Toast
TOST
750 hedge funds and large institutions have $19.6B invested in Toast in 2025 Q2 according to their latest regulatory filings, with 152 funds opening new positions, 322 increasing their positions, 181 reducing their positions, and 53 closing their positions.
187% more first-time investments, than exits
New positions opened: 152 | Existing positions closed: 53
78% more repeat investments, than reductions
Existing positions increased: 322 | Existing positions reduced: 181
39% more capital invested
Capital invested by funds: $14.1B → $19.6B (+$5.53B)
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 → 750 (+91)
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 |
HCM
HMI Capital Management
San Francisco,
California
|
-$93.7M |
| 4 |
VH
ValueAct Holdings
San Francisco,
California
|
-$86.1M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
-$66.6M |
TOST Hedge Fund Activity: Q2 2025 in Review
750 of the 7,613 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: 152 funds opened new TOST positions and 53 closed out — a net gain of 99 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.
- 750 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.
- 152 funds opened new Toast positions in Q2 2025 and 53 closed out, a net change of +99 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.