Which funds own TOST
Toast Inc in the Q2 2026 filings. At least 6 of the 91 current managers on file reported a position, worth $1.0bn between them. It is among the largest positions of fewer than a fifth of the current managers on file. The quarter went one way: 5 managers opened or added against 1 cutting.
- Managers holding
- 6
- at least, of 91 current
- Combined value
- $1.0bn
- as reported
- Opened
- 1
- new this quarter
- Added to
- 4
- already held
- Trimmed or sold out
- 1
- 0 sold out entirely
Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.
Managers reporting a position
Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.
| Manager | Value | Weight | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
| ValueAct Holdings LP Activist · $5.6bn book | $393m | 7.0% | 14,134,038 | +$51m+1,238,600 | Added |
| AllianceBernstein LP Long-only · $302bn book | $289m | 0.1% | 10,895,417 | -$357m-7,277,957 | Trimmed |
| Balyasny Asset Management LLC Multi-strategy · $80.2bn book | $198m | 0.2% | 7,126,975 | +$139m+4,905,300 | Added |
| ARK Investment Management LLC Long-only · $15.4bn book | $52m | 0.3% | 1,859,887 | +$3.7m+49,133 | Added |
| Bridgewater Associates LP Macro · $24.4bn book | $40m | 0.2% | 1,428,975 | +$31m+1,091,740 | Added |
| Light Street Capital Management LLC Long/short equity · $903m book | $33m | 3.6% | 1,167,500 | opened1,167,500 | New |
Ownership through time
At least 13 of the 95 managers whose filings are on file listed TOST in Q2 2026, against 13 in Q3 2021. 1 manager fewer than in Q1 2026: 1 started a position; 2 no longer listed it among the positions read, which can mean a holding below the listed range or a filing not yet made.
Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.
- Q3 2021: 13
- Q4 2021: 12
- Q1 2022: 8
- Q2 2022: 10
- Q3 2022: 13
- Q4 2022: 12
- Q1 2023: 12
- Q2 2023: 14
- Q3 2023: 15
- Q4 2023: 13
- Q1 2024: 12
- Q2 2024: 14
- Q3 2024: 11
- Q4 2024: 18
- Q1 2025: 16
- Q2 2025: 21
- Q3 2025: 18
- Q4 2025: 17
- Q1 2026: 14
- Q2 2026: 13
- Q3 2021: $376m
- Q4 2021: $1.6bn
- Q1 2022: $1.3bn
- Q2 2022: $889m
- Q3 2022: $1.2bn
- Q4 2022: $1.4bn
- Q1 2023: $1.3bn
- Q2 2023: $1.5bn
- Q3 2023: $1.3bn
- Q4 2023: $820m
- Q1 2024: $1.5bn
- Q2 2024: $1.8bn
- Q3 2024: $2.8bn
- Q4 2024: $4.1bn
- Q1 2025: $2.7bn
- Q2 2025: $3.4bn
- Q3 2025: $2.6bn
- Q4 2025: $2.6bn
- Q1 2026: $2.4bn
- Q2 2026: $2.2bn
Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.
Started in Q2 2026
Largest increases, by shares
- Balyasny Asset Management LLC2,221,675 to 7,126,975 shares+$136m
- Fidelity (FMR LLC)31,731,204 to 33,528,155 shares+$50m
- ValueAct Holdings LP12,895,438 to 14,134,038 shares+$34m
- Light Street Capital Management LLCnew: 1,167,500 shares+$32m
- Bridgewater Associates LP337,235 to 1,428,975 shares+$30m
Largest decreases, by shares
- AllianceBernstein LP18,173,374 to 10,895,417 shares-$193m
- Renaissance Technologies LLC4,321,437 to 1,935,128 shares-$66m
- Marshall Wace LLP2,899,621 to 1,470,827 shares-$40m
- Man Group PLC1,079,486 to 1,034,339 shares-$1.3m
Left it
No manager on file is shown leaving it.
What TOST is worth
Knowing who owns it is half the question. The other half is what it is worth against the companies it trades beside, which is the one an interviewer will follow up with.
Build the comp set around TOST →How much of the picture this is
A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.
What to do with a name the funds are buying
Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.
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The holdings, every quarter, and the week between
One email a week on what moved in the market and what it means for the people interviewing into it, with the 13F changes the quarter they are filed.
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