Vault-13

TAL EDUCATION GROUP TAL

SPONSORED ADS · ADR · CUSIP 874080104 · ISIN US8740801043

After-school education institution of China

241 institutional holders +21 vs Q4 2023
289,369,021289.4m shares reported held*
$3.3bnreported value*
50 new 73 added 82 reduced 32 sold out net bought ≈ $404.3m (+35.6m 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 ($219.1k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $11.38. Options: 17 managers hold calls ($31.7m notional), 15 hold puts ($34.8m).

Trends to Q1 2024

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 191Q4 22: 221Q1 23: 194Q2 23: 191Q3 23: 195Q4 23: 220Q1 24: 241241Q3 22Q1 23Q3 23Q1 24
Numbers
QuarterHolders
Q3 2022191
Q4 2022221
Q1 2023194
Q2 2023191
Q3 2023195
Q4 2023220
Q1 2024241

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 22: 113 bought or addedQ4 22: 80 cut or sold outQ4 22Q1 23: 90 bought or addedQ1 23: 112 cut or sold outQ1 23Q2 23: 54 bought or addedQ2 23: 102 cut or sold outQ2 23Q3 23: 78 bought or addedQ3 23: 101 cut or sold outQ3 23Q4 23: 111 bought or addedQ4 23: 89 cut or sold outQ4 23Q1 24: 123 bought or addedQ1 24: 114 cut or sold outQ1 24
Numbers
QuarterBought or addedCut or sold out
Q4 202211380
Q1 202390112
Q2 202354102
Q3 202378101
Q4 202311189
Q1 2024123114

Calls vs puts

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

CallsPuts
$0$25m$50m$75m$100mQ2 23 calls: $14.6mQ2 23 puts: $17.5mQ2 23P/C 1.19Q3 23 calls: $48.7mQ3 23 puts: $42.0mQ3 23P/C 0.86Q4 23 calls: $99.7mQ4 23 puts: $72.4mQ4 23P/C 0.73Q1 24 calls: $31.7mQ1 24 puts: $34.8mQ1 24P/C 1.10
Numbers
QuarterCallsPutsP/C
Q2 2023$14.6m$17.5m1.19
Q3 2023$48.7m$42.0m0.86
Q4 2023$99.7m$72.4m0.73
Q1 2024$31.7m$34.8m1.10

Biggest buyers

MORGAN STANLEY Added +23,874,247+23.9m
Tairen Capital Ltd New +3,975,438+4.0m
NORGES BANK Added +3,421,685+3.4m
MANUFACTURERS LIFE INSURANCE COMPANY, THE Added +3,176,430+3.2m
Balyasny Asset Management L.P. New +2,956,872+3.0m
HSBC HOLDINGS PLC Added +2,473,693+2.5m
BANK OF AMERICA CORP /DE/ Added +2,377,959+2.4m
FMR LLC Added +2,200,751+2.2m
MILLENNIUM MANAGEMENT LLC Added +2,153,855+2.2m
Broad Peak Investment Holdings Ltd. New +1,541,190+1.5m

Biggest sellers

Snow Lake Management LP Sold out -7,177,032-7.2m
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Reduced -3,200,056-3.2m
Candriam S.C.A. Sold out -2,098,800-2.1m
VANGUARD GROUP INC Reduced -1,632,799-1.6m
Tiger Pacific Capital LP Reduced -1,560,800-1.6m
CITADEL ADVISORS LLC Reduced -1,343,064-1.3m
CANADA PENSION PLAN INVESTMENT BOARD Reduced -1,034,445-1.0m
KEYSTONE INVESTORS PTE LTD Reduced -1,012,485-1.0m
NOMURA HOLDINGS INC Reduced -1,004,423-1.0m
Perseverance Asset Management International Reduced -1,002,793-1.0m

Biggest calls

GROUP ONE TRADING LLC Reduced $6.6m582.0k shares
JANE STREET GROUP, LLC Added $4.1m364.3k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $4.0m356.6k shares
CITADEL ADVISORS LLC Reduced $3.9m342.3k shares
SIMPLEX TRADING, LLC Reduced $3.5m306.6k shares
Walleye Trading LLC Added $2.1m188.9k shares
Cubist Systematic Strategies, LLC Added $2.1m184.5k shares
IMC-Chicago, LLC Reduced $1.6m141.9k shares
Capital Markets Trading UK LLP Reduced $1.6m140.0k shares
WOLVERINE TRADING, LLC Added $769.5k67.8k shares

Biggest puts

Caption Management, LLC Reduced $8.7m766.9k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $5.5m484.0k shares
Parallax Volatility Advisers, L.P. Reduced $4.5m392.7k shares
CITADEL ADVISORS LLC Reduced $3.0m266.5k shares
SIMPLEX TRADING, LLC Reduced $2.9m258.3k shares
GROUP ONE TRADING LLC Reduced $2.4m207.5k shares
Squarepoint Ops LLC Added $2.2m190.0k shares
Walleye Trading LLC Reduced $1.6m143.9k shares
IMC-Chicago, LLC Reduced $1.3m112.4k shares
GTS SECURITIES LLC Added $856.9k75.5k 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.

No one currently above 5% in the filings since 19 Dec 2024.

Fell to 5% or below in the last year: FMR LLC (0.7%, 2026-05-06)

Insider purchases and sales in Q1 2024

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 Q1 2024.

Holders, Q1 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 48,080,69748.1m $545.7m $545.7m 0.01% Added +23.9m +23,874,247
2 BlackRock Inc. 0.01% of their portfolio New York, NY 19,313,73219.3m $219.2m $219.2m 0.01% Reduced -32.3k -32,251
3 Krane Funds Advisors LLC 8.36% of their portfolio NEW YORK, NY 17,584,13717.6m $203.4m $203.4m 8.36% Added +487.7k +487,742
4 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 15,891,26815.9m $180.4m $180.4m 0.00% Reduced -1.6m -1,632,799
5 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.06% of their portfolio NEW YORK, NY 15,364,12415.4m $174.4m $174.4m 0.06% Reduced -60.9k -60,883
6 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 11,390,21111.4m $129.3m $129.3m 0.01% Added +2.4m +2,377,959
7 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 9,040,1429.0m $102.6m $102.6m 0.02% Added +223.6k +223,577
8 Tiger Pacific Capital LP 21.75% of their portfolio NEW YORK, NY 8,252,7008.3m $93.7m $93.7m 21.75% Reduced -1.6m -1,560,800
9 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 7,131,0897.1m $80.9m $80.9m 0.00% Reduced -66.6k -66,616
10 HCEP Management Ltd 10.67% of their portfolio HONG KONG, K3 5,000,0005.0m $56.8m $56.8m 10.67% Unchanged
11 HSBC HOLDINGS PLC 0.04% of their portfolio LONDON, X0 4,868,6124.9m $55.3m $55.3m 0.04% Added +2.5m +2,473,693
12 ACADIAN ASSET MANAGEMENT LLC 0.16% of their portfolio Boston, MA 4,109,2774.1m $46.6m $46.6m 0.16% Added +1.2m +1,187,364
13 NORGES BANK 0.01% of their portfolio OSLO, Q8 4,105,1674.1m $46.6m $46.6m 0.01% Added +3.4m +3,421,685
14 Tairen Capital Ltd 2.76% of their portfolio HONG KONG, K3 3,975,4384.0m $45.1m $45.1m 2.76% New
15 UBS Group AG 0.01% of their portfolio ZURICH, V8 3,916,8433.9m $44.5m $44.5m 0.01% Reduced -65.1k -65,052
16 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.16% of their portfolio TORONTO, A6 3,888,8003.9m $44.1m $44.1m 0.16% Reduced -3.2m -3,200,056
17 Discerene Group LP 6.40% of their portfolio STAMFORD, CT 3,885,5873.9m $44.1m $44.1m 6.40% Reduced -341.6k -341,579
18 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.04% of their portfolio Toronto, A6 3,477,1833.5m $39.4m $39.4m 0.04% Added +3.2m +3,176,430
19 Harvest Fund Management Co., Ltd 3.53% of their portfolio BEIJING, F4 3,467,1533.5m $39.3m $39.3m 3.53% Added +228.0k +228,002
20 NATIONAL BANK OF CANADA /FI/ 0.08% of their portfolio MONTREAL, A8 3,257,7003.3m $43.7m $43.7m 0.08% Added +1.4m +1,379,500
21 WT Asset Management Ltd 3.68% of their portfolio HONG KONG, K3 3,220,5233.2m $36.6m $36.6m 3.68% Reduced -281.5k -281,456
22 E Fund Management Co., Ltd. 2.09% of their portfolio GUANGZHOU, F4 2,967,4633.0m $33.7m $33.7m 2.09% Reduced -85.2k -85,215
23 Greenwoods Asset Management Hong Kong Ltd. 1.04% of their portfolio HONG KONG, K3 2,966,3973.0m $33.7m $33.7m 1.04% Added +790.8k +790,800
24 Balyasny Asset Management L.P. 0.09% of their portfolio Chicago, IL 2,956,8723.0m $33.6m $33.6m 0.09% New
25 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 2,783,0772.8m $31.6m $31.6m 0.03% Added +2.2m +2,153,855
26 Cederberg Capital Ltd 8.33% of their portfolio LONDON, X0 2,646,8692.6m $30.0m $30.0m 8.33% Reduced -329.9k -329,900
27 Legal & General Group Plc 0.01% of their portfolio London, X0 2,625,8122.6m $29.8m $29.8m 0.01% Reduced -71.1k -71,146
28 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 2,413,7172.4m $27.2m $27.2m 0.00% Added +149.4k +149,366
29 53 HOUSE LLP 6.78% of their portfolio LONDON, X0 2,326,6122.3m $26.4m $26.4m 6.78% Reduced -187.2k -187,157
30 RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio NEW YORK, NY 2,259,4002.3m $25.6m $25.6m 0.04% Unchanged
31 Nuveen Asset Management, LLC 0.01% of their portfolio CHICAGO, IL 2,251,8062.3m $25.6m $25.6m 0.01% Added +1.4m +1,381,491
32 FMR LLC 0.00% of their portfolio BOSTON, MA 2,212,6562.2m $25.1m $25.1m 0.00% Added +2.2m +2,200,751
33 Connor, Clark & Lunn Investment Management Ltd. 0.10% of their portfolio VANCOUVER, A1 2,148,0952.1m $24.4m $24.4m 0.10% Reduced -53.6k -53,575
34 FengHe Fund Management Pte. Ltd. 2.99% of their portfolio Singapore, U0 2,088,7102.1m $23.7m $23.7m 2.99% Reduced -398.5k -398,476
35 Qube Research & Technologies Ltd 0.04% of their portfolio LONDON, X0 2,048,5192.0m $23.3m $23.3m 0.04% Added +465.9k +465,861
36 Yiheng Capital Management, L.P. 3.16% of their portfolio SAN FRANCISCO, CA 1,935,7181.9m $22.0m $22.0m 3.16% Reduced -2.4k -2,428
37 Mirae Asset Global Investments Co., Ltd. 0.04% of their portfolio SEOUL, M5 1,812,3591.8m $18.6m $18.6m 0.04% Added +282.2k +282,216
38 Amundi 0.01% of their portfolio Paris, I0 1,801,7471.8m $21.0m $21.0m 0.01% Reduced -75.8k -75,762
39 Pictet Asset Management Holding SA 0.02% of their portfolio CAROUGE, V8 1,699,7091.7m $19.3m $19.3m 0.02% Reduced -439.4k -439,363
40 Think Investments LP 4.00% of their portfolio San Francisco, CA 1,579,4951.6m $17.9m $17.9m 4.00% Reduced -335.4k -335,405
41 Broad Peak Investment Holdings Ltd. 3.29% of their portfolio SINGAPORE, U0 1,541,1901.5m $17.5m $17.5m 3.29% New
42 TWO SIGMA INVESTMENTS, LP 0.04% of their portfolio NEW YORK, NY 1,449,3191.4m $16.4m $16.4m 0.04% Added +965.3k +965,251
43 KEYSTONE INVESTORS PTE LTD 1.36% of their portfolio SINGAPORE, U0 1,382,9881.4m $15.7m $15.7m 1.36% Reduced -1.0m -1,012,485
44 FARALLON CAPITAL MANAGEMENT, L.L.C. 0.09% of their portfolio SAN FRANCISCO, CA 1,365,0001.4m $15.5m $15.5m 0.09% Unchanged
45 Capitolis Liquid Global Markets LLC 0.24% of their portfolio NEW YORK, NY 1,315,0001.3m $14.9m $14.9m 0.24% New
46 MACQUARIE GROUP LTD 0.01% of their portfolio Sydney, NSW 2000, C3 1,166,4791.2m $13.2m $13.2m 0.01% Added +18.9k +18,888
47 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,139,8401.1m $12.9m $12.9m 0.00% Reduced -247.3k -247,302
48 Susquehanna Portfolio Strategies, LLC 0.29% of their portfolio Bala Cynwyd, PA 1,108,1941.1m $12.6m $12.6m 0.29% Unchanged
49 Hel Ved Capital Management Ltd 3.12% of their portfolio CENTRAL, K3 1,106,8001.1m $12.6m $12.6m 3.12% Added +635.8k +635,800
50 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 1,051,5671.1m $11.9m $11.9m 0.01% Reduced -226.5k -226,473
51 Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio CHIYODA-KU, TOKYO, M0 1,018,0141.0m $11.6m $11.6m 0.01% Reduced -8.1k -8,066
52 Swiss National Bank 0.01% of their portfolio ZURICH, V8 990,519990.5k $11.2m $11.2m 0.01% Added +30.4k +30,400
53 Monolith Management Ltd 4.07% of their portfolio HONG KONG, K3 904,967905.0k $10.3m $10.3m 4.07% Added +145.0k +145,000
54 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 898,542898.5k $10.2m $10.2m 0.01% Reduced -248.0k -248,013
55 FIL Ltd 0.01% of their portfolio HAMILTON, D0 857,972858.0k $9.7m $9.7m 0.01% New
56 COATUE MANAGEMENT LLC 0.04% of their portfolio New York, NY 849,164849.2k $9.6m $9.6m 0.04% Reduced -212.6k -212,550
57 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio JUPITER, FL 833,867833.9k $9.5m $9.5m 0.03% New
58 CANADA LIFE ASSURANCE Co 0.02% of their portfolio WINNIPEG, A2 826,600826.6k $9.4m $9.4m 0.02% Reduced -116.7k -116,700
59 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 825,853825.9k $9.4m $9.4m 0.00% Added +811.0k +810,953
60 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 775,604775.6k $8.8m $8.8m 0.00% Reduced -20.1k -20,148
61 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 695,913695.9k $7.9m $7.9m 0.00% Reduced -4.1k -4,074
62 California Public Employees Retirement System 0.01% of their portfolio Sacramento, CA 685,532685.5k $7.8m $7.8m 0.01% Reduced -95.6k -95,585
63 TB Alternative Assets Ltd. 1.93% of their portfolio HONG KONG, K3 680,500680.5k $7.7m $7.7m 1.93% Reduced -56.6k -56,600
64 CREDIT SUISSE AG/ 0.01% of their portfolio ZURICH, V8 677,122677.1k $7.7m $7.7m 0.01% Reduced -56.7k -56,668
65 All-Stars Investment Ltd 3.01% of their portfolio HONG KONG, K3 664,000664.0k $7.5m $7.5m 3.01% Unchanged
66 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 657,667657.7k $7.5m $7.5m 0.00% Added +21.2k +21,156
67 MARSHALL WACE, LLP 0.01% of their portfolio LONDON, X0 651,380651.4k $7.4m $7.4m 0.01% Reduced -426.3k -426,257
68 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 628,033628.0k $7.1m $7.1m 0.01% Added +281.8k +281,753
69 Perseverance Asset Management International 1.27% of their portfolio GEORGE TOWN, E9 621,038621.0k $7.0m $7.0m 1.27% Reduced -1.0m -1,002,793
70 Bridgewater Associates, LP 0.03% of their portfolio Westport, CT 577,987578.0k $6.6m $6.6m 0.03% Reduced -346.7k -346,666
71 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 559,200559.2k $6.3m $6.3m 0.01% Reduced -1.3m -1,343,064
72 BARINGS LLC 0.16% of their portfolio CHARLOTTE, NC 553,053553.1k $6.3m $6.3m 0.16% New
73 CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio TORONTO ONTARIO, A6 548,210548.2k $6.2m $6.2m 0.01% Reduced -1.0m -1,034,445
74 Trexquant Investment LP 0.11% of their portfolio STAMFORD, CT 493,671493.7k $5.6m $5.6m 0.11% New
75 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 481,684481.7k $5.5m $5.5m 0.00% Reduced -68.3k -68,312
76 Allianz Asset Management GmbH 0.01% of their portfolio MUNICH, 2M 481,457481.5k $5.5m $5.5m 0.01% New
77 AI-Squared Management Ltd 4.93% of their portfolio HONG KONG, K3 471,500471.5k $5.4m $5.4m 4.93% New
78 Carmignac Gestion 0.08% of their portfolio PARIS, I0 445,750445.8k $5.1m $5.1m 0.08% Added +17.5k +17,500
79 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 427,027427.0k $4.8m $4.8m 0.00% Added +114.2k +114,154
80 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 418,683418.7k $4.8m $4.8m 0.00% Reduced -105.4k -105,424
81 Sumitomo Mitsui DS Asset Management Company, Ltd 0.06% of their portfolio TOKYO, M0 410,631410.6k $4.7m $4.7m 0.06% Added +136.5k +136,500
82 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 407,989408.0k $4.6m $4.6m 0.00% Reduced -142.6k -142,550
83 PINEBRIDGE INVESTMENTS, L.P. 0.03% of their portfolio NEW YORK, NY 372,174372.2k $4.2m $4.2m 0.03% New
84 EDMOND DE ROTHSCHILD HOLDING S.A. 0.07% of their portfolio CHAMBESY, V8 369,300369.3k $4.2m $4.2m 0.07% Added +2.8k +2,800
85 Walleye Capital LLC 0.05% of their portfolio NEW YORK, NY 369,095369.1k $4.2m $4.2m 0.05% New
86 SEI INVESTMENTS CO 0.01% of their portfolio OAKS, PA 354,582354.6k $4.0m $4.0m 0.01% Added +136.2k +136,194
87 E Fund Management (Hong Kong) Co., Ltd. 2.58% of their portfolio CENTRAL, K3 346,466346.5k $3.9m $3.9m 2.58% Reduced -87.2k -87,228
88 Korea Investment CORP 0.01% of their portfolio SEOUL, M5 317,811317.8k $3.6m $3.6m 0.01% Reduced -27.6k -27,600
89 SG Americas Securities, LLC 0.02% of their portfolio NEW YORK, NY 313,828313.8k $3.6m $3.6m 0.02% Added +121.7k +121,705
90 OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.10% of their portfolio CHICAGO, IL 312,000312.0k $3.5m $3.5m 0.10% Added +85.8k +85,832
91 STOREBRAND ASSET MANAGEMENT AS 0.01% of their portfolio LYSAKER, Q8 305,254305.3k $3.5m $3.5m 0.01% Reduced -4.9k -4,878
92 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 299,606299.6k $3.4m $3.4m 0.00% Added +287.3k +287,308
93 AVIVA PLC 0.01% of their portfolio LONDON, X0 298,151298.2k $3.4m $3.4m 0.01% Added +9.5k +9,500
94 Perpetual Ltd 0.03% of their portfolio SYDNEY, NEW SOUTH WALES, C3 285,040285.0k $3.2m $3.2m 0.03% Added +15.5k +15,515
95 SEVEN EIGHT CAPITAL, LP 0.32% of their portfolio New York, NY 273,949273.9k $3.1m $3.1m 0.32% Added +42.1k +42,126
96 Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio TOKYO, M0 267,204267.2k $3.0m $3.0m 0.00% Added +37.4k +37,446
97 Polymer Capital Management (HK) LTD 0.76% of their portfolio HONG KONG, K3 265,300265.3k $3.0m $3.0m 0.76% Reduced -250.1k -250,066
98 Quantbot Technologies LP 0.16% of their portfolio NEW YORK, NY 257,168257.2k $2.9m $2.9m 0.16% New
99 Beck Bode, LLC 0.59% of their portfolio DEDHAM, MA 256,230256.2k $2.9m $2.9m 0.59% New
100 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 252,268252.3k $2.9m $2.9m 0.01% Added +117.0k +116,967