $54.4M
Exited Positions: 106
Exited Value: $397.6M

New Positions

Institution	Position Value
B Border to Coast Pensions Partnership Ltd Institution	$29.6M 186.1K shares
Lighthouse Investment Partners, LLC Fund of Funds	$6.0M 37.9K shares
WEITZ INVESTMENT MANAGEMENT, INC. Long Only Manager	$5.7M 35.7K shares
Crawford Fund Management, LLC Hedge Fund•Long/Short	$3.7M 23.3K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$3.1M 19.4K shares
HOHIMER WEALTH MANAGEMENT, LLC RIA/Wealth	$2.2M 14.0K shares
Morningstar Investment Management LLC Long Only Manager	$1.0M 6.3K shares
V Volterra Technologies LP Hedge Fund•Quant	$636.0K 4.0K shares
SummitTX Capital, L.P. Hedge Fund•Multi-Strategy	$415.1K 2.6K shares
Voleon Capital Management LP Hedge Fund•Quant	$304.4K 1.9K shares

Exited Positions

Institution	Previous Position
Soroban Capital Partners LLC Hedge Fund•Long/Short	$264.7M 1.5M shares
Junto Capital Management LP Hedge Fund•Long/Short	$56.3M 315.2K shares
VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. Long Only Manager	$10.1M 56.8K shares
A AXA Institution	$7.1M 39.8K shares
I Impax Asset Management Group plc Long Only Manager	$6.7M 37.7K shares
WORLDQUANT MILLENNIUM QUANTITATIVE STRATEGIES LLC Hedge Fund•Multi-Strategy	$5.6M 31.5K shares
H HRT FINANCIAL LLC Institution	$5.4M 30.0K shares
C COOPER INVESTORS PTY LTD Institution	$4.7M 26.2K shares
A Andra AP-fonden Institution	$3.1M 17.4K shares
W Winton Capital Group Ltd Institution	$2.5M 14.0K shares

Options Activity

Institutions with the largest Call and Put options positions in CDW as of Q3 2025

Call Positions: 13
Call Value: $53.7M
Put Positions: 12
Put Value: $46.8M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$13.9M 872.0 contracts
J JANE STREET GROUP, LLC Institution	$9.9M 622.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$9.8M 615.0 contracts
R ROYAL BANK OF CANADA Institution	$9.6M 600.0 contracts
W WOLVERINE TRADING, LLC Institution	$4.9M 304.0 contracts
C Cubist Systematic Strategies, LLC Institution	$2.2M 135.0 contracts
V Volterra Technologies LP Hedge Fund•Quant	$1.6M 99.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$1.3M 81.0 contracts
Walleye Trading LLC RIA/Wealth	$446.0K 28.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$143.4K 9.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$38.4M 2.4K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$4.4M 276.0 contracts
C Cubist Systematic Strategies, LLC Institution	$1.3M 84.0 contracts
W WOLVERINE TRADING, LLC Institution	$811.3K 50.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$796.4K 50.0 contracts
V Volterra Technologies LP Hedge Fund•Quant	$509.7K 32.0 contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$366.3K 23.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$127.4K 8.0 contracts
Walleye Trading LLC RIA/Wealth	$111.5K 7.0 contracts
J JANE STREET GROUP, LLC Institution	- - contracts

Most Committed Institutions

Institutions with CDW as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Makaira Partners LLC Hedge Fund•Value	Thomas Moore Bancroft CIO	8.18% $15.9M	0.08% 100.0K shares	Q4 2013 Held for 11y 11m	$194.7M
C Clio Asset Management LLC RIA/Wealth	James George Aldige Managing Partner	7.71% $10.4M	0.05% 65.2K shares	Q2 2023 Held for 2y 5m	$134.7M
40 North Management LLC Hedge Fund•Multi-Strategy	Tunde Jain Reddy CFO	5.38% $109.1M	0.52% 685.0K shares	Q2 2023 Held for 2y 5m	$2.0B
Black Creek Investment Management Inc. Long Only Manager	Richard Lyle Jenkins Chairman	5.03% $106.8M	0.51% 670.3K shares	Q4 2024 Held for 11 months	$2.1B
Longview Partners LTD Long Only Manager	Elizabeth Mary Kate Campbell Managing Partner	4.31% $412.1M	1.97% 2.6M shares	Q4 2021 Held for 3y 11m	$9.6B
FENIMORE ASSET MANAGEMENT INC Long Only Manager	Anne B. Putnam CEO	3.67% $181.8M	0.87% 1.1M shares	Q1 2014 Held for 11y 8m	$5.0B
WEDGEWOOD PARTNERS INC Long Only Manager	William Mccormick Thomas CEO	3.50% $19.2M	0.09% 120.5K shares	Q3 2019 Held for 6y 2m	$547.9M
Mader & Shannon Wealth Management, Inc. RIA/Wealth	James W Mader CEO	3.49% $7.1M	0.03% 44.6K shares	Q1 2020 Held for 5y 8m	$204.0M
Broad Run Investment Management, LLC Long Only Manager	Ira Mitchell Rothberg Managing Partner	3.35% $20.5M	0.10% 128.5K shares	Q4 2020 Held for 4y 11m	$610.9M
U Unison Asset Management LLC Hedge Fund•Long/Short	Adam Samuel Jaffe CCO	3.30% $7.1M	0.03% 44.3K shares	Q4 2020 Held for 4y 11m	$214.0M

Hedge Fund Spotlight

Discover hedge funds investing in CDW

TWO SIGMA INVESTMENTS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerCarter Mayberry Lyons

Portfolio Value: $62.0B
Positions: 3,252
Last Reported: Q3 2025

Sector Allocation

Position in CDW

Market Value: $37.8M
Shares Held: 237.4K
Portfolio Weight: 0.06%
Owned Since: 2024-Q2

Top Holding	Sector	Market Value	Weight
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$680.4M	1.10%
2 Financial Select Sector SPDR Fund XLF	ETF ETF	$582.6M	0.94%
3 Consumer Staples Select Sector SPDR Fund XLP	ETF ETF	$489.6M	0.79%