Arrowstreet reports 5.4% stake in Dropbox

Dropbox Inc ownership filing shows Arrowstreet Capital, Limited Partnership and Arrowstreet Capital Holding LLC report beneficial ownership of 8,533,736 common shares, representing 5.4% of the class as of 03/31/2026.

Rhea-AI Filing Summary

Dropbox Inc ownership filing shows Arrowstreet Capital, Limited Partnership and Arrowstreet Capital Holding LLC report beneficial ownership of 8,533,736 common shares, representing 5.4% of the class as of 03/31/2026. The shares are held by ASC investment advisory clients; ACH is the ultimate parent.

Insights

Institutional Ownership Analyst

Large passive stake reported by Arrowstreet across advisory clients

Arrowstreet reports 8,533,736 shares beneficially owned, with 8,378,951 shares of sole voting power and 8,533,736 shares of sole dispositive power as stated. The filing identifies holdings as held for ASC advisory clients and ACH as parent.

Holder disclosures show investor-level control metrics but attribute economic ownership to multiple clients; subsequent filings could disclose client identities if any exceed 5% individually.

Corporate Governance Specialist

Filing clarifies voting and disposition authority

The Schedule 13G lists sole voting power of 8,378,951 shares and sole dispositive power of 8,533,736 shares, indicating Arrowstreet exercises voting and sale authority for the reported block. The statement also notes no known single client holds >5%.

Because the filing is passive reporting under Rule 13G, it signals institutional accumulation but does not, by itself, reflect any planned corporate action.

Key Figures

Beneficial ownership: 8,533,736 shares Percent of class: 5.4% Sole voting power: 8,378,951 shares +2 more

5 metrics

Beneficial ownership 8,533,736 shares as of 03/31/2026

Percent of class 5.4% reported percent of common shares

Sole voting power 8,378,951 shares number with sole power to vote

Sole dispositive power 8,533,736 shares number with sole power to dispose

CUSIP 26210C104 Dropbox Inc common shares identifier

Key Terms

Schedule 13G, Beneficially owned, Sole dispositive power

3 terms

Schedule 13G regulatory

"This Schedule is filed by ASC, in its capacity as investment adviser"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Beneficially owned financial

"Amount beneficially owned: 8,533,736"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 8,533,736"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Arrowstreet report in Dropbox (DBX)?

Arrowstreet reports beneficial ownership of 8,533,736 shares, equal to 5.4% of Dropbox's common shares as of 03/31/2026. The filing attributes holdings to ASC advisory clients and ACH as the ultimate parent company.

Who holds voting and dispositive power for the reported shares?

The filing states Arrowstreet has sole voting power over 8,378,951 shares and sole dispositive power over 8,533,736 shares. These powers are exercised by ASC and ACH as reported in the Schedule 13G.

Are the reported Dropbox shares held directly by Arrowstreet or clients?

The Schedule 13G states the securities are held by investment advisory clients of ASC; ACH is disclosed as ASC's ultimate parent. No specific client is identified as holding more than 5% of the class.

What form and filing dates are shown in the disclosure?

This disclosure is a Schedule 13G for Dropbox Common Shares (CUSIP 26210C104) with an ownership reference date of 03/31/2026 and signature dates of 05/15/2026 by ASC and ACH representatives.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/15/2026 - 11:37 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Dropbox Inc

(Name of Issuer)

Common Shares

(Title of Class of Securities)

26210C104

(CUSIP Number)

03/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 26210C104

1

Names of Reporting Persons

Arrowstreet Capital, Limited Partnership

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

MASSACHUSETTS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 8,378,951.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 8,533,736.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,533,736.00

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)

5.4 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 26210C104

1

Names of Reporting Persons

Arrowstreet Capital Holding 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 8,378,951.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 8,533,736.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,533,736.00

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)

5.40 %

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, San Francisco, US-CA, 94158, US
Item 2.
(a)	Name of person filing: Arrowstreet Capital, Limited Partnership ("ASC") Arrowstreet Capital Holding LLC ("ACH")
(b)	Address or principal business office or, if none, residence: 200 Clarendon Street, 30th Floor, Boston, 02116, Massachusetts, United States
(c)	Citizenship: ASC: Massachusetts ACH: Delaware
(d)	Title of class of securities: Common Shares
(e)	CUSIP Number(s): 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: 8,533,736
(b)	Percent of class: ASC: 5.4% ACH: 5.4%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 8,378,951
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 8,533,736
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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. This Schedule is filed by ASC, in its capacity as investment adviser to a number of its investment advisory clients, and by ACH, in its capacity as the ultimate parent company of ASC. The securities to which this Schedule relate are held by investment advisory clients of ASC. The securities to which this Schedule relates are held by investment advisor clients of ASC. No such investment advisory client of ASC is known by ASC or by ACH to hold more than five percent of the class of securities to which this schedule relates.
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.

Arrowstreet Capital, Limited Partnership

Signature:	Kimberly Kelley
Name/Title:	Chief Compliance Officer
Date:	05/15/2026

Arrowstreet Capital Holding LLC

Signature:	Eric Burnett
Name/Title:	Member and Authorized Signatory
Date:	05/15/2026