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Which funds own DLO

Dlocal LTD in the Q2 2026 filings. At least 3 of the 91 current managers on file reported a position, worth $40m between them. It is among the largest positions of fewer than a fifth of the current managers on file. Buying and selling roughly cancelled this quarter, which is what a name looks like when the argument is still live.

Managers holding: 3; at least, of 91 current
Combined value: $40m; as reported
Opened: 0; new this quarter
Added to: 1; already held
Trimmed or sold out: 3; 1 sold out entirely

Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.

Managers reporting a position

Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.

Manager	Value	Weight	Shares	Change on the quarter	Action
Baillie Gifford & Co Long-only · $110bn book	$33m	0.0%	2,552,819	-$4.4m-341,086	Trimmed
Polen Capital Management LLC Long-only · $11.6bn book	$5.9m	0.1%	456,087	unchanged-2,822	Trimmed
Dodge & Cox Value · $191bn book	$800k	0.0%	61,500	+$200k+16,800	Added

Sold out of this quarter

Valued at what the position was worth in the previous filing, because by this one it is gone.

Capital World Investors · Long-only$1.0m held before

Ownership through time

At least 5 of the 95 managers whose filings are on file listed DLO in Q2 2026, against 12 in Q2 2021. The same number as in Q1 2026: 1 listed it again; 1 no longer listed it among the positions read, which can mean a holding below the listed range, a filing that reported no holdings, or a filing not yet made.

Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.

Managers on file listing it

Their combined reported value

Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.

Started in Q2 2026

No manager on file started a position.

Largest increases, by shares

Dodge & Cox44,700 to 61,500 shares+$218k

Largest decreases, by shares

PDT Partners LLC410,428 to 68,888 shares-$4.4m
Baillie Gifford & Co2,893,905 to 2,552,819 shares-$4.4m
Polen Capital Management LLC458,909 to 456,087 shares-$37k

Left it

No manager on file is shown leaving it.

Manager	First listed	Largest	Q2 2026
Baillie Gifford & Co	Q2 2021	$44m	$33m
Polen Capital Management LLC	Q4 2022	$37m	$5.9m
Winton Group Ltd	Q3 2025	$1.9m	$1.9m
PDT Partners LLC	Q3 2022	$5.3m	$895k
Dodge & Cox	Q2 2024	$799k	$799k
D1 Capital Partners LP	Q2 2021	$251m	last listed Q1 2024
Tiger Global Management LLC	Q2 2021	$142m	last listed Q2 2023
Marshall Wace LLP	Q3 2023	$64m	last listed Q1 2026
Dragoneer Investment Group LLC	Q2 2021	$53m	last listed Q2 2021
Artisan Partners LP	Q2 2021	$25m	last listed Q3 2022
Holocene Advisors LP	Q3 2023	$19m	last listed Q4 2025
Two Sigma Investments LP	Q3 2023	$17m	last listed Q3 2023
Light Street Capital Management LLC	Q2 2021	$17m	last listed Q2 2021
Two Sigma Advisers LP	Q4 2023	$15m	last listed Q4 2024
Maverick Capital Ltd	Q2 2021	$13m	last listed Q1 2022

What DLO is worth

Knowing who owns it is half the question. The other half is what it is worth against the companies it trades beside, which is the one an interviewer will follow up with.

Build the comp set around DLO →

How much of the picture this is

A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.

What to do with a name the funds are buying

Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.

Comps ExplorerValue it against the peers it trades beside Every managerRead any of these books in full Deal tapeWhat buyers paid for whole companies, not slices Hedge fund interviewsHow the room runs, and the stock pitch it wants

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The holdings, every quarter, and the week between

One email a week on what moved in the market and what it means for the people interviewing into it, with the 13F changes the quarter they are filed.

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