Dropbox, Inc.: which funds bought and sold

Institutions that bought and sold Dropbox shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 214 institutions that filed 13F reports for both quarters added to or opened positions in Dropbox, and 225 cut or closed them. Together they sold a net 4.2M shares, −2.3% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 3.9M shares (−6.2%); index fund managers were net sellers of 5.4M shares (−9.4%). 75 opened a new position and 49 sold out entirely.

Bought, Q2 2026 214 institutions, 75 of them new holders Sold, Q2 2026 225 institutions, 49 of them sold out

Net change, all compared −4.2M shares (−2.3%)

Net change, active managers −3.9M shares (−6.2%), 24 bought, 32 sold

Buyers versus sellers

institutions compared, 490

214 bought 51 225 sold

Active managers and hedge funds 24 bought · 32 sold · −3.9M

Index fund managers 2 bought · 8 sold · −5.4M

Other institutions 188 bought · 185 sold · +5.1M

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Royal Bank Of Canada	+3.6M +785.2%	4.1M	$112M
Goldman Sachs Group Inc	+1.5M +72.3%	3.7M	$101M
Gotham Asset Management, LLC Hedge fund	+1.1M +90.1%	2.2M	$61.5M
Mackenzie Financial Corp	+1.0M +206.4%	1.6M	$42.7M
Jupiter Asset Management Ltd Active manager	+735K +342.4%	950K	$26.1M
Jane Street Group, LLC	+688K +141.6%	1.2M	$32.3M
Barclays PLC	+642K +38.1%	2.3M	$63.9M
Wedge Capital Management L L P Active manager	+627K +26.4%	3.0M	$82.6M
Quantinno Capital Management LP	+585K +39.1%	2.1M	$57.1M
Jpmorgan Chase & Co	+447K +31.8%	1.9M	$51M
Deutsche Bank Ag\	+385K +96.3%	784K	$21.5M
HRT Financial LP	+374K New position	374K	$10.3M
Acadian Asset Management LLC Active manager	+372K +6.5%	6.1M	$167M
Danske Bank A/S	+263K +131650.5%	264K	$7.2M
Jain Global LLC Hedge fund	+232K New position	232K	$6.4M
Corient Private Wealth LP	+191K +358.4%	244K	$6.7M
Panagora Asset Management Inc Active manager	+176K New position	176K	$4.8M
Edgestream Partners, L.P. Hedge fund	+164K +148.6%	275K	$7.5M
Winton Group Ltd Hedge fund	+161K New position	161K	$4.4M
Pfa Pension, Forsikringsaktieselskab	+156K New position	156K	$4.3M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Gotham Asset Management, LLC Hedge fund	+1.1M +90.1%	2.2M	$61.5M
Jupiter Asset Management Ltd Active manager	+735K +342.4%	950K	$26.1M
Wedge Capital Management L L P Active manager	+627K +26.4%	3.0M	$82.6M
Acadian Asset Management LLC Active manager	+372K +6.5%	6.1M	$167M
Jain Global LLC Hedge fund	+232K New position	232K	$6.4M
Panagora Asset Management Inc Active manager	+176K New position	176K	$4.8M
Edgestream Partners, L.P. Hedge fund	+164K +148.6%	275K	$7.5M
Winton Group Ltd Hedge fund	+161K New position	161K	$4.4M
Algert Global LLC Hedge fund	+149K New position	149K	$4.1M
FMR LLC Active manager	+147K +17.4%	990K	$27.2M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Blackrock, Inc. Index funds	−2.4M −11.5%	18.5M	$507M
Vanguard Portfolio Management LLC Index funds	−1.6M −13.5%	10.6M	$291M
Seizert Capital Partners, LLC	−1.6M Sold out	0	—
Millennium Management LLC Hedge fund	−1.5M −59.8%	1.0M	$27.6M
Morgan Stanley	−734K −11.7%	5.5M	$152M
Man Group PLC Hedge fund	−703K −60.3%	463K	$12.7M
Arrowstreet Capital, Limited Partnership Hedge fund	−694K −8.1%	7.8M	$215M
Victory Capital Management Inc Active manager	−665K −55.0%	543K	$14.9M
Franklin Resources Inc Active manager	−559K −29.6%	1.3M	$36.5M
KBC Group NV	−532K −56.3%	413K	$11.4M
Renaissance Technologies LLC Hedge fund	−507K −6.6%	7.2M	$198M
Vanguard Capital Management LLC Index funds	−460K −6.6%	6.5M	$180M
Sei Investments Co	−459K −38.5%	732K	$20.1M
Jacobs Levy Equity Management, Inc Active manager	−447K −9.3%	4.4M	$120M
State Street Corp Index funds	−424K −7.4%	5.3M	$147M
Squarepoint Ops LLC Hedge fund	−399K −63.8%	227K	$6.2M
Two Sigma Investments, LP Hedge fund	−392K −9.0%	4.0M	$109M
Citadel Advisors LLC Hedge fund	−343K −80.2%	85K	$2.3M
Marshall Wace, LLP Hedge fund	−334K −71.3%	134K	$3.7M
Trexquant Investment LP Hedge fund	−273K Sold out	0	—

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Millennium Management LLC Hedge fund	−1.5M −59.8%	1.0M	$27.6M
Man Group PLC Hedge fund	−703K −60.3%	463K	$12.7M
Arrowstreet Capital, Limited Partnership Hedge fund	−694K −8.1%	7.8M	$215M
Victory Capital Management Inc Active manager	−665K −55.0%	543K	$14.9M
Franklin Resources Inc Active manager	−559K −29.6%	1.3M	$36.5M
Renaissance Technologies LLC Hedge fund	−507K −6.6%	7.2M	$198M
Jacobs Levy Equity Management, Inc Active manager	−447K −9.3%	4.4M	$120M
Squarepoint Ops LLC Hedge fund	−399K −63.8%	227K	$6.2M
Two Sigma Investments, LP Hedge fund	−392K −9.0%	4.0M	$109M
Citadel Advisors LLC Hedge fund	−343K −80.2%	85K	$2.3M

New positions

largest by value

Institution	Shares	Value June 30, 2026
HRT Financial LP	374K	$10.3M
Jain Global LLCHedge fund	232K	$6.4M
Panagora Asset Management IncActive manager	176K	$4.8M
Winton Group LtdHedge fund	161K	$4.4M
Pfa Pension, Forsikringsaktieselskab	156K	$4.3M
Algert Global LLCHedge fund	149K	$4.1M
Axq Capital, LP	147K	$4M
Aquatic Capital Management LLC	142K	$3.9M
Bridgewater Associates, LPHedge fund	91K	$2.5M
Picton Mahoney Asset Management	85K	$2.3M

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Seizert Capital Partners, LLC	1.6M	$35.4M
Trexquant Investment LPHedge fund	273K	$6.2M
Landscape Capital Management, L.L.C.	221K	$5M
Twinbeech Capital LP	158K	$3.6M
AGF Management Ltd	144K	$3.3M
Qsemble Capital Management, LP	107K	$2.4M
Blueshift Asset Management, LLC	102K	$2.3M
Verition Fund Management LLCHedge fund	77K	$1.7M
Occudo Quantitative Strategies LP	63K	$1.5M
Inceptionr LLC	53K	$1.2M

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 450
Ten largest holders: 46.2%
Index fund managers: 28.4%
Active managers and hedge funds: 32.8%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	24	32	11	6	−3.9M	−6.2%
Index fund managers	2	8	0	0	−5.4M	−9.4%
Other institutions	188	185	64	43	+5.1M	+7.9%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Dropbox.

Only managers that filed a holdings report for both quarters are compared (490 here). 16 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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