dLocal
122 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, 30 reducing their positions, and 14 closing their positions.
179% more first-time investments, than exits
New positions opened: 39 | Existing positions closed: 14
175% more capital inflows, than outflows
Capital inflows: $142M | Capital outflows: $51.5M
79% more call options, than puts
Call options by funds: $63.9M | Put options by funds: $35.6M
26% more funds holding
Funds holding: 97 → 122 (+25)
20% more funds holding in top 10
Funds holding in top 10: 5 → 6 (+1)
17% more repeat investments, than reductions
Existing positions increased: 35 | Existing positions reduced: 30
5.41% 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 |
J. Goldman & Co
New York
|
+$10M |
| 4 |
Cubist Systematic Strategies
Stamford,
Connecticut
|
+$4.42M |
| 5 |
Fourth Sail Capital
Camana Bay Grand Cayman,
Cayman Islands
|
+$3.84M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
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 |
DLO Hedge Fund Activity: Q2 2025 in Review
122 of the 7,627 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 30 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.
- 122 institutional investors held dLocal (DLO) as of Q2 2025, up from 97 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.