COUPANG INC CPNG
CL A · Common Stock · CUSIP 22266T109 · ISIN US22266T1097
ECommerce website and enterprise in Seoul, South Korea
- SectorConsumer discretionary
- IndustryRetail-Catalog & Mail-Order Houses
- HeadquartersSeattle, WA
- Founded2010
- Websitecoupang.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($74.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $29.99. Options: 41 managers hold calls ($790.0m notional), 30 hold puts ($305.1m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 336 |
| Q4 2022 | 376 |
| Q1 2023 | 360 |
| Q2 2023 | 361 |
| Q3 2023 | 407 |
| Q4 2023 | 430 |
| Q1 2024 | 479 |
| Q2 2024 | 523 |
| Q3 2024 | 534 |
| Q4 2024 | 607 |
| Q1 2025 | 616 |
| Q2 2025 | 664 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 197 | 149 |
| Q4 2023 | 214 | 190 |
| Q1 2024 | 256 | 197 |
| Q2 2024 | 309 | 200 |
| Q3 2024 | 255 | 236 |
| Q4 2024 | 287 | 251 |
| Q1 2025 | 321 | 257 |
| Q2 2025 | 359 | 282 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $660.0m | $150.1m | 0.23 |
| Q4 2024 | $409.7m | $107.0m | 0.26 |
| Q1 2025 | $315.7m | $111.5m | 0.35 |
| Q2 2025 | $790.0m | $305.1m | 0.39 |
Biggest buyers
| D. E. Shaw & Co., Inc. | Added | +7.8m |
| EMINENCE CAPITAL, LP | New | +6.8m |
| TWO SIGMA ADVISERS, LP | Added | +6.2m |
| TWO SIGMA INVESTMENTS, LP | Added | +6.1m |
| Dodge & Cox | Added | +5.8m |
| BAILLIE GIFFORD & CO | Added | +5.6m |
| JPMORGAN CHASE & CO | Added | +4.6m |
| Palestra Capital Management LLC | New | +4.5m |
| Altimeter Capital Management, LP | Added | +4.0m |
| Whale Rock Capital Management LLC | New | +3.6m |
Biggest sellers
| SB INVESTMENT ADVISERS (UK) LTD | Reduced | -40.0m |
| GQG Partners LLC | Sold out | -7.7m |
| MASSACHUSETTS INSTITUTE OF TECHNOLOGY | Reduced | -5.6m |
| PointState Capital LP | Reduced | -5.6m |
| Duquesne Family Office LLC | Reduced | -5.2m |
| Dragoneer Investment Group, LLC | Reduced | -4.9m |
| HRTG GPE, LLC | Reduced | -4.0m |
| JACOBS LEVY EQUITY MANAGEMENT, INC | Reduced | -3.6m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -3.2m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -2.5m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $167.4m5.6m shares |
| Luxor Capital Group, LP | Added | $74.5m2.5m shares |
| JANE STREET GROUP, LLC | Added | $59.4m2.0m shares |
| Walleye Trading LLC | Added | $57.3m1.9m shares |
| Twin Tree Management, LP | Added | $44.4m1.5m shares |
| PEAK6 LLC | Added | $36.9m1.2m shares |
| CITADEL ADVISORS LLC | Reduced | $36.2m1.2m shares |
| MAPLELANE CAPITAL, LLC | New | $36.0m1.2m shares |
| SIMPLEX TRADING, LLC | Added | $30.1m1.0m shares |
| RIT CAPITAL PARTNERS PLC | Unchanged | $30.0m1.0m shares |
Biggest puts
| Twin Tree Management, LP | Added | $78.0m2.6m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $35.4m1.2m shares |
| GOLDMAN SACHS GROUP INC | Reduced | $29.5m986.2k shares |
| Walleye Trading LLC | Added | $26.4m881.2k shares |
| CloudAlpha Capital Management Limited/Hong Kong | New | $22.5m750.0k shares |
| PEAK6 LLC | Added | $21.1m705.4k shares |
| CITADEL ADVISORS LLC | Added | $14.0m467.0k shares |
| SIMPLEX TRADING, LLC | Added | $11.6m388.0k shares |
| IMC-Chicago, LLC | Added | $10.8m361.2k shares |
| Point72 Asset Management, L.P. | Reduced | $9.9m329.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| SB INVESTMENT ADVISERS (UK) LTD 13G · exempt (held before listing) -1.4 pts · filed 2025-11-14 | 17.3% |
| Kim Bom 13G · exempt (held before listing) filed 2025-02-14 | 9.1% |
Fell to 5% or below in the last year: BAILLIE GIFFORD & CO (4.8%, 2026-08-04)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 1 | $99.9k | — |
| Q4 2023 | 0 | — | 1 | $93.8k | — |
| Q1 2024 | 0 | — | 5 | $33.5m | — |
| Q2 2024 | 1 | $20.4m | 4 | $15.7m | — |
| Q3 2024 | 1 | $39.3m | 3 | $9.6m | — |
| Q4 2024 | 1 | $54.6m | 2 | $345.0m | $344.6m |
| Q1 2025 | 0 | — | 5 | $15.3m | $1.7m |
| Q2 2025 | 1 | $37.5m | 5 | $20.2m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-06-13 | SVF Investments (UK) Ltd +1 10% owner · See footnote | Sold | $282.5m10.0m shares |
| 2025-05-29 | Anand Gaurav Chief Financial Officer | Sold | $4.9m175.0k shares |
| 2025-05-28 | Sun Benjamin Director · By Sun Brothers LLC | Sold | $5.7m200.0k shares |
| 2025-05-15 | GREENOAKS CAPITAL PARTNERS LLC +1 Director · See Footnotes | Bought | $17.5m650.0k shares |
| 2025-05-14 | GREENOAKS CAPITAL PARTNERS LLC +1 Director · See Footnotes | Bought | $20.1m750.0k shares |
| 2025-05-12 | Anand Gaurav Chief Financial Officer | Sold | $2.0m75.3k shares |
| 2025-05-08 | SVF Investments (UK) Ltd +1 10% owner · See footnote | Sold | $772.5m30.0m shares |
| 2025-05-08 | Sun Benjamin Director · By Sun Brothers LLC | Sold | $5.2m200.0k shares |
| 2025-05-08 | Kang Hanseung Rep Director, Business Mngmt | Sold | $1.8m69.9k shares |
| 2025-05-08 | Lee Jonathan D. Chief Accounting Officer | Sold | $212.1k8.1k shares |
| 2025-05-08 | Kolari Pranam VP, Search and Recommendations | Sold | $177.4k6.8k shares |
| 2025-05-02 | Kolari Pranam VP, Search and Recommendations | Sold | $222.9k9.3k shares |
| 2025-04-02 | Kolari Pranam VP, Search and Recommendations | Sold | $14.8k675 shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| SB INVESTMENT ADVISERS (UK) LTD 73.52% of their portfolio | 309.5m $9.3bn | Reduced -40.0m |
| BAILLIE GIFFORD & CO 3.60% of their portfolio | 160.9m $4.8bn | Added +5.6m |
| MORGAN STANLEY 0.14% of their portfolio | 69.3m $2.1bn | Reduced -1.5m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.22% of their portfolio | 64.5m $1.9bn | Reduced -3.2m |
| WCM INVESTMENT MANAGEMENT, LLC 3.46% of their portfolio | 49.2m $1.5bn | Reduced -494.8k |
| Dodge & Cox 0.78% of their portfolio | 46.6m $1.4bn | Added +5.8m |
| BlackRock, Inc. 0.02% of their portfolio | 35.6m $1.1bn | Added +2.1m |
| FMR LLC 0.06% of their portfolio | 33.9m $1.0bn | Added +1.8m |
| Capital International Investors 0.16% of their portfolio | 31.7m $950.7m | Added +422.4k |
| Durable Capital Partners LP 5.61% of their portfolio | 24.7m $741.3m | Added +1.7m |
| MASSACHUSETTS INSTITUTE OF TECHNOLOGY 69.46% of their portfolio | 23.1m $691.4m | Reduced -5.6m |
| Dragoneer Investment Group, LLC 12.78% of their portfolio | 20.9m $626.0m | Reduced -4.9m |
| NORGES BANK 0.07% of their portfolio | 19.6m $587.2m | Added +1.5m |
| Holocene Advisors, LP 1.16% of their portfolio | 15.7m $470.1m | Added +3.1m |
| STATE STREET CORP 0.02% of their portfolio | 15.6m $468.6m | Added +1.2m |
| GREENOAKS LLC 17.30% of their portfolio | 15.4m $460.7m | Added +1.5m |
| TIGER GLOBAL MANAGEMENT LLC 1.19% of their portfolio | 13.6m $407.0m | Added +257.3k |
| D. E. Shaw & Co., Inc. 0.40% of their portfolio | 13.4m $402.9m | Added +7.8m |
| ABRAMS CAPITAL MANAGEMENT, L.P. 6.38% of their portfolio | 13.0m $390.0m | Unchanged |
| Fiduciary Trust Co 4.69% of their portfolio | 12.7m $380.8m | Reduced -262.7k |
| HRTG GPE, LLC 43.09% of their portfolio | 12.1m $362.7m | Reduced -4.0m |
| SANDS CAPITAL MANAGEMENT, LLC 1.03% of their portfolio | 12.0m $359.5m | Reduced -80.8k |
| TWO SIGMA ADVISERS, LP 0.72% of their portfolio | 11.8m $352.3m | Added +6.2m |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 11.7m $349.3m | Added +4.6m |
| Altimeter Capital Management, LP 4.94% of their portfolio | 11.4m $342.5m | Added +4.0m |
| Foxhaven Asset Management, LP 7.96% of their portfolio | 11.0m $329.8m | Unchanged |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.10% of their portfolio | 10.9m $326.5m | Added +2.2m |
| HMI Capital Management, L.P. 16.09% of their portfolio | 9.5m $283.4m | Reduced -1.9m |
| GATES FOUNDATION TRUST 0.58% of their portfolio | 9.2m $277.1m | Unchanged |
| Kontiki Capital Management (HK) Ltd. 13.48% of their portfolio | 7.9m $236.1m | Added +671.3k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 7.9m $236.0m | Added +1.2m |
| SCGE MANAGEMENT, L.P. 4.88% of their portfolio | 7.8m $232.7m | Unchanged |
| Dorsal Capital Management, LP 6.23% of their portfolio | 7.3m $218.7m | Added +300.0k |
| TWO SIGMA INVESTMENTS, LP 0.39% of their portfolio | 7.2m $217.0m | Added +6.1m |
| EMINENCE CAPITAL, LP 3.02% of their portfolio | 6.8m $204.8m | New |
| VANGUARD GROUP INC 0.00% of their portfolio | 6.4m $193.2m | Added +709.4k |
| MARSHALL WACE, LLP 0.23% of their portfolio | 6.4m $190.6m | Added +3.4m |
| NORTHERN TRUST CORP 0.03% of their portfolio | 6.1m $182.5m | Reduced -180.1k |
| Davis Selected Advisers 0.92% of their portfolio | 5.8m $172.4m | Reduced -126.0k |
| Coronation Fund Managers Ltd. 9.32% of their portfolio | 5.7m $171.9m | Reduced -1.8m |
| RENAISSANCE TECHNOLOGIES LLC 0.23% of their portfolio | 5.7m $169.8m | Added +305.0k |
| WELLINGTON MANAGEMENT GROUP LLP 0.03% of their portfolio | 5.3m $159.7m | Reduced -1.8m |
| BAMCO INC /NY/ 0.38% of their portfolio | 4.7m $140.3m | Reduced -828.2k |
| Palestra Capital Management LLC 3.97% of their portfolio | 4.5m $133.9m | New |
| AMERICAN CENTURY COMPANIES INC 0.07% of their portfolio | 4.3m $130.1m | Added +3.2m |
| Point72 Asset Management, L.P. 0.30% of their portfolio | 4.3m $128.8m | Added +622.1k |
| PointState Capital LP 2.71% of their portfolio | 4.2m $126.9m | Reduced -5.6m |
| Duquesne Family Office LLC 3.14% of their portfolio | 4.1m $123.0m | Reduced -5.2m |
| CITADEL ADVISORS LLC 0.10% of their portfolio | 4.0m $119.3m | Added +3.1m |
| Ninety One UK Ltd 0.27% of their portfolio | 3.9m $115.5m | Added +664.5k |
| Legal & General Group Plc 0.03% of their portfolio | 3.8m $113.5m | Added +351.0k |
| Assenagon Asset Management S.A. 0.18% of their portfolio | 3.7m $111.6m | Added +373.0k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 3.6m $107.3m | Added +933.3k |
| Whale Rock Capital Management LLC 1.48% of their portfolio | 3.6m $106.6m | New |
| UBS Group AG 0.02% of their portfolio | 3.3m $100.1m | Added +1.0m |
| Tree Line Advisors (Hong Kong) Ltd. 25.74% of their portfolio | 3.3m $98.9m | Unchanged |
| Nuveen, LLC 0.03% of their portfolio | 3.2m $97.1m | Reduced -214.9k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 3.2m $96.0m | Added +2.4m |
| Nellore Capital Management LLC 10.75% of their portfolio | 3.2m $95.9m | Added +229.6k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 3.0m $90.0m | Added +372.6k |
| Capital World Investors 0.01% of their portfolio | 2.7m $81.9m | Added +649 |
| MANE GLOBAL CAPITAL MANAGEMENT LP 3.71% of their portfolio | 2.7m $81.4m | Added +884.8k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 2.7m $81.2m | Reduced -231.2k |
| Russell Investments Group, Ltd. 0.10% of their portfolio | 2.5m $75.9m | Reduced -131.8k |
| LONG WALK MANAGEMENT LP 19.12% of their portfolio | 2.5m $75.5m | Added +104.1k |
| Qube Research & Technologies Ltd 0.10% of their portfolio | 2.3m $69.5m | Added +1.9m |
| Capital International, Inc./CA/ 0.65% of their portfolio | 2.2m $66.7m | Added +263.2k |
| FEDERATED HERMES, INC. 0.12% of their portfolio | 2.2m $66.2m | Added +1.3m |
| Two Creeks Capital Management, LP 4.39% of their portfolio | 2.2m $66.1m | Reduced -843.6k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.05% of their portfolio | 2.2m $65.9m | Added +1.9m |
| SEI INVESTMENTS CO 0.08% of their portfolio | 2.2m $65.3m | Added +270.3k |
| California Public Employees Retirement System 0.04% of their portfolio | 2.1m $63.3m | Added +615.2k |
| MAVERICK CAPITAL LTD 0.97% of their portfolio | 2.1m $63.0m | Reduced -76.4k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 2.1m $62.0m | Reduced -238.1k |
| ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio | 2.1m $61.5m | Added +18.2k |
| Mitsubishi UFJ Trust & Banking Corp 0.13% of their portfolio | 1.9m $56.3m | Added +5.3k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 1.8m $54.0m | Reduced -219.0k |
| RHUMBLINE ADVISERS 0.05% of their portfolio | 1.8m $52.8m | Reduced -110.2k |
| Jain Global LLC 0.81% of their portfolio | 1.7m $52.3m | New |
| Whitebark Investors LP 14.23% of their portfolio | 1.7m $52.0m | Added +1.1m |
| AustralianSuper Pty Ltd 0.26% of their portfolio | 1.7m $51.3m | New |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 1.7m $50.4m | Added +360.5k |
| RIT CAPITAL PARTNERS PLC 6.73% of their portfolio | 1.6m $48.2m | Reduced -90.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 1.6m $47.2m | Added +292.4k |
| NEUBERGER BERMAN GROUP LLC 0.04% of their portfolio | 1.6m $46.5m | Added +1.5m |
| STEADFAST CAPITAL MANAGEMENT LP 0.85% of their portfolio | 1.5m $45.9m | New |
| TREMBLANT CAPITAL GROUP 4.11% of their portfolio | 1.4m $42.5m | Added +206.2k |
| Allen Investment Management, LLC 0.46% of their portfolio | 1.4m $42.5m | Added +373.3k |
| MIC Capital Management UK LLP 8.31% of their portfolio | 1.4m $42.3m | Unchanged |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.16% of their portfolio | 1.3m $40.2m | Reduced -3.6m |
| CANADA PENSION PLAN INVESTMENT BOARD 0.03% of their portfolio | 1.3m $39.6m | Added +443.9k |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 1.3m $39.1m | Reduced -2.5m |
| Squarepoint Ops LLC 0.09% of their portfolio | 1.3m $38.9m | New |
| VOYA INVESTMENT MANAGEMENT LLC 0.04% of their portfolio | 1.3m $38.2m | Added +89.4k |
| Bain Capital Public Equity Management II, LLC 1.78% of their portfolio | 1.3m $37.5m | Reduced -216.2k |
| 3G Capital Partners LP 9.19% of their portfolio | 1.2m $37.5m | Reduced -100.0k |
| Invesco Ltd. 0.01% of their portfolio | 1.2m $36.9m | Reduced -591.1k |
| Park West Asset Management LLC 2.78% of their portfolio | 1.2m $36.4m | New |
| NATIXIS ADVISORS, LLC 0.06% of their portfolio | 1.2m $36.3m | Added +671.7k |
| UNTITLED INVESTMENTS LP 9.82% of their portfolio | 1.2m $35.9m | Reduced -248.9k |