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Cloudflare
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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
CIC
126
Carnegie Investment Counsel
Ohio
$32.8M -$5.16M -25,285 -14%
HIC
127
Hartline Investment Corp
Illinois
$32.4M +$961K +4,709 +3%
RMCM
128
Reynders McVeigh Capital Management
Massachusetts
$31.9M -$1.65M -8,092 -5%
APG Asset Management
129
APG Asset Management
Netherlands
$31.8M +$1M +4,900 +3%
CI
130
Capital International
California
$31.5M -$1.32M -6,445 -4%
National Bank of Canada
131
National Bank of Canada
Quebec, Canada
$30.9M +$27.7M +135,492 +1,553%
CII
132
Capital International Inc
California
$30.6M +$1.61M +7,895 +6%
Treasurer of the State of North Carolina
133
Treasurer of the State of North Carolina
North Carolina
$29.8M -$1.1M -5,409 -4%
BNP Paribas Financial Markets
134
BNP Paribas Financial Markets
France
$29.8M +$2.51M +12,277 +10%
Parnassus Investments
135
Parnassus Investments
California
$27.8M -$203K -995 -0.8%
Ohio Public Employees Retirement System (OPERS)
136
Ohio Public Employees Retirement System (OPERS)
Ohio
$25.7M +$32.9K +161 +0.1%
Bank of Nova Scotia
137
Bank of Nova Scotia
Ontario, Canada
$25.1M +$22M +107,554 +1,139%
MSV
138
MN Services Vermogensbeheer
Netherlands
$25.1M +$286K +1,400 +1%
LIP
139
Liontrust Investment Partners
United Kingdom
$25M -$179K -876 -0.7%
EAM
140
Erste Asset Management
Austria
$24.5M -$249K -1,220 -1%
KK
141
KLP Kapitalforvaltning
Norway
$24.2M +$81.7K +400 +0.4%
State of New Jersey Common Pension Fund D
142
State of New Jersey Common Pension Fund D
New Jersey
$23.3M +$961K +4,706 +5%
Zurich Cantonal Bank
143
Zurich Cantonal Bank
Switzerland
$23.1M -$1.97M -9,651 -8%
Osaic Holdings
144
Osaic Holdings
Arizona
$23M +$9.97M +48,826 +83%
NC
145
NZS Capital
Colorado
$22.7M -$39.8M -194,752 -65%
WTC
146
WhitTier Trust Company
Nevada
$22.6M +$883K +4,325 +4%
Stifel Financial
147
Stifel Financial
Missouri
$21.9M +$4.27M +20,923 +26%
PMAM
148
Picton Mahoney Asset Management
Ontario, Canada
$21.8M -$5.69M -27,886 -22%
Vontobel Holding
149
Vontobel Holding
Switzerland
$21.6M +$4.95M +24,268 +32%
LF
150
Lansforsakringar Fondforvaltning
Sweden
$21.1M +$504K +2,470 +3%
4 5
6
7 8

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.