Who owns the most Robinhood shares in 2025?
Robinhood Markets has attracted a diverse range of investors since its 2021 Nasdaq Stock Market listing, from major institutions to individual shareholders.
As of November, its Robinhood Markets shares trade around $131, with a market capitalisation exceeding $117bn. Its ownership base spans institutional, mutual fund and retail investors, reflecting its evolution from a start-up brokerage into a major player in US financial markets.
What is Robinhood?
Founded in 2013, California-based Robinhood Markets (HOOD) is a financial technology (fintech) company which operates in the trading sector. It has evolved into a diversified financial ecosystem, incorporating banking, asset management, and, more recently, mortgage lending and access to private markets.
The company earns revenue primarily through:
- Payments for order flow from market makers
- Interest on client cash balances
- Subscription income from Robinhood Gold
- Fees from asset management and new financial products
Since its 2021 Nasdaq Stock Market listing, Robinhood has continued to expand its user base and introduce new services, including futures trading, mortgage benefits, and a venture fund providing retail investors access to private AI companies – a move that broadens access to markets traditionally limited to institutional investors.
Robinhood share price performance
Robinhood Markets remains one of the most notable performers of 2025. The company has consolidated its position as both a retail trading hub and a growing fintech provider, expanding its product range and reinforcing its presence in the financial services sector.
As of 12 November 2025, HOOD was trading at $131.44, representing a gain of more than 250% year-to-date (YTD) and setting a new annual high of $153.86, with a market capitalisation of approximately $117bn.
Past performance is not a reliable indicator of future results.
Who owns the most shares in Robinhood?
As of November 2025, Robinhood had 898.67 million shares outstanding, with a total market value of $122.11bn. Ownership is diversified among institutional, mutual fund and retail investors.
| Type | Common stock held | % of shares outstanding | Market value |
|---|---|---|---|
| Mutual funds & ETFs | 295.18m | 32.85% | $40.11bn |
| Other institutional investors | 326.17m | 36.30% | $44.32bn |
| Public companies & retail investors | 277.31m | 30.86% | $37.68bn |
| Total | 898.67m | 100% | $122.11bn |
Institutional investors therefore hold more than two-thirds of Robinhood’s total shares, reflecting strong institutional participation in the company’s ownership structure.
Top institutional holders
| # | Holder | % of holding | Shares held | Value (USD ‘000s) |
|---|---|---|---|---|
| 1 | The Vanguard Group, Inc. | 10.51% | 94,436,459 | 12,832,026 |
| 2 | BlackRock, Inc. | 6.20% | 55,714,152 | 7,570,439 |
| 3 | FMR LLC (Fidelity) | 3.36% | 30,211,669 | 4,105,162 |
| 4 | Index Ventures VI | 3.18% | 28,574,140 | 3,882,654 |
| 5 | Newlands Management Operations LLC | 2.69% | 24,158,860 | 3,282,706 |
| 6 | JP Morgan Asset Management | 2.55% | 22,917,731 | 3,114,061 |
| 7 | Index Ventures SA | 1.84% | 16,558,554 | 2,249,976 |
| 8 | State Street Global Advisors | 1.77% | 15,870,421 | 2,156,473 |
| 9 | DST Global V, L.P. | 1.53% | 13,747,106 | 1,867,957 |
| 10 | Geode Capital Management, LLC | 1.47% | 13,176,539 | 1,790,428 |
Vanguard and BlackRock remain the two largest shareholders, together owning more than 16% of Robinhood’s outstanding shares. Both firms hold positions across multiple index and growth funds, indicating Robinhood’s integration within the wider US market ecosystem.
Top mutual fund holders
| # | Holder | % of holding | Shares held | Value (USD ‘000s) |
|---|---|---|---|---|
| 1 | Vanguard Total Stock Market ETF | 2.74% | 24,361,474 | 3,310,237 |
| 2 | Vanguard S&P 500 ETF | 2.15% | 19,067,731 | 2,590,923 |
| 3 | Vanguard Mid-Cap ETF | 1.93% | 17,122,122 | 2,326,554 |
| 4 | Government Pension Fund Global | 1.21% | 10,762,611 | 1,462,424 |
| 5 | iShares Core S&P 500 ETF | 1.07% | 9,492,580 | 1,289,852 |
| 6 | SPDR S&P 500 ETF | 1.04% | 9,223,320 | 1,253,265 |
| 7 | Vanguard Growth ETF | 1.03% | 9,114,400 | 1,238,465 |
| 8 | Fidelity Growth Company Fund | 0.79% | 7,028,998 | 955,100 |
| 9 | JPMorgan Large Cap Growth Fund | 0.78% | 6,928,215 | 941,406 |
| 10 | Vanguard Mid-Cap Growth ETF | 0.75% | 6,631,978 | 901,153 |
The presence of major index funds among Robinhood’s top holders suggests the company’s growing representation across key US equity benchmarks, indicating broad institutional confidence.
Key takeaways
Understanding a company’s ownership structure can help investors assess how shareholding patterns may influence market behaviour. Large transactions by institutional or individual investors can affect share prices, but they represent just one aspect of broader market dynamics.
Robinhood’s shareholder base has become increasingly diversified in 2025, reflecting its maturity as a public company and renewed market confidence following earlier volatility.
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FAQ
How many Robinhood shares are there?
As of November 2025, Robinhood has 898.67 million shares in circulation, according to the company’s latest ownership data. This figure represents a modest increase from previous years, reflecting ongoing expansion in its operations and employee share programmes.
How many shareholders does Robinhood have?
Robinhood reports more than 500 institutional shareholders, based on its most recent filings with the US Securities and Exchange Commission (SEC). These filings include asset managers, mutual funds and pension funds that hold positions in the company on behalf of their clients.
Who owns Robinhood Markets?
Ownership of Robinhood is widely diversified. As of 2025:
Mutual funds and ETFs hold 32.85% of the company’s stock
Other institutional investors own 36.30%
Public companies and retail investors account for 30.86%
This distribution illustrates a balanced shareholder base, with ownership spread across both institutional and retail participants, reflecting Robinhood’s integration into broader equity markets.
Does Robinhood have insider ownership?
Yes. Company co-founders Vlad Tenev and Baiju Bhatt remain among Robinhood’s key shareholders, primarily through their holdings of Class B shares, which carry enhanced voting rights. This structure enables the founders to retain strategic oversight of the company’s long-term direction while maintaining transparency for Class A shareholders listed on the Nasdaq Stock Market.
What type of investors hold Robinhood shares?
Robinhood’s shareholder base comprises institutional investors, mutual funds and a sizeable retail segment. Its inclusion in major US equity indices has attracted additional passive investment through ETFs and index funds, contributing to stable institutional ownership. The company’s retail following remains notable, owing to its origins as a commission-free trading platform that broadened access to financial markets.