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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
BCM
151
Bayesian Capital Management
New York
– -$285K -25,106 Closed
PTC
152
Petrus Trust Company
Texas
– -$281K -24,766 Closed
ETC
153
Exchange Traded Concepts
Oklahoma
– -$275K -24,213 Closed
ECM
154
ExodusPoint Capital Management
New York
– -$237K -20,917 Closed
SA
155
Sanctuary Advisors
Indiana
– -$217K -19,169 Closed
GHA
156
GW Henssler & Associates
Georgia
– -$180K -15,873 Closed
Man Group
157
Man Group
United Kingdom
– -$130K -11,472 Closed
BFM
158
Boothbay Fund Management
New York
– -$122K -10,768 Closed
Lazard Asset Management
159
Lazard Asset Management
New York
– -$43K -3,823 Closed
RI
160
Ridgewood Investments
New Jersey
– -$43K -3,796 Closed
PD
161
Point72 (DIFC)
United Arab Emirates
– -$29.5K -2,600 Closed
PAS
162
Point72 Asia (Singapore)
Singapore
– -$28.4K -2,508 Closed
AAM
163
Advisors Asset Management
Colorado
– -$10.8K -951 Closed
FIA
164
FNY Investment Advisers
New York
– -$10K -936 Closed
BIG
165
Brooklyn Investment Group
New York
– -$9.48K -836 Closed
KIM
166
Kestra Investment Management
Texas
– -$2.35K -238 Closed
PNC Financial Services Group
167
PNC Financial Services Group
Pennsylvania
– -$170 -15 Closed
3 4 5 6
7

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.