SHOP SHOPIFY INC - CLASS A

2026Q2 · CUSIP 82509L107 · Fintech & Payments · Sector: Technology

Normal

Fund flows are within the usual range

Funds that own it

1,664

Institutions that reported holding it to the SEC

Net decrease in holders

Last quarter 1,721 → now 1,664

How unusual is that

Bottom 20%

Stronger than only 2.0% of US stocks

What the filings say, in one paragraph

1,664 funds held SHOP at the end of 2026Q2, down 57 from the quarter before. Fund flows are within the usual range — nothing unusual. On the business itself, revenue over the last 12 months was $13.3B(YoY +32.5%), the P/E is 102.6x, return on equity is 15.2%. SHOP has had 31 buying rushes in its history, and the price moved +9.7% on average over the six months after (that is the raw price move, not how much it beat the market by). It sits in the Technology sector, tagged Fintech & Payments.

How many funds owned it, quarter by quarter

Bars = net change in institutional holders, positive (green) or negative (red). Line = total institutional holders.

What happened after each past buying rush 31 times in its history

Quarter of the rush	How unusual then	Price, next 3 months	Price, next 6 months
2025Q4	Top 5%	-5.4%	-15.2%
2025Q3	Top 1% in the market	+18.8%	-11.5%
2025Q2	Top 5%	+5.7%	+2.0%
2024Q4	Top 1% in the market	-21.6%	-13.7%
2024Q3	Top 5%	+7.9%	+9.1%
2023Q4	Top 5%	-8.0%	-28.0%
2023Q2	Top 1% in the market	-2.4%	+18.4%
2023Q1	Top 5%	+6.1%	-12.4%
2022Q4	Top 5%	+6.0%	+35.5%
2021Q4	Top 5%	-2.6%	-51.7%
2021Q3	Top 20%	-25.4%	-59.7%
2021Q2	Top 5%	-11.7%	+12.5%
2021Q1	Top 20%	+31.4%	+27.2%
2020Q4	Top 5%	-16.5%	-15.5%
2020Q3	Top 5%	+20.1%	+48.3%
2020Q2	Top 1% in the market	+1.0%	-9.3%
2020Q1	Top 1% in the market	+37.8%	+37.3%
2019Q4	Top 5%	-21.5%	+44.4%
2019Q3	Top 5%	+25.2%	+65.8%
2019Q2	Top 5%	-12.7%	-12.9%
2019Q1	Top 10%	+14.1%	+31.2%
2018Q4	Top 20%	+13.1%	+53.5%
2018Q3	Top 5%	-8.6%	+18.2%
2018Q2	Top 5%	+17.4%	+2.6%
2018Q1	Top 5%	+2.3%	-4.8%
2017Q3	Top 5%	+3.7%	+37.4%
2017Q2	Top 5%	+23.1%	+4.6%
2017Q1	Top 5%	-3.3%	+5.3%
2016Q3	Top 1% in the market	+9.4%	+52.4%
2016Q2	Top 5%	+11.1%	+3.0%
2015Q4	Top 10%	+39.6%	+27.9%

Show all 31 events

These are the raw price moves, not how much it beat the market by. Compare them against the market over the same months — in a strong bull market almost everything is up.

Show all the numbers (large funds, value held, options…) ▾

Of them, large funds

324

Change in large funds

+22

Total value they hold

$94.4B

Funds buying for the first time

154

Funds that sold out entirely

211

Price change that quarter

+49.3%

Funds holding puts (bearish)

Funds holding calls (bullish)

These are for people who want to dig. Skip them if they do not mean anything to you — the three numbers above are enough.

8,697 institutions have filed for this quarter. 13F permits late filing and a small number arrive in the weeks after the deadline, so the holder counts and changes below may tick up.

Fundamentals

PE (TTM)

102.6

EPS (TTM)

$1.49

EPS YoY

-16.8%

Revenue (TTM)

$13.3B

Revenue YoY

+32.5%

Net margin

14.5%

ROE

15.2%

Debt ratio

12.3%

FCF (TTM)

$2.4B

Dividend (TTM)

No dividend

Quarterly Revenue & EPS

Quarterly figures, revenue up to 10 years back; EPS split-adjusted, early quarters hidden when not calibrable

P/E (TTM) over time

P/E = close around day 47 after quarter-end ÷ TTM EPS then; this is a consistent valuation date, not the company’s actual filing date; loss quarters hidden

Quarterly free cash flow

Latest quarter $476M (2026-03-31)

FCF = operating cash flow − capex, computed from SEC XBRL; banks/insurers have no standard cash-flow structure and are hidden

As of 2026-06-30 · SEC filings (XBRL)

Email me the next update

2026 Q3 holdings are due 2026-11-16. We will email you when the refreshed lists are live.