Dropbox

DBX • NASDAQ

Dropbox is a software - infrastructure company in the technology sector on NASDAQ, led by Andrew W. Houston, with a market cap of $7.1B. As of Q3 2025, 73% of shares are held by 452 institutional investors, with VANGUARD GROUP INC as the largest holder at 8.94%.

CEOAndrew W. Houston

Market Cap$7.1B

Software - Infrastructure

Technology

Employees2.7K

Websitedropbox.com

Country

United States of America

Overview

Overview of institutional ownership in DBX as of Q3 2025 with a market cap of $8.2B

All Institutions

Institutions: 452
Value Held: $5.9B
Shares Held: 196.2M
Avg Position: $13.1M
Median Position: $764.5K

Hedge Funds

Hedge Funds: 48
Value Held: $998.1M
Shares Held: 33.0M
Avg Position: $20.8M
Median Position: $1.3M

Ownership Breakdown

Institutional (non-HF)

60.5%

$4.9B

Hedge Funds

12.24%

$998.1M

Retail & Other

27.25%

$2.2B

Based on market cap of $8.2B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in DBX as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$729.1M 0.01% of portfolio	8.94% 24.1M shares	Q1 2018 Held for 7y 8m	$6.69T
B BlackRock, Inc. Institution	-	$629.2M 0.01% of portfolio	7.72% 20.8M shares	Q1 2018 Held for 7y 8m	$5.67T
L LSV ASSET MANAGEMENT Long Only Manager	Josef Nmn Lakonishok CEO	$350.8M 0.78% of portfolio	4.30% 11.6M shares	Q2 2023 Held for 2y 5m	$45.1B
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	$283.5M 0.37% of portfolio	3.48% 9.4M shares	Q1 2019 Held for 6y 8m	$75.8B
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	Gillian Morna Therese Savage CEO	$225.4M 0.44% of portfolio	2.76% 7.5M shares	Q1 2020 Held for 5y 8m	$51.5B
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	Anthony Ryan CEO	$205.6M 0.13% of portfolio	2.52% 6.8M shares	Q4 2023 Held for 1y 11m	$158.92B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$192.2M 0.01% of portfolio	2.36% 6.4M shares	Q1 2018 Held for 7y 8m	$1.65T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$186.6M 0.01% of portfolio	2.29% 6.2M shares	Q2 2018 Held for 7y 5m	$2.88T
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	Bruce Ira Jacobs President	$153.9M 0.61% of portfolio	1.89% 5.1M shares	Q1 2019 Held for 6y 8m	$25.2B
FMR LLC Institution	-	$146.1M 0.01% of portfolio	1.79% 4.8M shares	Q1 2018 Held for 7y 8m	$1.92T

Net Capital Flow

Institutional buying and selling activity for DBX in Q3 2025

Traded: −$81.8M
Buyers: 218
Sellers: 233
Total Bought: +$476.7M
Total Sold: −$558.5M
Avg Position: $11.5M

Biggest Buyers

Institution	Net Bought	Current Position
L LSV ASSET MANAGEMENT Long Only Manager	+$96.8M +3.2M shares	$350.8M 11.6M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$30.8M +1.0M shares	$30.8M 1.0M shares
V VIRGINIA RETIREMENT SYSTEMS ET AL Institution	+$23.4M +774.1K shares	$60.2M 2.0M shares
A Allianz Asset Management AG Institution	+$20.7M +686.6K shares	$64.2M 2.1M shares
NORTHERN TRUST CORP Institution	+$16.9M +560.7K shares	$75.2M 2.5M shares
Bridgewater Associates, LP Hedge Fund•Global Macro	+$15.0M +497.4K shares	$23.7M 785.5K shares
THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager	+$14.9M +493.3K shares	$16.3M 539.5K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$12.9M +427.8K shares	$39.3M 1.3M shares
Gotham Asset Management, LLC Hedge Fund•Long/Short	+$12.8M +422.9K shares	$32.7M 1.1M shares
SCHRODER INVESTMENT MANAGEMENT GROUP RIA/Wealth	+$11.2M +366.0K shares	$14.9M 487.4K shares

Biggest Sellers

Institution	Net Sold	Current Position
AMERIPRISE FINANCIAL INC Institution	−$108.2M −3.6M shares	$94.9M 3.1M shares
B BlackRock, Inc. Institution	−$37.3M −1.2M shares	$629.2M 20.8M shares
VANGUARD GROUP INC Institution	−$34.4M −1.1M shares	$729.1M 24.1M shares
MORGAN STANLEY RIA/Wealth	−$34.1M −1.1M shares	$192.2M 6.4M shares
FMR LLC Institution	−$26.1M −863.4K shares	$146.1M 4.8M shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$21.6M −715.6K shares	$283.5M 9.4M shares
Bank of New York Mellon Corp Institution	−$19.7M −652.5K shares	$49.8M 1.6M shares
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC Fund of Funds	−$18.6M −650.7K shares	Sold Off 0 shares
BANK OF AMERICA CORP /DE/ Institution	−$15.1M −499.5K shares	$17.3M 572.4K shares
STATE STREET CORP Institution	−$12.3M −408.8K shares	$186.6M 6.2M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited DBX in Q3 2025

New Positions: 23
New Value: $6.3M
Exited Positions: 62
Exited Value: $78.2M

New Positions

Institution	Position Value
C CLARK ESTATES INC/NY Institution	$2.2M 72.0K shares
Catalytic Wealth RIA, LLC RIA/Wealth	$1.1M 36.6K shares
Voleon Capital Management LP Hedge Fund•Quant	$567.7K 18.8K shares
S SPX Equities Gestao de Recursos Ltda Institution	$507.5K 16.8K shares
C CAXTON ASSOCIATES LLP Institution	$467.8K 15.5K shares
Aristides Capital LLC Real Assets	$294.4K 9.7K shares
Sequoia Financial Advisors, LLC RIA/Wealth	$263.0K 8.7K shares
C Camden Capital, LLC RIA/Wealth	$234.8K 7.8K shares
P PEAK6 LLC Institution	$221.8K 7.3K shares
V Vise Technologies, Inc. Institution	$208.7K 6.9K shares

Exited Positions

Institution	Previous Position
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC Fund of Funds	$18.6M 650.7K shares
A AXA Institution	$9.0M 315.5K shares
PANAGORA ASSET MANAGEMENT INC Hedge Fund•Quant	$7.8M 271.6K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$6.6M 229.3K shares
C CEERA INVESTMENTS, LLC RIA/Wealth	$6.1M 213.9K shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	$3.2M 111.0K shares
H Headlands Technologies LLC Institution	$2.5M 89.0K shares
CenterBook Partners LP Hedge Fund•Market Neutral	$2.4M 82.8K shares
Centiva Capital, LP Hedge Fund•Multi-Strategy	$2.1M 74.4K shares
IVY LANE CAPITAL MANAGEMENT, LLC Hedge Fund•Value	$2.0M 70.0K shares

Options Activity

Institutions with the largest Call and Put options positions in DBX as of Q3 2025

Call Positions: 20
Call Value: $300.6M
Put Positions: 20
Put Value: $68.3M

Call Positions

Institution	Position Value
UBS Group AG Institution	$212.6M 70.4K contracts
R ROYAL BANK OF CANADA Institution	$38.8M 12.8K contracts
BANK OF AMERICA CORP /DE/ Institution	$12.1M 4.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$8.4M 2.8K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$7.5M 2.5K contracts
BARCLAYS PLC Institution	$6.0M 2.0K contracts
Walleye Trading LLC RIA/Wealth	$3.6M 1.2K contracts
W WOLVERINE TRADING, LLC Institution	$2.6M 857.0 contracts
J JANE STREET GROUP, LLC Institution	$2.6M 867.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$1.8M 582.0 contracts

Put Positions

Institution	Position Value
R ROYAL BANK OF CANADA Institution	$15.1M 5.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$14.8M 4.9K contracts
DLD Asset Management, LP Hedge Fund•Multi-Strategy	$7.6M 2.5K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$6.1M 2.0K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$5.4M 1.8K contracts
GOLDMAN SACHS GROUP INC Institution	$5.2M 1.7K contracts
W WOLVERINE TRADING, LLC Institution	$2.9M 962.0 contracts
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$2.6M 861.0 contracts
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$1.5M 500.0 contracts
BARCLAYS PLC Institution	$1.5M 496.0 contracts

Most Committed Institutions

Institutions with DBX as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
DLD Asset Management, LP Hedge Fund•Multi-Strategy	Mark Lawrence Friedman CIO	4.04% $28.3M	0.35% 936.3K shares	Q1 2025 Held for 8 months	$700.9M
SEIZERT CAPITAL PARTNERS, LLC Long Only Manager	David J Collon Managing Partner	2.43% $56.1M	0.69% 1.9M shares	Q3 2023 Held for 2y 2m	$2.3B
G Graphene Investments SAS Institution	-	1.97% $3.1M	0.04% 103.2K shares	Q4 2022 Held for 2y 11m	$158.1M
W West Tower Group, LLC Fund of Funds	Charles Hubert Gatling Honey CIO	1.53% $529.3K	0.01% 17.5K shares	Q4 2022 Held for 2y 11m	$34.5M
WEDGE CAPITAL MANAGEMENT L L P/NC Long Only Manager	Wesley Scott Stoltz Managing Partner	1.17% $69.1M	0.85% 2.3M shares	Q4 2021 Held for 3y 11m	$5.9B
3Chopt Investment Partners, LLC RIA/Wealth	Scott Jordan Storey Managing Partner	0.91% $4.0M	0.05% 132.4K shares	Q1 2023 Held for 2y 8m	$439.5M
Virtus ETF Advisers LLC Long Only Manager	Richard William Smirl President	0.83% $1.2M	0.02% 40.9K shares	Q1 2025 Held for 8 months	$148.9M
Lakewood Asset Management LLC RIA/Wealth	Todd J Mick CCO	0.82% $1.3M	0.02% 44.4K shares	Q2 2024 Held for 1y 5m	$163.0M
CASTLEKEEP INVESTMENT ADVISORS LLC RIA/Wealth	Charles Wesley Kelakos Haberstroh CEO	0.81% $1.7M	0.02% 56.7K shares	Q2 2025 Held for 5 months	$210.3M
INTREPID CAPITAL MANAGEMENT INC Hedge Fund•Value	Mark Forrest Travis CEO	0.81% $1.7M	0.02% 54.9K shares	Q4 2020 Held for 4y 11m	$204.1M

Hedge Fund Spotlight

Discover hedge funds investing in DBX

Trexquant Investment LP

Hedge Fund • Quant

Portfolio ManagerTaesoon (Tyger) Park

Portfolio Value: $9.7B
Positions: 1,540
Last Reported: Q3 2025

Sector Allocation

Position in Dropbox

Market Value: $2.5M
Shares Held: 81.5K
Portfolio Weight: 0.03%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
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2 Microsoft MSFT	Software - Infrastructure Technology	$138.5M	1.43%
3 Costco Wholesale COST	Discount Stores Consumer Defensive	$122.3M	1.26%