dLocal
121 hedge funds and large institutions have $1.16B invested in dLocal in 2025 Q2 according to their latest regulatory filings, with 39 funds opening new positions, 35 increasing their positions, 29 reducing their positions, and 14 closing their positions.
179% more first-time investments, than exits
New positions opened: 39 | Existing positions closed: 14
79% more call options, than puts
Call options by funds: $63.9M | Put options by funds: $35.6M
49% more capital invested
Capital invested by funds: $778M → $1.16B (+$378M)
26% more funds holding
Funds holding: 96 → 121 (+25)
21% more repeat investments, than reductions
Existing positions increased: 35 | Existing positions reduced: 29
20% more funds holding in top 10
Funds holding in top 10: 5 → 6 (+1)
5.42% more ownership
Funds ownership: 61.92% → 67.33% (+5.4%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
+$70M |
| 2 |
Marshall Wace
London,
United Kingdom
|
+$10.3M |
| 3 |
JGC
J. Goldman & Co
New York
|
+$9.99M |
| 4 |
CSS
Cubist Systematic Strategies
Stamford,
Connecticut
|
+$4.42M |
| 5 |
FSC
Fourth Sail Capital
Camana Bay Grand Cayman,
Cayman Islands
|
+$3.84M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ACL
Azora Capital LP
Miami,
Florida
|
-$16.8M |
| 2 |
Deutsche Bank
Frankfurt Am Main Ge,
Germany
|
-$8.46M |
| 3 |
State Street
Boston,
Massachusetts
|
-$3.7M |
| 4 |
Two Sigma Advisers
New York
|
-$3.48M |
| 5 |
Citadel Advisors
Miami,
Florida
|
-$2.59M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
126
Fidelity Investments
Boston,
Massachusetts
| – | -$807K | -96,805 | Closed |
|
|
SC
127
SummitTX Capital
Fort Worth,
Texas
| – | -$635K | -76,103 | Closed |
|
|
EF
128
Empowered Funds
Havertown,
Pennsylvania
| – | -$406K | -48,688 | Closed |
|
|
CC
129
Centiva Capital
New York
| – | -$382K | -45,795 | Closed |
|
|
CMF
130
Counterpoint Mutual Funds
San Diego,
California
| – | -$346K | -41,525 | Closed |
|
|
SS
131
Sunbelt Securities
Houston,
Texas
| – | -$62.5K | -7,500 | Closed |
|
|
TWC
132
TD Waterhouse Canada
Toronto,
Ontario, Canada
| – | -$8.52K | -990 | Closed |
|
|
SSG
133
Summit Securities Group
New York
| – | -$5.97K | -716 | Closed |
|
134
National Bank of Canada
Montreal,
Quebec, Canada
| – | -$833 | -100 | Closed |
|
|
EWA
135
EverSource Wealth Advisors
Birmingham,
Alabama
| – | -$50 | -6 | Closed |
|
DLO Hedge Fund Activity: Q2 2025 in Review
121 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in dLocal (DLO) for Q2 2025, worth a combined $1.16B — up 49% from $778M a quarter earlier.
Buyers outnumbered sellers: 39 funds opened new DLO positions and 14 closed out — a net gain of 25 holders — while 35 added to existing stakes and 29 trimmed.
The largest buyer was Bank of America, adding an estimated $70M. The largest seller was Azora Capital LP, exiting entirely with an estimated $16.8M sold.
- 121 institutional investors held dLocal (DLO) as of Q2 2025, up from 96 in Q1 2025.
- Funds reported $1.16B of dLocal stock for Q2 2025, up 49% quarter-over-quarter.
- 39 funds opened new dLocal positions in Q2 2025 and 14 closed out, a net change of +25 holders.
- The largest dLocal buyer in Q2 2025 was Bank of America, an estimated $70M added.
- The largest dLocal seller in Q2 2025 was Azora Capital LP, an estimated $16.8M sold.
Based on aggregated 13F filings for Q2 2025.