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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
CMA
1651
Cedar Mountain Advisors
Oregon
$11.9K -$2.71K -20 -20%
CMBA
1652
C.M. Bidwell & Associates
Hawaii
$11.9K – – –
CTB
1653
Country Trust Bank
Illinois
$11.6K – – –
C
1654
Covestor
United Kingdom
$11K +$271 +2 +3%
1IA
1655
1620 Investment Advisors
Massachusetts
$10.4K -$271 -2 -3%
CFFP
1656
Center for Financial Planning
Michigan
$10.4K – – –
CWA
1657
Carolina Wealth Advisors
South Carolina
$10.3K – – –
RF
1658
Roxbury Financial
New Jersey
$10.3K – – –
KG
1659
Kilter Group
New York
$10.1K +$2.98K +22 +48%
VNA
1660
Valley National Advisers
Pennsylvania
$10K +$3.12K +23 +46%
BFS
1661
Bare Financial Services
Pennsylvania
$9.96K +$2.31K +17 +34%
CWM
1662
Cranbrook Wealth Management
Michigan
$9.81K – – –
MAFA
1663
MJT & Associates Financial Advisory
Minnesota
$9.36K – – –
TWD
1664
True Wealth Design
Ohio
$9.21K +$6.24K +46 +288%
BMC
1665
Bear Mountain Capital
Washington
$8.82K +$542 +4 +8%
MTIC
1666
Missouri Trust & Investment Company
Missouri
$7.43K – – –
TVWM
1667
Tower View Wealth Management
Wisconsin
$7.43K – – –
EPW
1668
Evergreen Private Wealth
Colorado
$7.43K +$6.78K +50 New
NMG
1669
New Millennium Group
Utah
$7.43K +$6.78K +50 New
PCTC
1670
Perkins Coie Trust Company
Washington
$7.43K +$6.78K +50 New
WB
1671
Webster Bank
Connecticut
$7.28K – – –
FS
1672
Financially Speaking
Colorado
$6.54K – – –
TH
1673
TCTC Holdings
Texas
$6.24K – – –
VWM
1674
Vermillion Wealth Management
Minnesota
$6.24K – – –
AP
1675
Atwood & Palmer
Missouri
$5.95K – – –
65 66
67
68 69

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.