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1,718 hedge funds and large institutions have $123B invested in Shopify in 2025 Q3 according to their latest regulatory filings, with 276 funds opening new positions, 559 increasing their positions, 621 reducing their positions, and 83 closing their positions.

New
Increased
Maintained
Reduced
Closed

233% more first-time investments, than exits

New positions opened: 276 | Existing positions closed: 83

48% more funds holding in top 10

Funds holding in top 10: 48 → 71 (+23)

36% more call options, than puts

Call options by funds: $4.52B | Put options by funds: $3.32B

27% more capital invested

Capital invested by funds: $97.4B → $123B (+$26B)

10% more funds holding

Funds holding: 1,555 → 1,718 (+163)

10% less repeat investments, than reductions

Existing positions increased: 559 | Existing positions reduced: 621

1.29% less ownership

Funds ownership: 69.27% → 67.98% (-1.3%)

Holders
1,718
Holders Change
+163
Holders Change %
+10.48%
% of All Funds
22.55%
Holding in Top 10
71
Holding in Top 10 Change
+23
Holding in Top 10 Change %
+47.92%
% of All Funds
0.93%
New
276
Increased
559
Reduced
621
Closed
83
Calls
$4.52B
Puts
$3.32B
Net Calls
+$1.19B
Net Calls Change
+$458M

Top Buyers

1
Jennison Associates
Jennison Associates
New York
+$1B
2
JP Morgan Chase
JP Morgan Chase
New York
+$730M
3
Invesco
Invesco
Georgia
+$381M
4
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
+$355M
5
Bank of Montreal
Bank of Montreal
Ontario, Canada
+$314M

Top Sellers

1
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
-$711M
2
Capital World Investors
Capital World Investors
California
-$592M
3
Polen Capital Management
Polen Capital Management
Florida
-$492M
4
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
-$486M
5
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
-$312M
Name Holding Trade Value Shares
Change 		Change in
Stake
BW
1151
BXM Wealth
Colorado
$442K +$99K +730 +33%
NRG
1152
Nemes Rush Group
Michigan
$438K +$8.68K +64 +2%
SCM
1153
Saxony Capital Management
Missouri
$437K -$63.6K -469 -14%
VAG
1154
VisionPoint Advisory Group
Texas
$433K +$22.6K +167 +6%
Koshinski Asset Management
1155
Koshinski Asset Management
Illinois
$432K +$41.2K +304 +12%
GH
1156
GAM Holding
Switzerland
$431K +$393K +2,900 New
HAS
1157
HBW Advisory Services
California
$431K -$15K -111 -4%
BFO
1158
Boston Family Office
Massachusetts
$428K – – –
GI
1159
GAMCO Investors
Connecticut
$428K – – –
BPC
1160
Banque Pictet & Cie
Switzerland
$428K +$390K +2,878 New
TP
1161
Tranquility Partners
Tennessee
$425K +$388K +2,859 New
SWM
1162
Steinberganna Wealth Management
New York
$425K +$387K +2,857 New
SF
1163
Seros Financial
Arizona
$424K +$10.2K +75 +3%
PAS
1164
Parsonex Advisory Services
Colorado
$424K -$678 -5 -0.2%
JWBC
1165
J.W. Burns & Co
New York
$424K – – –
ACM
1166
Advisors Capital Management
New Jersey
$423K +$150K +1,103 +63%
CF
1167
Centaurus Financial
California
$422K +$132K +974 +52%
ECM
1168
EMC Capital Management
Texas
$420K – – –
MCM
1169
Moore Capital Management
New York
$419K +$382K +2,821 New
AFT
1170
Alpha Family Trust
California
$419K – – –
WPC
1171
Wedmont Private Capital
Pennsylvania
$416K +$65.5K +483 +23%
AFS
1172
Anderson Financial Strategies
Ohio
$416K – – –
TWP
1173
Triad Wealth Partners
Kansas
$415K +$378K +2,791 New
FWCM
1174
Ferguson Wellman Capital Management
Oregon
$412K +$44.1K +325 +13%
DIA
1175
Dana Investment Advisors
Wisconsin
$411K -$20.7K -153 -5%
45 46
47
48 49

SHOP Hedge Fund Activity: Q3 2025 in Review

1,718 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Shopify (SHOP) for Q3 2025, worth a combined $123B — up 27% from $97.4B a quarter earlier.

Buyers outnumbered sellers: 276 funds opened new SHOP positions and 83 closed out — a net gain of 193 holders — while 559 added to existing stakes and 621 trimmed.

The largest buyer was Jennison Associates, adding an estimated $1B. The largest seller was T. Rowe Price Associates, cutting an estimated $711M.

  • 1,718 institutional investors held Shopify (SHOP) as of Q3 2025, up from 1,555 in Q2 2025.
  • Funds reported $123B of Shopify stock for Q3 2025, up 27% quarter-over-quarter.
  • 276 funds opened new Shopify positions in Q3 2025 and 83 closed out, a net change of +193 holders.
  • The largest Shopify buyer in Q3 2025 was Jennison Associates, an estimated $1B added.
  • The largest Shopify seller in Q3 2025 was T. Rowe Price Associates, an estimated $711M sold.

Based on aggregated 13F filings for Q3 2025.