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1,038 hedge funds and large institutions have $59.1B invested in Cloudflare in 2025 Q3 according to their latest regulatory filings, with 176 funds opening new positions, 406 increasing their positions, 320 reducing their positions, and 71 closing their positions.

New
Increased
Maintained
Reduced
Closed

148% more first-time investments, than exits

New positions opened: 176 | Existing positions closed: 71

75% more call options, than puts

Call options by funds: $2.71B | Put options by funds: $1.55B

27% more repeat investments, than reductions

Existing positions increased: 406 | Existing positions reduced: 320

10% more funds holding

Funds holding: 946 → 1,038 (+92)

9% more capital invested

Capital invested by funds: $54.3B → $59.1B (+$4.81B)

1.17% less ownership

Funds ownership: 89.39% → 88.22% (-1.2%)

17% less funds holding in top 10

Funds holding in top 10: 23 → 19 (-4)

Holders
1,038
Holders Change
+92
Holders Change %
+9.73%
% of All Funds
13.62%
Holding in Top 10
19
Holding in Top 10 Change
-4
Holding in Top 10 Change %
-17.39%
% of All Funds
0.25%
New
176
Increased
406
Reduced
320
Closed
71
Calls
$2.71B
Puts
$1.55B
Net Calls
+$1.16B
Net Calls Change
+$252M

Top Buyers

1
JP Morgan Chase
JP Morgan Chase
New York
+$701M
2
BlackRock
BlackRock
New York
+$243M
3
Bank of America
Bank of America
North Carolina
+$188M
4
Two Sigma Advisers
Two Sigma Advisers
New York
+$170M
5
Vanguard Group
Vanguard Group
Pennsylvania
+$168M

Top Sellers

1
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
-$751M
2
Sands Capital Management
Sands Capital Management
Virginia
-$229M
3
Fidelity Investments
Fidelity Investments
Massachusetts
-$217M
4
Morgan Stanley
Morgan Stanley
New York
-$209M
5
1832 Asset Management
1832 Asset Management
Ontario, Canada
-$127M
Name Holding Trade Value Shares
Change 		Change in
Stake
SA
1026
Strategic Advocates
Utah
$1.07K +$1.02K +5 New
VNA
1027
Valley National Advisers
Pennsylvania
$1K +$1.02K +5 New
PS
1028
PayPay Securities
Japan
$978 +$408 +2 +67%
DF
1029
DecisionPoint Financial
Arizona
$869 -$5.1K -25 -86%
DAM
1030
Delta Asset Management
Tennessee
$858 – – –
BHWM
1031
Beaird Harris Wealth Management
Texas
$644 +$612 +3 New
BIM
1032
Breakwater Investment Management
Washington
$644 +$612 +3 New
JFGIW
1033
Johnson Financial Group Inc (Wisconsin)
Wisconsin
$644 +$612 +3 New
SA
1034
Seneschal Advisors
Washington
$430 +$408 +2 New
HIA
1035
HFM Investment Advisors
New Jersey
$429 – – –
HNW
1036
High Note Wealth
Minnesota
$429 +$408 +2 New
TPBG
1037
Turning Point Benefit Group
Maryland
$217 +$204 +1 New
CAC
1038
Core Alternative Capital
Georgia
$215 – – –
RJA
1039
Ross\Johnson & Associates
Minnesota
$215 – – –
Norges Bank
1040
Norges Bank
Norway
– -$541M -2,764,959 Closed
Axa
1041
Axa
France
– -$50.8M -259,364 Closed
LA
1042
Linden Advisors
New York
– -$48.7M -248,523 Closed
D.E. Shaw & Co
1043
D.E. Shaw & Co
New York
– -$50.6M -247,726 Closed
SAG
1044
Susquehanna Advisors Group
Pennsylvania
– -$16M -81,790 Closed
LWM
1045
Long Walk Management
Connecticut
– -$16M -81,765 Closed
MCM
1046
Maytus Capital Management
New York
– -$8.9M -45,464 Closed
SPC
1047
Square Peg Capital
Australia
– -$8.28M -42,259 Closed
NG
1048
NWK Group
California
– -$6.2M -31,663 Closed
LP
1049
LMR Partners
United Kingdom
– -$5.87M -30,000 Closed
AAI
1050
Aequim Alternative Investments
California
– -$4.61M -23,519 Closed
40 41
42
43 44

NET Hedge Fund Activity: Q3 2025 in Review

1,038 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Cloudflare (NET) for Q3 2025, worth a combined $59.1B — up 8.9% from $54.3B a quarter earlier.

Buyers outnumbered sellers: 176 funds opened new NET positions and 71 closed out — a net gain of 105 holders — while 406 added to existing stakes and 320 trimmed.

The largest buyer was JP Morgan Chase, adding an estimated $701M. The largest seller was Baillie Gifford & Co, cutting an estimated $751M.

  • 1,038 institutional investors held Cloudflare (NET) as of Q3 2025, up from 946 in Q2 2025.
  • Funds reported $59.1B of Cloudflare stock for Q3 2025, up 8.9% quarter-over-quarter.
  • 176 funds opened new Cloudflare positions in Q3 2025 and 71 closed out, a net change of +105 holders.
  • The largest Cloudflare buyer in Q3 2025 was JP Morgan Chase, an estimated $701M added.
  • The largest Cloudflare seller in Q3 2025 was Baillie Gifford & Co, an estimated $751M sold.

Based on aggregated 13F filings for Q3 2025.