| Filer | Ownership | Change % | Holdings Value | Net Change | Nb Shares | Change % | Reporting Name | Report Period |
|---|---|---|---|---|---|---|---|---|
| ORBIS INVESTMENT MANAGEMENT LTD | 22% | -4.8% | $84,576,190 | -$4,111,359 | 6,943,858 | -4.6% | Orbis Investment Management Limited | 31 Dec 2025 |
As of 31 Dec 2025, 31 institutional investors reported holding 11,947,215 shares of Youdao, Inc. - American Depositary Shares, each representing 1 Class A Ordinary Share, par value US$0.0001 (DAO). This represents 38% of the company’s total 31,278,640 outstanding shares.
The largest institutional shareholders of Youdao, Inc. - American Depositary Shares, each representing 1 Class A Ordinary Share, par value US$0.0001 (DAO) together control 38% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.
| Institution | Ownership % | Shares Held | Share Change % | Portfolio % | Holdings Value |
|---|---|---|---|---|---|
| Orbis Allan Gray Ltd | 22% | 6,943,858 | -4.6% | 0.29% | $69,994,089 |
| NetEase, Inc. | 9.3% | 2,898,293 | 0% | 6.8% | $29,214,793 |
| VANGUARD GROUP INC | 3.3% | 1,040,574 | +2.7% | 0% | $10,488,985 |
| ACADIAN ASSET MANAGEMENT LLC | 1.4% | 431,966 | -16% | 0.01% | $4,338,000 |
| Connor, Clark & Lunn Investment Management Ltd. | 0.78% | 243,446 | -3.7% | 0.01% | $2,453,936 |
| GSA CAPITAL PARTNERS LLP | 0.23% | 73,111 | +261% | 0.06% | $737,000 |
| RENAISSANCE TECHNOLOGIES LLC | 0.2% | 62,000 | -9.8% | 0% | $624,960 |
| Qube Research & Technologies Ltd | 0.18% | 57,838 | -41% | 0% | $583,007 |
| MARSHALL WACE, LLP | 0.12% | 38,387 | -2.6% | 0% | $386,941 |
| California Public Employees Retirement System | 0.12% | 37,087 | -0.6% | 0% | $373,837 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | 0.09% | 29,286 | 0% | 0% | $295,203 |
| Invesco Ltd. | 0.09% | 27,797 | -4.1% | 0% | $280,194 |
| MORGAN STANLEY | 0.08% | 23,546 | +0.59% | 0% | $237,344 |
| UBS Group AG | 0.05% | 14,877 | +108% | 0% | $149,960 |
| Vident Advisory, LLC | 0.03% | 10,794 | -15% | 0% | $108,804 |
| BANK OF AMERICA CORP /DE/ | 0.02% | 6,352 | +9% | 0% | $64,028 |
| Mirae Asset Global Investments Co., Ltd. | 0.01% | 2,535 | 0% | 0% | $25,553 |
| Compagnie Lombard Odier SCmA | 0.01% | 2,000 | 0% | 0% | $20,160 |
| RHUMBLINE ADVISERS | 0% | 1,019 | -8.2% | 0% | $10,270 |
| EverSource Wealth Advisors, LLC | 0% | 913 | -21% | 0% | $9,203 |
| NewEdge Advisors, LLC | 0% | 576 | +20% | 0% | $5,805 |
| Smartleaf Asset Management LLC | 0% | 509 | 0% | $4,907 | |
| GROUP ONE TRADING LLC | 0% | 123 | -94% | 0% | $1,240 |
| ROYAL BANK OF CANADA | 0% | 96 | 0% | 0% | $1,000 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | 0% | 87 | 0% | $877 |
| Period | Reported Shares, Excl. Options | Value, Excl. Options | Value Change | Price (Median) | Investors |
|---|---|---|---|---|---|
| 2025 Q4 | 11,947,215 | $120,411,557 | -$5,130,776 | $10.08 | 31 |
| 2025 Q3 | 12,458,118 | $123,811,919 | -$1,207,298 | $9.94 | 33 |
| 2025 Q2 | 12,585,049 | $108,221,315 | -$7,622,597 | $8.60 | 29 |
| 2025 Q1 | 13,481,263 | $102,855,598 | -$3,889,651 | $7.63 | 30 |
| 2024 Q4 | 13,997,249 | $103,563,159 | -$2,249,893 | $7.40 | 30 |
| 2024 Q3 | 14,344,349 | $59,514,730 | -$1,951,990 | $4.15 | 29 |
| 2024 Q2 | 14,823,286 | $58,099,222 | -$3,985,807 | $3.92 | 34 |
| 2024 Q1 | 15,830,439 | $63,636,645 | -$4,561,334 | $4.02 | 32 |
| 2023 Q4 | 16,976,313 | $66,883,398 | -$4,708,478 | $3.94 | 35 |
| 2023 Q3 | 18,170,341 | $73,042,501 | -$6,083,649 | $4.02 | 34 |
| 2023 Q2 | 19,661,414 | $94,758,376 | -$8,447,408 | $4.82 | 41 |
| 2023 Q1 | 20,957,415 | $178,121,920 | -$5,567,699 | $8.50 | 43 |
| 2022 Q4 | 21,639,016 | $116,418,483 | -$9,037,454 | $5.38 | 40 |
| 2022 Q3 | 23,319,723 | $91,647,638 | -$3,072,105 | $3.93 | 24 |
| 2022 Q2 | 23,790,891 | $117,045,272 | -$12,055,203 | $4.92 | 38 |
| 2022 Q1 | 23,277,722 | $165,271,642 | -$11,428,349 | $7.10 | 35 |
| 2021 Q4 | 24,759,552 | $308,994,732 | +$15,682,933 | $12.48 | 34 |
| 2021 Q3 | 23,522,358 | $284,381,038 | -$18,381,597 | $12.09 | 38 |
| 2021 Q2 | 23,944,480 | $553,997,116 | +$49,286,393 | $23.09 | 39 |
| 2021 Q1 | 22,240,981 | $529,773,856 | +$152,547,394 | $23.82 | 50 |
| 2020 Q4 | 16,337,123 | $433,425,072 | +$24,493,297 | $26.53 | 41 |
| 2020 Q3 | 15,417,278 | $398,316,708 | +$48,471,264 | $25.84 | 40 |
| 2020 Q2 | 13,260,802 | $513,324,436 | +$111,835,374 | $37.50 | 41 |
| 2020 Q1 | 10,545,444 | $221,877,000 | +$184,653,079 | $21.04 | 13 |
| 2019 Q4 | 1,917,446 | $26,942,000 | +$26,942,000 | $14.08 | 10 |