The Trade Desk

TTD • NASDAQ

The Trade Desk is a software - application company in the technology sector on NASDAQ, led by Jeffrey Terry Green, with a market cap of $17.5B. As of Q3 2025, 75% of shares are held by 926 institutional investors, with VANGUARD GROUP INC as the largest holder at 11.63%.

CEOJeffrey Terry Green

Market Cap$17.5B

Software - Application

Technology

Employees3.1K

Websitethetradedesk.com

Country

United States of America

Overview

Overview of institutional ownership in TTD as of Q3 2025 with a market cap of $24.0B

All Institutions

Institutions: 926
Value Held: $18.0B
Shares Held: 366.2M
Avg Position: $19.4M
Median Position: $657.0K

Hedge Funds

Hedge Funds: 63
Value Held: $1.1B
Shares Held: 21.4M
Avg Position: $16.7M
Median Position: $2.9M

Ownership Breakdown

Institutional (non-HF)

70.58%

$16.9B

Hedge Funds

4.39%

$1.1B

Retail & Other

25.03%

$6.0B

Based on market cap of $24.0B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in TTD as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$2.8B 0.04% of portfolio	11.63% 56.9M shares	Q3 2016 Held for 9y 3m	$6.69T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.8B 0.06% of portfolio	7.44% 36.4M shares	Q4 2016 Held for 9 years	$2.88T
BlackRock, Inc. Institution	Laurence D. Fink CEO	$1.8B 0.03% of portfolio	7.35% 36.0M shares	Q4 2016 Held for 9 years	$5.67T
B BAILLIE GIFFORD & CO Institution	-	$1.4B 1.06% of portfolio	5.95% 29.1M shares	Q3 2018 Held for 7y 3m	$134.80B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$738.8M 0.05% of portfolio	3.09% 15.1M shares	Q4 2016 Held for 9 years	$1.57T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$538.6M 0.03% of portfolio	2.25% 11.0M shares	Q3 2016 Held for 9y 3m	$1.65T
B BROWN ADVISORY INC RIA/Wealth	David Alan Miller Founder	$430.0M 0.58% of portfolio	1.79% 8.8M shares	Q2 2020 Held for 5y 6m	$74.0B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$333.7M 0.05% of portfolio	1.39% 6.8M shares	Q1 2017 Held for 8y 9m	$633.08B
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$310.0M 0.02% of portfolio	1.29% 6.3M shares	Q3 2016 Held for 9y 3m	$1.56T
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$258.9M 0.16% of portfolio	1.08% 5.3M shares	Q3 2022 Held for 3y 3m	$161.58B

Net Capital Flow

Institutional buying and selling activity for TTD in Q3 2025

Traded: +$2.5B
Buyers: 498
Sellers: 549
Total Bought: +$4.9B
Total Sold: −$2.4B
Avg Position: $15.4M

Biggest Buyers

Institution	Net Bought	Current Position
STATE STREET CORP Institution	+$1.3B +26.6M shares	$1.8B 36.4M shares
VANGUARD GROUP INC Institution	+$603.9M +12.3M shares	$2.8B 56.9M shares
BlackRock, Inc. Institution	+$455.7M +9.3M shares	$1.8B 36.0M shares
Invesco Ltd. ETF Provider	+$167.7M +3.4M shares	$333.7M 6.8M shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	+$135.8M +2.8M shares	$738.8M 15.1M shares
BARCLAYS PLC Institution	+$114.4M +2.3M shares	$149.4M 3.0M shares
B BNP PARIBAS ARBITRAGE, SA Institution	+$108.0M +2.2M shares	$149.1M 3.0M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$105.7M +2.2M shares	$109.0M 2.2M shares
UBS Group AG Institution	+$99.7M +2.0M shares	$173.7M 3.5M shares
J Jericho Capital Asset Management L.P. Hedge Fund•Long/Short	+$92.3M +1.9M shares	$199.3M 4.1M shares

Biggest Sellers

Institution	Net Sold	Current Position
VIKING GLOBAL INVESTORS LP Hedge Fund•Long/Short	−$192.5M −2.7M shares	Sold Off 0 shares
T T. Rowe Price Investment Management, Inc. Insurance Manager	−$129.2M −2.6M shares	$258.9M 5.3M shares
JPMORGAN CHASE & CO Institution	−$112.8M −2.3M shares	$310.0M 6.3M shares
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	−$102.1M −1.4M shares	Sold Off 0 shares
ING INVESTMENT MANAGEMENT LLC Insurance Manager	−$97.4M −2.0M shares	$13.9M 282.7K shares
MORGAN STANLEY RIA/Wealth	−$80.7M −1.6M shares	$538.6M 11.0M shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$79.8M −1.1M shares	Sold Off 0 shares
B BAILLIE GIFFORD & CO Institution	−$77.8M −1.6M shares	$1.4B 29.1M shares
FRANKLIN RESOURCES INC Institution	−$71.4M −1.5M shares	$37.0M 754.5K shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	−$63.1M −876.9K shares	Sold Off 0 shares

Entry and Exit Activity

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

New Positions: 72
New Value: $133.2M
Exited Positions: 239
Exited Value: $1.1B

New Positions

Institution	Position Value
R Retirement Systems of Alabama Institution	$44.7M 912.0K shares
A ADAGE CAPITAL PARTNERS GP LLC Institution	$19.9M 405.7K shares
Chevy Chase Trust Holdings, Inc. RIA/Wealth	$11.2M 228.4K shares
S STATE TREASURER STATE OF MICHIGAN Institution	$5.9M 120.5K shares
C Czech National Bank Institution	$5.5M 113.2K shares
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS Private Equity	$5.2M 107.0K shares
S State of Tennessee, Treasury Department Institution	$5.0M 101.4K shares
NEW YORK LIFE INVESTMENT MANAGEMENT LLC Long Only Manager	$3.0M 60.9K shares
D Delta Global Management LP Hedge Fund•Market Neutral	$2.7M 54.2K shares
SummitTX Capital, L.P. Hedge Fund•Multi-Strategy	$2.6M 53.2K shares

Exited Positions

Institution	Previous Position
VIKING GLOBAL INVESTORS LP Hedge Fund•Long/Short	$192.5M 2.7M shares
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	$102.1M 1.4M shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	$79.8M 1.1M shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	$63.1M 876.9K shares
SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC Hedge Fund•Long/Short	$63.1M 876.3K shares
PARNASSUS INVESTMENTS /CA Long Only Manager	$46.6M 647.4K shares
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$46.0M 638.8K shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$38.4M 533.2K shares
Marshall Wace LLP Institution	$32.0M 444.5K shares
Chicago Capital, LLC RIA/Wealth	$30.2M 420.1K shares

Options Activity

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

Call Positions: 61
Call Value: $1.4B
Put Positions: 51
Put Value: $1.5B

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$350.1M 71.4K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$335.2M 68.4K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$134.5M 27.4K contracts
J JANE STREET GROUP, LLC Institution	$107.2M 21.9K contracts
W WOLVERINE TRADING, LLC Institution	$66.4M 13.4K contracts
Q Qube Research & Technologies Ltd Institution	$47.2M 9.6K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$45.2M 9.2K contracts
P PEAK6 LLC Institution	$42.2M 8.6K contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$34.7M 7.1K contracts
A ADAPT Investment Managers SA Institution	$33.3M 6.8K contracts

Put Positions

Institution	Position Value
S Squarepoint Ops LLC Hedge Fund•Quant	$288.7M 58.9K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$262.1M 53.5K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$179.6M 36.6K contracts
D D. E. Shaw & Co., Inc. Institution	$136.1M 27.8K contracts
J JANE STREET GROUP, LLC Institution	$126.2M 25.7K contracts
Walleye Trading LLC RIA/Wealth	$46.9M 9.6K contracts
P PEAK6 LLC Institution	$39.5M 8.1K contracts
Marshall Wace LLP Institution	$38.6M 7.9K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$34.7M 7.1K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$30.9M 6.3K contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
B Broadcrest Asset Management, LLC Hedge Fund•Value	John Oliver Burden CEO	11.12% $4.9M	0.02% 100.0K shares	Q2 2025 Held for 6 months	$44.1M
A Arthedge Capital Management, LLC Hedge Fund•Value	Samir Gupta CCO	8.05% $11.9M	0.05% 243.3K shares	Q4 2020 Held for 5 years	$148.2M
Advanced Portfolio Management, LLC Hedge Fund•Multi-Strategy	Robert Edward Kiernan CEO	6.19% $2.5M	0.01% 50.0K shares	Q3 2025 Held for 3 months	$39.6M
I In-Depth Partners, LLC Hedge Fund•Long/Short	Daniel Nmn Arruda Founder	3.04% $2.9M	0.01% 58.6K shares	Q4 2021 Held for 4 years	$94.3M
A ADAPT Investment Managers SA Institution	-	2.78% $13.2M	0.06% 270.0K shares	Q2 2025 Held for 6 months	$475.4M
Pointe Capital Management LLC RIA/Wealth	Jeffrey Charles Huebner Managing Partner	2.75% $5.6M	0.02% 114.7K shares	Q2 2025 Held for 6 months	$204.5M
Ardmore Road Asset Management LP Hedge Fund•Long/Short	Christopher David Connor CIO	2.54% $36.8M	0.15% 750.0K shares	Q1 2025 Held for 9 months	$1.4B
S Synergy Financial Group, LTD RIA/Wealth	Phil L Jacobson Managing Partner	2.50% $3.7M	0.02% 75.8K shares	Q4 2021 Held for 4 years	$148.3M
JACOBSON & SCHMITT ADVISORS, LLC RIA/Wealth	Adam Christopher Sweet Partner	2.44% $14.2M	0.06% 289.6K shares	Q2 2018 Held for 7y 6m	$582.8M
ABLES, IANNONE, MOORE & ASSOCIATES, INC. RIA/Wealth	Jeffrey Anthony Iannone CEO	2.33% $4.1M	0.02% 82.7K shares	Q4 2023 Held for 2 years	$173.9M

Hedge Fund Spotlight

Discover hedge funds investing in TTD

Woodline Partners LP

Hedge Fund • Long/Short

Portfolio ManagerMichael Clifford Rockefeller

Portfolio Value: $21.3B
Positions: 868
Last Reported: Q3 2025

Sector Allocation

Position in The Trade Desk

Market Value: $2.9M
Shares Held: 58.9K
Portfolio Weight: 0.01%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 Microsoft MSFT	Software - Infrastructure Technology	$615.5M	2.90%
2 Nvidia NVDA	Semiconductors Technology	$603.3M	2.84%
3 Apple AAPL	Consumer Electronics Technology	$522.1M	2.46%