Vault-13

GDS HLDGS LTD GDS

SPONSORED ADS · ADR · CUSIP 36165L108 · ISIN US36165L1089

GDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China.

163 institutional holders +7 vs Q1 2025
81,316,48681.3m shares reported held*
$2.5bnreported value*
38 new 55 added 46 reduced 33 sold out net bought ≈ $160.5m (+5.2m 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 ($130.4k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $30.55. Options: 19 managers hold calls ($119.2m notional), 14 hold puts ($54.2m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 135Q4 22: 146Q1 23: 136Q2 23: 120Q3 23: 103Q4 23: 107Q1 24: 107Q2 24: 109Q3 24: 139Q4 24: 138Q1 25: 156Q2 25: 163163Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022135
Q4 2022146
Q1 2023136
Q2 2023120
Q3 2023103
Q4 2023107
Q1 2024107
Q2 2024109
Q3 2024139
Q4 2024138
Q1 2025156
Q2 2025163

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q3 23: 46 bought or addedQ3 23: 57 cut or sold outQ4 23: 42 bought or addedQ4 23: 56 cut or sold outQ4 23Q1 24: 58 bought or addedQ1 24: 51 cut or sold outQ2 24: 49 bought or addedQ2 24: 56 cut or sold outQ2 24Q3 24: 80 bought or addedQ3 24: 46 cut or sold outQ4 24: 66 bought or addedQ4 24: 68 cut or sold outQ4 24Q1 25: 74 bought or addedQ1 25: 80 cut or sold outQ2 25: 93 bought or addedQ2 25: 79 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20234657
Q4 20234256
Q1 20245851
Q2 20244956
Q3 20248046
Q4 20246668
Q1 20257480
Q2 20259379

Calls vs puts

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

CallsPuts
$0$50m$100m$150mQ3 24 calls: $52.5mQ3 24 puts: $15.1mQ3 24P/C 0.29Q4 24 calls: $74.2mQ4 24 puts: $10.9mQ4 24P/C 0.15Q1 25 calls: $62.1mQ1 25 puts: $36.5mQ1 25P/C 0.59Q2 25 calls: $119.2mQ2 25 puts: $54.2mQ2 25P/C 0.45
Numbers
QuarterCallsPutsP/C
Q3 2024$52.5m$15.1m0.29
Q4 2024$74.2m$10.9m0.15
Q1 2025$62.1m$36.5m0.59
Q2 2025$119.2m$54.2m0.45

Biggest buyers

CANADA PENSION PLAN INVESTMENT BOARD Added +3,062,658+3.1m
Sachem Head Capital Management LP Added +2,664,485+2.7m
Triata Capital Ltd Added +1,481,595+1.5m
Aspex Management (HK) Ltd Added +1,397,073+1.4m
Alyeska Investment Group, L.P. Added +1,030,560+1.0m
LIGHT STREET CAPITAL MANAGEMENT, LLC New +714,582+714.6k
Burkehill Global Management, LP New +700,000+700.0k
Ghisallo Capital Management LLC New +600,000+600.0k
JANE STREET GROUP, LLC Added +545,702+545.7k
MY.Alpha Management HK Advisors Ltd New +466,900+466.9k

Biggest sellers

Driehaus Capital Management LLC Reduced -1,544,803-1.5m
INDUS CAPITAL PARTNERS, LLC Sold out -1,342,258-1.3m
UBS Group AG Reduced -1,067,231-1.1m
MARSHALL WACE, LLP Reduced -1,059,590-1.1m
BAUPOST GROUP LLC/MA Reduced -1,000,000-1.0m
D. E. Shaw & Co., Inc. Reduced -766,436-766.4k
LORD, ABBETT & CO. LLC Sold out -704,673-704.7k
TWO SIGMA INVESTMENTS, LP Sold out -656,925-656.9k
Point72 Asset Management, L.P. Sold out -494,976-495.0k
FMR LLC Reduced -422,148-422.1k

Biggest calls

MAPLELANE CAPITAL, LLC New $40.5m1.3m shares
PEAK6 LLC Added $17.6m577.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $15.5m506.7k shares
JANE STREET GROUP, LLC Added $12.1m396.5k shares
CITADEL ADVISORS LLC Added $7.6m248.7k shares
SIMPLEX TRADING, LLC Reduced $5.1m165.4k shares
Caption Management, LLC Added $4.1m132.5k shares
GOLDMAN SACHS GROUP INC New $3.7m120.4k shares
IMC-Chicago, LLC Added $3.3m107.0k shares
GROUP ONE TRADING LLC Reduced $3.3m106.7k shares

Biggest puts

NATIONAL BANK OF CANADA /FI/ New $11.3m3.7k shares
JANE STREET GROUP, LLC Added $9.1m298.3k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $8.9m290.7k shares
LMR Partners LLP New $6.0m196.7k shares
GROUP ONE TRADING LLC Added $4.4m145.0k shares
Walleye Trading LLC Added $3.4m112.3k shares
SIMPLEX TRADING, LLC Added $2.8m90.9k shares
CITADEL ADVISORS LLC Reduced $2.5m80.8k shares
MILLENNIUM MANAGEMENT LLC New $2.4m80.0k shares
IMC-Chicago, LLC Reduced $1.4m46.6k 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.

HolderStakeChangeShares Last filed
SINGAPORE TECHNOLOGIES TELEMEDIA PTE LTD 13D · may seek influence -5.5 pts · filed 2025-09-10 28.7% -5.5 pts 445.3m 2025-09-10
GIC Private Ltd 13G · passive investor -3.7 pts · filed 2026-08-13 7.5% -3.7 pts 126.5m 2026-08-13

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.

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Singapore Technologies Telemedia Pte Ltd 100.00% of their portfolio Singapore, U0 15,835,68015.8m $484.1m $484.1m 100.00% Unchanged
2 CANADA PENSION PLAN INVESTMENT BOARD 0.18% of their portfolio TORONTO ONTARIO, A6 7,004,0837.0m $214.1m $214.1m 0.18% Added +3.1m +3,062,658
3 Sachem Head Capital Management LP 6.57% of their portfolio NEW YORK, NY 6,879,4856.9m $210.3m $210.3m 6.57% Added +2.7m +2,664,485
4 Tekne Capital Management, LLC 66.63% of their portfolio NEW YORK, NY 6,263,4676.3m $191.5m $191.5m 66.63% Added +403.3k +403,256
5 12 West Capital Management LP 15.73% of their portfolio NEW YORK, NY 4,864,4764.9m $148.7m $148.7m 15.73% Unchanged
6 Aspex Management (HK) Ltd 2.93% of their portfolio CENTRAL, K3 4,406,9494.4m $134.7m $134.7m 2.93% Added +1.4m +1,397,073
7 BAUPOST GROUP LLC/MA 2.41% of their portfolio BOSTON, MA 3,249,9523.2m $99.4m $99.4m 2.41% Reduced -1.0m -1,000,000
8 BAMCO INC /NY/ 0.26% of their portfolio NEW YORK, NY 3,153,9083.2m $96.4m $96.4m 0.26% Added +86.5k +86,503
9 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 2,795,2542.8m $85.5m $85.5m 0.01% Added +123.3k +123,346
10 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 2,730,3932.7m $83.5m $83.5m 0.01% Added +95.9k +95,936
11 Triata Capital Ltd 10.61% of their portfolio HONG KONG, K3 1,777,6141.8m $54.3m $54.3m 10.61% Added +1.5m +1,481,595
12 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio Boston, MA 1,204,0061.2m $36.8m $36.8m 0.01% Added +26.5k +26,503
13 Alyeska Investment Group, L.P. 0.13% of their portfolio CHICAGO, IL 1,167,8131.2m $35.7m $35.7m 0.13% Added +1.0m +1,030,560
14 UBS Group AG 0.01% of their portfolio ZURICH, V8 979,192979.2k $29.9m $29.9m 0.01% Reduced -1.1m -1,067,231
15 Cerity Partners LLC 0.05% of their portfolio NEW YORK, NY 967,486967.5k $29.6m $29.6m 0.05% Reduced -11.4k -11,400
16 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 830,885830.9k $25.4m $25.4m 0.01% Reduced -92.1k -92,085
17 JANE STREET GROUP, LLC 0.04% of their portfolio NEW YORK, NY 805,630805.6k $24.6m $24.6m 0.04% Added +545.7k +545,702
18 LIGHT STREET CAPITAL MANAGEMENT, LLC 4.46% of their portfolio Palo Alto, CA 714,582714.6k $21.8m $21.8m 4.46% New
19 Burkehill Global Management, LP 1.58% of their portfolio NEW YORK, NY 700,000700.0k $21.4m $21.4m 1.58% New
20 Pacer Advisors, Inc. 0.05% of their portfolio Malvern, PA 699,479699.5k $21.4m $21.4m 0.05% Added +174.4k +174,372
21 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 621,666621.7k $19.0m $19.0m 0.00% Added +242.4k +242,377
22 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 611,511611.5k $18.7m $18.7m 0.02% Added +101.6k +101,626
23 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.04% of their portfolio CAUSEWAY BAY, K3 601,547601.5k $18.4m $18.4m 0.04% Added +64.9k +64,913
24 NORGES BANK 0.00% of their portfolio OSLO, Q8 600,000600.0k $18.3m $18.3m 0.00% Not comparable
25 Ghisallo Capital Management LLC 0.49% of their portfolio BOSTON, MA 600,000600.0k $18.3m $18.3m 0.49% New
26 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 547,773547.8k $16.7m $16.7m 0.01% Added +254.2k +254,217
27 Aberdeen Group plc 0.03% of their portfolio EDINBURGH, X0 537,175537.2k $16.4m $16.4m 0.03% Added +147.0k +147,028
28 MY.Alpha Management HK Advisors Ltd 10.59% of their portfolio HONG KONG, K3 466,900466.9k $14.3m $14.3m 10.59% New
29 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.03% of their portfolio Paris, I0 438,459438.5k $13.2m $13.2m 0.03% Reduced -249 -249
30 Balyasny Asset Management L.P. 0.03% of their portfolio Chicago, IL 424,255424.3k $13.0m $13.0m 0.03% Reduced -5.8k -5,845
31 APG Asset Management N.V. 0.03% of their portfolio Amsterdam, P7 421,577421.6k $11.0m $11.0m 0.03% Unchanged
32 Carrhae Capital LLP 1.22% of their portfolio London, X0 416,903416.9k $12.7m $12.7m 1.22% New
33 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 380,179380.2k $11.6m $11.6m 0.00% Reduced -72.4k -72,390
34 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 377,400377.4k $11.5m $11.5m 0.00% Added +27.7k +27,700
35 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 369,600369.6k $11.3m $11.3m 0.01% New
36 Waterfront Capital Partners, LLC 2.72% of their portfolio NEW YORK, NY 358,221358.2k $11.0m $11.0m 2.72% Added +283.2k +283,221
37 Eschler Asset Management LLP 8.21% of their portfolio London, X0 355,200355.2k $10.9m $10.9m 8.21% New
38 FMR LLC 0.00% of their portfolio BOSTON, MA 314,654314.7k $9.6m $9.6m 0.00% Reduced -422.1k -422,148
39 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 306,651306.7k $9.4m $9.4m 0.01% Reduced -55.2k -55,214
40 BlackRock, Inc. 0.00% of their portfolio New York, NY 305,781305.8k $9.3m $9.3m 0.00% Reduced -28.4k -28,377
41 Monolith Management Ltd 3.26% of their portfolio HONG KONG, K3 301,872301.9k $9.2m $9.2m 3.26% Added +113.7k +113,735
42 Selkirk Management LLC 2.59% of their portfolio Chatham, NJ 287,000287.0k $8.8m $8.8m 2.59% Unchanged
43 PINNACLE ASSOCIATES LTD 0.12% of their portfolio NEW YORK, NY 260,807260.8k $8.0m $8.0m 0.12% Reduced -2.0k -1,980
44 LMR Partners LLP 0.12% of their portfolio LONDON, X0 247,803247.8k $7.6m $7.6m 0.12% Added +180.0k +180,028
45 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio JUPITER, FL 232,736232.7k $7.1m $7.1m 0.03% Reduced -213.7k -213,681
46 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 230,573230.6k $7.0m $7.0m 0.00% Added +60.3k +60,332
47 Centerbridge Partners, L.P. 1.45% of their portfolio NEW YORK, NY 204,971205.0k $6.3m $6.3m 1.45% Unchanged
48 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 189,414189.4k $5.8m $5.8m 0.01% New
49 Hidden Lake Asset Management LP 2.65% of their portfolio NEW YORK, NY 176,690176.7k $5.4m $5.4m 2.65% Added +92.6k +92,600
50 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 173,999174.0k $5.3m $5.3m 0.00% Added +23.9k +23,948
51 FRED ALGER MANAGEMENT, LLC 0.02% of their portfolio NEW YORK, NY 168,436168.4k $5.1m $5.1m 0.02% New
52 Saba Capital Management, L.P. 0.14% of their portfolio NEW YORK, NY 167,174167.2k $5.1m $5.1m 0.14% Added +13.0k +13,000
53 Polymer Capital Management (HK) LTD 0.71% of their portfolio HONG KONG, K3 147,552147.6k $4.5m $4.5m 0.71% Added +117.6k +117,552
54 Lighthouse Investment Partners, LLC 0.17% of their portfolio Palm Beach Gardens, FL 125,000125.0k $3.8m $3.8m 0.17% New
55 SIH Partners, LLLP 0.35% of their portfolio Wilmington, DE 121,088121.1k $3.7m $3.7m 0.35% New
56 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 98,64098.6k $3.0m $3.0m 0.00% Added +6.5k +6,498
57 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 94,96095.0k $2.9m $2.9m 0.00% Added +18.2k +18,160
58 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 87,35287.4k $2.7m $2.7m 0.00% Reduced -4.8k -4,836
59 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 84,46484.5k $2.6m $2.6m 0.00% Reduced -96.7k -96,689
60 Walleye Capital LLC 0.02% of their portfolio NEW YORK, NY 78,53778.5k $2.4m $2.4m 0.02% Added +37.2k +37,190
61 Y-Intercept (Hong Kong) Ltd 0.06% of their portfolio HONG KONG, K3 78,37378.4k $2.4m $2.4m 0.06% New
62 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 77,23077.2k $2.4m $2.4m 0.00% Reduced -13.0k -13,048
63 Anson Funds Management LP 0.42% of their portfolio DALLAS, TX 75,00075.0k $2.3m $2.3m 0.42% Added +24.2k +24,200
64 Electron Capital Partners, LLC 0.11% of their portfolio NEW YORK, NY 69,44469.4k $2.1m $2.1m 0.11% Reduced -157 -157
65 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 69,26969.3k $2.1m $2.1m 0.00% Reduced -1.1m -1,059,590
66 MAPLELANE CAPITAL, LLC 0.12% of their portfolio New York, NY 65,00065.0k $2.0m $2.0m 0.12% New
67 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 56,55856.6k $1.7m $1.7m 0.00% Added +52.5k +52,525
68 Taikang Asset Management (Hong Kong) Co Ltd 0.22% of their portfolio HONG KONG, K3 55,00055.0k $1.7m $1.7m 0.22% New
69 Driehaus Capital Management LLC 0.01% of their portfolio Chicago, IL 54,00454.0k $1.7m $1.7m 0.01% Reduced -1.5m -1,544,803
70 BAROMETER CAPITAL MANAGEMENT INC. 0.44% of their portfolio TORONTO, A6 52,60052.6k $1.6m $1.6m 0.44% Added +12.0k +12,000
71 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 50,18450.2k $1.5m $1.5m 0.00% Reduced -28.3k -28,252
72 Centiva Capital, LP 0.10% of their portfolio New York, NY 49,10049.1k $1.5m $1.5m 0.10% Added +20.2k +20,191
73 Concentric Capital Strategies, LP 0.08% of their portfolio Stamford, CT 46,98447.0k $1.4m $1.4m 0.08% New
74 Headlands Technologies LLC 0.17% of their portfolio CHICAGO, IL 46,38646.4k $1.4m $1.4m 0.17% Added +31.8k +31,810
75 CastleKnight Management LP 0.09% of their portfolio New York, NY 44,20044.2k $1.4m $1.4m 0.09% Added +16.8k +16,800
76 Future Fund LLC 0.59% of their portfolio CHICAGO, IL 43,59643.6k $1.3m $1.3m 0.59% New
77 DYMON ASIA CAPITAL (SINGAPORE) PTE. LTD. 0.87% of their portfolio Singapore, U0 40,00040.0k $1.2m $1.2m 0.87% Reduced -16.7k -16,700
78 Caption Management, LLC 0.11% of their portfolio OKLAHOMA CITY, OK 40,00040.0k $1.2m $1.2m 0.11% New
79 State of New Jersey Common Pension Fund D 0.00% of their portfolio TRENTON, NJ 36,69436.7k $1.1m $1.1m 0.00% Added +3.7k +3,746
80 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 36,10336.1k $1.1m $1.1m 0.01% New
81 GROUP ONE TRADING LLC 0.03% of their portfolio CHICAGO, IL 29,06629.1k $888.5k $888.5k 0.03% Added +12.6k +12,599
82 BOOTHBAY FUND MANAGEMENT, LLC 0.03% of their portfolio NEW YORK, NY 27,67327.7k $846.0k $846.0k 0.03% New
83 Mariner, LLC 0.00% of their portfolio Overland Park, KS 26,93626.9k $823.4k $823.4k 0.00% Reduced -389 -389
84 One Capital Management, LLC 0.03% of their portfolio WESTLAKE VILLAGE, CA 26,36426.4k $805.9k $805.9k 0.03% New
85 Bayforest Capital Ltd 0.34% of their portfolio LONDON, X0 25,64825.6k $784.1k $784.1k 0.34% Added +1.0k +1,029
86 Hood River Capital Management LLC 0.01% of their portfolio PALM BEACH GARDENS, FL 25,29725.3k $773.3k $773.3k 0.01% New
87 AMIRAL GESTION 0.33% of their portfolio PARIS, I0 25,00025.0k $764.2k $764.2k 0.33% Added +7.0k +7,000
88 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 23,91523.9k $731.1k $731.1k 0.00% Added +1.3k +1,273
89 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 21,85421.9k $668.1k $668.1k 0.00% Reduced -40.7k -40,676
90 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 20,02120.0k $612.0k $612.0k 0.00% Added +10.8k +10,807
91 Capula Management Ltd 0.01% of their portfolio Grand Cayman, E9 20,00020.0k $611.4k $611.4k 0.01% Not comparable
92 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 18,37518.4k $561.7k $561.7k 0.00% Reduced -766.4k -766,436
93 MACROVIEW INVESTMENT MANAGEMENT LLC 0.39% of their portfolio BETHESDA, MD 15,46015.5k $472.6k $472.6k 0.39% Reduced -3.1k -3,090
94 Laird Norton Wetherby Wealth Management, LLC 0.02% of their portfolio Seattle, WA 15,15115.2k $463.2k $463.2k 0.02% First filing
95 Farther Finance Advisors, LLC 0.01% of their portfolio SAN FRANCISCO, CA 14,75914.8k $451.2k $451.2k 0.01% Added +14.5k +14,528
96 Vident Advisory, LLC 0.00% of their portfolio Alpharetta, GA 14,48214.5k $442.7k $442.7k 0.00% Reduced -11.5k -11,541
97 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 14,42514.4k $441.0k $441.0k 0.00% Added +5.5k +5,452
98 Vanguard Personalized Indexing Management, LLC 0.00% of their portfolio OAKLAND, CA 14,11214.1k $431.4k $431.4k 0.00% Added +1.6k +1,641
99 XTX Topco Ltd 0.02% of their portfolio LONDON, X0 13,67613.7k $418.1k $418.1k 0.02% Reduced -25.5k -25,474
100 Itau Unibanco Holding S.A. 0.02% of their portfolio SAO PAULO, D5 13,43813.4k $410.8k $410.8k 0.02% Added +1.5k +1,526