DLOCAL LTD DLO
CLASS A COM · Common Stock · CUSIP G29018101 · ISIN KYG290181018
Uruguayan financial technology company
- SectorIndustrials
- IndustryServices-Business Services, NEC
- HeadquartersUruguay
- Websitedlocal.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 ($2.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $11.34. Options: 14 managers hold calls ($67.7m notional), 12 hold puts ($36.8m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 143 |
| Q4 2022 | 111 |
| Q1 2023 | 98 |
| Q2 2023 | 112 |
| Q3 2023 | 111 |
| Q4 2023 | 125 |
| Q1 2024 | 116 |
| Q2 2024 | 113 |
| Q3 2024 | 107 |
| Q4 2024 | 108 |
| Q1 2025 | 98 |
| Q2 2025 | 122 |
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 | 56 | 66 |
| Q4 2023 | 68 | 58 |
| Q1 2024 | 64 | 67 |
| Q2 2024 | 66 | 63 |
| Q3 2024 | 56 | 56 |
| Q4 2024 | 44 | 67 |
| Q1 2025 | 45 | 60 |
| Q2 2025 | 72 | 43 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $50.2m | $23.3m | 0.46 |
| Q4 2024 | $63.5m | $31.5m | 0.50 |
| Q1 2025 | $41.0m | $25.4m | 0.62 |
| Q2 2025 | $67.7m | $36.8m | 0.54 |
Biggest buyers
| BANK OF AMERICA CORP /DE/ | Added | +7.1m |
| MARSHALL WACE, LLP | Added | +1.0m |
| J. Goldman & Co LP | New | +1.0m |
| Cubist Systematic Strategies, LLC | New | +449.1k |
| Fourth Sail Capital LP | Added | +390.3k |
| Balyasny Asset Management L.P. | Added | +350.6k |
| Proem Advisors LLC | New | +313.3k |
| MILLENNIUM MANAGEMENT LLC | Added | +303.9k |
| D. E. Shaw & Co., Inc. | New | +274.2k |
| HRT FINANCIAL LP | Added | +221.1k |
Biggest sellers
| Azora Capital LP | Sold out | -2.0m |
| DEUTSCHE BANK AG\ | Sold out | -1.0m |
| STATE STREET CORP | Reduced | -376.2k |
| TWO SIGMA ADVISERS, LP | Reduced | -354.0k |
| CITADEL ADVISORS LLC | Reduced | -262.8k |
| TWO SIGMA INVESTMENTS, LP | Reduced | -261.0k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Reduced | -251.6k |
| GOLDMAN SACHS GROUP INC | Reduced | -197.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Sold out | -148.0k |
| BlackRock, Inc. | Reduced | -133.2k |
Biggest calls
| JANE STREET GROUP, LLC | Added | $21.1m1.9m shares |
| J. Goldman & Co LP | New | $11.3m1.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $8.0m703.8k shares |
| PEAK6 LLC | Added | $7.5m665.2k shares |
| CITADEL ADVISORS LLC | Added | $4.8m423.3k shares |
| IMC-Chicago, LLC | Added | $3.6m313.9k shares |
| SIMPLEX TRADING, LLC | Reduced | $3.5m310.6k shares |
| GROUP ONE TRADING LLC | Reduced | $3.0m268.8k shares |
| Walleye Trading LLC | Added | $2.0m172.4k shares |
| WOLVERINE TRADING, LLC | New | $1.6m136.7k shares |
Biggest puts
| JANE STREET GROUP, LLC | Added | $20.0m1.8m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $8.9m782.6k shares |
| CITADEL ADVISORS LLC | Added | $2.4m215.7k shares |
| PEAK6 LLC | Added | $2.4m215.0k shares |
| IMC-Chicago, LLC | Added | $971.8k85.7k shares |
| GROUP ONE TRADING LLC | Added | $699.7k61.7k shares |
| SIMPLEX TRADING, LLC | Added | $593.0k52.3k shares |
| Walleye Trading LLC | Added | $347.0k30.6k shares |
| Parallax Volatility Advisers, L.P. | Unchanged | $226.8k20.0k shares |
| WOLVERINE TRADING, LLC | New | $196.3k17.1k 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.
| Holder | Stake |
|---|---|
| Fogel Kaplan Sergio Enrique 13G · exempt (held before listing) filed 2025-02-14 | 25.4% |
GENERAL ATLANTIC, L.P.
13D · may seek influence
-6.9 pts · filed 2026-08-19
Stated purposeNo material change. Full filing |
21.4% |
| Fernandez Balague Emiliano Sebastian 13G · exempt (held before listing) filed 2025-02-14 | 10.8% |
| Azar Alberto Eduardo 13G · exempt (held before listing) filed 2026-05-04 | 10.3% |
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 |
|---|---|---|
| GENERAL ATLANTIC, L.P. 19.97% of their portfolio | 63.9m $724.7m | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 7.3m $83.2m | Added +7.1m |
| Ribbit Management Company, LLC 3.00% of their portfolio | 3.9m $44.1m | Unchanged |
| BAILLIE GIFFORD & CO 0.02% of their portfolio | 2.7m $30.6m | Added +97.0k |
| MARSHALL WACE, LLP 0.04% of their portfolio | 2.7m $30.4m | Added +1.0m |
| Fourth Sail Capital LP 3.63% of their portfolio | 1.5m $17.5m | Added +390.3k |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 1.2m $14.0m | Added +124.4k |
| MORGAN STANLEY 0.00% of their portfolio | 1.1m $12.7m | Added +28.9k |
| Tikvah Management LLC 3.85% of their portfolio | 1.1m $12.0m | Unchanged |
| J. Goldman & Co LP 0.36% of their portfolio | 1.0m $11.5m | New |
| Summit Trail Advisors, LLC 0.18% of their portfolio | 940.8k $10.7m | Unchanged |
| Bond Capital Management, LP 4.87% of their portfolio | 927.5k $10.5m | Unchanged |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 866.8k $9.8m | Added +303.9k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 825.8k $9.4m | Added +101.6k |
| ALKEON CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 823.8k $9.3m | Unchanged |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 747.8k $8.5m | Reduced -261.0k |
| TB Capital Gestao de Recursos Ltda. 6.31% of their portfolio | 641.2k $7.3m | First filing |
| POLEN CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 605.9k $6.9m | Reduced -21.7k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 564.0k $6.4m | Added +36.3k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 526.0k $6.0m | Added +202.0k |
| Lane Generational LLC 5.56% of their portfolio | 525.5k $6.0m | Unchanged |
| Holocene Advisors, LP 0.01% of their portfolio | 491.7k $5.6m | Reduced -65.3k |
| Cubist Systematic Strategies, LLC 0.06% of their portfolio | 449.1k $5.1m | New |
| Balyasny Asset Management L.P. 0.01% of their portfolio | 437.1k $5.0m | Added +350.6k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 394.8k $4.5m | Added +34.9k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 378.1k $4.3m | Reduced -197.0k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 359.7k $4.1m | Reduced -262.8k |
| TWO SIGMA ADVISERS, LP 0.01% of their portfolio | 353.1k $4.0m | Reduced -354.0k |
| PDT Partners, LLC 0.21% of their portfolio | 332.7k $3.8m | Reduced -3.5k |
| HRT FINANCIAL LP 0.02% of their portfolio | 314.3k $3.6m | Added +221.1k |
| Proem Advisors LLC 0.94% of their portfolio | 313.3k $3.6m | New |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 274.2k $3.1m | New |
| UBS Group AG 0.00% of their portfolio | 216.7k $2.5m | Added +101.4k |
| Point72 Asset Management, L.P. 0.01% of their portfolio | 191.8k $2.2m | New |
| STATE STREET CORP 0.00% of their portfolio | 169.3k $1.9m | Reduced -376.2k |
| GSA CAPITAL PARTNERS LLP 0.13% of their portfolio | 157.4k $1.8m | Added +125.4k |
| BlackRock, Inc. 0.00% of their portfolio | 151.4k $1.7m | Reduced -133.2k |
| Main Management ETF Advisors, LLC 0.07% of their portfolio | 146.6k $1.7m | Added +2.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 142.7k $1.6m | Added +1.1k |
| Jefferies Financial Group Inc. 0.03% of their portfolio | 137.7k $1.6m | New |
| Caption Management, LLC 0.14% of their portfolio | 131.2k $1.5m | Added +120.0k |
| IMC-Chicago, LLC 0.04% of their portfolio | 125.8k $1.4m | Added +89.4k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 119.8k $1.4m | Reduced -2.7k |
| Penserra Capital Management LLC 0.02% of their portfolio | 112.4k $1.3m | Reduced -6.3k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 102.1k $1.2m | Reduced -3.7k |
| AXA S.A. 0.00% of their portfolio | 82.3k $932.9k | New |
| Squarepoint Ops LLC 0.00% of their portfolio | 73.2k $829.6k | New |
| Walleye Capital LLC 0.01% of their portfolio | 70.8k $803.1k | Added +70.7k |
| VANGUARD GROUP INC 0.00% of their portfolio | 69.8k $792.1k | Reduced -14.4k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 63.0k $713.9k | New |
| SIMPLEX TRADING, LLC 0.02% of their portfolio | 58.0k $658.0k | New |
| Verition Fund Management LLC 0.00% of their portfolio | 47.9k $542.9k | Added +14.2k |
| FOX RUN MANAGEMENT, L.L.C. 0.09% of their portfolio | 47.3k $536.7k | Added +18.0k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio | 45.6k $516.6k | Reduced -251.6k |
| Absolute Gestao de Investimentos Ltda. 0.17% of their portfolio | 45.0k $510.8k | New |
| Yorktown Management & Research Co Inc 0.45% of their portfolio | 41.5k $470.6k | Unchanged |
| Virtu Financial LLC 0.02% of their portfolio | 38.5k $437.0k | Added +269 |
| Dodge & Cox 0.00% of their portfolio | 36.7k $416.2k | Reduced -8.2k |
| Invesco Ltd. 0.00% of their portfolio | 36.0k $408.1k | Reduced -10.4k |
| &PARTNERS 0.00% of their portfolio | 35.2k $399.0k | New |
| CORSAIR CAPITAL MANAGEMENT, L.P. 0.07% of their portfolio | 30.0k $340.2k | New |
| State of Wyoming 0.04% of their portfolio | 27.1k $307.5k | Added +8.4k |
| GROUP ONE TRADING LLC 0.01% of their portfolio | 26.9k $304.9k | New |
| WINTON GROUP Ltd 0.01% of their portfolio | 25.7k $291.0k | New |
| Bayesian Capital Management, LP 0.04% of their portfolio | 25.1k $284.7k | New |
| Petrus Trust Company, LTA 0.03% of their portfolio | 24.8k $280.8k | New |
| EXCHANGE TRADED CONCEPTS, LLC 0.00% of their portfolio | 24.2k $274.6k | New |
| Vident Advisory, LLC 0.00% of their portfolio | 24.2k $274.4k | Added +7.9k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio | 24.0k $271.7k | Added +298 |
| SG Americas Securities, LLC 0.00% of their portfolio | 23.4k $265.0k | Reduced -6.2k |
| Point72 Hong Kong Ltd 0.02% of their portfolio | 23.3k $264.2k | New |
| Quantbot Technologies LP 0.01% of their portfolio | 22.4k $254.1k | New |
| PharVision Advisers, LLC 0.34% of their portfolio | 21.0k $238.0k | New |
| ExodusPoint Capital Management, LP 0.00% of their portfolio | 20.9k $237.0k | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 19.7k $224.0k | Reduced -29.0k |
| Sanctuary Advisors, LLC 0.00% of their portfolio | 19.2k $217.4k | New |
| Mariner, LLC 0.00% of their portfolio | 18.6k $211.0k | Reduced -5.5k |
| Legal & General Group Plc 0.00% of their portfolio | 18.3k $207.7k | Reduced -1.4k |
| TUDOR INVESTMENT CORP ET AL 0.00% of their portfolio | 18.1k $204.8k | Reduced -12.6k |
| WOLVERINE TRADING, LLC 0.01% of their portfolio | 17.8k $204.1k | New |
| Susquehanna Portfolio Strategies, LLC 0.00% of their portfolio | 17.7k $200.7k | New |
| SBI Securities Co., Ltd. 0.01% of their portfolio | 17.1k $194.4k | Reduced -290 |
| Krane Funds Advisors LLC 0.01% of their portfolio | 17.1k $194.4k | Reduced -2.0k |
| Fieldview Capital Management, LLC 0.03% of their portfolio | 17.1k $194.0k | New |
| INSIGNEO ADVISORY SERVICES, LLC 0.02% of their portfolio | 16.0k $181.6k | New |
| GW HENSSLER & ASSOCIATES LTD 0.01% of their portfolio | 15.9k $180.0k | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 12.2k $138.1k | Reduced -85.3k |
| Engineers Gate Manager LP 0.00% of their portfolio | 11.7k $132.5k | Reduced -40.8k |
| Man Group plc 0.00% of their portfolio | 11.5k $130.1k | New |
| R Squared Ltd 0.07% of their portfolio | 11.2k $126.7k | Not comparable |
| BOOTHBAY FUND MANAGEMENT, LLC 0.00% of their portfolio | 10.8k $122.1k | New |
| CWM, LLC 0.00% of their portfolio | 10.0k $113.0k | New |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 9.1k $103.3k | Added +1.3k |
| Federation des caisses Desjardins du Quebec 0.00% of their portfolio | 7.4k $83.9k | Unchanged |
| Activest Wealth Management 0.02% of their portfolio | 7.1k $80.1k | Added +7.1k |
| Quarry LP 0.02% of their portfolio | 6.9k $78.6k | New |
| Parvin Asset Management, LLC 0.06% of their portfolio | 4.9k $55.6k | Unchanged |
| CITIGROUP INC 0.00% of their portfolio | 4.3k $48.9k | Added +183 |
| LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio | 3.8k $43.0k | New |
| Ridgewood Investments LLC 0.02% of their portfolio | 3.8k $43.0k | Unchanged |