Renaissance Technologies reports 4.58% Dropbox (DBX) stake in 13G/A filing

Rhea-AI Filing Summary

Dropbox, Inc. received an updated ownership report from Renaissance Technologies entities. Renaissance Technologies LLC and Renaissance Technologies Holdings Corporation reported beneficial ownership of 8,376,364 shares of Dropbox Class A common stock, representing 4.58% of the class as of the event date.

The firms have sole voting and dispositive power over these shares, with no shared power reported. The securities are held in the ordinary course of business and are not held for the purpose of changing or influencing control of Dropbox.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

DROPBOX, INC.

(Name of Issuer)

Class A Common Stock, par value $0.00001 per share

(Title of Class of Securities)

26210C104

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 26210C104

1

Names of Reporting Persons

Renaissance Technologies LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 8,376,364.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 8,376,364.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,376,364.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.58 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 26210C104

1

Names of Reporting Persons

Renaissance Technologies Holdings Corporation

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 8,376,364.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 8,376,364.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,376,364.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.58 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DROPBOX, INC.
(b)	Address of issuer's principal executive offices: 1800 OWENS STREET, SUITE 200, SAN FRANCISCO, CA 94158
Item 2.
(a)	Name of person filing: This Schedule 13G is being filed by Renaissance Technologies LLC ("RTC") and Renaissance Technologies Holdings Corporation ("RTHC").
(b)	Address or principal business office or, if none, residence: 800 Third Avenue New York, New York 10022
(c)	Citizenship: RTC is a Delaware limited liability company, and RTHC is a Delaware corporation.
(d)	Title of class of securities: Class A Common Stock, par value $0.00001 per share
(e)	CUSIP No.: 26210C104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 8376364
(b)	Percent of class: 4.58 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 8376364
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 8376364
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Certain funds managed by RTC have the right to receive dividends and proceeds from the sale of the securities which are the subject of this report.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Renaissance Technologies LLC

Signature:	Brian Felczak
Name/Title:	Chief Financial Officer
Date:	02/12/2026

Renaissance Technologies Holdings Corporation

Signature:	Brian Felczak
Name/Title:	Vice President
Date:	02/12/2026

Exhibit Information

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, each of the undersigned agrees to the filing on behalf of each of a Statement on Schedule 13G, and all amendments thereto, with respect to the Class A Common Stock, par value $0.00001 per share of DROPBOX, INC.

FAQ

What percentage of Dropbox (DBX) does Renaissance Technologies report owning?

Renaissance Technologies entities report beneficial ownership of 4.58% of Dropbox’s Class A common stock. This percentage is based on 8,376,364 shares that they can vote and dispose of, giving them a significant but minority institutional position in the company.

How many Dropbox (DBX) shares are beneficially owned by Renaissance Technologies?

Renaissance Technologies entities report beneficial ownership of 8,376,364 Dropbox Class A shares. They indicate sole voting and sole dispositive power over this full amount, meaning they alone decide how these shares are voted and whether they are sold.

Why did Renaissance Technologies file an amended Schedule 13G/A for Dropbox (DBX)?

Renaissance filed an amended Schedule 13G/A because its beneficial ownership information for Dropbox Class A common stock changed as of 12/31/2025. The filing updates the market on their 4.58% stake and confirms it is held in the ordinary course of business.

Does Renaissance Technologies seek to influence control of Dropbox (DBX) with this stake?

The filing states the Dropbox shares were acquired and are held in the ordinary course of business. It explicitly notes they are not held for the purpose or effect of changing or influencing the control of Dropbox, indicating a passive investment posture.

Who actually receives dividends and sale proceeds from Renaissance’s Dropbox (DBX) shares?

The filing explains that certain funds managed by Renaissance Technologies LLC have the right to receive dividends and proceeds from the sale of the Dropbox shares. Renaissance manages these funds, but the economic benefits ultimately accrue to those underlying fund investors.

Which Renaissance entities are listed as reporting persons for Dropbox (DBX)?

The Schedule 13G/A lists Renaissance Technologies LLC (RTC) and Renaissance Technologies Holdings Corporation (RTHC) as reporting persons. Both are organized in Delaware and each reports the same 8,376,364 shares and 4.58% beneficial ownership of Dropbox Class A common stock.