D MARKET ELECTR SVCS & TRADI HEPS
SPONSORED ADS · ADR · CUSIP 23292B104 · ISIN US23292B1044
Internet shopping site
- SectorConsumer discretionary
- IndustryRetail-Catalog & Mail-Order Houses
- HeadquartersTurkey
- Websitehepsiburada.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. Holder counts are more reliable. Implied quarter-end price ≈ $2.91. Options: 2 managers hold calls ($761.5k notional), 1 hold puts ($141.7k).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 32 |
| Q4 2022 | 35 |
| Q1 2023 | 35 |
| Q2 2023 | 41 |
| Q3 2023 | 37 |
| Q4 2023 | 36 |
| Q1 2024 | 34 |
| Q2 2024 | 42 |
| Q3 2024 | 42 |
| Q4 2024 | 47 |
| Q1 2025 | 41 |
| Q2 2025 | 42 |
| Q3 2025 | 43 |
| Q4 2025 | 32 |
| Q1 2026 | 30 |
| Q2 2026 | 32 |
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 2024 | 23 | 20 |
| Q4 2024 | 25 | 23 |
| Q1 2025 | 20 | 31 |
| Q2 2025 | 20 | 19 |
| Q3 2025 | 24 | 24 |
| Q4 2025 | 14 | 25 |
| Q1 2026 | 15 | 18 |
| Q2 2026 | 14 | 19 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $27.2k | $0 | 0.00 |
| Q4 2025 | $121.5k | $0 | 0.00 |
| Q1 2026 | $68.6k | $157.2k | 2.29 |
| Q2 2026 | $761.5k | $141.7k | 0.19 |
Biggest buyers
| VR Advisory Services Ltd | Added | +2.9m |
| 683 Capital Management, LLC | New | +500.0k |
| MORGAN STANLEY | Added | +69.8k |
| CITADEL ADVISORS LLC | New | +69.8k |
| GSA CAPITAL PARTNERS LLP | New | +57.4k |
| AXQ CAPITAL, LP | New | +17.3k |
| BARCLAYS PLC | New | +4.0k |
| NORTHERN TRUST CORP | Added | +3.0k |
| SIMPLEX TRADING, LLC | New | +1.1k |
| RHUMBLINE ADVISERS | Added | +160 |
Biggest sellers
| BlackRock, Inc. | Sold out | -2.7m |
| GAM Holding AG | Reduced | -200.0k |
| GEODE CAPITAL MANAGEMENT, LLC | Reduced | -106.8k |
| XTX Topco Ltd | Sold out | -71.3k |
| JANE STREET GROUP, LLC | Sold out | -61.0k |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | -33.5k |
| UBS Group AG | Reduced | -25.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -14.8k |
| STATE STREET CORP | Reduced | -13.2k |
| IEQ CAPITAL, LLC | Sold out | -10.3k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $760.7k261.4k shares |
| SIMPLEX TRADING, LLC | Unchanged | $873300 shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $141.7k48.7k 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 |
|---|---|
Joint Stock Co Kaspi.kz
13D · may seek influence
+4.6 pts · filed 2026-09-15
Stated purposeThe disclosure in Item 4 of the Schedule 13D, as amended, is hereby supplemented by adding the following: The information set forth in Item 3 of this Amendment No. 10 is incorporated by reference into this Item 4. Full filing |
93.5% |
| VR Advisory Services Ltd 13G · institution +0.6 pts · filed 2026-06-18 | 5.2% |
| VR Global Partners, L.P. 13G · institution new · filed 2025-12-02 | 5.0% |
Fell to 5% or below in the last year: TurkCommerce B.V. (0.0%, 2026-02-25)
Insider purchases and sales since 1 Apr 2026
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.
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| VR Advisory Services Ltd 5.01% of their portfolio | 19.4m $56.4m | Added +2.9m |
| STATE STREET CORP 0.00% of their portfolio | 2.3m $6.8m | Reduced -13.2k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 838.2k $2.4m | Reduced -33.5k |
| UBS Group AG 0.00% of their portfolio | 788.2k $2.3m | Reduced -25.4k |
| MORGAN STANLEY 0.00% of their portfolio | 592.5k $1.7m | Added +69.8k |
| 683 Capital Management, LLC 0.13% of their portfolio | 500.0k $1.5m | New |
| Rangeley Capital, LLC 0.54% of their portfolio | 200.0k $582.0k | Unchanged |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.00% of their portfolio | 159.8k $465.0k | Unchanged |
| GAM Holding AG 0.03% of their portfolio | 130.0k $378.3k | Reduced -200.0k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 120.4k $350.3k | Reduced -933 |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 69.8k $203.2k | New |
| Aberdeen Group plc 0.00% of their portfolio | 68.5k $199.4k | Reduced -5.7k |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 68.0k $197.9k | Reduced -975 |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 66.7k $194.0k | Reduced -106.8k |
| GSA CAPITAL PARTNERS LLP 0.01% of their portfolio | 57.4k $167.0k | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 33.9k $98.8k | Reduced -14.8k |
| GAMMA Investing LLC 0.00% of their portfolio | 31.3k $91.2k | Added +156 |
| JBF Capital, Inc. 0.01% of their portfolio | 30.9k $90.1k | Unchanged |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 29.6k $86.2k | Reduced -10.1k |
| Capricorn Fund Managers Ltd 0.01% of their portfolio | 29.2k $84.9k | Unchanged |
| AXQ CAPITAL, LP 0.01% of their portfolio | 17.3k $50.2k | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 17.3k $50.2k | Added +3.0k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 14.2k $41.4k | Added +160 |
| FMR LLC 0.00% of their portfolio | 14.0k $40.9k | Reduced -6.8k |
| Vident Advisory, LLC 0.00% of their portfolio | 12.6k $36.6k | Reduced -78 |
| SBI Securities Co., Ltd. 0.00% of their portfolio | 4.3k $12.6k | Reduced -810 |
| BARCLAYS PLC 0.00% of their portfolio | 4.0k $11.6k | New |
| SIMPLEX TRADING, LLC 0.00% of their portfolio | 1.1k $3.3k | New |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 200 $580 | Unchanged |
| Arax Advisory Partners 0.00% of their portfolio | 63 $183 | New |
| Caitong International Asset Management Co., Ltd 0.00% of their portfolio | 13 $38 | Added +11 |
| Quarry LP 0.00% of their portfolio | 4 $12 | New |