Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Shopify Inc (SHOP)

2K + Investors. Track Smart Money conviction in SHOP. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -136
Streak
1Q ▼
Buyers last Q
48%

Smart Money Signals — SHOP

Based on 1729 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their SHOP positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 93% of 3.0Y peak

93% of all-time peak
1,729 funds currently hold this stock — 93% of the 3.0-year high of 1,865 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶

Steady growth — +20% more funds vs a year ago

fund count last 6Q
+283 new funds entered over the past year (+20% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠

More sellers than buyers — 48% buying

880 buying967 selling
Last quarter: 967 funds reduced or exited vs 880 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️

Fewer new buyers each quarter (-119 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 246 → 276 → 312 → 193. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

57% of holders stayed for 2+ years

■ 57% conviction (2yr+) ■ 24% medium ■ 19% new
990 out of 1,729 hedge funds have held SHOP for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares -5%, value -30%

Value
-30%
Shares
-5%
Last quarter: funds added -5% more shares while total portfolio value only changed -30%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~193 new funds/quarter

175 → 246 → 276 → 312 → 193 new funds/Q
New funds entering each quarter: 246 → 276 → 312 → 193. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 63% veterans vs 24% newcomers

■ 63% veterans ■ 13% 1-2yr ■ 24% new
Entry-cohort mix of 1,816 holders: 1,140 (63%) are 2+ year veterans, 237 entered 1–2 years ago, and 439 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 59% AUM from top-100 funds

59% from top-100 AUM funds
67 of 1716 holders are among the 100 largest funds by AUM, controlling 59% of total institutional value in SHOP. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.5
out of 10
Low Exit Risk
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — SHOP

In 2026 Q1, 880 hedge funds were net buyers of SHOP (193 opened a new position, 687 added to an existing one), while 967 reduced or exited (638 trimmed, 329 sold completely) — a 48% buyer ratio, indicating roughly balanced activity. 59% of total institutional value in SHOP is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -136 funds (more exits than new entries). Total institutional holders: 1729.

Hedge Fund Ownership: SHOP

How many hedge funds hold SHOP — quarterly history vs. share price
Quarterly hedge fund ownership of SHOP vs. share price

Market Analysis: SHOP

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: SHOP

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Shopify Inc (SHOP) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much SHOP has moved relative to its sector benchmark (XLK) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 78d ago
SHOP
-4.5%
XLK
+40.3%

SHOP outperformed XLK by -44.8% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 33d ago
SHOP
+12.9%
XLK
+5.8%

Since the filing became public, SHOP outperformed XLK by +7.1% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Strong Institutional Conviction

Multiple high-quality funds hold meaningful positions with strong conviction.

89 top-rated funds 34 high-conviction
Consensus
8.5
/ 10
breadth
×
Elite
6.0
/ 10
conviction
Hedge Fund Positioning: SHOP
2K + Investors

Track Smart Money conviction in SHOP. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 1716 1865 -7.99%
13F Shares 840M 885M -5.0%
Total Value $96.41B $137.86B -30.07%
New Positions 190 312 -122
Increased Positions 660 638 +22
Closed Positions 339 152 +187
Reduced Positions 606 653 -47
Total Calls 48 46 4.35%
Total Puts 49 49 -
PUT/CALL Ratio 1.02 1.07 Neutral

Statistics: SHOP

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

2K + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in SHOP. Verified SEC 13F-HR filings.

QUARTER:
Top 25 SHOP holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Thrive Capital Management, LLC 30.92% 895,817 $106.3M
2 Ashe Capital Management, LP 24.51% 1,647,738 $195.5M
3 Barton Investment Management 23.85% 1,602,959 $190.1M
4 Strategy Capital LLC 16.00% 1,649,987 $195.7M
5 Arthedge Capital Management, LLC 15.06% 146,600 $17.4M
6 Marcho Partners LLP 13.14% 137,158 $16.3M
7 Ampersand Capital Group, L.P. 12.97% 199,763 $23.7M
8 Square Peg Capital Pty Ltd 12.58% 79,771 $9.5M
9 Privium Fund Management B.V. 10.05% 407,000 $48.3M
10 Meadowbrook Wealth Management, LLC 8.65% 55,043 $6.5M
11 Islander Capital Partners, L.P. 7.55% 196,000 $23.2M
12 Gavilan Investment Partners LLC 7.33% 230,000 $27.3M
13 Steadview Capital Management LLC 6.73% 128,559 $15.2M
14 ICONIQ Capital, LLC 6.52% 2,456,052 $291.3M
15 Mufg Securities (canada), LTD. 6.19% 1,818,588 $215.4M
16 Stony Point Capital LLC 6.02% 631,389 $74.9M
17 Amova Asset Management Americas, Inc. 5.80% 3,458,265 $410.2M
18 Polen Capital Management LLC 5.17% 6,306,740 $748.1M
19 Newlands Management Operations LLC 4.85% 6,325,050 $750.3M
20 Synergy Financial Group, LTD 4.70% 52,756 $6.3M
21 Edgewood Management LLC 4.64% 6,066,124 $719.6M
22 Zevenbergen Capital Investments LLC 4.47% 1,309,176 $155.3M
23 ThornTree Capital Partners LP 4.46% 211,795 $25.1M
24 Sands Capital Management, LLC 4.16% 8,935,666 $1.06B
25 Nepsis Inc. 4.07% 102,338 $12.1M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Shopify Inc (SHOP)

What does the Smart Money Trend signal show for SHOP?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their SHOP positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for SHOP?

More sellers than buyers — 48% buying: Last quarter: 967 funds reduced or exited vs 880 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for SHOP holders?

Elite ownership — 59% AUM from top-100 funds: 67 of 1716 holders are among the 100 largest funds by AUM, controlling 59% of total institutional value in SHOP. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held SHOP?

57% of holders stayed for 2+ years: 990 out of 1,729 hedge funds have held SHOP for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Shopify Inc (SHOP) following the 2026 Q1 hedge fund 13F filings?

As of today, SHOP has moved +12.9% since the 2026 Q1 13F filing date (May 15, 2026), compared to +5.8% for the XLK sector ETF — an outperformance of +7.1%. Since the quarter end (March 31, 2026), SHOP has gained -4.5% vs +40.3% for XLK. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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