13F Insight
DOSSIER · 13F Holders · Q4 2025Most-boughtAI cap-ex
HEPS

D MARKET ELECTR SVCS & TRADI

33 institutions still hold D MARKET ELECTR SVCS & TRADI as of Q4 2025. Tracked across SEC 13F-HR filings, with insider and 13D/G activity surfaced alongside.

CUSIP 23292B104·33 13F holders·last filed Dec 31, 2025
Market cap
—
▲ 5.9%
vs prior quarter
13F value held
$64M
52.0% inst. owned
of float
Holders
33
-95 QoQ
filers reporting
Activity
+57 / −41
+902 added · −675 reduced
this quarter
Concentration
63.81%
VR Advisory Services Ltd #1
top holder share
AI Holders Summary · Q4 2025

33 institutions reported HEPS in Q4 2025. VR Advisory Services Ltd leads at 63.8% of the visible book. -95 net institutions QoQ — distribution reading.

Top holders

Sorted by position value. Source: SEC EDGAR 13F-HR filings.

#HolderValueShares% port.Quarter
01
VR Advisory Services Ltd
CIK 0001348145
$41M16.5M6.47%Q4 202502
BlackRock, Inc.
CIK 0002012383
$7M2.7M0.00%Q1 202603
STATE STREET CORP
CIK 0000093751
$6M2.3M0.00%Q1 202604
BNP PARIBAS FINANCIAL MARKETS
CIK 0001166588
$2M872K0.00%Q1 202605
UBS Group AG
CIK 0001610520
$2M814K0.00%Q1 202606
MORGAN STANLEY
CIK 0000895421
$1M523K0.00%Q1 202607
GAM Holding AG
CIK 0001438848
$1M450K0.07%Q4 202508
Rangeley Capital, LLC
CIK 0001517796
$524,000200K0.51%Q1 202609
GEODE CAPITAL MANAGEMENT, LLC
CIK 0001214717· Index
$454,598174K0.00%Q1 202610
Delaware Management Holdings, Inc.
CIK 0000921739
$419,000160K0.00%Q1 202611
Russell Investments Group, Ltd.
CIK 0001692234
$317,819121K0.00%Q1 202612
Aberdeen Group plc
CIK 0001716774
$194,43574K0.00%Q1 202613
XTX Topco Ltd
CIK 0001828301
$186,76171K0.00%Q1 202614
Schonfeld Strategic Advisors LLC
CIK 0001665241
$180,77969K0.00%Q1 202615
SUSQUEHANNA INTERNATIONAL GROUP, LLP
CIK 0001446194· Market maker
$167,01564K0.00%Q1 202616
JANE STREET GROUP, LLC
CIK 0001595888· Market maker
$159,89661K0.00%Q1 202617
TWO SIGMA INVESTMENTS, LP
CIK 0001179392
$104,11440K0.00%Q1 202618
GAMMA Investing LLC
CIK 0002010235
$81,69931K0.00%Q1 202619
JBF Capital, Inc.
CIK 0001483864
$81,08631K0.01%Q1 202620
Capricorn Fund Managers Ltd
CIK 0001901361
$76,46529K0.01%Q1 2026
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