What smart money is saying about CME Group
5 funds in our archive have pitched CME Group — most recently Manole Capital Management FINTECH Strategy in September 2026.
CME Group Inc., through its various subsidiaries, manages international marketplaces for the exchange of futures and options on futures contracts worldwide. Its extensive array of product offerings includes futures and options linked to a broad spectrum of underlying assets, such as interest rates, equity indices, foreign exchange, agricultural commodities, energy, and metals, alongside fixed-income products. The company additionally furnishes essential clearinghouse services, which entail the verification, settlement, and guarantee of futures, options, and cleared swap agreements traded across its venues. It also offers services for transaction processing and risk mitigation. Furthermore, the organization provides diverse market data services, encompassing both real-time and historical data feeds. Its wide-ranging client base consists of professional traders, financial institutions, both institutional and individual investors, corporations, manufacturers, producers, governments, and central banks. Founded in Chicago, Illinois, in 1898, the enterprise was formerly known as Chicago Mercantile Exchange Holdings Inc. before rebranding as CME Group Inc. in July 2007.
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Position history
Between Q2 2025 and Q3 2026, 17 fund letters reported a position in CME Group — 3 opened or added to the position, 3 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 2 | 0 | 0 | 1 |
| Q2 2026 | 14 | 3 | 3 | 1 |
| Q1 2026 | 1 | 0 | 0 | 1 |
| Q3 2025 | 0 | 0 | 0 | 1 |
| Q2 2025 | 0 | 0 | 0 | 1 |
Fund activity · 17 positions · 6 moves
- September 2026
“Today's exchange landscape extends far beyond the trading pits depicted in Trading Places. Organizations such as CME Group, Intercontinental Exchange, Nasdaq, and CBOE Global Markets facilitate enormous amounts of trading activity.”
CME Group - July 2026
Listed in WS Lindsell Train North American Equity Fund’s reported holdings.
CME Group - June 2026
Listed in Harding Loevner Global Equity’s reported holdings.
CME Group - June 2026
“We have had the opportunity to invest in a couple of new businesses this quarter, and the great opportunity to invest more in some of our current holdings. We increased our stakes in AutoZone, CME Group, and Progressive. We also made a new investment in McKesson Corporation and had other smaller purchases.”
CME Group - June 2026
“• From a stock selection perspective, Financials acted as a headwind given that banks (which the Fund does not own) generally performed well in May while the exchanges that are held in the Fund (such as CME and Deutsche Boerse) struggled.”
CME Group - June 2026
“Of course, there will always be instances where negative sentiment correctly reflects a deterioration in a company's fundamentals. In the case of CME, the Chicago-based derivatives marketplace, this comes in the form of a more complicated relationship with its regulator. When we first invested, one of CME's key strengths was its close ties with the Commodity Futures Trading Commission, the CFTC. This has deteriorated quickly, as the current administration has moved to replace CFTC executives with individuals sympathetic to new rules on polymarkets and cryptocurrencies. This is a significantly negative development for CME's competitive position and we have moved quickly to sell the holding.”
CME Group - June 2026
“Of course, there will always be instances where negative sentiment correctly reflects a deterioration in a company's fundamentals. In the case of CME, the Chicago-based derivatives marketplace, this comes in the form of a more complicated relationship with its regulator. When we first invested, one of CME's key strengths was its close ties with the Commodity Futures Trading Commission, the CFTC. This has deteriorated quickly, as the current administration has moved to replace CFTC executives with individuals sympathetic to new rules on polymarkets and cryptocurrencies. This is a significantly negative development for CME's competitive position and we have moved quickly to sell the holding.”
CME Group - June 2026
“Top detractors from performance for the quarter Quarter End Market Cap ($B) Contribution to Return (%) CME Group, Inc. 80.0 (0.59) Intuit Inc. 76.9 (0.47) LPL Financial Holdings Inc. 22.5 (0.14) S&P Global Inc. 123.5 (0.09) Thermo Fisher Scientific Inc. 162.9 (0.06) CME Group, Inc. operates the world’s largest and most diversified derivatives marketplace. Shares fell 24.8% due to a slowdown in trading activity, reflecting tough comparisons against the prior year and easing market volatility following the onset of the U.S.-Iran war in March. This cyclical softening was exacerbated by concerns over emerging competition from crypto-native “perpetual futures” and uncertainty triggered by the announcement that long-time CEO Terry Duffy will step down next year. We continue to own the stock because we believe that CME enjoys significant competitive advantages and should benefit from increasing adoption of exchange-traded derivatives and episodic volatility spikes.”
CME Group - June 2026
“CME Group was our largest addition during the quarter.”
CME Group - HoldsBaron Financials ETFJune 2026
“We continue to own the stock because we believe CME enjoys significant competitive advantages and should benefit from the growing adoption of exchange-traded derivatives and periodic spikes in market volatility.”
CME Group “TOP DETRACTORS Advanced Micro Devices holds a favorable position in the growing CPU market. Prior to inclusion in the Multi Cap Core Strategy, the company’s positive stock return hurt relative performance. Micron Technology holds a favorable position in the growing high bandwidth memory market. Prior to inclusion in the Multi Cap Core Strategy, the company’s positive stock return hurt relative performance. CME Group’s stock retreated due to competitive concerns after the Commodity Futures Trading Commission approved Kalshi’s application to launch perpetual futures contracts on Bitcoin.”
CME Group- June 2026
“CME Group, Inc. operates the world’s largest and most diversified derivatives marketplace. Shares fell 24.8% due to a slowdown in trading activity, reflecting tough comparisons against the prior year and easing market volatility following the onset of the U.S.-Iran war in March. This cyclical softening was exacerbated by concerns over emerging competition from crypto-native “perpetual futures” and uncertainty triggered by the announcement that long-time CEO Terry Duffy will step down next year. We continue to own the stock because we believe that CME enjoys significant competitive advantages and should benefit from increasing adoption of exchange-traded derivatives and episodic volatility spikes.”
CME Group - HoldsHamlin Capital Management Equity and High Yield Municipal Bond StrategiesJune 2026
“CME, ConocoPhillips, and SLB were the largest detractors during the quarter, declining 17.85% on average.”
CME Group - June 2026
“Our largest additions included the following names: CME Group, TSMC, Amazon, NVIDIA, Alphabet, Visa, ASML, S&P Global, Stevanato Group, and Brookfield.”
CME Group - HoldsMayTech Global Investments Global Growth StrategyJune 2026
“CME Group came under pressure after regulators approved a new type of cryptocurrency futures contract, raising concerns about increased competition.”
CME Group - June 2026
“Companies such as CME, Robinhood, Miami Exchange, and Schwab have all benefited directly or indirectly from growing interest in event driven trading, retail engagement and expanding market participation.”
CME Group - March 2026
Listed in HL Global Carbon Transition Equity’s reported holdings.
CME Group
Also mentioned · 4
These funds discuss CME Group — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedGuinness Global Innovators FundAugust 2026
“CME Chairman and CEO, Terry Duffy: "The first half of 2026 was the strongest in CME Group's history... powered by record trading in Q1 and our second-highest Q2 volumes ever."”
CME Group - MentionedACATIS Investment ReportJuly 2026
“The potential pressure from the com- petition also weighed heavily on the stock of Intercontinental Ex- change and the Chicago Mercantile Exchange in June.”
CME Group - June 2026
“Our bottom five contributors to return in Q2 were Accenture, CME Group, Salesforce, Boston Scientific and EOG Resources.”
CME Group - MentionedGreensKeeper Value FundJune 2026
“Nevertheless, ICE’s shares declined alongside peers including Cboe Global Markets (CBOE) and CME Group (CME), amid concerns of a cyclical peak in earnings.”
CME Group
Fund coverage · 5 theses
- Manole Capital Management FINTECH StrategySeptember 2026
CME Group is presented as a high-quality exchange business with recurring fees, data and infrastructure revenue, network effects, and durable price-discovery relevance.
Read the full thesis - Manole Capital ManagementJune 2026
CME Group benefits from rising event-driven trading and market participation as exchanges become more valuable information and price-discovery networks.
Read the full thesis - Alpha Wealth FundsMarch 2026
CME Group is a near-monopoly derivatives exchange offering a structural hedge on market volatility.
Read the full thesis - Cooper Investors Global Equities FundSeptember 2025
CME Group is the largest global derivatives exchange operator with high operating margins, strong network effects, and stable royalty-like revenues.
Read the full thesis - Baron Durable Advantage FundJune 2025
CME Group, Inc. is a leading financial exchange benefiting from increased demand for derivatives during market volatility, with competitive advantages that ensure strong margins and returns for shareholders.
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