Vault-13

DLOCAL LTD DLO

CLASS A COM · Common Stock · CUSIP G29018101 · ISIN KYG290181018

Uruguayan financial technology company

122 institutional holders +24 vs Q1 2025
101,744,455101.7m shares reported held*
$1.2bnreported value*
36 new 36 added 29 reduced 14 sold out net bought ≈ $90.4m (+8.0m 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 ($2.5m 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

050100150Q3 22: 143Q4 22: 111Q1 23: 98Q2 23: 112Q3 23: 111Q4 23: 125Q1 24: 116Q2 24: 113Q3 24: 107Q4 24: 108Q1 25: 98Q2 25: 122122Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022143
Q4 2022111
Q1 202398
Q2 2023112
Q3 2023111
Q4 2023125
Q1 2024116
Q2 2024113
Q3 2024107
Q4 2024108
Q1 202598
Q2 2025122

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q3 23: 56 bought or addedQ3 23: 66 cut or sold outQ4 23: 68 bought or addedQ4 23: 58 cut or sold outQ4 23Q1 24: 64 bought or addedQ1 24: 67 cut or sold outQ2 24: 66 bought or addedQ2 24: 63 cut or sold outQ2 24Q3 24: 56 bought or addedQ3 24: 56 cut or sold outQ4 24: 44 bought or addedQ4 24: 67 cut or sold outQ4 24Q1 25: 45 bought or addedQ1 25: 60 cut or sold outQ2 25: 72 bought or addedQ2 25: 43 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20235666
Q4 20236858
Q1 20246467
Q2 20246663
Q3 20245656
Q4 20244467
Q1 20254560
Q2 20257243

Calls vs puts

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

CallsPuts
$0$20m$40m$60m$80mQ3 24 calls: $50.2mQ3 24 puts: $23.3mQ3 24P/C 0.46Q4 24 calls: $63.5mQ4 24 puts: $31.5mQ4 24P/C 0.50Q1 25 calls: $41.0mQ1 25 puts: $25.4mQ1 25P/C 0.62Q2 25 calls: $67.7mQ2 25 puts: $36.8mQ2 25P/C 0.54
Numbers
QuarterCallsPutsP/C
Q3 2024$50.2m$23.3m0.46
Q4 2024$63.5m$31.5m0.50
Q1 2025$41.0m$25.4m0.62
Q2 2025$67.7m$36.8m0.54

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +7,111,896+7.1m
MARSHALL WACE, LLP Added +1,047,692+1.0m
J. Goldman & Co LP New +1,014,813+1.0m
Cubist Systematic Strategies, LLC New +449,106+449.1k
Fourth Sail Capital LP Added +390,270+390.3k
Balyasny Asset Management L.P. Added +350,588+350.6k
Proem Advisors LLC New +313,298+313.3k
MILLENNIUM MANAGEMENT LLC Added +303,879+303.9k
D. E. Shaw & Co., Inc. New +274,175+274.2k
HRT FINANCIAL LP Added +221,076+221.1k

Biggest sellers

Azora Capital LP Sold out -2,015,004-2.0m
DEUTSCHE BANK AG\ Sold out -1,014,873-1.0m
STATE STREET CORP Reduced -376,199-376.2k
TWO SIGMA ADVISERS, LP Reduced -353,993-354.0k
CITADEL ADVISORS LLC Reduced -262,757-262.8k
TWO SIGMA INVESTMENTS, LP Reduced -260,994-261.0k
VOLORIDGE INVESTMENT MANAGEMENT, LLC Reduced -251,616-251.6k
GOLDMAN SACHS GROUP INC Reduced -197,021-197.0k
PRICE T ROWE ASSOCIATES INC /MD/ Sold out -147,953-148.0k
BlackRock, Inc. Reduced -133,175-133.2k

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.

HolderStakeChangeShares Last filed
Fogel Kaplan Sergio Enrique 13G · exempt (held before listing) filed 2025-02-14 25.4% 50.9m≈ $661.4m 2025-02-14
GENERAL ATLANTIC, L.P. 13D · may seek influence -6.9 pts · filed 2026-08-19
Stated purposeNo material change. Full filing
21.4% -6.9 pts 36.8m≈ $478.4m 2026-08-19
Fernandez Balague Emiliano Sebastian 13G · exempt (held before listing) filed 2025-02-14 10.8% 16.3m≈ $212.4m 2025-02-14
Azar Alberto Eduardo 13G · exempt (held before listing) filed 2026-05-04 10.3% 18.5m≈ $240.1m 2026-05-04

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

#ManagerLocationShares Value% of their portfolioChangeShares change
1 GENERAL ATLANTIC, L.P. 19.97% of their portfolio New York, NY 63,906,69563.9m $724.7m $724.7m 19.97% Unchanged
2 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 7,335,9587.3m $83.2m $83.2m 0.01% Added +7.1m +7,111,896
3 Ribbit Management Company, LLC 3.00% of their portfolio PALO ALTO, CA 3,891,9003.9m $44.1m $44.1m 3.00% Unchanged
4 BAILLIE GIFFORD & CO 0.02% of their portfolio EDINBURGH, X0 2,699,6072.7m $30.6m $30.6m 0.02% Added +97.0k +97,044
5 MARSHALL WACE, LLP 0.04% of their portfolio LONDON, X0 2,683,9882.7m $30.4m $30.4m 0.04% Added +1.0m +1,047,692
6 Fourth Sail Capital LP 3.63% of their portfolio GRAND CAYMAN, E9 1,546,6391.5m $17.5m $17.5m 3.63% Added +390.3k +390,270
7 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 1,230,6231.2m $14.0m $14.0m 0.02% Added +124.4k +124,381
8 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,121,0671.1m $12.7m $12.7m 0.00% Added +28.9k +28,886
9 Tikvah Management LLC 3.85% of their portfolio Charlotte, NC 1,054,4991.1m $12.0m $12.0m 3.85% Unchanged
10 J. Goldman & Co LP 0.36% of their portfolio NEW YORK, NY 1,014,8131.0m $11.5m $11.5m 0.36% New
11 Summit Trail Advisors, LLC 0.18% of their portfolio NEW YORK, NY 940,820940.8k $10.7m $10.7m 0.18% Unchanged
12 Bond Capital Management, LP 4.87% of their portfolio San Francisco, CA 927,500927.5k $10.5m $10.5m 4.87% Unchanged
13 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 866,818866.8k $9.8m $9.8m 0.01% Added +303.9k +303,879
14 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 825,805825.8k $9.4m $9.4m 0.01% Added +101.6k +101,617
15 ALKEON CAPITAL MANAGEMENT LLC 0.05% of their portfolio New York, NY 823,837823.8k $9.3m $9.3m 0.05% Unchanged
16 TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio NEW YORK, NY 747,799747.8k $8.5m $8.5m 0.02% Reduced -261.0k -260,994
17 TB Capital Gestao de Recursos Ltda. 6.31% of their portfolio Rio de Janeiro, D5 641,185641.2k $7.3m $7.3m 6.31% First filing
18 POLEN CAPITAL MANAGEMENT LLC 0.02% of their portfolio Boca Raton, FL 605,885605.9k $6.9m $6.9m 0.02% Reduced -21.7k -21,666
19 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 563,990564.0k $6.4m $6.4m 0.00% Added +36.3k +36,319
20 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 526,000526.0k $6.0m $6.0m 0.01% Added +202.0k +201,989
21 Lane Generational LLC 5.56% of their portfolio Palm Beach, FL 525,530525.5k $6.0m $6.0m 5.56% Unchanged
22 Holocene Advisors, LP 0.01% of their portfolio New York, NY 491,680491.7k $5.6m $5.6m 0.01% Reduced -65.3k -65,307
23 Cubist Systematic Strategies, LLC 0.06% of their portfolio STAMFORD, CT 449,106449.1k $5.1m $5.1m 0.06% New
24 Balyasny Asset Management L.P. 0.01% of their portfolio Chicago, IL 437,145437.1k $5.0m $5.0m 0.01% Added +350.6k +350,588
25 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 394,793394.8k $4.5m $4.5m 0.00% Added +34.9k +34,941
26 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 378,090378.1k $4.3m $4.3m 0.00% Reduced -197.0k -197,021
27 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 359,657359.7k $4.1m $4.1m 0.00% Reduced -262.8k -262,757
28 TWO SIGMA ADVISERS, LP 0.01% of their portfolio NEW YORK, NY 353,107353.1k $4.0m $4.0m 0.01% Reduced -354.0k -353,993
29 PDT Partners, LLC 0.21% of their portfolio New York, NY 332,739332.7k $3.8m $3.8m 0.21% Reduced -3.5k -3,452
30 HRT FINANCIAL LP 0.02% of their portfolio NEW YORK, NY 314,265314.3k $3.6m $3.6m 0.02% Added +221.1k +221,076
31 Proem Advisors LLC 0.94% of their portfolio Dallas, TX 313,298313.3k $3.6m $3.6m 0.94% New
32 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 274,175274.2k $3.1m $3.1m 0.00% New
33 UBS Group AG 0.00% of their portfolio ZURICH, V8 216,718216.7k $2.5m $2.5m 0.00% Added +101.4k +101,449
34 Point72 Asset Management, L.P. 0.01% of their portfolio STAMFORD, CT 191,800191.8k $2.2m $2.2m 0.01% New
35 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 169,263169.3k $1.9m $1.9m 0.00% Reduced -376.2k -376,199
36 GSA CAPITAL PARTNERS LLP 0.13% of their portfolio LONDON, X0 157,391157.4k $1.8m $1.8m 0.13% Added +125.4k +125,377
37 BlackRock, Inc. 0.00% of their portfolio New York, NY 151,403151.4k $1.7m $1.7m 0.00% Reduced -133.2k -133,175
38 Main Management ETF Advisors, LLC 0.07% of their portfolio SAN FRANCISCO, CA 146,579146.6k $1.7m $1.7m 0.07% Added +2.4k +2,388
39 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 142,677142.7k $1.6m $1.6m 0.00% Added +1.1k +1,130
40 Jefferies Financial Group Inc. 0.03% of their portfolio NEW YORK, NY 137,691137.7k $1.6m $1.6m 0.03% New
41 Caption Management, LLC 0.14% of their portfolio OKLAHOMA CITY, OK 131,249131.2k $1.5m $1.5m 0.14% Added +120.0k +120,000
42 IMC-Chicago, LLC 0.04% of their portfolio CHICAGO, IL 125,838125.8k $1.4m $1.4m 0.04% Added +89.4k +89,374
43 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 119,825119.8k $1.4m $1.4m 0.00% Reduced -2.7k -2,665
44 Penserra Capital Management LLC 0.02% of their portfolio ORINDA, CA 112,436112.4k $1.3m $1.3m 0.02% Reduced -6.3k -6,316
45 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 102,121102.1k $1.2m $1.2m 0.00% Reduced -3.7k -3,684
46 AXA S.A. 0.00% of their portfolio PARIS, I0 82,27082.3k $932.9k $932.9k 0.00% New
47 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 73,16073.2k $829.6k $829.6k 0.00% New
48 Walleye Capital LLC 0.01% of their portfolio NEW YORK, NY 70,82270.8k $803.1k $803.1k 0.01% Added +70.7k +70,681
49 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 69,84869.8k $792.1k $792.1k 0.00% Reduced -14.4k -14,433
50 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 62,95163.0k $713.9k $713.9k 0.00% New
51 SIMPLEX TRADING, LLC 0.02% of their portfolio CHICAGO, IL 58,02558.0k $658.0k $658.0k 0.02% New
52 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 47,87147.9k $542.9k $542.9k 0.00% Added +14.2k +14,204
53 FOX RUN MANAGEMENT, L.L.C. 0.09% of their portfolio GREENWICH, CT 47,32547.3k $536.7k $536.7k 0.09% Added +18.0k +17,976
54 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio JUPITER, FL 45,55345.6k $516.6k $516.6k 0.00% Reduced -251.6k -251,616
55 Absolute Gestao de Investimentos Ltda. 0.17% of their portfolio SAO PAULO, D5 45,04545.0k $510.8k $510.8k 0.17% New
56 Yorktown Management & Research Co Inc 0.45% of their portfolio Forest, VA 41,50041.5k $470.6k $470.6k 0.45% Unchanged
57 Virtu Financial LLC 0.02% of their portfolio New York, NY 38,53638.5k $437.0k $437.0k 0.02% Added +269 +269
58 Dodge & Cox 0.00% of their portfolio San Francisco, CA 36,70036.7k $416.2k $416.2k 0.00% Reduced -8.2k -8,200
59 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 35,98736.0k $408.1k $408.1k 0.00% Reduced -10.4k -10,387
60 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 35,18135.2k $399.0k $399.0k 0.00% New
61 CORSAIR CAPITAL MANAGEMENT, L.P. 0.07% of their portfolio NEW YORK, NY 30,00030.0k $340.2k $340.2k 0.07% New
62 State of Wyoming 0.04% of their portfolio CHEYENNE, WY 27,11627.1k $307.5k $307.5k 0.04% Added +8.4k +8,431
63 GROUP ONE TRADING LLC 0.01% of their portfolio CHICAGO, IL 26,88826.9k $304.9k $304.9k 0.01% New
64 WINTON GROUP Ltd 0.01% of their portfolio LONDON, X0 25,66525.7k $291.0k $291.0k 0.01% New
65 Bayesian Capital Management, LP 0.04% of their portfolio Brooklyn, NY 25,10625.1k $284.7k $284.7k 0.04% New
66 Petrus Trust Company, LTA 0.03% of their portfolio Dallas, TX 24,76624.8k $280.8k $280.8k 0.03% New
67 EXCHANGE TRADED CONCEPTS, LLC 0.00% of their portfolio Oklahoma City, OK 24,21324.2k $274.6k $274.6k 0.00% New
68 Vident Advisory, LLC 0.00% of their portfolio Alpharetta, GA 24,19524.2k $274.4k $274.4k 0.00% Added +7.9k +7,925
69 Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio TOKYO, M0 23,95624.0k $271.7k $271.7k 0.00% Added +298 +298
70 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 23,38423.4k $265.0k $265.0k 0.00% Reduced -6.2k -6,201
71 Point72 Hong Kong Ltd 0.02% of their portfolio HONG KONG, K3 23,30023.3k $264.2k $264.2k 0.02% New
72 Quantbot Technologies LP 0.01% of their portfolio NEW YORK, NY 22,40722.4k $254.1k $254.1k 0.01% New
73 PharVision Advisers, LLC 0.34% of their portfolio BOCA RATON, FL 20,98421.0k $238.0k $238.0k 0.34% New
74 ExodusPoint Capital Management, LP 0.00% of their portfolio NEW YORK, NY 20,91720.9k $237.0k $237.0k 0.00% New
75 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 19,71019.7k $224.0k $224.0k 0.00% Reduced -29.0k -28,958
76 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 19,16919.2k $217.4k $217.4k 0.00% New
77 Mariner, LLC 0.00% of their portfolio Overland Park, KS 18,60618.6k $211.0k $211.0k 0.00% Reduced -5.5k -5,477
78 Legal & General Group Plc 0.00% of their portfolio London, X0 18,31718.3k $207.7k $207.7k 0.00% Reduced -1.4k -1,423
79 TUDOR INVESTMENT CORP ET AL 0.00% of their portfolio STAMFORD, CT 18,06118.1k $204.8k $204.8k 0.00% Reduced -12.6k -12,619
80 WOLVERINE TRADING, LLC 0.01% of their portfolio CHICAGO, IL 17,78317.8k $204.1k $204.1k 0.01% New
81 Susquehanna Portfolio Strategies, LLC 0.00% of their portfolio Bala Cynwyd, PA 17,70017.7k $200.7k $200.7k 0.00% New
82 SBI Securities Co., Ltd. 0.01% of their portfolio TOKYO, M0 17,14617.1k $194.4k $194.4k 0.01% Reduced -290 -290
83 Krane Funds Advisors LLC 0.01% of their portfolio NEW YORK, NY 17,14517.1k $194.4k $194.4k 0.01% Reduced -2.0k -2,005
84 Fieldview Capital Management, LLC 0.03% of their portfolio NILES, MI 17,10817.1k $194.0k $194.0k 0.03% New
85 INSIGNEO ADVISORY SERVICES, LLC 0.02% of their portfolio MIAMI, FL 16,01116.0k $181.6k $181.6k 0.02% New
86 GW HENSSLER & ASSOCIATES LTD 0.01% of their portfolio KENNESAW, GA 15,87315.9k $180.0k $180.0k 0.01% Unchanged
87 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 12,18012.2k $138.1k $138.1k 0.00% Reduced -85.3k -85,263
88 Engineers Gate Manager LP 0.00% of their portfolio NEW YORK, NY 11,68511.7k $132.5k $132.5k 0.00% Reduced -40.8k -40,810
89 Man Group plc 0.00% of their portfolio LONDON, X0 11,47211.5k $130.1k $130.1k 0.00% New
90 R Squared Ltd 0.07% of their portfolio HONG KONG, K3 11,17611.2k $126.7k $126.7k 0.07% Not comparable
91 BOOTHBAY FUND MANAGEMENT, LLC 0.00% of their portfolio NEW YORK, NY 10,76810.8k $122.1k $122.1k 0.00% New
92 CWM, LLC 0.00% of their portfolio OMAHA, NE 10,00010.0k $113.0k $113.0k 0.00% New
93 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 9,1089.1k $103.3k $103.3k 0.00% Added +1.3k +1,329
94 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 7,4007.4k $83.9k $83.9k 0.00% Unchanged
95 Activest Wealth Management 0.02% of their portfolio AVENTURA, FL 7,0677.1k $80.1k $80.1k 0.02% Added +7.1k +7,067
96 Quarry LP 0.02% of their portfolio NEW YORK, NY 6,9296.9k $78.6k $78.6k 0.02% New
97 Parvin Asset Management, LLC 0.06% of their portfolio SIOUX FALLS, SD 4,9004.9k $55.6k $55.6k 0.06% Unchanged
98 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 4,3154.3k $48.9k $48.9k 0.00% Added +183 +183
99 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 3,8233.8k $43.0k $43.0k 0.00% New
100 Ridgewood Investments LLC 0.02% of their portfolio SPRINGFIELD, NJ 3,7963.8k $43.0k $43.0k 0.02% Unchanged