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DAO

Youdao
DAO

39 hedge funds and large institutions have $284M invested in Youdao in 2021 Q3 according to their latest regulatory filings, with 8 funds opening new positions, 15 increasing their positions, 11 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

47% more call options, than puts

Call options by funds: $2.01M | Put options by funds: $1.37M

36% more repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 11

2.43% less ownership

Funds ownership: 66.28% → 63.85% (-2.4%)

9% less funds holding

Funds holding: 43 → 39 (-4)

27% less first-time investments, than exits

New positions opened: 8 | Existing positions closed: 11

50% less capital invested

Capital invested by funds: $565M → $284M (-$281M)

100% less funds holding in top 10

Funds holding in top 10: 2 → 0 (-2)

Holders
39
Holders Change
-4
Holders Change %
-9.3%
% of All Funds
0.68%
Holding in Top 10
–
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-100%
% of All Funds
–
New
8
Increased
15
Reduced
11
Closed
11
Calls
$2.01M
Puts
$1.37M
Net Calls
+$643K
Net Calls Change
+$3.09M

Top Buyers

Rank Fund Capital Flow
1
OAG
Orbis Allan Gray
Bermuda
+$15.5M
2
KFA
Krane Funds Advisors
New York
+$10.9M
3
Vanguard Group
Vanguard Group
Pennsylvania
+$6.19M
4
TAA
TB Alternative Assets
Cayman Islands
+$4.71M
5
Millennium Management
Millennium Management
New York
+$2.75M

Top Sellers

Rank Fund Capital Flow
1
SCH
Sylebra Capital (HK)
Hong Kong
-$28.7M
2
CS
Credit Suisse
Switzerland
-$12.5M
3
TLA
Tree Line Advisors
Hong Kong
-$10.7M
4
Invesco
Invesco
Georgia
-$10.5M
5
CFM
Coronation Fund Managers
South Africa
-$4.74M
Name Holding Trade Value Shares
Change 		Change in
Stake
CSS
26
Cubist Systematic Strategies
Connecticut
$140K -$203K -14,911 -56%
MWNA
27
Marshall Wace North America
New York
$137K +$155K +11,339 New
Renaissance Technologies
28
Renaissance Technologies
New York
$122K +$138K +10,100 New
Deutsche Bank
29
Deutsche Bank
Germany
$80K -$1.41M -103,246 -94%
Daiwa Securities Group
30
Daiwa Securities Group
Japan
$55K +$62.1K +4,550 New
Citigroup
31
Citigroup
New York
$54K +$11.1K +814 +22%
Royal Bank of Canada
32
Royal Bank of Canada
Ontario, Canada
$40K +$18.3K +1,342 +67%
CLOS
33
Compagnie Lombard Odier SCmA
Switzerland
$24K – – –
UBS Group
34
UBS Group
Switzerland
$15K +$17.1K +1,256 +8,971%
CG
35
Cutler Group
California
$8K -$3.29K -241 -25%
TRCT
36
Tower Research Capital (TRC)
New York
$7K +$7.41K +543 New
PHK
37
Point72 Hong Kong
Hong Kong
$3K – – –
HI
38
Harbour Investments
Wisconsin
$1K – – –
ED
39
Exane Derivatives
France
$157 – – –
SCH
40
Sylebra Capital (HK)
Hong Kong
– -$28.7M -1,243,152 Closed
TLA
41
Tree Line Advisors
Hong Kong
– -$10.7M -464,000 Closed
DAM
42
Deltec Asset Management
New York
– -$2.45M -106,100 Closed
Squarepoint
43
Squarepoint
New York
– -$270K -11,706 Closed
Citadel Advisors
44
Citadel Advisors
Florida
– -$140K -10,288 Closed
Mirae Asset Global Investments
45
Mirae Asset Global Investments
South Korea
– -$233K -10,101 Closed
Nomura Holdings
46
Nomura Holdings
Japan
– -$242K -10,000 Closed
LSA
47
Leonteq Securities AG
Switzerland
– -$210K -9,095 Closed
US Bancorp
48
US Bancorp
Minnesota
– -$28K -1,229 Closed
ASN
49
Advisory Services Network
Georgia
– -$2K -100 Closed
Wells Fargo
50
Wells Fargo
California
– -$2K -68 Closed
1
2

DAO Hedge Fund Activity: Q3 2021 in Review

39 of the 5,712 institutional investors tracked by Wall St. Rank reported a position in Youdao (DAO) for Q3 2021, worth a combined $284M — down 50% from $565M a quarter earlier.

Sellers outnumbered buyers: 11 funds closed out of DAO and 8 opened new positions — a net loss of 3 holders — while 11 trimmed existing stakes and 15 added.

The largest buyer was Orbis Allan Gray, adding an estimated $15.5M. The largest seller was Sylebra Capital (HK), exiting entirely with an estimated $28.7M sold.

  • 39 institutional investors held Youdao (DAO) as of Q3 2021, down from 43 in Q2 2021.
  • Funds reported $284M of Youdao stock for Q3 2021, down 50% quarter-over-quarter.
  • 8 funds opened new Youdao positions in Q3 2021 and 11 closed out, a net change of -3 holders.
  • The largest Youdao buyer in Q3 2021 was Orbis Allan Gray, an estimated $15.5M added.
  • The largest Youdao seller in Q3 2021 was Sylebra Capital (HK), an estimated $28.7M sold.

Based on aggregated 13F filings for Q3 2021.