Vault-13

DINGDONG CAYMAN LTD DDL

ADS · ADR · CUSIP 25445D101

56 institutional holders +3 vs Q3 2025
69,266,73069.3m shares reported held*
$176.0mreported value*
11 new 10 added 22 reduced 8 sold out net sold ≈ $4.6m (-2.9m shares)

* 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 ≈ $2.54. Options: 4 managers hold calls ($1.2m notional), 4 hold puts ($208.9k).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 27Q4 22: 40Q1 23: 47Q2 23: 42Q3 23: 43Q4 23: 41Q1 24: 39Q2 24: 34Q3 24: 50Q4 24: 67Q1 25: 60Q2 25: 59Q3 25: 53Q4 25: 5656Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202227
Q4 202240
Q1 202347
Q2 202342
Q3 202343
Q4 202341
Q1 202439
Q2 202434
Q3 202450
Q4 202467
Q1 202560
Q2 202559
Q3 202553
Q4 202556

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
50050Q1 24: 18 bought or addedQ1 24: 18 cut or sold outQ2 24: 13 bought or addedQ2 24: 21 cut or sold outQ2 24Q3 24: 33 bought or addedQ3 24: 10 cut or sold outQ4 24: 46 bought or addedQ4 24: 17 cut or sold outQ4 24Q1 25: 24 bought or addedQ1 25: 32 cut or sold outQ2 25: 27 bought or addedQ2 25: 32 cut or sold outQ2 25Q3 25: 19 bought or addedQ3 25: 31 cut or sold outQ4 25: 21 bought or addedQ4 25: 30 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20241818
Q2 20241321
Q3 20243310
Q4 20244617
Q1 20252432
Q2 20252732
Q3 20251931
Q4 20252130

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5mQ1 25 calls: $133.0kQ1 25 puts: $277.0kQ1 25P/C 2.08Q2 25 calls: $954.3kQ2 25 puts: $134.7kQ2 25P/C 0.14Q3 25 calls: $706.9kQ3 25 puts: $49.1kQ3 25P/C 0.07Q4 25 calls: $1.2mQ4 25 puts: $208.9kQ4 25P/C 0.18
Numbers
QuarterCallsPutsP/C
Q1 2025$133.0k$277.0k2.08
Q2 2025$954.3k$134.7k0.14
Q3 2025$706.9k$49.1k0.07
Q4 2025$1.2m$208.9k0.18

Biggest buyers

MORGAN STANLEY Added +1,350,775+1.4m
NOMURA HOLDINGS INC New +500,000+500.0k
ACADIAN ASSET MANAGEMENT LLC Added +347,390+347.4k
HSBC HOLDINGS PLC New +321,364+321.4k
Allspring Global Investments Holdings, LLC Added +230,000+230.0k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +96,480+96.5k
Virtu Financial LLC New +70,371+70.4k
MANGROVE PARTNERS IM, LLC New +53,141+53.1k
WELLS FARGO & COMPANY/MN New +50,000+50.0k
TWO SIGMA INVESTMENTS, LP Added +41,898+41.9k

Biggest sellers

HSG Holding Ltd Reduced -1,049,327-1.0m
JPMORGAN CHASE & CO Reduced -744,621-744.6k
Walleye Capital LLC Sold out -511,458-511.5k
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Reduced -503,988-504.0k
Man Group plc Sold out -474,868-474.9k
RENAISSANCE TECHNOLOGIES LLC Reduced -411,709-411.7k
MARSHALL WACE, LLP Reduced -339,293-339.3k
GSA CAPITAL PARTNERS LLP Sold out -304,692-304.7k
Harvest Fund Management Co., Ltd Sold out -302,680-302.7k
Qube Research & Technologies Ltd Reduced -232,646-232.6k

Biggest calls

SIMPLEX TRADING, LLC Added $696.5k279.7k shares
GROUP ONE TRADING LLC Added $330.9k132.9k shares
JANE STREET GROUP, LLC Reduced $112.8k45.3k shares
CITADEL ADVISORS LLC Reduced $27.9k11.2k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $122.8k49.3k shares
CITADEL ADVISORS LLC New $55.8k22.4k shares
SIMPLEX TRADING, LLC Added $18.2k7.3k shares
GROUP ONE TRADING LLC Reduced $12.2k4.9k 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.

Insider purchases and sales in Q4 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.

None reported in Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Capital Today Evergreen Fund, L.P. 13.67% of their portfolio Grand Cayman, E9 11,879,33211.9m $29.6m $29.6m 13.67% Unchanged
2 Galileo (PTC) Ltd 2.13% of their portfolio Washington, DC 11,716,13011.7m $29.2m $29.2m 2.13% Unchanged
3 HSG Holding Ltd 1.52% of their portfolio NA, K3 10,091,83910.1m $28.7m $28.7m 1.52% Reduced -1.0m -1,049,327
4 Boundless Plain Holdings Ltd 6.34% of their portfolio HONG KONG, K3 7,989,0018.0m $19.9m $19.9m 6.34% First filing
5 PLATINUM INVESTMENT MANAGEMENT LTD 3.72% of their portfolio SYDNEY AUSTRALIA 2000, C3 6,460,8896.5m $16.1m $16.1m 3.72% Reduced -216.9k -216,857
6 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 4,392,3954.4m $10.9m $10.9m 0.00% Reduced -119.0k -119,048
7 Connor, Clark & Lunn Investment Management Ltd. 0.02% of their portfolio VANCOUVER, A1 3,112,1823.1m $7.7m $7.7m 0.02% Reduced -5.6k -5,621
8 Allspring Global Investments Holdings, LLC 0.01% of their portfolio CHARLOTTE, NC 3,020,2443.0m $7.5m $7.5m 0.01% Added +230.0k +230,000
9 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 2,166,8242.2m $5.4m $5.4m 0.00% Added +1.4m +1,350,775
10 ACADIAN ASSET MANAGEMENT LLC 0.01% of their portfolio Boston, MA 1,290,2891.3m $3.2m $3.2m 0.01% Added +347.4k +347,390
11 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 1,203,8001.2m $3.0m $3.0m 0.00% Reduced -411.7k -411,709
12 SOFTBANK GROUP CORP. 0.02% of their portfolio TOKYO, M0 1,050,0001.1m $2.6m $2.6m 0.02% Unchanged
13 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 719,359719.4k $1.8m $1.8m 0.00% Reduced -504.0k -503,988
14 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 538,715538.7k $1.3m $1.3m 0.00% Reduced -339.3k -339,293
15 NOMURA HOLDINGS INC 0.00% of their portfolio TOKYO, M0 500,000500.0k $1.2m $1.2m 0.00% New
16 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 321,364321.4k $800.2k $800.2k 0.00% New
17 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 307,416307.4k $765.5k $765.5k 0.00% Reduced -232.6k -232,646
18 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 284,683284.7k $708.9k $708.9k 0.00% Reduced -218.7k -218,661
19 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 275,642275.6k $686.3k $686.3k 0.00% Added +16.0k +16,034
20 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 273,999274.0k $682.3k $682.3k 0.00% Reduced -744.6k -744,621
21 UBS Group AG 0.00% of their portfolio ZURICH, V8 238,637238.6k $594.2k $594.2k 0.00% Added +3.5k +3,508
22 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio COLUMBUS, OH 223,125223.1k $555.6k $555.6k 0.00% Unchanged
23 California Public Employees Retirement System 0.00% of their portfolio Sacramento, CA 168,745168.7k $420.2k $420.2k 0.00% Reduced -95 -95
24 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 141,263141.3k $351.7k $351.7k 0.00% Unchanged
25 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 124,560124.6k $310.2k $310.2k 0.00% Reduced -66.6k -66,586
26 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 123,509123.5k $307.5k $307.5k 0.00% Added +96.5k +96,480
27 Susquehanna Portfolio Strategies, LLC 0.00% of their portfolio Bala Cynwyd, PA 110,112110.1k $274.2k $274.2k 0.00% Reduced -23.0k -22,970
28 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 103,467103.5k $257.6k $257.6k 0.00% Reduced -5.2k -5,249
29 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 85,09885.1k $211.9k $211.9k 0.00% Added +41.9k +41,898
30 Virtu Financial LLC 0.01% of their portfolio New York, NY 70,37170.4k $175.0k $175.0k 0.01% New
31 MANGROVE PARTNERS IM, LLC 0.01% of their portfolio Greenwich, CT 53,14153.1k $132.3k $132.3k 0.01% New
32 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 50,00050.0k $124.5k $124.5k 0.00% New
33 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 48,80048.8k $121.5k $121.5k 0.00% Reduced -174.5k -174,500
34 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 27,73927.7k $69.1k $69.1k 0.00% Added +1.0k +1,005
35 Point72 Asset Management, L.P. 0.00% of their portfolio STAMFORD, CT 22,03022.0k $54.9k $54.9k 0.00% New
36 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 17,73017.7k $44.1k $44.1k 0.00% Reduced -27.4k -27,431
37 Belvedere Trading LLC 0.01% of their portfolio CHICAGO, IL 16,21716.2k $40.4k $40.4k 0.01% New
38 QRG CAPITAL MANAGEMENT, INC. 0.00% of their portfolio BERWYN, PA 15,48915.5k $38.6k $38.6k 0.00% Added +4.6k +4,618
39 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 13,00513.0k $32.4k $32.4k 0.00% Unchanged
40 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 6,1436.1k $15.3k $15.3k 0.00% Unchanged
41 Oakum Bay Capital LLC 0.01% of their portfolio WESTPORT, CT 6,0006.0k $14.9k $14.9k 0.01% First filing
42 JNBA Financial Advisors 0.00% of their portfolio BLOOMINGTON, MN 2,3582.4k $5.9k $5.9k 0.00% New
43 WealthCollab, LLC 0.00% of their portfolio BELLEVUE, WA 1,3991.4k $3.5k $3.5k 0.00% New
44 Strategic Investment Solutions, Inc. /IL 0.00% of their portfolio ORLAND PARK, IL 1,0001.0k $2.5k $2.5k 0.00% New
45 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 705705 $1.8k $1.8k 0.00% Reduced -50 -50
46 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 628628 $1.6k $1.6k 0.00% Reduced -173.7k -173,659
47 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 509509 $1.0k $1.0k 0.00% Reduced -8 -8
48 Bell Investment Advisors, Inc 0.00% of their portfolio ORINDA, CA 341341 $850 $850 0.00% Unchanged
49 GROUP ONE TRADING LLC 0.00% of their portfolio CHICAGO, IL 160160 $398 $398 0.00% Reduced -2.2k -2,183
50 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 121121 $301 $301 0.00% Reduced -384 -384
51 IMA Advisory Services, Inc. 0.00% of their portfolio DENVER, CO 110110 $273 $273 0.00% New
52 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 7676 $189 $189 0.00% Reduced -1.9k -1,875
53 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 3737 $92 $92 0.00% Added +1 +1
54 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 11 $2 $2 0.00% Unchanged
55 Caitong International Asset Management Co., Ltd 0.00% of their portfolio HONG KONG, K3 11 $2 $2 0.00% Unchanged
56 DV EQUITIES, LLC 0.00% of their portfolio CHICAGO, IL 00 $0 $0 0.00% First filing