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.
- SectorTechnology
- IndustryServices-Computer Programming, Data Processing, Etc.
- HeadquartersBeijing, People's Republic of China
- Founded2000
- Websitegds-services.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 ($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
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 135 |
| Q4 2022 | 146 |
| Q1 2023 | 136 |
| Q2 2023 | 120 |
| Q3 2023 | 103 |
| Q4 2023 | 107 |
| Q1 2024 | 107 |
| Q2 2024 | 109 |
| Q3 2024 | 139 |
| Q4 2024 | 138 |
| Q1 2025 | 156 |
| Q2 2025 | 163 |
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 | 46 | 57 |
| Q4 2023 | 42 | 56 |
| Q1 2024 | 58 | 51 |
| Q2 2024 | 49 | 56 |
| Q3 2024 | 80 | 46 |
| Q4 2024 | 66 | 68 |
| Q1 2025 | 74 | 80 |
| Q2 2025 | 93 | 79 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $52.5m | $15.1m | 0.29 |
| Q4 2024 | $74.2m | $10.9m | 0.15 |
| Q1 2025 | $62.1m | $36.5m | 0.59 |
| Q2 2025 | $119.2m | $54.2m | 0.45 |
Biggest buyers
| CANADA PENSION PLAN INVESTMENT BOARD | Added | +3.1m |
| Sachem Head Capital Management LP | Added | +2.7m |
| Triata Capital Ltd | Added | +1.5m |
| Aspex Management (HK) Ltd | Added | +1.4m |
| Alyeska Investment Group, L.P. | Added | +1.0m |
| LIGHT STREET CAPITAL MANAGEMENT, LLC | New | +714.6k |
| Burkehill Global Management, LP | New | +700.0k |
| Ghisallo Capital Management LLC | New | +600.0k |
| JANE STREET GROUP, LLC | Added | +545.7k |
| MY.Alpha Management HK Advisors Ltd | New | +466.9k |
Biggest sellers
| Driehaus Capital Management LLC | Reduced | -1.5m |
| INDUS CAPITAL PARTNERS, LLC | Sold out | -1.3m |
| UBS Group AG | Reduced | -1.1m |
| MARSHALL WACE, LLP | Reduced | -1.1m |
| BAUPOST GROUP LLC/MA | Reduced | -1.0m |
| D. E. Shaw & Co., Inc. | Reduced | -766.4k |
| LORD, ABBETT & CO. LLC | Sold out | -704.7k |
| TWO SIGMA INVESTMENTS, LP | Sold out | -656.9k |
| Point72 Asset Management, L.P. | Sold out | -495.0k |
| FMR LLC | Reduced | -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.
| Holder | Stake |
|---|---|
| SINGAPORE TECHNOLOGIES TELEMEDIA PTE LTD 13D · may seek influence -5.5 pts · filed 2025-09-10 | 28.7% |
| GIC Private Ltd 13G · passive investor -3.7 pts · filed 2026-08-13 | 7.5% |
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
| Manager | Shares | Change |
|---|---|---|
| Singapore Technologies Telemedia Pte Ltd 100.00% of their portfolio | 15.8m $484.1m | Unchanged |
| CANADA PENSION PLAN INVESTMENT BOARD 0.18% of their portfolio | 7.0m $214.1m | Added +3.1m |
| Sachem Head Capital Management LP 6.57% of their portfolio | 6.9m $210.3m | Added +2.7m |
| Tekne Capital Management, LLC 66.63% of their portfolio | 6.3m $191.5m | Added +403.3k |
| 12 West Capital Management LP 15.73% of their portfolio | 4.9m $148.7m | Unchanged |
| Aspex Management (HK) Ltd 2.93% of their portfolio | 4.4m $134.7m | Added +1.4m |
| BAUPOST GROUP LLC/MA 2.41% of their portfolio | 3.2m $99.4m | Reduced -1.0m |
| BAMCO INC /NY/ 0.26% of their portfolio | 3.2m $96.4m | Added +86.5k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 2.8m $85.5m | Added +123.3k |
| MORGAN STANLEY 0.01% of their portfolio | 2.7m $83.5m | Added +95.9k |
| Triata Capital Ltd 10.61% of their portfolio | 1.8m $54.3m | Added +1.5m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 1.2m $36.8m | Added +26.5k |
| Alyeska Investment Group, L.P. 0.13% of their portfolio | 1.2m $35.7m | Added +1.0m |
| UBS Group AG 0.01% of their portfolio | 979.2k $29.9m | Reduced -1.1m |
| Cerity Partners LLC 0.05% of their portfolio | 967.5k $29.6m | Reduced -11.4k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 830.9k $25.4m | Reduced -92.1k |
| JANE STREET GROUP, LLC 0.04% of their portfolio | 805.6k $24.6m | Added +545.7k |
| LIGHT STREET CAPITAL MANAGEMENT, LLC 4.46% of their portfolio | 714.6k $21.8m | New |
| Burkehill Global Management, LP 1.58% of their portfolio | 700.0k $21.4m | New |
| Pacer Advisors, Inc. 0.05% of their portfolio | 699.5k $21.4m | Added +174.4k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 621.7k $19.0m | Added +242.4k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 611.5k $18.7m | Added +101.6k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.04% of their portfolio | 601.5k $18.4m | Added +64.9k |
| NORGES BANK 0.00% of their portfolio | 600.0k $18.3m | Not comparable |
| Ghisallo Capital Management LLC 0.49% of their portfolio | 600.0k $18.3m | New |
| CITIGROUP INC 0.01% of their portfolio | 547.8k $16.7m | Added +254.2k |
| Aberdeen Group plc 0.03% of their portfolio | 537.2k $16.4m | Added +147.0k |
| MY.Alpha Management HK Advisors Ltd 10.59% of their portfolio | 466.9k $14.3m | New |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.03% of their portfolio | 438.5k $13.2m | Reduced -249 |
| Balyasny Asset Management L.P. 0.03% of their portfolio | 424.3k $13.0m | Reduced -5.8k |
| APG Asset Management N.V. 0.03% of their portfolio | 421.6k $11.0m | Unchanged |
| Carrhae Capital LLP 1.22% of their portfolio | 416.9k $12.7m | New |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 380.2k $11.6m | Reduced -72.4k |
| Nuveen, LLC 0.00% of their portfolio | 377.4k $11.5m | Added +27.7k |
| NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio | 369.6k $11.3m | New |
| Waterfront Capital Partners, LLC 2.72% of their portfolio | 358.2k $11.0m | Added +283.2k |
| Eschler Asset Management LLP 8.21% of their portfolio | 355.2k $10.9m | New |
| FMR LLC 0.00% of their portfolio | 314.7k $9.6m | Reduced -422.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 306.7k $9.4m | Reduced -55.2k |
| BlackRock, Inc. 0.00% of their portfolio | 305.8k $9.3m | Reduced -28.4k |
| Monolith Management Ltd 3.26% of their portfolio | 301.9k $9.2m | Added +113.7k |
| Selkirk Management LLC 2.59% of their portfolio | 287.0k $8.8m | Unchanged |
| PINNACLE ASSOCIATES LTD 0.12% of their portfolio | 260.8k $8.0m | Reduced -2.0k |
| LMR Partners LLP 0.12% of their portfolio | 247.8k $7.6m | Added +180.0k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio | 232.7k $7.1m | Reduced -213.7k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 230.6k $7.0m | Added +60.3k |
| Centerbridge Partners, L.P. 1.45% of their portfolio | 205.0k $6.3m | Unchanged |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 189.4k $5.8m | New |
| Hidden Lake Asset Management LP 2.65% of their portfolio | 176.7k $5.4m | Added +92.6k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 174.0k $5.3m | Added +23.9k |
| FRED ALGER MANAGEMENT, LLC 0.02% of their portfolio | 168.4k $5.1m | New |
| Saba Capital Management, L.P. 0.14% of their portfolio | 167.2k $5.1m | Added +13.0k |
| Polymer Capital Management (HK) LTD 0.71% of their portfolio | 147.6k $4.5m | Added +117.6k |
| Lighthouse Investment Partners, LLC 0.17% of their portfolio | 125.0k $3.8m | New |
| SIH Partners, LLLP 0.35% of their portfolio | 121.1k $3.7m | New |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 98.6k $3.0m | Added +6.5k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 95.0k $2.9m | Added +18.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 87.4k $2.7m | Reduced -4.8k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 84.5k $2.6m | Reduced -96.7k |
| Walleye Capital LLC 0.02% of their portfolio | 78.5k $2.4m | Added +37.2k |
| Y-Intercept (Hong Kong) Ltd 0.06% of their portfolio | 78.4k $2.4m | New |
| Invesco Ltd. 0.00% of their portfolio | 77.2k $2.4m | Reduced -13.0k |
| Anson Funds Management LP 0.42% of their portfolio | 75.0k $2.3m | Added +24.2k |
| Electron Capital Partners, LLC 0.11% of their portfolio | 69.4k $2.1m | Reduced -157 |
| MARSHALL WACE, LLP 0.00% of their portfolio | 69.3k $2.1m | Reduced -1.1m |
| MAPLELANE CAPITAL, LLC 0.12% of their portfolio | 65.0k $2.0m | New |
| BARCLAYS PLC 0.00% of their portfolio | 56.6k $1.7m | Added +52.5k |
| Taikang Asset Management (Hong Kong) Co Ltd 0.22% of their portfolio | 55.0k $1.7m | New |
| Driehaus Capital Management LLC 0.01% of their portfolio | 54.0k $1.7m | Reduced -1.5m |
| BAROMETER CAPITAL MANAGEMENT INC. 0.44% of their portfolio | 52.6k $1.6m | Added +12.0k |
| Creative Planning 0.00% of their portfolio | 50.2k $1.5m | Reduced -28.3k |
| Centiva Capital, LP 0.10% of their portfolio | 49.1k $1.5m | Added +20.2k |
| Concentric Capital Strategies, LP 0.08% of their portfolio | 47.0k $1.4m | New |
| Headlands Technologies LLC 0.17% of their portfolio | 46.4k $1.4m | Added +31.8k |
| CastleKnight Management LP 0.09% of their portfolio | 44.2k $1.4m | Added +16.8k |
| Future Fund LLC 0.59% of their portfolio | 43.6k $1.3m | New |
| DYMON ASIA CAPITAL (SINGAPORE) PTE. LTD. 0.87% of their portfolio | 40.0k $1.2m | Reduced -16.7k |
| Caption Management, LLC 0.11% of their portfolio | 40.0k $1.2m | New |
| State of New Jersey Common Pension Fund D 0.00% of their portfolio | 36.7k $1.1m | Added +3.7k |
| Schonfeld Strategic Advisors LLC 0.01% of their portfolio | 36.1k $1.1m | New |
| GROUP ONE TRADING LLC 0.03% of their portfolio | 29.1k $888.5k | Added +12.6k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.03% of their portfolio | 27.7k $846.0k | New |
| Mariner, LLC 0.00% of their portfolio | 26.9k $823.4k | Reduced -389 |
| One Capital Management, LLC 0.03% of their portfolio | 26.4k $805.9k | New |
| Bayforest Capital Ltd 0.34% of their portfolio | 25.6k $784.1k | Added +1.0k |
| Hood River Capital Management LLC 0.01% of their portfolio | 25.3k $773.3k | New |
| AMIRAL GESTION 0.33% of their portfolio | 25.0k $764.2k | Added +7.0k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 23.9k $731.1k | Added +1.3k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 21.9k $668.1k | Reduced -40.7k |
| Verition Fund Management LLC 0.00% of their portfolio | 20.0k $612.0k | Added +10.8k |
| Capula Management Ltd 0.01% of their portfolio | 20.0k $611.4k | Not comparable |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 18.4k $561.7k | Reduced -766.4k |
| MACROVIEW INVESTMENT MANAGEMENT LLC 0.39% of their portfolio | 15.5k $472.6k | Reduced -3.1k |
| Laird Norton Wetherby Wealth Management, LLC 0.02% of their portfolio | 15.2k $463.2k | First filing |
| Farther Finance Advisors, LLC 0.01% of their portfolio | 14.8k $451.2k | Added +14.5k |
| Vident Advisory, LLC 0.00% of their portfolio | 14.5k $442.7k | Reduced -11.5k |
| LPL Financial LLC 0.00% of their portfolio | 14.4k $441.0k | Added +5.5k |
| Vanguard Personalized Indexing Management, LLC 0.00% of their portfolio | 14.1k $431.4k | Added +1.6k |
| XTX Topco Ltd 0.02% of their portfolio | 13.7k $418.1k | Reduced -25.5k |
| Itau Unibanco Holding S.A. 0.02% of their portfolio | 13.4k $410.8k | Added +1.5k |