Toast
TOST
804 hedge funds and large institutions have $15.9B invested in Toast in 2025 Q4 according to their latest regulatory filings, with 152 funds opening new positions, 293 increasing their positions, 249 reducing their positions, and 76 closing their positions.
100% more first-time investments, than exits
New positions opened: 152 | Existing positions closed: 76
78% more funds holding in top 10
Funds holding in top 10: 9 → 16 (+7)
18% more repeat investments, than reductions
Existing positions increased: 293 | Existing positions reduced: 249
17% more call options, than puts
Call options by funds: $615M | Put options by funds: $528M
9% more funds holding
Funds holding: 740 → 804 (+64)
0.76% more ownership
Funds ownership: 86.13% → 86.89% (+0.76%)
1% less capital invested
Capital invested by funds: $16B → $15.9B (-$152M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
VH
ValueAct Holdings
San Francisco,
California
|
+$166M |
| 2 |
1832 Asset Management
Toronto,
Ontario, Canada
|
+$147M |
| 3 |
Balyasny Asset Management
Chicago,
Illinois
|
+$145M |
| 4 |
XL
XN LP
New York
|
+$109M |
| 5 |
Fidelity Investments
Boston,
Massachusetts
|
+$88.5M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DCP
Durable Capital Partners
Bethesda,
Maryland
|
-$146M |
| 2 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
-$127M |
| 3 |
Lord, Abbett & Co
Jersey City,
New Jersey
|
-$113M |
| 4 |
Capital International Investors
Los Angeles,
California
|
-$109M |
| 5 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
-$103M |
TOST Hedge Fund Activity: Q4 2025 in Review
804 of the 8,284 institutional investors tracked by Wall St. Rank reported a position in Toast (TOST) for Q4 2025, worth a combined $15.9B — down 0.95% from $16B a quarter earlier.
Buyers outnumbered sellers: 152 funds opened new TOST positions and 76 closed out — a net gain of 76 holders — while 293 added to existing stakes and 249 trimmed.
The largest buyer was ValueAct Holdings, adding an estimated $166M. The largest seller was Durable Capital Partners, cutting an estimated $146M.
- 804 institutional investors held Toast (TOST) as of Q4 2025, up from 740 in Q3 2025.
- Funds reported $15.9B of Toast stock for Q4 2025, down 0.95% quarter-over-quarter.
- 152 funds opened new Toast positions in Q4 2025 and 76 closed out, a net change of +76 holders.
- The largest Toast buyer in Q4 2025 was ValueAct Holdings, an estimated $166M added.
- The largest Toast seller in Q4 2025 was Durable Capital Partners, an estimated $146M sold.
Based on aggregated 13F filings for Q4 2025.