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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
MWM
1351
Maripau Wealth Management
Indiana
$271K +$247K +1,823 New
SCA
1352
Stonebridge Capital Advisors
Minnesota
$270K – – –
SIMG
1353
Stephens Investment Management Group
Texas
$270K -$59.5K -439 -19%
CBA
1354
Coastal Bridge Advisors
Connecticut
$269K -$4.61K -34 -2%
IA
1355
IFG Advisory
Georgia
$269K – – –
PWA
1356
Provenance Wealth Advisors
Florida
$267K +$36.1K +266 +17%
RWM
1357
Reston Wealth Management
Virginia
$266K +$243K +1,789 New
MCC
1358
Money Concepts Capital
Florida
$264K +$241K +1,779 New
DLA
1359
Douglas Lane & Associates
New York
$263K -$14.1K -104 -6%
NWWA
1360
New Wave Wealth Advisors
Arkansas
$263K -$5.02K -37 -2%
GPA
1361
Guerra Pan Advisors
New Jersey
$262K – – –
JJBC
1362
James J. Burns & Company
New York
$261K – – –
SSWM
1363
Smith Salley Wealth Management
North Carolina
$261K -$57.3K -423 -19%
IPAM
1364
Investment Partners Asset Management
New Jersey
$260K -$8.81K -65 -4%
IBOK
1365
Independence Bank of Kentucky
Kentucky
$260K – – –
ME
1366
McIlrath & Eck
Washington
$260K +$6.78K +50 +3%
TPW
1367
Turn8 Private Wealth
$259K +$236K +1,743 New
CA
1368
Calton & Associates
Florida
$259K -$12.7K -94 -5%
GCA
1369
Gallagher Capital Advisors
Texas
$259K +$206K +1,517 New
OL
1370
Optas LLC
Texas
$258K -$5.56K -41 -2%
BSSFA
1371
Baron Silver Stevens Financial Advisors
Florida
$258K – – –
MMCM
1372
Murphy & Mullick Capital Management
New York
$258K +$6.78K +50 +3%
WFA
1373
Wellspring Financial Advisors
Ohio
$258K -$8.41K -62 -3%
CW
1374
Channel Wealth
California
$258K +$235K +1,733 New
SWA
1375
SFMG Wealth Advisors
Texas
$257K +$235K +1,731 New
53 54
55
56 57

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.