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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
MAS
1426
Meeder Advisory Services
Ohio
$229K +$209K +1,543 New
ACA
1427
Affinity Capital Advisors
California
$229K +$205K +1,515 New
AWM
1428
Accel Wealth Management
Iowa
$228K +$208K +1,534 New
LA
1429
Legacy Advisors
Pennsylvania
$228K +$208K +1,533 New
GSEP
1430
Golden State Equity Partners
California
$228K +$208K +1,531 New
FOA
1431
Five Oceans Advisors
California
$226K +$206K +1,519 New
DCM
1432
DGS Capital Management
New Jersey
$225K +$206K +1,516 New
FCT
1433
First Community Trust
Iowa
$225K – – –
CAM
1434
Carret Asset Management
New York
$225K +$205K +1,515 New
OFS
1435
OneAscent Financial Services
Alabama
$224K -$138K -1,017 -40%
WTA
1436
Washington Trust Advisors
Massachusetts
$224K +$32.1K +237 +19%
S
1437
Sunpointe
Missouri
$223K +$204K +1,503 New
4WM
1438
44 Wealth Management
Oregon
$223K +$203K +1,501 New
MFG
1439
Mosaic Financial Group
Illinois
$223K +$203K +1,499 New
Cohen & Steers
1440
Cohen & Steers
New York
$223K +$203K +1,500 New
VCM
1441
Vision Capital Management
Oregon
$223K -$67.8K -500 -25%
STB
1442
S&T Bank
Pennsylvania
$223K – – –
AMBIA
1443
Allen Mooney & Barnes Investment Advisors
Georgia
$223K +$203K +1,500 New
CD
1444
Chapin Davis
Maryland
$223K +$203K +1,500 New
CCG
1445
Chatham Capital Group
Georgia
$223K +$203K +1,500 New
TIAM2
1446
Tru Independence Asset Management 2
Oregon
$223K +$203K +1,500 New
UAS
1447
United Asset Strategies
New York
$223K +$203K +1,500 New
VCAM
1448
Van Cleef Asset Management
Ohio
$223K +$203K +1,500 New
MWM
1449
MGB Wealth Management
Texas
$222K +$202K +1,491 New
RCAG
1450
Rehmann Capital Advisory Group
Michigan
$221K +$202K +1,487 New
56 57
58
59 60

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.