CDW Corporation (NASDAQ: CDW) is a leading provider of IT solutions and services to businesses, government agencies, and educational institutions. Shares recently traded around $135 per share, giving the company a market capitalization of roughly $17.3B.
CDW’s stock has declined over the past year, with shares down about 22% over the last 12 months, trading near the lower end of its $133 to $223 52-week range. Looking at who owns CDW and how insiders have traded helps show how large investors appear to be positioning around the company today.
Who Are CDW’s Top Shareholders?
CDW’s shareholder base is led by large institutional investors, particularly passive asset managers. These firms often hold through market cycles, which can help keep long term ownership relatively stable. Active managers adjusted positions in both directions, showing a mix of confidence and caution.
- The Vanguard Group: 17,142,644 shares (13.17%), $2.28B value. Added 366,834 shares (+2.19%).
- BlackRock Institutional Trust Company: 7,330,593 shares (5.63%), $976.1M value. Cut 66,139 shares (0.89%).
- State Street Investment Management: 5,818,709 shares (4.47%), $774.8M value. Cut 25,302 shares (0.43%).
- Select Equity Group: 4,155,629 shares (3.19%), $553.4M value. Added 102,919 shares (+2.54%).
- Geode Capital Management: 3,678,079 shares (2.83%), $489.8M value. Added 48,060 shares (+1.32%).
- Boston Partners: 2,731,829 shares (2.10%), $363.8M value. Added 942,816 shares (+52.70%).
- Nomura Investment Management Business Trust: 2,666,438 shares (2.05%), $355.1M value. Cut 330,926 shares (11.04%).
- Longview Partners: 2,587,357 shares (1.99%), $344.5M value. Added 320,208 shares (+14.12%).
- Mawer Investment Management: 2,360,301 shares (1.81%), $314.3M value. Cut 282,067 shares (10.67%).
- MFS Investment Management: 2,240,300 shares (1.72%), $298.3M value. Cut 895,320 shares (28.55%).
For investors, the continued dominance of Vanguard, BlackRock, and State Street suggests a stable institutional foundation, while the sharp contrast between large additions from Boston Partners and sizable reductions from firms like MFS and Nomura highlights differing views on CDW’s valuation and near-term earnings outlook.
Hedge Fund Highlights
One notable move came from Schonfeld Strategic Advisors, founded by Steven Schonfeld, which increased its CDW stake by about 1,269% last quarter. The firm now holds roughly $8.5M value in the stock, which may suggest growing interest following CDW’s recent share price weakness.
Renaissance Technologies, founded by Jim Simons, boosted its position by nearly 797%, bringing total holdings to about $46.7M value. The increase appears meaningful and could indicate its quantitative models are turning more constructive on CDW at current levels.
Squarepoint Ops, led by Louis Bacon, raised its stake by roughly 367%, now holding around $39.5M value. The size of the increase stands out and may reflect improving confidence after the stock’s pullback.
AQR Capital Management, founded by Cliff Asness, also increased its exposure by about 142%, with total holdings of roughly $16.3M value, suggesting some value-oriented strategies may be finding CDW more attractive at today’s valuation.
For investors, hedge fund activity appears selective rather than unanimous, with several high-profile funds adding aggressively while others remain more cautious.
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CDW’s Recent Insider Activity
Insider trades can offer useful context on how executives and directors appear to be managing personal exposure to the stock. Recent filings for CDW show mostly small transactions that lean toward selling.
- Katherine Elizabeth Sanderson (Officer): Sold 2,572 shares at $163.13, approximately $420K.
- Joseph R. Swedish (Director): Small share transaction at $0.
- David W. Nelms (Director): Small share transaction at $0.
- Other directors and officers: One-digit to two-digit share movements at $0 prices.
For investors, insider activity appears limited in size and scope. The transactions do not materially change ownership, and it appears leadership is taking a measured approach at current price levels.
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What the Ownership & Insider Trade Data Tell Us
CDW’s ownership remains heavily institutional, with passive investors providing a steady base. Hedge fund positioning shows pockets of growing interest following the stock’s decline, while insider activity remains muted.
For investors, this combination suggests CDW is being reassessed rather than avoided. Institutional support remains intact, hedge funds are selectively stepping in, and insiders are not signaling strong conviction either way, leaving future performance more dependent on business execution and enterprise IT spending trends than ownership shifts alone.
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