Shopify Inc.: which funds bought and sold

Institutions that bought and sold Shopify 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, 761 institutions that filed 13F reports for both quarters added to or opened positions in Shopify, and 810 cut or closed them. Together they sold a net 13.4M shares, −1.6% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 8.1M shares (−2.3%); index fund managers were net sellers of 2.0M shares (−2.7%). 133 opened a new position and 153 sold out entirely.

Bought, Q2 2026 761 institutions, 133 of them new holders Sold, Q2 2026 810 institutions, 153 of them sold out

Net change, all compared −13.4M shares (−1.6%)

Net change, active managers −8.1M shares (−2.3%), 51 bought, 55 sold

Buyers versus sellers

institutions compared, 1,830

761 bought 259 810 sold

Active managers and hedge funds 51 bought · 55 sold · −8.1M

Index fund managers 7 bought · 4 sold · −2.0M

Other institutions 703 bought · 751 sold · −3.4M

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
BAMCO Inc Active manager	+6.4M +136.4%	11.2M	$1.3B
Capital International Investors Active manager	+4.8M +9.7%	54.9M	$6.3B
Wellington Management Group LLP Active manager	+2.8M +30.7%	11.9M	$1.4B
UBS Am, A Distinct Business Unit Of UBS Asset Management Americas LLC	+2.5M +1646.8%	2.6M	$301M
Royal Bank Of Canada	+1.9M +8.7%	23.5M	$2.7B
Citadel Advisors LLC Hedge fund	+1.6M +391.1%	2.1M	$236M
Susquehanna International Group, LLP	+1.6M +69.2%	3.8M	$435M
Geode Capital Management, LLC Index funds	+1.4M +11.1%	14.3M	$1.7B
Durable Capital Partners LP Hedge fund	+1.4M +140.3%	2.3M	$267M
Toronto Dominion Bank	+1.4M +44.3%	4.4M	$506M
FMR LLC Active manager	+1.3M +2.9%	47.2M	$5.4B
Victory Capital Management Inc Active manager	+1.2M +46.2%	3.7M	$425M
Public Sector Pension Investment Board	+1.2M +189.9%	1.8M	$201M
Fil Ltd Active manager	+1.0M +5.8%	19.3M	$2.2B
Goldman Sachs Group Inc	+1.0M +11.0%	10.2M	$1.2B
Exoduspoint Capital Management, LP Hedge fund	+977K New position	977K	$112M
D. E. Shaw & Co., Inc. Hedge fund	+940K +64.6%	2.4M	$273M
Bank Of Nova Scotia	+834K +26.1%	4.0M	$461M
D1 Capital Partners L.P. Hedge fund	+831K New position	831K	$94.9M
Morgan Stanley	+812K +3.3%	25.5M	$2.9B

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
BAMCO Inc Active manager	+6.4M +136.4%	11.2M	$1.3B
Capital International Investors Active manager	+4.8M +9.7%	54.9M	$6.3B
Wellington Management Group LLP Active manager	+2.8M +30.7%	11.9M	$1.4B
Citadel Advisors LLC Hedge fund	+1.6M +391.1%	2.1M	$236M
Durable Capital Partners LP Hedge fund	+1.4M +140.3%	2.3M	$267M
FMR LLC Active manager	+1.3M +2.9%	47.2M	$5.4B
Victory Capital Management Inc Active manager	+1.2M +46.2%	3.7M	$425M
Fil Ltd Active manager	+1.0M +5.8%	19.3M	$2.2B
Exoduspoint Capital Management, LP Hedge fund	+977K New position	977K	$112M
D. E. Shaw & Co., Inc. Hedge fund	+940K +64.6%	2.4M	$273M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Jennison Associates LLC Active manager	−9.5M −58.0%	6.8M	$782M
WCM Investment Management, LLC Active manager	−6.7M −99.9%	7,049	$805,066
Capital Research Global Investors Active manager	−4.2M −35.6%	7.5M	$855M
Blackrock, Inc. Index funds	−3.1M −34.5%	5.8M	$665M
National Bank Of Canada	−2.8M −21.8%	10.0M	$1.1B
Nuveen, LLC	−2.4M −47.3%	2.7M	$306M
Jpmorgan Chase & Co	−2.2M −12.8%	15.2M	$1.7B
Iconiq Capital, LLC	−2.2M −89.7%	253K	$28.9M
Edgewood Management LLC Active manager	−2.0M −32.3%	4.1M	$469M
Polen Capital Management LLC Active manager	−1.7M −27.4%	4.6M	$523M
Sands Capital Management, LLC Active manager	−1.7M −19.0%	7.2M	$827M
Rathbones Group PLC	−1.5M −49.9%	1.5M	$173M
Polar Capital Holdings PLC Active manager	−1.4M Sold out	0	—
Franklin Resources Inc Active manager	−1.4M −16.7%	6.9M	$787M
Ameriprise Financial Inc	−1.3M −53.7%	1.1M	$132M
Jane Street Group, LLC	−1.2M −33.6%	2.3M	$265M
Thrivent Financial For Lutherans	−1.2M −92.3%	97K	$11.1M
1832 Asset Management L.P.	−1.1M −10.9%	9.1M	$1B
Winslow Capital Management, LLC Active manager	−1.1M −36.5%	1.9M	$219M
UBS Group AG	−1.0M −21.7%	3.7M	$423M

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Jennison Associates LLC Active manager	−9.5M −58.0%	6.8M	$782M
WCM Investment Management, LLC Active manager	−6.7M −99.9%	7,049	$805,066
Capital Research Global Investors Active manager	−4.2M −35.6%	7.5M	$855M
Edgewood Management LLC Active manager	−2.0M −32.3%	4.1M	$469M
Polen Capital Management LLC Active manager	−1.7M −27.4%	4.6M	$523M
Sands Capital Management, LLC Active manager	−1.7M −19.0%	7.2M	$827M
Polar Capital Holdings PLC Active manager	−1.4M Sold out	0	—
Franklin Resources Inc Active manager	−1.4M −16.7%	6.9M	$787M
Winslow Capital Management, LLC Active manager	−1.1M −36.5%	1.9M	$219M
Alliancebernstein L.P. Active manager	−999K −11.3%	7.8M	$927M

New positions

largest by value

Institution	Shares	Value June 30, 2026
Exoduspoint Capital Management, LPHedge fund	977K	$112M
D1 Capital Partners L.P.Hedge fund	831K	$94.9M
Blue Sparrow, LLC	620K	$70.8M
Balyasny Asset Management L.P.Hedge fund	609K	$69.5M
Adage Capital Partners Gp, L.L.C.Hedge fund	200K	$22.8M
Benchstone Capital Management LP	198K	$22.6M
Ardmore Road Asset Management LP	163K	$18.6M
Group One Trading LLC	113K	$12.8M
Schonfeld Strategic Advisors LLCHedge fund	93K	$10.6M
Aquatic Capital Management LLC	90K	$10.2M

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Polar Capital Holdings PLCActive manager	1.4M	$171M
Susquehanna Advisors Group, Inc.	879K	$104M
Surgocap Partners LPHedge fund	516K	$61.2M
Steadfast Capital Management LPHedge fund	474K	$56.2M
Zurich Insurance Group Ltd	368K	$43.7M
Wedbush Fund Advisers, LLC	234K	$27.7M
Brown Capital Management LLC	202K	$23.9M
Ilex Capital Partners (UK) LLP	149K	$17.7M
Pbu - The Pension Fund Of Early Childhood & Youth Educators	146K	$17.3M
Rheos Capital Works Inc.	138K	$16.4M

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 1,696
Ten largest holders: 39.4%
Index fund managers: 8.6%
Active managers and hedge funds: 41.5%

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	51	55	9	12	−8.1M	−2.3%
Index fund managers	7	4	0	0	−2.0M	−2.7%
Other institutions	703	751	124	141	−3.4M	−0.8%

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 Shopify.

Only managers that filed a holdings report for both quarters are compared (1,830 here). 48 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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