TAL EDUCATION GROUP TAL
SPONSORED ADS · ADR · CUSIP 874080104 · ISIN US8740801043
After-school education institution of China
- IndustryServices-Educational Services
- HeadquartersBeijing, People's Republic of China
- Founded2003
- Websiteen.100tal.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 ($1.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $12.95. Options: 18 managers hold calls ($29.0m notional), 15 hold puts ($16.6m).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 191 |
| Q4 2022 | 221 |
| Q1 2023 | 194 |
| Q2 2023 | 191 |
| Q3 2023 | 195 |
| Q4 2023 | 220 |
| Q1 2024 | 241 |
| Q2 2024 | 242 |
| Q3 2024 | 237 |
| Q4 2024 | 233 |
| Q1 2025 | 252 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 54 | 102 |
| Q3 2023 | 78 | 101 |
| Q4 2023 | 111 | 89 |
| Q1 2024 | 123 | 114 |
| Q2 2024 | 110 | 116 |
| Q3 2024 | 101 | 134 |
| Q4 2024 | 115 | 116 |
| Q1 2025 | 145 | 101 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $39.3m | $29.5m | 0.75 |
| Q3 2024 | $38.0m | $56.7m | 1.49 |
| Q4 2024 | $57.0m | $75.6m | 1.33 |
| Q1 2025 | $29.0m | $16.6m | 0.57 |
Biggest buyers
| FMR LLC | Added | +12.1m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +12.1m |
| Mirae Asset Global Investments Co., Ltd. | Added | +5.8m |
| BANK OF AMERICA CORP /DE/ | Added | +4.2m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | New | +4.0m |
| CITIGROUP INC | Added | +4.0m |
| Aspex Management (HK) Ltd | Added | +3.6m |
| MARSHALL WACE, LLP | New | +3.0m |
| TWO SIGMA INVESTMENTS, LP | New | +2.1m |
| UBS Group AG | Added | +1.8m |
Biggest sellers
| GOLDMAN SACHS GROUP INC | Reduced | -10.3m |
| MORGAN STANLEY | Reduced | -6.1m |
| Tiger Pacific Capital LP | Reduced | -5.1m |
| TT International Asset Management LTD | Reduced | -3.9m |
| FengHe Fund Management Pte. Ltd. | Reduced | -3.1m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Reduced | -2.7m |
| Discerene Group LP | Reduced | -2.3m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.9m |
| Yiheng Capital Management, L.P. | Reduced | -1.9m |
| 53 HOUSE LLP | Sold out | -1.5m |
Biggest calls
| IMC-Chicago, LLC | Added | $5.1m384.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $4.5m340.5k shares |
| GROUP ONE TRADING LLC | Reduced | $3.4m259.8k shares |
| Parallax Volatility Advisers, L.P. | Reduced | $3.3m252.7k shares |
| BNP PARIBAS FINANCIAL MARKETS | First filing | $2.6m2.0k shares |
| CITADEL ADVISORS LLC | Reduced | $1.8m138.1k shares |
| PEAK6 LLC | Reduced | $1.6m120.2k shares |
| GARDA CAPITAL PARTNERS LP | New | $1.5m111.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $1.4m103.8k shares |
| JANE STREET GROUP, LLC | Reduced | $758.3k57.4k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.6m274.9k shares |
| JANE STREET GROUP, LLC | Added | $3.5m264.4k shares |
| CITADEL ADVISORS LLC | Reduced | $1.8m139.5k shares |
| IMC-Chicago, LLC | Reduced | $1.5m112.9k shares |
| GARDA CAPITAL PARTNERS LP | New | $1.5m111.0k shares |
| BNP PARIBAS FINANCIAL MARKETS | First filing | $1.2m877 shares |
| GROUP ONE TRADING LLC | Reduced | $784.7k59.4k shares |
| Balyasny Asset Management L.P. | New | $651.3k49.3k shares |
| WOLVERINE TRADING, LLC | Added | $619.9k46.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $560.0k42.4k 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 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 Q1 2025.
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| FMR LLC 0.02% of their portfolio | 23.7m $312.7m | Added +12.1m |
| Krane Funds Advisors LLC 8.14% of their portfolio | 21.4m $283.1m | Added +1.1m |
| MORGAN STANLEY 0.02% of their portfolio | 21.3m $281.3m | Reduced -6.1m |
| BlackRock, Inc. 0.01% of their portfolio | 21.2m $280.5m | Added +807.7k |
| VANGUARD GROUP INC 0.00% of their portfolio | 17.1m $226.4m | Added +290.5k |
| Aspex Management (HK) Ltd 4.84% of their portfolio | 14.2m $187.6m | Added +3.6m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.04% of their portfolio | 12.6m $166.8m | Added +12.1m |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 12.3m $162.5m | Added +4.2m |
| Tiger Pacific Capital LP 41.36% of their portfolio | 8.7m $114.8m | Reduced -5.1m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.25% of their portfolio | 8.4m $111.2m | Reduced -1.5m |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 7.5m $98.7m | Reduced -10.3m |
| STATE STREET CORP 0.00% of their portfolio | 7.4m $97.4m | Added +103.0k |
| NORGES BANK 0.01% of their portfolio | 7.3m $95.9m | Added +10.3k |
| Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio | 6.0m $699.0k | Added +5.8m |
| MACQUARIE GROUP LTD 0.10% of their portfolio | 6.0m $79.4m | Reduced -4.9k |
| UBS Group AG 0.02% of their portfolio | 5.8m $76.8m | Added +1.8m |
| CITIGROUP INC 0.05% of their portfolio | 5.0m $65.4m | Added +4.0m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.04% of their portfolio | 4.0m $52.6m | New |
| NATIONAL BANK OF CANADA /FI/ 0.06% of their portfolio | 3.9m $51.1m | Added +156.6k |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 3.2m $42.5m | First filing |
| MARSHALL WACE, LLP 0.05% of their portfolio | 3.0m $39.8m | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 2.9m $38.5m | Added +299.5k |
| MY.Alpha Management HK Advisors Ltd 17.97% of their portfolio | 2.7m $36.1m | Added +1.2m |
| HSBC HOLDINGS PLC 0.02% of their portfolio | 2.6m $34.6m | Added +339.5k |
| Legal & General Group Plc 0.01% of their portfolio | 2.5m $33.5m | Added +53.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.5m $32.8m | Added +37.4k |
| Pinpoint Asset Management Ltd 5.71% of their portfolio | 2.5m $32.9m | Added +384.6k |
| MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio | 2.5m $32.8m | Reduced -1.9m |
| Greenwoods Asset Management Hong Kong Ltd. 1.00% of their portfolio | 2.4m $32.3m | Reduced -872.1k |
| TWO SIGMA INVESTMENTS, LP 0.06% of their portfolio | 2.1m $28.3m | New |
| RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio | 2.0m $27.0m | Reduced -102.5k |
| Amundi 0.01% of their portfolio | 2.0m $27.3m | Reduced -524.0k |
| E Fund Management Co., Ltd. 1.27% of their portfolio | 2.0m $26.5m | Reduced -470.2k |
| CoreView Capital Management Ltd 2.64% of their portfolio | 2.0m $26.5m | Added +418.4k |
| Monolith Management Ltd 17.48% of their portfolio | 2.0m $26.1m | Reduced -499.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 2.0m $25.8m | Reduced -11.6k |
| HCEP Management Ltd 14.92% of their portfolio | 1.9m $25.8m | Reduced -450.0k |
| Robeco Institutional Asset Management B.V. 0.05% of their portfolio | 1.9m $24.8m | Added +1.7m |
| ACADIAN ASSET MANAGEMENT LLC 0.07% of their portfolio | 1.9m $24.7m | Added +648.9k |
| Invesco Ltd. 0.00% of their portfolio | 1.6m $21.5m | Added +1.2m |
| Connor, Clark & Lunn Investment Management Ltd. 0.09% of their portfolio | 1.6m $21.0m | Added +558.0k |
| Polymer Capital Management (HK) LTD 3.28% of their portfolio | 1.4m $18.9m | Added +497.7k |
| Discerene Group LP 1.87% of their portfolio | 1.4m $17.9m | Reduced -2.3m |
| Man Group plc 0.05% of their portfolio | 1.3m $17.1m | Added +169.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 1.3m $16.6m | Reduced -2.7m |
| Anatole Investment Management Ltd 4.50% of their portfolio | 1.2m $16.3m | New |
| Harvest Fund Management Co., Ltd 0.76% of their portfolio | 1.2m $15.3m | Reduced -882.9k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 1.1m $14.9m | Reduced -136.5k |
| BARCLAYS PLC 0.01% of their portfolio | 986.7k $13.0m | Added +65.7k |
| D. E. Shaw & Co., Inc. 0.02% of their portfolio | 980.5k $13.0m | New |
| TT International Asset Management LTD 1.92% of their portfolio | 973.8k $12.9m | Reduced -3.9m |
| Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio | 967.3k $12.8m | Reduced -2.1k |
| Fullerton Fund Management Co Ltd. 0.80% of their portfolio | 947.0k $12.5m | Added +656.1k |
| Swiss National Bank 0.01% of their portfolio | 935.6k $12.4m | Unchanged |
| MACKENZIE FINANCIAL CORP 0.02% of their portfolio | 877.6k $11.6m | New |
| Jump Financial, LLC 0.17% of their portfolio | 853.1k $11.3m | Added +597.1k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 834.2k $11.0m | Added +28.4k |
| Nuveen, LLC 0.00% of their portfolio | 824.2k $10.9m | First filing |
| FengHe Fund Management Pte. Ltd. 3.96% of their portfolio | 800.0k $10.6m | Reduced -3.1m |
| Candriam S.C.A. 0.06% of their portfolio | 738.0k $9.7m | New |
| CANADA LIFE ASSURANCE Co 0.02% of their portfolio | 736.6k $9.7m | Reduced -41.2k |
| FIL Ltd 0.01% of their portfolio | 701.9k $9.3m | Added +631.2k |
| AI-Squared Management Ltd 12.02% of their portfolio | 695.0k $9.2m | Added +73.9k |
| Oasis Management Co Ltd. 2.76% of their portfolio | 638.8k $8.4m | Added +87.8k |
| PINEBRIDGE INVESTMENTS, L.P. 0.07% of their portfolio | 629.4k $8.3m | New |
| Long Focus Capital Management, LLC 0.56% of their portfolio | 627.3k $8.3m | Added +32.0k |
| Bridgewater Associates, LP 0.04% of their portfolio | 575.6k $7.6m | Added +168.7k |
| TWO SIGMA ADVISERS, LP 0.02% of their portfolio | 552.5k $7.3m | Added +496.6k |
| California Public Employees Retirement System 0.01% of their portfolio | 542.9k $7.2m | Reduced -21.3k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 533.4k $7.0m | Added +18 |
| Pictet Asset Management Holding SA 0.01% of their portfolio | 509.0k $6.7m | Reduced -159.1k |
| Perseverance Asset Management International 0.86% of their portfolio | 499.7k $6.6m | Reduced -200.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 496.5k $6.6m | Unchanged |
| Bank of New York Mellon Corp 0.00% of their portfolio | 490.8k $6.5m | Added +18.4k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.11% of their portfolio | 484.7k $6.4m | New |
| Beck Bode, LLC 1.12% of their portfolio | 455.5k $6.0m | Reduced -72.5k |
| GF FUND MANAGEMENT CO. LTD. 0.14% of their portfolio | 436.2k $5.8m | Reduced -271.9k |
| Shay Capital LLC 1.64% of their portfolio | 424.9k $5.6m | Reduced -352.6k |
| Trexquant Investment LP 0.06% of their portfolio | 417.8k $5.5m | Reduced -56.3k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.01% of their portfolio | 415.9k $5.5m | Added +63.0k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.01% of their portfolio | 413.4k $5.5m | Added +97.8k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 354.5k $4.7m | Added +155.8k |
| Sumitomo Mitsui DS Asset Management Company, Ltd 0.05% of their portfolio | 342.9k $4.5m | Added +2.5k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 324.8k $4.3m | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 322.0k $4.3m | Added +88.9k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 321.5k $4.2m | New |
| GAM Holding AG 0.32% of their portfolio | 312.0k $4.1m | New |
| Yiheng Capital Management, L.P. 1.44% of their portfolio | 309.2k $4.1m | Reduced -1.9m |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.01% of their portfolio | 303.7k $4.0m | Added +12.9k |
| STOREBRAND ASSET MANAGEMENT AS 0.01% of their portfolio | 301.3k $4.0m | Added +90.5k |
| AVIVA PLC 0.01% of their portfolio | 287.5k $3.8m | Added +3.9k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 272.6k $3.6m | Added +94.6k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 271.9k $3.6m | Added +103.5k |
| Aberdeen Group plc 0.01% of their portfolio | 267.3k $3.5m | Added +70.6k |
| Korea Investment CORP 0.01% of their portfolio | 266.1k $3.5m | Reduced -19.0k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 265.2k $3.5m | Added +10.9k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 261.6k $3.5m | Added +51.9k |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 251.7k $3.3m | New |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio | 246.8k $3.3m | Reduced -566.5k |
| DNCA FINANCE 0.27% of their portfolio | 245.9k $3.2m | Reduced -266.0k |