Vault-13

NEW ORIENTAL ED & TECHNOLOGY EDU

SPON ADR · ADR · CUSIP 647581206 · ISIN US6475812060

Provider of private educational services in China

154 institutional holders -13 vs Q2 2025
50,036,13050.0m shares reported held*
$2.7bnreported value*
24 new 45 added 60 reduced 34 sold out net sold ≈ $227.3m (-4.3m 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 ($2.7k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $53.07. Options: 13 managers hold calls ($25.2m notional), 12 hold puts ($33.1m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 153Q4 22: 182Q1 23: 176Q2 23: 177Q3 23: 189Q4 23: 236Q1 24: 255Q2 24: 228Q3 24: 215Q4 24: 204Q1 25: 167Q2 25: 167Q3 25: 154154Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 2022153
Q4 2022182
Q1 2023176
Q2 2023177
Q3 2023189
Q4 2023236
Q1 2024255
Q2 2024228
Q3 2024215
Q4 2024204
Q1 2025167
Q2 2025167
Q3 2025154

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 23: 122 bought or addedQ4 23: 107 cut or sold outQ1 24: 127 bought or addedQ1 24: 136 cut or sold outQ1 24Q2 24: 98 bought or addedQ2 24: 147 cut or sold outQ3 24: 105 bought or addedQ3 24: 127 cut or sold outQ3 24Q4 24: 89 bought or addedQ4 24: 132 cut or sold outQ1 25: 78 bought or addedQ1 25: 122 cut or sold outQ1 25Q2 25: 68 bought or addedQ2 25: 97 cut or sold outQ3 25: 69 bought or addedQ3 25: 94 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 2023122107
Q1 2024127136
Q2 202498147
Q3 2024105127
Q4 202489132
Q1 202578122
Q2 20256897
Q3 20256994

Calls vs puts

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

CallsPuts
$0$20m$40m$60mQ4 24 calls: $47.4mQ4 24 puts: $35.9mQ4 24P/C 0.76Q1 25 calls: $37.6mQ1 25 puts: $55.5mQ1 25P/C 1.48Q2 25 calls: $37.2mQ2 25 puts: $44.2mQ2 25P/C 1.19Q3 25 calls: $25.2mQ3 25 puts: $33.1mQ3 25P/C 1.31
Numbers
QuarterCallsPutsP/C
Q4 2024$47.4m$35.9m0.76
Q1 2025$37.6m$55.5m1.48
Q2 2025$37.2m$44.2m1.19
Q3 2025$25.2m$33.1m1.31

Biggest buyers

First Beijing Investment Ltd Added +2,231,169+2.2m
JPMORGAN CHASE & CO Added +846,445+846.4k
Orbis Allan Gray Ltd New +597,498+597.5k
SERENITY CAPITAL MANAGEMENT PTE. LTD. Added +411,380+411.4k
Monolith Management Ltd Added +241,546+241.5k
BARCLAYS PLC Added +220,129+220.1k
Tairen Capital Ltd New +155,300+155.3k
TWO SIGMA ADVISERS, LP Added +132,640+132.6k
Walleye Capital LLC Added +116,389+116.4k
Point72 Hong Kong Ltd Added +104,340+104.3k

Biggest sellers

Aspex Management (HK) Ltd Reduced -1,101,825-1.1m
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sold out -930,113-930.1k
BRILLIANCE ASSET MANAGEMENT LTD Reduced -771,937-771.9k
ALKEON CAPITAL MANAGEMENT LLC Reduced -745,500-745.5k
MORGAN STANLEY Reduced -717,844-717.8k
FARALLON CAPITAL MANAGEMENT, L.L.C. Reduced -590,000-590.0k
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Reduced -467,300-467.3k
Green Court Capital Management Ltd Reduced -427,856-427.9k
BlackRock, Inc. Reduced -422,353-422.4k
Carrhae Capital LLP Sold out -346,937-346.9k

Biggest calls

JANE STREET GROUP, LLC Reduced $6.6m125.3k shares
PEAK6 LLC Added $4.4m83.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $3.7m69.6k shares
GOLDMAN SACHS GROUP INC Added $2.4m45.7k shares
UBS Group AG Reduced $1.7m32.5k shares
Walleye Trading LLC Added $1.6m30.3k shares
CITADEL ADVISORS LLC Reduced $1.6m30.1k shares
SIMPLEX TRADING, LLC Reduced $1.0m19.4k shares
IMC-Chicago, LLC Added $886.3k16.7k shares
GROUP ONE TRADING LLC Reduced $435.2k8.2k shares

Biggest puts

GOLDMAN SACHS GROUP INC Unchanged $9.8m183.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $7.3m137.2k shares
JANE STREET GROUP, LLC Reduced $7.0m131.3k shares
CITADEL ADVISORS LLC Reduced $3.0m57.1k shares
IMC-Chicago, LLC Added $1.7m31.1k shares
SIMPLEX TRADING, LLC Added $1.5m27.7k shares
Walleye Trading LLC Added $1.1m20.2k shares
PEAK6 LLC Reduced $711.1k13.4k shares
UBS Group AG Reduced $451.1k8.5k shares
MILLENNIUM MANAGEMENT LLC New $429.9k8.1k 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
First Beijing Investment Ltd 13G · passive investor filed 2026-05-13 10.9% 171.7m 2026-05-13
Invesco Ltd. 13G · institution new · filed 2026-05-06 5.4% new 85.4m 2026-05-06

Fell to 5% or below in the last year: NORGES BANK (4.8%, 2026-08-12)

Insider purchases and sales in Q3 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 Q3 2025.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 First Beijing Investment Ltd 19.15% of their portfolio HONG KONG, K3 9,346,5019.3m $496.0m $496.0m 19.15% Added +2.2m +2,231,169
2 Aspex Management (HK) Ltd 6.67% of their portfolio CENTRAL, K3 5,879,3635.9m $312.0m $312.0m 6.67% Reduced -1.1m -1,101,825
3 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 3,858,0463.9m $204.7m $204.7m 0.01% Reduced -717.8k -717,844
4 RENAISSANCE TECHNOLOGIES LLC 0.23% of their portfolio NEW YORK, NY 3,261,4543.3m $173.1m $173.1m 0.23% Reduced -106.4k -106,400
5 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 2,175,6982.2m $115.5m $115.5m 0.00% Added +846.4k +846,445
6 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 2,099,8732.1m $111.4m $111.4m 0.02% Added +9.0k +9,033
7 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 2,031,9012.0m $107.8m $107.8m 0.01% Reduced -135.3k -135,267
8 Discerene Group LP 7.60% of their portfolio STAMFORD, CT 1,580,5141.6m $83.9m $83.9m 7.60% Unchanged
9 UBS Group AG 0.02% of their portfolio ZURICH, V8 1,546,2411.5m $82.1m $82.1m 0.02% Reduced -313.5k -313,457
10 ALKEON CAPITAL MANAGEMENT LLC 0.35% of their portfolio New York, NY 1,447,9861.4m $76.8m $76.8m 0.35% Reduced -745.5k -745,500
11 Greenwoods Asset Management Hong Kong Ltd. 1.59% of their portfolio HONG KONG, K3 1,328,2181.3m $70.5m $70.5m 1.59% Unchanged
12 NATIONAL BANK OF CANADA /FI/ 0.05% of their portfolio MONTREAL, A8 916,300916.3k $48.6m $48.6m 0.05% Reduced -4.7k -4,700
13 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.09% of their portfolio TORONTO, A6 888,100888.1k $47.1m $47.1m 0.09% Reduced -467.3k -467,300
14 BlackRock, Inc. 0.00% of their portfolio New York, NY 867,972868.0k $46.1m $46.1m 0.00% Reduced -422.4k -422,353
15 MACQUARIE GROUP LTD 0.05% of their portfolio Sydney, NSW 2000, C3 816,848816.8k $43.4m $43.4m 0.05% Reduced -172.7k -172,651
16 Cederberg Capital Ltd 12.24% of their portfolio LONDON, X0 807,718807.7k $42.9m $42.9m 12.24% Reduced -120.8k -120,800
17 Tiger Pacific Capital LP 9.34% of their portfolio NEW YORK, NY 695,532695.5k $36.9m $36.9m 9.34% Reduced -9.9k -9,861
18 SERENITY CAPITAL MANAGEMENT PTE. LTD. 8.85% of their portfolio Singapore, U0 656,878656.9k $34.9m $34.9m 8.85% Added +411.4k +411,380
19 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 618,307618.3k $32.8m $32.8m 0.01% Added +2.7k +2,697
20 SCHRODER INVESTMENT MANAGEMENT GROUP 0.03% of their portfolio London, X0 610,087610.1k $32.4m $32.4m 0.03% Reduced -35.1k -35,134
21 Orbis Allan Gray Ltd 0.14% of their portfolio HamiltoN, D0 597,498597.5k $31.7m $31.7m 0.14% New
22 FARALLON CAPITAL MANAGEMENT, L.L.C. 0.17% of their portfolio SAN FRANCISCO, CA 565,150565.1k $30.0m $30.0m 0.17% Reduced -590.0k -590,000
23 Yiheng Capital Management, L.P. 9.16% of their portfolio SAN FRANCISCO, CA 521,901521.9k $27.7m $27.7m 9.16% Reduced -76.2k -76,179
24 Monolith Management Ltd 11.84% of their portfolio HONG KONG, K3 506,046506.0k $26.9m $26.9m 11.84% Added +241.5k +241,546
25 Green Court Capital Management Ltd 10.63% of their portfolio HONG KONG, K3 440,565440.6k $23.4m $23.4m 10.63% Reduced -427.9k -427,856
26 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 431,564431.6k $22.9m $22.9m 0.01% Added +220.1k +220,129
27 Triata Capital Ltd 2.28% of their portfolio HONG KONG, K3 367,374367.4k $19.5m $19.5m 2.28% Added +14.4k +14,400
28 Carmignac Gestion 0.29% of their portfolio PARIS, I0 363,289363.3k $19.3m $19.3m 0.29% Added +98.0k +97,956
29 Amundi 0.01% of their portfolio Paris, I0 351,299351.3k $18.5m $18.5m 0.01% Reduced -57.4k -57,405
30 SHAH CAPITAL MANAGEMENT 2.89% of their portfolio RALEIGH, NC 304,744304.7k $16.2m $16.2m 2.89% Reduced -573 -573
31 FMR LLC 0.00% of their portfolio BOSTON, MA 286,985287.0k $15.2m $15.2m 0.00% Reduced -322.1k -322,144
32 BRILLIANCE ASSET MANAGEMENT LTD 6.92% of their portfolio ADMIRALTY, HONG KONG, K3 244,534244.5k $13.0m $13.0m 6.92% Reduced -771.9k -771,937
33 Hel Ved Capital Management Ltd 5.94% of their portfolio CENTRAL, K3 206,200206.2k $10.9m $10.9m 5.94% Reduced -46.3k -46,300
34 Point72 Hong Kong Ltd 0.49% of their portfolio HONG KONG, K3 198,540198.5k $10.5m $10.5m 0.49% Added +104.3k +104,340
35 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 188,415188.4k $10.0m $10.0m 0.01% Added +6.5k +6,451
36 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 185,407185.4k $9.8m $9.8m 0.01% Added +100.4k +100,375
37 TWO SIGMA ADVISERS, LP 0.02% of their portfolio NEW YORK, NY 159,109159.1k $8.4m $8.4m 0.02% Added +132.6k +132,640
38 Oasis Management Co Ltd. 1.40% of their portfolio GRAND CAYMAN, E9 155,424155.4k $8.2m $8.2m 1.40% Added +5.0k +5,000
39 Tairen Capital Ltd 0.89% of their portfolio HONG KONG, K3 155,300155.3k $8.2m $8.2m 0.89% New
40 Jump Financial, LLC 0.09% of their portfolio Chicago, IL 132,122132.1k $7.0m $7.0m 0.09% Reduced -39.0k -38,986
41 Harvest Fund Management Co., Ltd 0.29% of their portfolio BEIJING, F4 128,408128.4k $6.8m $6.8m 0.29% Reduced -4.8k -4,796
42 Walleye Capital LLC 0.05% of their portfolio NEW YORK, NY 125,667125.7k $6.7m $6.7m 0.05% Added +116.4k +116,389
43 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 123,284123.3k $6.5m $6.5m 0.00% Reduced -270 -270
44 Legal & General Group Plc 0.00% of their portfolio London, X0 100,350100.3k $5.3m $5.3m 0.00% Added +4.0k +3,991
45 Polymer Capital Management (HK) LTD 0.70% of their portfolio HONG KONG, K3 94,36794.4k $5.0m $5.0m 0.70% Reduced -15.8k -15,816
46 Man Group plc 0.01% of their portfolio LONDON, X0 90,38490.4k $4.8m $4.8m 0.01% Reduced -126 -126
47 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 86,26486.3k $4.6m $4.6m 0.00% Reduced -88.8k -88,850
48 EDMOND DE ROTHSCHILD HOLDING S.A. 0.07% of their portfolio CHAMBESY, V8 83,74083.7k $4.4m $4.4m 0.07% Added +1.6k +1,627
49 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 79,53579.5k $4.2m $4.2m 0.00% Reduced -1.0k -1,010
50 Trexquant Investment LP 0.04% of their portfolio STAMFORD, CT 74,72974.7k $4.0m $4.0m 0.04% Added +56.8k +56,777
51 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 68,96969.0k $3.7m $3.7m 0.00% Reduced -190.6k -190,629
52 MACKENZIE FINANCIAL CORP 0.00% of their portfolio TORONTO ONTARIO, A6 67,73767.7k $3.6m $3.6m 0.00% Added +29.6k +29,562
53 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 67,35967.4k $3.6m $3.6m 0.01% Added +57.7k +57,653
54 Siren, L.L.C. 0.13% of their portfolio New York, NY 62,00062.0k $3.3m $3.3m 0.13% Reduced -10.0k -10,000
55 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio Boston, MA 57,67257.7k $3.1m $3.1m 0.00% Added +5.8k +5,799
56 Y-Intercept (Hong Kong) Ltd 0.07% of their portfolio HONG KONG, K3 52,48752.5k $2.8m $2.8m 0.07% Reduced -86.5k -86,487
57 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 51,72851.7k $2.7m $2.7m 0.00% Unchanged
58 STOREBRAND ASSET MANAGEMENT AS 0.01% of their portfolio LYSAKER, Q8 50,82150.8k $2.7m $2.7m 0.01% Unchanged
59 FACTORY MUTUAL INSURANCE CO 0.02% of their portfolio WALTHAM, MA 47,19747.2k $2.5m $2.5m 0.02% New
60 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 43,51243.5k $2.3m $2.3m 0.00% Reduced -7.7k -7,661
61 OPTIMAS CAPITAL Ltd 1.25% of their portfolio CENTRAL, K3 37,20037.2k $2.0m $2.0m 1.25% New
62 HRT FINANCIAL LP 0.01% of their portfolio NEW YORK, NY 31,05631.1k $1.6m $1.6m 0.01% Added +5.7k +5,749
63 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 25,84125.8k $1.4m $1.4m 0.01% Reduced -9.6k -9,592
64 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 25,66225.7k $1.4m $1.4m 0.00% Reduced -248 -248
65 Swedbank AB 0.00% of their portfolio STOCKHOLM, V7 23,45123.5k $1.2m $1.2m 0.00% Reduced -6.2k -6,226
66 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 22,57122.6k $1.2m $1.2m 0.00% Added +5.8k +5,840
67 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 20,57920.6k $1.1m $1.1m 0.00% Unchanged
68 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 20,51020.5k $1.1m $1.1m 0.00% Added +7.3k +7,295
69 Cubist Systematic Strategies, LLC 0.02% of their portfolio STAMFORD, CT 20,19820.2k $1.1m $1.1m 0.02% Reduced -43.5k -43,493
70 Caisse de depot et placement du Quebec 0.00% of their portfolio Montreal, A8 19,36319.4k $1.0m $1.0m 0.00% Reduced -4.6k -4,589
71 PROFUND ADVISORS LLC 0.03% of their portfolio BETHESDA, MD 19,19519.2k $1.0m $1.0m 0.03% Added +3.1k +3,105
72 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 18,84018.8k $999.1k $999.1k 0.00% Reduced -22.6k -22,580
73 IMC-Chicago, LLC 0.02% of their portfolio CHICAGO, IL 18,21618.2k $966.7k $966.7k 0.02% Added +5.9k +5,914
74 SIMPLEX TRADING, LLC 0.02% of their portfolio CHICAGO, IL 16,67616.7k $884.0k $884.0k 0.02% Added +14.0k +13,961
75 OVERSEA-CHINESE BANKING Corp Ltd 0.02% of their portfolio SINGAPORE, U0 16,14316.1k $855.6k $855.6k 0.02% Unchanged
76 BAROMETER CAPITAL MANAGEMENT INC. 0.19% of their portfolio TORONTO, A6 16,00016.0k $849.1k $849.1k 0.19% Added +7.0k +7,000
77 BlueCrest Capital Management Ltd 0.05% of their portfolio ST HELIER, Y9 15,80015.8k $838.5k $838.5k 0.05% Unchanged
78 GROUP ONE TRADING LLC 0.02% of their portfolio CHICAGO, IL 15,48915.5k $822.0k $822.0k 0.02% Added +8.5k +8,515
79 NOMURA HOLDINGS INC 0.00% of their portfolio TOKYO, M0 14,06214.1k $746.3k $746.3k 0.00% New
80 GSA CAPITAL PARTNERS LLP 0.06% of their portfolio LONDON, X0 13,13613.1k $697.0k $697.0k 0.06% New
81 Laird Norton Wetherby Wealth Management, LLC 0.03% of their portfolio Seattle, WA 12,96513.0k $688.1k $688.1k 0.03% Reduced -33 -33
82 Robeco Institutional Asset Management B.V. 0.00% of their portfolio ROTTERDAM, P7 12,92212.9k $685.8k $685.8k 0.00% Added +300 +300
83 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 12,39012.4k $657.5k $657.5k 0.00% New
84 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 11,46411.5k $608.4k $608.4k 0.00% Added +50 +50
85 Persistent Asset Partners Ltd 0.41% of their portfolio HONG KONG, K3 10,65310.7k $565.4k $565.4k 0.41% New
86 FOX RUN MANAGEMENT, L.L.C. 0.09% of their portfolio GREENWICH, CT 10,54810.5k $559.8k $559.8k 0.09% Added +573 +573
87 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 10,44210.4k $554.2k $554.2k 0.00% Added +2.0k +1,954
88 Prescott Group Capital Management, L.L.C. 0.06% of their portfolio Tulsa, OK 10,00010.0k $530.7k $530.7k 0.06% Unchanged
89 INVESTMENT HOUSE LLC 0.03% of their portfolio REDONDO BEACH, CA 10,00010.0k $530.7k $530.7k 0.03% New
90 Bayforest Capital Ltd 0.24% of their portfolio LONDON, X0 9,5789.6k $508.3k $508.3k 0.24% Added +9.3k +9,348
91 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 9,3009.3k $493.6k $493.6k 0.00% New
92 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 9,1089.1k $484.5k $484.5k 0.00% Added +218 +218
93 Myriad Asset Management US LP 0.23% of their portfolio WEST PALM BEACH, FL 8,0958.1k $429.6k $429.6k 0.23% New
94 DekaBank Deutsche Girozentrale 0.00% of their portfolio FRANKFURT, 2M 8,0008.0k $423.0k $423.0k 0.00% Unchanged
95 DRW Securities, LLC 0.02% of their portfolio CHICAGO, IL 7,0657.1k $373.3k $373.3k 0.02% New
96 ABC ARBITRAGE SA 0.04% of their portfolio PARIS, I0 7,0107.0k $372.0k $372.0k 0.04% New
97 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 7,0007.0k $371.5k $371.5k 0.00% Unchanged
98 West Family Investments, Inc. 0.08% of their portfolio CARLSBAD, CA 6,9577.0k $369.2k $369.2k 0.08% Added +103 +103
99 Campbell & CO Investment Adviser LLC 0.03% of their portfolio BALTIMORE, MD 6,7076.7k $355.9k $355.9k 0.03% Reduced -4.8k -4,796
100 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 6,6016.6k $350.3k $350.3k 0.00% Added +22 +22