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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
ACM
1251
Aspen Capital Management
Idaho
$342K – – –
ST
1252
Spinnaker Trust
Maine
$341K +$5.56K +41 +2%
BCWM
1253
Bartlett & Co Wealth Management
Ohio
$340K – – –
FAFN
1254
First Affirmative Financial Network
Colorado
$338K +$10.2K +75 +3%
MSWM
1255
McGlone Suttner Wealth Management
Wisconsin
$337K – – –
LWM
1256
Laidlaw Wealth Management
New York
$337K +$36.2K +267 +13%
MFG
1257
Magnus Financial Group
New York
$334K -$25.5K -188 -8%
PFG
1258
Prosperity Financial Group
California
$334K +$6.37K +47 +2%
FNC
1259
First National Corp
Massachusetts
$334K – – –
AWM
1260
Abound Wealth Management
Tennessee
$332K +$6.24K +46 +2%
NAS
1261
NWF Advisory Services
California
$332K – – –
JC
1262
Jacobs & Co
California
$331K -$33.9K -250 -10%
BA
1263
Bristlecone Advisors
Washington
$331K +$949 +7 +0.3%
CIA
1264
Caerus Investment Advisors
Texas
$330K – – –
CRC
1265
Curi RMB Capital
Illinois
$330K +$29.8K +220 +11%
CFP
1266
Cypress Financial Planning
New Jersey
$329K -$39K -288 -12%
BA
1267
Ballast Advisors
Minnesota
$329K -$16.5K -122 -5%
T
1268
TrueFG
Texas
$328K – – –
SPC
1269
Spirepoint Private Client
Florida
$328K +$26K +192 +10%
QPBE
1270
Quintet Private Bank (Europe)
Luxembourg
$327K -$19.9K -147 -6%
MMM
1271
Mendel Money Management
Illinois
$327K – – –
PFPT
1272
Pinnacle Financial Partners (Tennessee)
Tennessee
$325K -$12.9K -95 -4%
CP
1273
Canopy Partners
Ohio
$323K +$14.4K +106 +5%
SI
1274
Stonekeep Investments
New Mexico
$323K -$2.31K -17 -0.8%
CWG
1275
Cornerstone Wealth Group
North Carolina
$322K -$183K -1,348 -38%
49 50
51
52 53

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.