VNET Group (VNET): 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
5 concentrated managers hold it; combined they have held more shares for 2 quarters in a row (3 added, 0 trimmed). Its median weight in those portfolios is 0.7%.
Who owns VNET Group?
VNET Group 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): PJ Millennium Limited Partnership, 38.1% (13D/A filed Sep 23, 2026), Shandong Hi-Speed Holdings Group, 38.1% (13D/A filed May 19, 2026), Sheng Chen, 24.8% (13D/A filed Sep 23, 2026), Point72 Asset Management, 6.6% (13G/A filed Aug 14, 2026) and Norges Bank, 5.9% (13G/A filed Jan 28, 2026). As of Jun 30, 2026, the largest ADR holders reported on Form 13F were Point72 Asset Management (18.3 million ADRs), Triata Capital (11.8 million ADRs) and Blackstone (10.4 million ADRs).
Which institutions hold the most VNET Group shares?
Per Form 13F filings as of Jun 30, 2026, in ADRs:
- 1. Point72 Asset Management: 18.3 million ADRs
- 2. Triata Capital: 11.8 million ADRs
- 3. Blackstone: 10.4 million ADRs
- 4. Mirae Asset Global Etfs Holdings: 9.7 million ADRs
- 5. Millennium Management: 8.8 million ADRs
- 6. Norges Bank: 8.5 million ADRs
- 7. Morgan Stanley: 7.9 million ADRs
- 8. UBS Group: 5.0 million ADRs
- 9. Infini Capital Management: 4.8 million ADRs
- 10. Carmignac Gestion: 4.8 million ADRs
Sources:13D/A by PJ Millennium Limited Partnership (Sep 23, 2026) ↗13D/A by Shandong Hi-Speed Holdings Group (May 19, 2026) ↗13D/A by Sheng Chen (Sep 23, 2026) ↗13G/A by Point72 Asset Management (Aug 14, 2026) ↗13G/A by Norges Bank (Jan 28, 2026) ↗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.
VNET Group revenue
VNET Group reported annual revenue of $544.3 million for fiscal year 2019 (year ended December 31, 2019), according to its Form 20-F filed with the SEC (XBRL data).
Quarter flow (concentrated managers)
Change in managers (5 → 5): 2 opened · 2 exited = 0
Net flow in the quarter: +$51.5M (+6.4 M shares) · bought $63.6M and sold $12.1MShares 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.
Accumulation: combined they have held more shares for 2 quarters in a row (3 added, 0 trimmed). It is the combined share count of those still holding it: one large buyer can outweigh many who trimmed.
The set of concentrated managers changed between quarters: with the set as it was then, 3 held it last quarter (the chart point); with today's set, 5 (the base for the change).
Concentrated managers holding it
- Carmignac GestionIncreased$38.1M0.5%+0.5 pp
- Senvest ManagementIncreased$24.9M0.7%+0.1 pp
- CoreView Capital ManagementNew$16.0M2.9%+2.9 pp
- Alden Global CapitalIncreased$11.6M4.2%+1.5 pp
- Greenwoods Asset Management Hong KongNew$5.2M0.2%+0.1 pp
Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.
Largest holders of VNET (all 13F filers)
- Point72 Asset Management18.3 MQuant or multi-manager · 1.13% of the company+2.2 M
- Triata Capital11.8 MType not verified · 0.73% of the company+576 K
- Blackstone10.4 MPrivate equity or venture capital · 0.65% of the company0
- Mirae Asset Global Etfs Holdings9.7 MIndex manager · 0.60% of the company+3.8 M
- Millennium Management8.8 MQuant or multi-manager · 0.54% of the company+3.6 M
- Norges Bank8.5 MPension or sovereign fund · 0.53% of the companyno data
- Morgan Stanley7.9 MBank or trading desk · 0.49% of the company+786 K
- UBS Group5.0 MBank or trading desk · 0.31% of the company−773 K
- Infini Capital Management4.8 MSingle-position portfolio · 0.30% of the companyno data
- Carmignac Gestionconcentrated4.8 MInvestment firm · 0.30% of the company+4.4 M
- Shares
- 18.3 M
- Change
- +2.2 M
- % of the company
- 1.13%
See more
- Type
- Quant or multi-manager
- Value
- $147M
- Triata Capital
- Shares
- 11.8 M
- Change
- +576 K
- % of the company
- 0.73%
See more
- Type
- Type not verified
- Value
- $94.6M
- Shares
- 10.4 M
- Change
- 0
- % of the company
- 0.65%
See more
- Type
- Private equity or venture capital
- Value
- $83.6M
- Shares
- 9.7 M
- Change
- +3.8 M
- % of the company
- 0.60%
See more
- Type
- Index manager
- Value
- $77.7M
- Shares
- 8.8 M
- Change
- +3.6 M
- % of the company
- 0.54%
See more
- Type
- Quant or multi-manager
- Value
- $70.5M
- Shares
- 8.5 M
- Change
- no data
- % of the company
- 0.53%
See more
- Type
- Pension or sovereign fund
- Value
- $68.6M
- Shares
- 7.9 M
- Change
- +786 K
- % of the company
- 0.49%
See more
- Type
- Bank or trading desk
- Value
- $63.3M
- Shares
- 5.0 M
- Change
- −773 K
- % of the company
- 0.31%
See more
- Type
- Bank or trading desk
- Value
- $39.9M
- Infini Capital Management
- Shares
- 4.8 M
- Change
- no data
- % of the company
- 0.30%
See more
- Type
- Single-position portfolio
- Value
- $38.9M
- Carmignac Gestionconcentrated
- Shares
- 4.8 M
- Change
- +4.4 M
- % of the company
- 0.30%
See more
- Type
- Investment firm
- Value
- $38.1M
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
- —
- Net margin
- —
- ROE
- -4.0%
- Revenue (TTM)
- —
- Revenue growth
- —
- Net income (TTM)
- $-36.0M
- Net debt / EBITDA
- 0.8x
- Free cash flow (TTM)
- $-821M
- 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: 1.61 bn
- 1 year
- −7.5%
- 3 years
- +81.8%
- 5 years
- +124.9%
- Buybacks (FY 2025)
- $2.5M
- Share issuance
- no data
- Stock-based compensation
- $3.7M
- 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
- Interest coverage (operating income ÷ interest)
- 1.3 timesfiscal 2025
- Debt due within 12 months
- $219M0.26 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)
10% owners who bought (6 m): 0
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.
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 ↗
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