Waste Connections (WCN) Fell 9% in Q2

Chautauqua Capital Management, a division of Baird Asset Management, is a boutique investment firm that released its second quarter 2025 investor letter for the “Baird Chautauqua International and Global Growth Fund”. A copy of the letter can be downloaded here. Global equity markets experienced a significant shift during the quarter, moving from notable losses to reaching new highs. Markets fell following the President’s announcement of unexpectedly severe tariffs, which raised recession fears. After a brief pause on tariffs, markets regained confidence, closing the quarter at or near all-time highs. In this environment, the Baird Chautauqua International Growth Fund underperformed its benchmark during the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its second-quarter 2025 investor letter, Baird Chautauqua International and Global Growth Fund highlighted stocks such as Waste Connections, Inc. (NYSE:WCN). Waste Connections, Inc. (NYSE:WCN) offers non-hazardous waste collection, transfer, disposal, and resource recovery services. The one-month return of Waste Connections, Inc. (NYSE:WCN) was -6.71%, and its shares lost 3.58% of their value over the last 52 weeks. On September 26, 2025, Waste Connections, Inc. (NYSE:WCN) stock closed at $172.41 per share, with a market capitalization of $44.329 billion.

Baird Chautauqua International and Global Growth Fund stated the following regarding Waste Connections, Inc. (NYSE:WCN) in its second quarter 2025 investor letter:

“Waste Connections, Inc. (NYSE:WCN) reported a strong 1Q25 driven by solid waste pricing; however, shares fell 9% in 2Q after a 14% gain in 1Q. There may have been some investor disappointment that management did not raise guidance for the year. Recycled commodity prices declined 10%, but recycling represents only 2% of total revenues. Overall, the company is performing well operationally.”

Why Waste Connections Inc (WCN) Is Up the Most So Far in 2025

Waste Connections, Inc. (NYSE:WCN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 43 hedge fund portfolios held Waste Connections, Inc. (NYSE:WCN) at the end of the second quarter, up from 41 in the previous quarter.  While we acknowledge the risk and potential of Waste Connections, Inc. (NYSE:WCN) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Waste Connections, Inc. (NYSE:WCN) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

In another article, we covered Waste Connections, Inc. (NYSE:WCN) and shared Macquarie Large Cap Growth Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.