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dLocal
DLO

146 hedge funds and large institutions have $1.38B invested in dLocal in 2025 Q3 according to their latest regulatory filings, with 46 funds opening new positions, 48 increasing their positions, 38 reducing their positions, and 21 closing their positions.

New
Increased
Maintained
Reduced
Closed

155% more call options, than puts

Call options by funds: $156M | Put options by funds: $61.2M

119% more first-time investments, than exits

New positions opened: 46 | Existing positions closed: 21

26% more repeat investments, than reductions

Existing positions increased: 48 | Existing positions reduced: 38

21% more funds holding

Funds holding: 121 → 146 (+25)

19% more capital invested

Capital invested by funds: $1.16B → $1.38B (+$224M)

0% more funds holding in top 10

Funds holding in top 10: 6 → 6 (0)

10.04% less ownership

Funds ownership: 67.33% → 57.29% (-10%)

Holders
146
Holders Change
+25
Holders Change %
+20.66%
% of All Funds
1.92%
Holding in Top 10
6
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.08%
New
46
Increased
48
Reduced
38
Closed
21
Calls
$156M
Puts
$61.2M
Net Calls
+$95.2M
Net Calls Change
+$66.9M

Top Buyers

Rank Fund Capital Flow
1
D.E. Shaw & Co
D.E. Shaw & Co
New York
+$18.4M
2
Citadel Advisors
Citadel Advisors
Florida
+$18.3M
3
PIM
Paradice Investment Management
Colorado
+$12.8M
4
Two Sigma Investments
Two Sigma Investments
New York
+$12.5M
5
Morgan Stanley
Morgan Stanley
New York
+$10.9M

Top Sellers

Rank Fund Capital Flow
1
GA
General Atlantic
New York
-$219M
2
Bank of America
Bank of America
North Carolina
-$27.2M
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$6.81M
4
JGC
J. Goldman & Co
New York
-$6.52M
5
FSC
Fourth Sail Capital
Cayman Islands
-$4.69M
Name Holding Trade Value Shares
Change 		Change in
Stake
PA
26
Proem Advisors
Texas
$8.21M +$3.33M +261,702 +84%
Tudor Investment Corp
27
Tudor Investment Corp
Connecticut
$7.82M +$6.73M +529,392 +2,931%
LG
28
Lane Generational
Massachusetts
$7.22M -$255K -20,084 -4%
JGC
29
J. Goldman & Co
New York
$7.17M -$6.52M -513,013 -51%
BNP Paribas Financial Markets
30
BNP Paribas Financial Markets
France
$7.14M +$1.33M +104,930 +27%
CSS
31
Cubist Systematic Strategies
Connecticut
$6.34M -$63.5K -4,992 -1%
Walleye Capital
32
Walleye Capital
New York
$4.76M +$3.34M +262,855 +371%
Goldman Sachs
33
Goldman Sachs
New York
$4.36M -$924K -72,698 -19%
BGM
34
Burkehill Global Management
New York
$4.28M +$3.81M +300,000 New
UBS Group
35
UBS Group
Switzerland
$4.27M +$1.05M +82,416 +38%
Susquehanna International Group
36
Susquehanna International Group
Pennsylvania
$4.14M -$6.81M -535,552 -65%
Two Sigma Advisers
37
Two Sigma Advisers
New York
$4.1M -$837K -65,807 -19%
JP Morgan Chase
38
JP Morgan Chase
New York
$3.9M +$3.32M +261,220 +2,145%
TI
39
Trexquant Investment
Connecticut
$3.67M +$3.27M +256,949 New
Voloridge Investment Management
40
Voloridge Investment Management
Florida
$3.59M +$2.62M +206,162 +453%
GCM
41
Ghisallo Capital Management
Massachusetts
$3.57M +$3.18M +250,000 New
Toronto Dominion Bank
42
Toronto Dominion Bank
Ontario, Canada
$3.38M +$3.01M +236,433 New
QT
43
Quantbot Technologies
New York
$3.26M +$2.62M +206,032 +919%
Group One Trading
44
Group One Trading
Illinois
$3.09M +$2.41M +189,468 +705%
SIC
45
Schwartz Investment Counsel
Michigan
$2.96M +$2.63M +207,200 New
SGM
46
Seven Grand Managers
New York
$2.86M +$2.54M +200,000 New
AIM
47
AXA Investment Managers
France
$2.61M +$2.32M +182,730 New
MMEA
48
Main Management ETF Advisors
California
$2.53M +$393K +30,896 +21%
FBCM
49
Fort Baker Capital Management
California
$2.5M +$2.22M +175,000 New
Squarepoint
50
Squarepoint
New York
$2.38M +$1.19M +93,570 +128%
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DLO Hedge Fund Activity: Q3 2025 in Review

146 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in dLocal (DLO) for Q3 2025, worth a combined $1.38B — up 19% from $1.16B a quarter earlier.

Buyers outnumbered sellers: 46 funds opened new DLO positions and 21 closed out — a net gain of 25 holders — while 48 added to existing stakes and 38 trimmed.

The largest buyer was D.E. Shaw & Co, adding an estimated $18.4M. The largest seller was General Atlantic, cutting an estimated $219M.

  • 146 institutional investors held dLocal (DLO) as of Q3 2025, up from 121 in Q2 2025.
  • Funds reported $1.38B of dLocal stock for Q3 2025, up 19% quarter-over-quarter.
  • 46 funds opened new dLocal positions in Q3 2025 and 21 closed out, a net change of +25 holders.
  • The largest dLocal buyer in Q3 2025 was D.E. Shaw & Co, an estimated $18.4M added.
  • The largest dLocal seller in Q3 2025 was General Atlantic, an estimated $219M sold.

Based on aggregated 13F filings for Q3 2025.