Circle Internet Group (CRCL): which funds own it
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Sections with a free account
8 concentrated managers hold it (+1 vs last quarter) with a median weight of 2.5%.
Who owns Circle Internet Group?
Holders that filed a Schedule 13D or 13G with the SEC for owning more than 5% of the Class A shares: Jeremy Allaire (13G filed Aug 13, 2025), Chuang Xi Capital (13G/A filed Aug 11, 2026) and OAK Management (13G filed Aug 12, 2025). Zhou Quan and General Catalyst Group VI, L.P. are listed on their Form 4 filings as owners of more than 10%. As of Jun 30, 2026, the largest holders of Class A reported on Form 13F were IDG China Capital Fund III Associates (3.9% of Class A), BlackRock (3.6%) and Morgan Stanley (3.6%).
Which institutions hold the most Circle Internet Group shares?
Per Form 13F filings as of Jun 30, 2026, as a share of Class A:
- 1. IDG China Capital Fund III Associates: 3.9%
- 2. BlackRock: 3.6%
- 3. Morgan Stanley: 3.6%
- 4. IDG-Accel China Capital II Associates: 3.0%
- 5. Vanguard Portfolio Management: 2.6%
- 6. Vanguard Capital Management: 2.2%
- 7. ARK Investment Management: 2.0%
- 8. UBS Group: 1.8%
- 9. State Street: 1.4%
- 10. Sumitomo Mitsui Trust Group: 1.4%
How much of Circle Internet Group do institutions own?
The 566 institutions that file 13F reported 57.4% of the Class A shares as of Jun 30, 2026.
Sources:13G by Jeremy Allaire (Aug 13, 2025) ↗13G/A by Chuang Xi Capital (Aug 11, 2026) ↗13G by OAK Management (Aug 12, 2025) ↗All of the company's proxy statements on EDGAR ↗
13F percentages divide the shares each institution reports by the Class A shares outstanding on the cover of the company's latest report before the quarter end (May 6, 2026). Entities of the same group file separately and are not added up. With more than one share class, a 13D or 13G counts shares convertible from another class as owned, so we do not show its percentage. We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.
Circle Internet Group revenue
Circle Internet Group reported annual revenue of $2.75 billion for fiscal year 2025 (year ended December 31, 2025), according to its Form 10-K filed with the SEC (XBRL data).
Quarter flow (concentrated managers)
Change in managers (7 → 8): 1 opened · 1 exited · 1 more with no comparable data = +1
“No comparable data”: managers whose previous-quarter portfolio we cannot compare (first 13F, or they did not file that quarter), plus spin-offs and corporate exits (mergers, delistings). They change the count without being a clean buy or sale. It is a net figure: “more” when more of them enter the count than leave it, “fewer” when it is the other way round. Here: 1 entered with no comparable quarter.
Net flow in the quarter: +$18.2M (+290 K shares) · bought $44.4M and sold $26.3MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.
The set of concentrated managers changed between quarters: with the set as it was then, 6 held it last quarter (the chart point); with today's set, 7 (the base for the change).
Concentrated managers holding it
- Southpoint Capital AdvisorsReduced$188M4.3%−0.4 pp
- Keywise Capital Management (hk)Reduced$77.7M11.2%−0.8 pp
- Keystone Investors PTENo comparable data$75.1M4.0%+4.0 pp
- Slate Path CapitalNew$35.5M0.5%+0.5 pp
- Think InvestmentsIncreased$27.6M3.4%+0.6 pp
- H&H International Investment$12.5M0.1%
- Matthew 25 ManagementIncreased$5.2M1.5%+0.4 pp
- BIT Capital GmbHIncreased$4.4M0.2%+0.1 pp
Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.
Other relevant holders
Filers with $100M or more in the stock that do not count as concentrated managers because of their type: they are left out of the counts, the consensus and the accumulation.
- IDG China Capital Fund III AssociatesPrivate equity or venture capital$558M98.9%
- IDG-Accel China Capital II AssociatesSingle-position portfolio$437M100.0%
- SBI Holdings USASingle-position portfolio$133M100.0%
- Norges BankPension or sovereign fund$132M0.0%
Largest holders of CRCL (all 13F filers)
- IDG China Capital Fund III Associates8.9 MPrivate equity or venture capital · 3.87% of the company−102 K
- BlackRock8.4 MIndex manager · 3.64% of the company+3.3 M
- Morgan Stanley8.3 MBank or trading desk · 3.62% of the company+3.3 M
- IDG-Accel China Capital II Associates7.0 MSingle-position portfolio · 3.03% of the company−22 K
- Vanguard Portfolio Management5.9 MIndex manager · 2.56% of the company+389 K
- Vanguard Capital Management5.0 MIndex manager · 2.16% of the company+353 K
- ARK Investment Management4.6 MType not verified · 1.98% of the company+49 K
- UBS Group4.1 MBank or trading desk · 1.80% of the company+1.9 M
- State Street3.3 MIndex manager · 1.45% of the company+1.8 M
- Sumitomo Mitsui Trust Group3.2 MBank or trading desk · 1.39% of the company+268 K
- IDG China Capital Fund III Associates
- Shares
- 8.9 M
- Change
- −102 K
- % of the company
- 3.87%
See more
- Type
- Private equity or venture capital
- Value
- $558M
- Shares
- 8.4 M
- Change
- +3.3 M
- % of the company
- 3.64%
See more
- Type
- Index manager
- Value
- $524M
- Shares
- 8.3 M
- Change
- +3.3 M
- % of the company
- 3.62%
See more
- Type
- Bank or trading desk
- Value
- $521M
- IDG-Accel China Capital II Associates
- Shares
- 7.0 M
- Change
- −22 K
- % of the company
- 3.03%
See more
- Type
- Single-position portfolio
- Value
- $437M
- Shares
- 5.9 M
- Change
- +389 K
- % of the company
- 2.56%
See more
- Type
- Index manager
- Value
- $368M
- Shares
- 5.0 M
- Change
- +353 K
- % of the company
- 2.16%
See more
- Type
- Index manager
- Value
- $311M
- Shares
- 4.6 M
- Change
- +49 K
- % of the company
- 1.98%
See more
- Type
- Type not verified
- Value
- $285M
- Shares
- 4.1 M
- Change
- +1.9 M
- % of the company
- 1.80%
See more
- Type
- Bank or trading desk
- Value
- $260M
- Shares
- 3.3 M
- Change
- +1.8 M
- % of the company
- 1.45%
See more
- Type
- Index manager
- Value
- $208M
- Shares
- 3.2 M
- Change
- +268 K
- % of the company
- 1.39%
See more
- Type
- Bank or trading desk
- Value
- $200M
The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.
Fundamentals
12-month figures to Sep 30, 2026.
- Operating margin
- 11.3%
- Net margin
- 15.3%
- ROE
- 12.0%
- Revenue (TTM)
- $3.0 bn
- Revenue growth
- 25.7%
- Net income (TTM)
- $463M
- Quality vs sector
- 48/100
Bank, insurer or other financial company: we do not show net debt / EBITDA or free cash flow. Its cash flow moves with loans and the investment portfolio, and its debt is part of the business: those figures do not read as they do for an industrial company.
Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated
Earnings quality and debt
25.9% of net income does not come from operations.
- Operating cash flow ÷ net income (12 months)
- 1.67
Bank or insurer: debt ratios do not apply.
From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.
Insiders (Form 4)
10% owners who bought (6 m): 0
Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.
Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →
Above 5% (13D/13G)
Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.
This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.
- Chuang Xi Capital7.4%13G · amendmentfiling ↗Event: Jun 30, 2026 · filed: Aug 11, 2026
- James Breyer3.2%(fell below 5%)13G · amendmentfiling ↗Event: Dec 31, 2025 · filed: Feb 17, 2026
- General Catalyst Group Management Holdings GPfell below 5%13G · amendmentfiling ↗Event: Dec 31, 2025 · filed: Feb 17, 2026
Above 5% over time (13D/13G)
Each holder with its filings in order. History since December 2024.
Flagged material events (8-K)
Change in directors or officers (Item 5.02)
Unregistered sale of equity securities (Item 3.02)
Change in directors or officers (Item 5.02)
Change in directors or officers (Item 5.02)
Alert items the company itself flagged in its 8-K filings with the SEC, most serious first. It is the form's label, with no interpretation from us: Item 5.02 covers routine appointments as well as a chief executive's departure; open the filing. The quoted headline is the original press release's.
All material events (8-K)
Earnings, agreements, financing, management changes and announcements from the last year, with a filter by type and a link to each filing.
Other Financials stocks in managers' portfolios
Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.
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