Daqo New Energy (DQ): which funds own it
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Sections with a free account
1 concentrated manager holds it with a median weight of 5.2%.
Who owns Daqo New Energy?
Daqo New Energy trades in the U.S. through ADRs, certificates that represent shares of a non-U.S. company. Form 13F counts ADRs while the company reports ordinary shares, so we do not compute percentages. Holders reporting more than 5% of the ordinary shares to the SEC (Schedules 13D/13G): Continental General Insurance, 10.0% (13G/A filed Nov 13, 2025). As of Jun 30, 2026, the largest ADR holders reported on Form 13F were Continental General Insurance (6.6 million ADRs), Morgan Stanley (2.7 million ADRs) and Invesco (2.3 million ADRs).
Which institutions hold the most Daqo New Energy shares?
Per Form 13F filings as of Jun 30, 2026, in ADRs:
- 1. Continental General Insurance: 6.6 million ADRs
- 2. Morgan Stanley: 2.7 million ADRs
- 3. Invesco: 2.3 million ADRs
- 4. Polunin Capital Partners: 1.7 million ADRs
- 5. Vanguard Capital Management: 1.4 million ADRs
- 6. Mackenzie Financial: 1.3 million ADRs
- 7. Franklin Resources: 1.3 million ADRs
- 8. State Street: 1.2 million ADRs
- 9. BlackRock: 988,969 ADRs
- 10. Ariose Capital Management: 953,974 ADRs
Sources:13G/A by Continental General Insurance (Nov 13, 2025) ↗All of the company's proxy statements on EDGAR ↗
We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.
Daqo New Energy revenue
Daqo New Energy reported annual revenue of $665.4 million for fiscal year 2025 (year ended December 31, 2025), according to its Form 20-F filed with the SEC (XBRL data).
Quarter flow (concentrated managers)
Change in managers (1 → 1): 0 opened · 0 exited = 0
Net flow in the quarter: −$371K (−28 K shares) · bought $0 and sold $371KShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.
Concentrated managers holding it
- Polunin Capital PartnersReduced$21.3M5.2%−0.1 pp
Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.
Largest holders of DQ (all 13F filers)
- Continental General Insurance6.6 MInsurance holding · 1.96% of the company0
- Morgan Stanley2.7 MBank or trading desk · 0.81% of the company+1.7 M
- Invesco2.3 MInvestment firm · 0.68% of the company+265 K
- Polunin Capital Partnersconcentrated1.7 MInvestment firm · 0.51% of the company−28 K
- Vanguard Capital Management1.4 MIndex manager · 0.41% of the company+20 K
- Mackenzie Financial1.3 MInvestment firm · 0.38% of the company−103 K
- Franklin Resources1.3 MInvestment firm · 0.37% of the company−380 K
- State Street1.2 MIndex manager · 0.35% of the company+411 K
- BlackRock989 KIndex manager · 0.29% of the company−272 K
- Ariose Capital Management954 KInvestment firm · 0.28% of the company+497 K
- Continental General Insurance
- Shares
- 6.6 M
- Change
- 0
- % of the company
- 1.96%
See more
- Type
- Insurance holding
- Value
- $89.0M
- Shares
- 2.7 M
- Change
- +1.7 M
- % of the company
- 0.81%
See more
- Type
- Bank or trading desk
- Value
- $36.5M
- Shares
- 2.3 M
- Change
- +265 K
- % of the company
- 0.68%
See more
- Type
- Investment firm
- Value
- $30.7M
- Polunin Capital Partnersconcentrated
- Shares
- 1.7 M
- Change
- −28 K
- % of the company
- 0.51%
See more
- Type
- Investment firm
- Value
- $21.3M
- Shares
- 1.4 M
- Change
- +20 K
- % of the company
- 0.41%
See more
- Type
- Index manager
- Value
- $18.4M
- Shares
- 1.3 M
- Change
- −103 K
- % of the company
- 0.38%
See more
- Type
- Investment firm
- Value
- $17.1M
- Shares
- 1.3 M
- Change
- −380 K
- % of the company
- 0.37%
See more
- Type
- Investment firm
- Value
- $16.8M
- Shares
- 1.2 M
- Change
- +411 K
- % of the company
- 0.35%
See more
- Type
- Index manager
- Value
- $15.8M
- Shares
- 989 K
- Change
- −272 K
- % of the company
- 0.29%
See more
- Type
- Index manager
- Value
- $13.2M
- Ariose Capital Management
- Shares
- 954 K
- Change
- +497 K
- % of the company
- 0.28%
See more
- Type
- Investment firm
- Value
- $12.8M
The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.
Fundamentals
12-month figures to Dec 31, 2025 · balance sheet as of Dec 31, 2025.
- Operating margin
- -40.6%
- Net margin
- -25.6%
- ROE
- -3.9%
- Revenue (TTM)
- $665M
- Revenue growth
- -35.3%
- Net income (TTM)
- $-171M
- Net debt / EBITDA
- —
- Free cash flow (TTM)
- $-123M
- Quality vs sector
- —
This company's sector comes from its SIC code, unreviewed, or has too few comparable companies: we do not compare it with its sector.
Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated
Shares outstanding: buybacks and dilution
2025: 336.8 M
- 1 year
- +1.8%
- 3 years
- −12.9%
- 5 years
- −10.2%
- Buybacks (FY 2025)
- no data
- Share issuance
- no data
- Stock-based compensation
- $55.8M8.4% of revenue
- Dividends paid
- no data
From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.
Earnings quality and debt
- Operating cash flow ÷ net income (12 months)
- no datanot calculated with negative net income
- Debt due within 12 months
- $103M0.12 times cash and investments
From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.
Insiders (Form 4)
Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.
Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →
Above 5% (13D/13G)
Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.
This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.
- Continental General Insurance9.99%13G · amendmentfiling ↗Event: Sep 30, 2025 · filed: Nov 13, 2025
Above 5% over time (13D/13G)
Each holder with its filings in order. History since December 2024.
This company filed no 8-K forms in the last year. Foreign companies listed in the US (ADRs) report material events on forms 6-K and 20-F, and ETFs and funds do not file 8-Ks. If it is a foreign company listed in the US through ADRs (American Depositary Receipts), what trades are bank-issued certificates that represent shares from its home market. See its filings on EDGAR ↗
Other Information Technology stocks in managers' portfolios
Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.
- Alkami TechnologyALKT · 5 managers
- Applied DigitalAPLD · 5 managers
- QuantinuumQNT · 5 managers
- PAR TechnologyPAR · 6 managers
- Aurora InnovationAUR · 9 managers
- CCC Intelligent Solutions HoldingsCCC · 9 managers