Youdao, Inc.: which funds bought and sold

Institutions that bought and sold Youdao shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 12 institutions that filed 13F reports for both quarters added to or opened positions in Youdao, and 15 cut or closed them. Together they sold a net 319K shares, −2.7% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 300K shares (−4.1%); index fund managers were net buyers of 7,728 shares (+0.7%). 5 opened a new position and 4 sold out entirely.

Bought, Q2 2026 12 institutions, 5 of them new holders Sold, Q2 2026 15 institutions, 4 of them sold out

Net change, all compared −319K shares (−2.7%)

Net change, active managers −300K shares (−4.1%), 1 bought, 5 sold

Buyers versus sellers

institutions compared, 37

12 bought 10 15 sold

Active managers and hedge funds 1 bought · 5 sold · −300K

Index fund managers 1 bought · 0 sold · +7,728

Other institutions 10 bought · 10 sold · −26K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Savant Capital, LLC	+14K New position	14K	$150,432
UBS Group AG	+11K +19.5%	66K	$807,422
Citadel Advisors LLC Hedge fund	+8,608 +17.0%	59K	$728,738
Vanguard Capital Management LLC Index funds	+7,728 +0.9%	840K	$10.3M
Tower Research Capital LLC (TRC)	+2,089 +240.7%	2,957	$36,371
Rockefeller Capital Management L.P.	+809 New position	809	$9,951
Quarry LP	+215 New position	215	$2,645
Royal Bank Of Canada	+30 +15.0%	230	$3,000
Osaic Holdings, Inc.	+24 +126.3%	43	$529
Wells Fargo & Company	+10 New position	10	$123
Integrated Wealth Concepts LLC	+4 New position	4	$49
NISA Investment Advisors, LLC	+1 +1.4%	73	$898

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Citadel Advisors LLC Hedge fund	+8,608 +17.0%	59K	$728,738

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Orbis Allan Gray Ltd Active manager	−175K −2.6%	6.6M	$80.7M
Acadian Asset Management LLC Active manager	−68K −23.1%	227K	$2.8M
Marshall Wace, LLP Hedge fund	−46K Sold out	0	—
Morgan Stanley	−15K −69.0%	6,883	$84,661
Connor, Clark & Lunn Investment Management Ltd.	−15K −6.6%	211K	$2.6M
Qube Research & Technologies Ltd Hedge fund	−14K −23.2%	46K	$571,667
Vident Advisory, LLC	−10K Sold out	0	—
Gsa Capital Partners LLP	−5,976 −8.7%	63K	$774,000
Renaissance Technologies LLC Hedge fund	−4,900 −7.7%	59K	$720,780
Invesco Ltd.	−3,301 −12.2%	24K	$292,051
Group One Trading LLC	−2,176 −68.8%	986	$12,128
California Public Employees Retirement System	−940 −2.5%	36K	$443,378
Eversource Wealth Advisors, LLC	−912 Sold out	0	—
Public Employees Retirement System Of Ohio	−237 −0.8%	28K	$345,679
Blue Trust, Inc.	−22 Sold out	0	—

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Orbis Allan Gray Ltd Active manager	−175K −2.6%	6.6M	$80.7M
Acadian Asset Management LLC Active manager	−68K −23.1%	227K	$2.8M
Marshall Wace, LLP Hedge fund	−46K Sold out	0	—
Qube Research & Technologies Ltd Hedge fund	−14K −23.2%	46K	$571,667
Renaissance Technologies LLC Hedge fund	−4,900 −7.7%	59K	$720,780

New positions

largest by value

Institution	Shares	Value June 30, 2026
Savant Capital, LLC	14K	$150,432
Rockefeller Capital Management L.P.	809	$9,951
Quarry LP	215	$2,645
Wells Fargo & Company	10	$123
Integrated Wealth Concepts LLC	4	$49

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Marshall Wace, LLPHedge fund	46K	$455,472
Vident Advisory, LLC	10K	$98,978
Eversource Wealth Advisors, LLC	912	$8,965
Blue Trust, Inc.	22	$216

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 33
Ten largest holders: 98.5%
Index fund managers: 9.3%
Active managers and hedge funds: 61.2%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	1	5	0	1	−300K	−4.1%
Index fund managers	1	0	0	0	+7,728	+0.7%
Other institutions	10	10	5	3	−26K	−0.8%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Youdao.

Only managers that filed a holdings report for both quarters are compared (37 here). 1 other holder is left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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