DAONYSEServices-Educational ServicesFiscal year ends December 31
Youdao, Inc.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 15, 2026
$18.75+0.59 (+3.25%)
Close on Oct 19, 2026
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
4.7%
11M of 241M shares
Institutional holders
33
5 new, 4 sold out
Net institutional buying
-0M
In Q2 2026
Insider trades, 12 months
0 buys · 10 sales
Net bought $0
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Orbis Investment Management Ltd | 8,976,659 | 28.70% | 13G (passive) amendment | Dec 31, 2024 |
| Orbis Investment Management Limited | 6,563,497 | 20.10% | 13G (passive) amendment | Jun 30, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of DAO | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Orbis Allan Gray Ltd | 6,563,497 | 2.72% | $80.73M | −175,227 | 0.28% |
| NetEase, Inc. | 2,898,293 | 1.20% | $35.65M | – | 4.66% |
| Vanguard Capital Management LLC | 840,158 | 0.35% | $10.33M | +7,728 | 0.00% |
| Acadian Asset Management LLC | 227,454 | 0.09% | $2.79K | −68,170 | 0.00% |
| Vanguard Fiduciary Trust Co | 211,666 | 0.09% | $2.60M | – | 0.00% |
| Connor, Clark & Lunn Investment Management Ltd. | 211,199 | 0.09% | $2.60M | −14,809 | 0.00% |
| UBS Group AG | 65,644 | 0.03% | $807.42K | +10,710 | 0.00% |
| Gsa Capital Partners Llp | 62,966 | 0.03% | $774 | −5,976 | 0.05% |
| Citadel Advisors LLC | 59,247 | 0.02% | $728.74K | +8,608 | 0.00% |
| Renaissance Technologies LLC | 58,600 | 0.02% | $720.78K | −4,900 | 0.00% |
| Qube Research & Technologies Ltd | 46,477 | 0.02% | $571.67K | −14,035 | 0.00% |
| California Public Employees Retirement System | 36,047 | 0.01% | $443.38K | −940 | 0.00% |
| Public Employees Retirement System Of Ohio | 28,104 | 0.01% | $345.68K | −237 | 0.00% |
| Invesco Ltd. | 23,744 | 0.01% | $292.05K | −3,301 | 0.00% |
| Savant Capital, LLC | 13,572 | 0.01% | $150.43K | New | 0.00% |
| Morgan Stanley | 6,883 | 0.00% | $84.66K | −15,291 | 0.00% |
| VANGUARD ASSET MANAGEMENT, Ltd | 3,843 | 0.00% | $47.27K | – | 0.00% |
| Tower Research Capital LLC (TRC) | 2,957 | 0.00% | $36.37K | +2,089 | 0.00% |
| Compagnie Lombard Odier SCmA | 2,000 | 0.00% | $24.60K | – | 0.00% |
| Rhumbline Advisers | 1,219 | 0.00% | $14.99K | – | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 33 | 11M | 4.7% | 5 / 7 | 11 / 4 | 0M | 0M |
| Q1 2026 | 33 | 12M | 4.9% | 9 / 9 | 10 / 6 | 1M | 0M |
| Q4 2025 | 31 | 12M | 5.0% | 3 / 7 | 14 / 6 | 0M | 1M |
| Q3 2025 | 34 | 12M | 5.2% | 6 / 8 | 14 / 2 | 0M | 0M |
| Q2 2025 | 30 | 13M | 5.2% | 4 / 11 | 10 / 4 | 0M | 1M |
| Q1 2025 | 30 | 13M | 5.6% | 7 / 13 | 7 / 7 | 0M | 1M |
| Q4 2024 | 30 | 14M | 5.8% | 8 / 7 | 8 / 7 | 0M | 1M |
| Q3 2024 | 29 | 14M | 6.0% | 4 / 3 | 14 / 10 | 0M | 1M |
| Q2 2024 | 35 | 15M | 6.2% | 7 / 5 | 17 / 5 | 0M | 1M |
| Q1 2024 | 33 | 16M | 6.6% | 9 / 7 | 8 / 11 | 0M | 1M |
| Q4 2023 | 35 | 17M | 7.1% | 4 / 5 | 15 / 3 | 0M | 1M |
| Q3 2023 | 34 | 18M | 7.5% | 2 / 17 | 7 / 10 | 0M | 2M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of DAO | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total International Stock Index Fund | 369,834 | 0.15% | $6.21M | 0.00% | Jul 31, 2026 |
| Vanguard Emerging Markets Stock Index Fund | 345,764 | 0.14% | $5.81M | 0.00% | Jul 31, 2026 |
| Vanguard Ftse All-World Ex-US Small-Cap Index Fund | 98,155 | 0.04% | $1.65M | 0.01% | Jul 31, 2026 |
| Invesco Golden Dragon China ETF | 23,378 | 0.01% | $392.75K | 0.40% | Jul 31, 2026 |
| Vanguard Total World Stock Index Fund | 22,058 | 0.01% | $370.57K | 0.00% | Jul 31, 2026 |
| Dimensional Emerging Markets Core Equity 2 ETF | 18,612 | 0.01% | $312.68K | 0.00% | Jul 31, 2026 |
| Dimensional World ex. U.S. Core Equity 2 ETF | 15,479 | 0.01% | $260.05K | 0.00% | Jul 31, 2026 |
| Emerging Markets Core Equity 2 Portfolio | 14,060 | 0.01% | $236.21K | 0.00% | Jul 31, 2026 |
| ActivePassive International Equity ETF | 9,137 | 0.00% | $109.19K | 0.01% | May 31, 2026 |
| World ex U.S. Core Equity Portfolio | 7,669 | 0.00% | $128.84K | 0.00% | Jul 31, 2026 |
| Emerging Markets Social Core Equity Portfolio | 7,159 | 0.00% | $120.27K | 0.01% | Jul 31, 2026 |
| Dimensional Emerging Core Equity Market ETF | 6,923 | 0.00% | $116.31K | 0.00% | Jul 31, 2026 |
| The Emerging Markets Small Cap Series | 5,385 | 0.00% | $90.47K | 0.00% | Jul 31, 2026 |
| Avantis Emerging Markets Equity ETF | 4,860 | 0.00% | $58.08K | 0.00% | May 31, 2026 |
| Emerging Markets Sustainability Core 1 Portfolio | 4,721 | 0.00% | $79.31K | 0.01% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Feng Zhou | Chief Executive Officer, Director | 20,341,200 | 8.44% | Mar 18, 2026 |
| Yinghui Wu | Senior Vice President | 1,670,750 | 0.69% | Sep 11, 2026 |
| Lei Jin | president | 1,251,677 | 0.52% | Sep 11, 2026 |
| Su Peng | Senior Vice President | 30,750 | 0.01% | Sep 11, 2026 |
| Yongwei Li | Vice President | 5,720 | 0.00% | Jul 1, 2026 |
| Heung Yeung Shum | Director | 90,787 | 0.04% | Sep 2, 2026 |
| Jinhai Chen | Director | – | – | Aug 24, 2026 |
| Jimmy Y. Lai | Director | 80,220 | 0.03% | Jun 1, 2026 |
| William Lei Ding | Director | 32,244,881 | 13.38% | Mar 17, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Su Peng Senior Vice President | Sep 9, 2026 | Sale | −6,750 | – | – | 12,000 |
| Lei Jin president | Sep 9, 2026 | Sale | −70,047 | – | – | 143,598 |
| Yinghui Wu Senior Vice President | Sep 9, 2026 | Sale | −6,750 | – | – | 12,000 |
| Heung Yeung Shum Director | Sep 1, 2026 | Option exercise | +4,012 | – | – | 64,785 |
| Heung Yeung Shum Director | Sep 1, 2026 | Sale | −4,012 | – | – | 60,773 |
| Heung Yeung Shum Director | Aug 31, 2026 | Sale | −4,000 | – | – | 60,773 |
| Heung Yeung Shum Director | Aug 31, 2026 | Option exercise | +4,000 | – | – | 64,773 |
| Heung Yeung Shum Director | Aug 31, 2026 | Option exercise | +3,997 | – | – | 64,770 |
| Heung Yeung Shum Director | Aug 31, 2026 | Option exercise | +9,189 | – | – | 69,962 |
| Heung Yeung Shum Director | Aug 31, 2026 | Sale | −9,189 | – | – | 60,773 |
| Heung Yeung Shum Director | Aug 31, 2026 | Sale | −3,997 | – | – | 60,773 |
| Yongwei Li Vice President | Jun 30, 2026 | Option exercise | +2,300 | – | – | 5,720 |
| Yongwei Li Vice President | Jun 30, 2026 | Sale | −2,300 | – | – | 3,420 |
| Yongwei Li Vice President | Jun 29, 2026 | Option exercise | +4,000 | – | – | 7,420 |
| Yongwei Li Vice President | Jun 29, 2026 | Sale | −4,000 | – | – | 3,420 |
| Yongwei Li Vice President | Jun 1, 2026 | Award | +3,420 | – | – | 3,420 |
| Jimmy Y. Lai Director | May 29, 2026 | Award | +11,450 | – | – | 26,002 |
| Heung Yeung Shum Director | May 29, 2026 | Award | +11,450 | – | – | 26,002 |
| Su Peng Senior Vice President | May 29, 2026 | Award | +10,000 | – | – | 18,750 |
| Yinghui Wu Senior Vice President | May 29, 2026 | Award | +10,000 | – | – | 18,750 |
| Lei Jin president | May 29, 2026 | Award | +82,120 | – | – | 188,079 |
| Jimmy Y. Lai Director | May 28, 2026 | Option exercise | +3,997 | – | – | 54,218 |
| Jimmy Y. Lai Director | May 28, 2026 | Sale | −3,997 | – | – | 50,221 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Yinghui Wu Officer, SENIOR VICE PRESIDENT | Sep 1, 2026 | 6,750 | $110.63K | Sep 2, 2026 | SERVICE COMPENSATION |
| Su Peng Officer, SENIOR VICE PRESIDENT | Sep 1, 2026 | 6,750 | $110.63K | Sep 2, 2026 | SERVICE COMPENSATION |
| Lei Jin Officer, PRESIDENT | Sep 1, 2026 | 70,047 | $1.15M | Sep 2, 2026 | SERVICE COMPENSATION |
| Heung Yeung Shum Director, INDEPENDENT DIRECTOR | Aug 31, 2026 | 21,198 | $352.95K | Aug 31, 2026 | SERVICE COMPENSATION |
| Yongwei Li Officer, OFFICER VP | Jun 22, 2026 | 6,300 | $75.92K | Jun 22, 2026 | SERVICE COMPENSATION |
| Jimmy Y. Lai Director, INDEPENDENT DIRECTOR | May 28, 2026 | 3,997 | $47.52K | May 28, 2026 | SERVICE COMPENSATION |
| Renlei Liu Officer, VP | Mar 19, 2026 | 30,000 | $310.20K | Mar 18, 2026 | SERVICE COMPENSATION |
| Yongwei Li Officer, VICE PRESIDENT | Sep 24, 2025 | 8,000 | $75.04K | Sep 24, 2025 | SERVICE COMPENSATION |