Hi Gabe

Not sure if this is the logic you want to apply, but you may want to add join clauses for the FundID. Should improve it considerably. I have bolded the changes I made

;with Propagate as (

select

TradingDate = b.TradingDate,

SharesOutstanding = a.SharesOutstanding,

AsOfDate = b.AsOfDate,

FundID = a.FundID

from #Stocks a

inner join (

select

FundID = s2.FundID,

TradingDate = s2.TradingDate,

AsOfDate = max(s1.SharesOutstandingChangeDate)

from #Stocks s1

inner join #Stocks s2 on s1.SharesOutstandingChangeDate <= s2.TradingDate

and s1.FundID = s2.FundID

group by s2.FundID, s2.TradingDate

) b on a.TradingDate = b.AsOfDate

and a.FundID = b.FundID

)

--update s

--set SharesOutstanding = p.SharesOutstanding

select *

from #Stocks s

inner join Propagate p

on s.TradingDate = p.TradingDate

and s.FundID = p.FundID