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Dropbox
DBX

470 hedge funds and large institutions have $5.96B invested in Dropbox in 2025 Q3 according to their latest regulatory filings, with 69 funds opening new positions, 153 increasing their positions, 178 reducing their positions, and 62 closing their positions.

New
Increased
Maintained
Reduced
Closed

302% more call options, than puts

Call options by funds: $311M | Put options by funds: $77.5M

11% more first-time investments, than exits

New positions opened: 69 | Existing positions closed: 62

2.91% more ownership

Funds ownership: 98.97% → 101.89% (+2.9%)

3% more capital invested

Capital invested by funds: $5.79B → $5.96B (+$166M)

0% more funds holding

Funds holding: 468 → 470 (+2)

14% less repeat investments, than reductions

Existing positions increased: 153 | Existing positions reduced: 178

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
470
Holders Change
+2
Holders Change %
+0.43%
% of All Funds
6.17%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
69
Increased
153
Reduced
178
Closed
62
Calls
$311M
Puts
$77.5M
Net Calls
+$234M
Net Calls Change
+$92.2M

Top Buyers

1
LSV Asset Management
LSV Asset Management
Illinois
+$91.7M
2
Citadel Advisors
Citadel Advisors
Florida
+$29.2M
3
Allianz Asset Management
Allianz Asset Management
Germany
+$19.6M
4
Northern Trust
Northern Trust
Illinois
+$16M
5
BA
Bridgewater Associates
Connecticut
+$14.2M

Top Sellers

1
Ameriprise
Ameriprise
Minnesota
-$102M
2
BlackRock
BlackRock
New York
-$35.3M
3
Vanguard Group
Vanguard Group
Pennsylvania
-$32.5M
4
Morgan Stanley
Morgan Stanley
New York
-$32.3M
5
Fidelity Investments
Fidelity Investments
Massachusetts
-$24.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
DT
176
Diversified Trust
Tennessee
$1.47M – – –
COPPSERS
177
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
$1.43M -$83.3K -2,914 -6%
VA
178
Vident Advisory
Georgia
$1.43M +$738K +25,807 +120%
LAM
179
Lakewood Asset Management
Illinois
$1.34M +$20.2K +705 +2%
SOMRS
180
State of Michigan Retirement System
Michigan
$1.33M -$88.7K -3,100 -7%
VPIM
181
Vanguard Personalized Indexing Management
California
$1.32M -$6.12K -214 -0.5%
VEA
182
Virtus ETF Advisers
New York
$1.31M +$213K +7,456 +21%
Mercer Global Advisors
183
Mercer Global Advisors
Colorado
$1.25M +$32.7K +1,145 +3%
NMIMC
184
Northwestern Mutual Investment Management Company
Wisconsin
$1.25M -$73.1K -2,557 -6%
PI
185
PineBridge Investments
New York
$1.23M -$2.84M -99,438 -71%
PCP
186
Perbak Capital Partners
United Kingdom
$1.21M +$670K +23,436 +141%
PP
187
Prudential plc
United Kingdom
$1.19M -$825K -28,850 -42%
RIM
188
Redwood Investment Management
Arizona
$1.18M -$246K -8,599 -18%
NAAA
189
New Age Alpha Advisors
New York
$1.16M -$27K -943 -2%
DLHL
190
Donald L. Hagan LLC
Florida
$1.16M -$39.8K -1,390 -3%
HIM
191
Hillsdale Investment Management
Ontario, Canada
$1.16M +$174K +6,100 +19%
NMERB
192
New Mexico Educational Retirement Board
New Mexico
$1.15M -$217K -7,600 -17%
SC
193
SummitTX Capital
Texas
$1.15M +$409K +14,314 +60%
SA
194
Strategic Advocates
Utah
$1.14M +$16.1K +563 +2%
OPERF
195
Oregon Public Employees Retirement Fund
Oregon
$1.13M -$82.9K -2,900 -7%
CF
196
Centaurus Financial
California
$1.12M -$30.4K -1,063 -3%
KIM
197
Kestra Investment Management
Texas
$1.12M +$376K +13,161 +55%
VI
198
Versor Investments
New York
$1.11M +$1.06M +36,900 New
SDIC
199
South Dakota Investment Council
South Dakota
$1.11M +$80.1K +2,800 +8%
GWMR
200
GC Wealth Management RIA
Massachusetts
$1.1M +$1.05M +36,570 New
6 7
8
9 10

DBX Hedge Fund Activity: Q3 2025 in Review

470 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Dropbox (DBX) for Q3 2025, worth a combined $5.96B — up 2.9% from $5.79B a quarter earlier.

Buyers outnumbered sellers: 69 funds opened new DBX positions and 62 closed out — a net gain of 7 holders — while 153 added to existing stakes and 178 trimmed.

The largest buyer was LSV Asset Management, adding an estimated $91.7M. The largest seller was Ameriprise, cutting an estimated $102M.

  • 470 institutional investors held Dropbox (DBX) as of Q3 2025, up from 468 in Q2 2025.
  • Funds reported $5.96B of Dropbox stock for Q3 2025, up 2.9% quarter-over-quarter.
  • 69 funds opened new Dropbox positions in Q3 2025 and 62 closed out, a net change of +7 holders.
  • The largest Dropbox buyer in Q3 2025 was LSV Asset Management, an estimated $91.7M added.
  • The largest Dropbox seller in Q3 2025 was Ameriprise, an estimated $102M sold.

Based on aggregated 13F filings for Q3 2025.