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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
FI
1401
Finivi Inc
Massachusetts
$240K +$219K +1,614 New
JFGIW
1402
Johnson Financial Group Inc (Wisconsin)
Wisconsin
$239K -$69.1K -510 -24%
OWA
1403
One Wealth Advisors
California
$239K +$218K +1,610 New
AWM
1404
Austin Wealth Management
Texas
$239K +$200K +1,475 New
BFG
1405
Berger Financial Group
Minnesota
$239K +$218K +1,608 New
T
1406
Tidemark
California
$238K – – –
JFGLC
1407
Johnson Financial Group LLC (Colorado)
Colorado
$238K +$217K +1,602 New
KAS
1408
KPP Advisory Services
Kentucky
$238K -$56.8K -419 -21%
CIC
1409
Crawford Investment Counsel
Georgia
$238K +$217K +1,600 New
PWM
1410
Palumbo Wealth Management
New York
$238K +$217K +1,600 New
EFG
1411
Embree Financial Group
Illinois
$237K -$110K -809 -34%
DP
1412
Dearborn Partners
Illinois
$237K +$217K +1,598 New
AIM
1413
Aspen Investment Management
Michigan
$237K +$216K +1,595 New
CC
1414
Citrine Capital
California
$237K +$216K +1,592 New
AIM
1415
Acropolis Investment Management
Missouri
$236K +$278K +2,050 New
CFS
1416
Commonwealth Financial Services
West Virginia
$236K +$215K +1,586 New
ECA
1417
Elevate Capital Advisors
Colorado
$235K +$215K +1,584 New
RWM
1418
Rockwood Wealth Management
Pennsylvania
$234K +$213K +1,573 New
AAM
1419
Alphadyne Asset Management
New York
$233K +$213K +1,569 New
BCV
1420
Banque Cantonale Vaudoise
Switzerland
$233K +$1.9K +14 +0.9%
VAM
1421
Virtue Asset Management
Illinois
$232K +$212K +1,563 New
HP
1422
Hilltop Partners
Indiana
$232K +$212K +1,561 New
HP
1423
Haven Private
Florida
$232K +$211K +1,559 New
HW
1424
Hancock Whitney
Mississippi
$231K +$211K +1,555 New
FHWM
1425
Fox Hill Wealth Management
Massachusetts
$230K +$210K +1,548 New
55 56
57
58 59

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.