Toast
TOST
751 hedge funds and large institutions have $19.6B invested in Toast in 2025 Q2 according to their latest regulatory filings, with 153 funds opening new positions, 322 increasing their positions, 181 reducing their positions, and 53 closing their positions.
189% more first-time investments, than exits
New positions opened: 153 | Existing positions closed: 53
78% more repeat investments, than reductions
Existing positions increased: 322 | Existing positions reduced: 181
46% more capital inflows, than outflows
Capital inflows: $2.51B | Capital outflows: $1.72B
31% more funds holding in top 10
Funds holding in top 10: 13 → 17 (+4)
15% more call options, than puts
Call options by funds: $641M | Put options by funds: $557M
14% more funds holding
Funds holding: 659 → 751 (+92)
3.06% more ownership
Funds ownership: 85.99% → 89.05% (+3.1%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jennison Associates
New York
|
+$260M |
| 2 |
Morgan Stanley
New York
|
+$190M |
| 3 |
Marshall Wace
London,
United Kingdom
|
+$161M |
| 4 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
+$144M |
| 5 |
D.E. Shaw & Co
New York
|
+$70.7M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$447M |
| 2 |
Citadel Advisors
Miami,
Florida
|
-$116M |
| 3 |
HMI Capital Management
San Francisco,
California
|
-$93.7M |
| 4 |
ValueAct Holdings
San Francisco,
California
|
-$86.1M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
-$66.6M |
TOST Hedge Fund Activity: Q2 2025 in Review
751 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Toast (TOST) for Q2 2025, worth a combined $19.6B — up 39% from $14.1B a quarter earlier.
Buyers outnumbered sellers: 153 funds opened new TOST positions and 53 closed out — a net gain of 100 holders — while 322 added to existing stakes and 181 trimmed.
The largest buyer was Jennison Associates, adding an estimated $260M. The largest seller was T. Rowe Price Associates, cutting an estimated $447M.
- 751 institutional investors held Toast (TOST) as of Q2 2025, up from 659 in Q1 2025.
- Funds reported $19.6B of Toast stock for Q2 2025, up 39% quarter-over-quarter.
- 153 funds opened new Toast positions in Q2 2025 and 53 closed out, a net change of +100 holders.
- The largest Toast buyer in Q2 2025 was Jennison Associates, an estimated $260M added.
- The largest Toast seller in Q2 2025 was T. Rowe Price Associates, an estimated $447M sold.
Based on aggregated 13F filings for Q2 2025.