D-Market Electronic Services & Trading
HEPS
41 hedge funds and large institutions have $116M invested in D-Market Electronic Services & Trading in 2025 Q2 according to their latest regulatory filings, with 5 funds opening new positions, 15 increasing their positions, 15 reducing their positions, and 4 closing their positions.
25% more first-time investments, than exits
New positions opened: 5 | Existing positions closed: 4
3% more funds holding
Funds holding: 40 → 41 (+1)
0% more funds holding in top 10
Funds holding in top 10: 3 → 3 (0)
0% more repeat investments, than reductions
Existing positions increased: 15 | Existing positions reduced: 15
1.92% less ownership
Funds ownership: 15.23% → 13.32% (-1.9%)
5% less capital invested
Capital invested by funds: $122M → $116M (-$6.61M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
VAS
VR Advisory Services
Camana Bay, Grand Cayman,
Cayman Islands
|
+$4.13M |
| 2 |
BlackRock
New York
|
+$3.07M |
| 3 |
UBS Group
Zurich,
Switzerland
|
+$1.94M |
| 4 |
BCM
Brightlight Capital Management
Westport,
Connecticut
|
+$764K |
| 5 |
BBA
Baader Bank Aktiengesellschaft
Unterschleissheim,
Germany
|
+$447K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TCM
Tekne Capital Management
New York
|
-$7.51M |
| 2 |
MG
Marex Group
London,
|
-$2.12M |
| 3 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$463K |
| 4 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$338K |
| 5 |
Morgan Stanley
New York
|
-$329K |
HEPS Hedge Fund Activity: Q2 2025 in Review
41 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in D-Market Electronic Services & Trading (HEPS) for Q2 2025, worth a combined $116M — down 5.4% from $122M a quarter earlier.
Buyers outnumbered sellers: 5 funds opened new HEPS positions and 4 closed out — a net gain of 1 holder — while 15 added to existing stakes and 15 trimmed.
The largest buyer was VR Advisory Services, adding an estimated $4.13M. The largest seller was Tekne Capital Management, cutting an estimated $7.51M.
- 41 institutional investors held D-Market Electronic Services & Trading (HEPS) as of Q2 2025, up from 40 in Q1 2025.
- Funds reported $116M of D-Market Electronic Services & Trading stock for Q2 2025, down 5.4% quarter-over-quarter.
- 5 funds opened new D-Market Electronic Services & Trading positions in Q2 2025 and 4 closed out, a net change of +1 holder.
- The largest D-Market Electronic Services & Trading buyer in Q2 2025 was VR Advisory Services, an estimated $4.13M added.
- The largest D-Market Electronic Services & Trading seller in Q2 2025 was Tekne Capital Management, an estimated $7.51M sold.
Based on aggregated 13F filings for Q2 2025.