DoubleVerify
294 hedge funds and large institutions have $1.9B invested in DoubleVerify in 2025 Q4 according to their latest regulatory filings, with 49 funds opening new positions, 123 increasing their positions, 101 reducing their positions, and 73 closing their positions.
83% more call options, than puts
Call options by funds: $9.38M | Put options by funds: $5.11M
22% more repeat investments, than reductions
Existing positions increased: 123 | Existing positions reduced: 101
3.49% more ownership
Funds ownership: 99.37% → 102.86% (+3.5%)
3% less capital invested
Capital invested by funds: $1.96B → $1.9B (-$66.4M)
10% less funds holding
Funds holding: 326 → 294 (-32)
33% less first-time investments, than exits
New positions opened: 49 | Existing positions closed: 73
40% less funds holding in top 10
Funds holding in top 10: 5 → 3 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TCM
Topline Capital Management
Santa Monica,
California
|
+$93.2M |
| 2 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$38.4M |
| 3 |
AQR Capital Management
Greenwich,
Connecticut
|
+$32M |
| 4 |
Boston Partners
Boston,
Massachusetts
|
+$20M |
| 5 |
SCM
SG Capital Management
Chicago,
Illinois
|
+$11.3M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AAM
Arohi Asset Management
Singapore
|
-$20.6M |
| 2 |
SM
Sunriver Management
Greenwich,
Connecticut
|
-$18.2M |
| 3 |
Jane Street
New York
|
-$15.2M |
| 4 |
AFCM
Alta Fox Capital Management
Fort Worth,
Texas
|
-$14.8M |
| 5 |
BCM
Brown Capital Management
Baltimore,
Maryland
|
-$11.1M |
DV Hedge Fund Activity: Q4 2025 in Review
294 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in DoubleVerify (DV) for Q4 2025, worth a combined $1.9B — down 3.4% from $1.96B a quarter earlier.
Sellers outnumbered buyers: 73 funds closed out of DV and 49 opened new positions — a net loss of 24 holders — while 101 trimmed existing stakes and 123 added.
The largest buyer was Topline Capital Management, opening a new position worth an estimated $93.2M. The largest seller was Arohi Asset Management, exiting entirely with an estimated $20.6M sold.
- 294 institutional investors held DoubleVerify (DV) as of Q4 2025, down from 326 in Q3 2025.
- Funds reported $1.9B of DoubleVerify stock for Q4 2025, down 3.4% quarter-over-quarter.
- 49 funds opened new DoubleVerify positions in Q4 2025 and 73 closed out, a net change of -24 holders.
- The largest DoubleVerify buyer in Q4 2025 was Topline Capital Management, an estimated $93.2M added.
- The largest DoubleVerify seller in Q4 2025 was Arohi Asset Management, an estimated $20.6M sold.
Based on aggregated 13F filings for Q4 2025.