D-MARKET Electronic Services & Trading - Ordinary Shares, nominal value TRY 0.20 per share (HEPS)

Q: What does CUSIP 23292B104 represent in this 13F holders report?

CUSIP 23292B104 is the security identifier for HEPS - D-MARKET Electronic Services & Trading - Ordinary Shares, nominal value TRY 0.20 per share used to aggregate holder disclosures.

Q: How many institutions held HEPS - D-MARKET Electronic Services & Trading - Ordinary Shares, nominal value TRY 0.20 per share in Q3 2025?

43 institutional investors reported HEPS - D-MARKET Electronic Services & Trading - Ordinary Shares, nominal value TRY 0.20 per share for Q3 2025. Use the holders table for investor-level position and value details.

CUSIP: 23292B104

Q3 2025 13F Holders as of 30 Sep 2025

Security type / class: Equity / Ordinary Shares, nominal value TRY 0.20 per share
Total 13F shares: 42,348,571
Total 13F value: $113,918,818
Share change: -346,242
SEC-reported price per share: $2.69
Number of holders: 43
Value change: -$955,684
Number of buys: 24
Number of sells: 24
Shares outstanding: 428,662,118

Security key

23292B104

Report period

Q3 2025

Institutions

Top holders

HEPS full security history Ownership snapshot Full 13F holder table Newer quarter: Q3 2026 D-MARKET Electronic Services & Trading SEC filings D-MARKET Electronic Services & Trading company facts

Broader feeds

Latest 13F filings Latest 13D/G filings Investors directory

Reporting periods

Holder history for CUSIP 23292B104

Newer quarter: Q3 2026

Recent filing periods:

Q3 2026

Ownership snapshot

Top reported holders of HEPS - D-MARKET Electronic Services & Trading - Ordinary Shares, nominal value TRY 0.20 per share (13F + 13D/G + 3/4/5)

Grouped by holder across the latest SEC ownership disclosures. Start with comparable ownership when available, then verify the linked 13F, 13D/G, or 3/4/5 evidence.

Comparable stake leader

VR Advisory Services Ltd

Disclosed value leader

VR Advisory Services Ltd

Comparable rows

0/15

Latest evidence

30 Jun 2025

13F Highest disclosed value: $37,623,110 15 rows are not safely comparable across share classes. Showing 1-6 of 15 holder rows.

Quick read

VR Advisory Services Ltd has the largest disclosed position value at $37.62M.

0 of 15 rows have a safely comparable ownership percentage. Use this as a filing-backed starting point, then open the detailed table for source links, reporting role, position value, share count, and filing date.

Open SEC evidence Opens VR Advisory Services Ltd's linked filing trail.

Disclosed position value Top 5

VR Advisory Services Ltd $37.62M

BRIGHTLIGHT CAPITAL MANAGEMENT LP $17.02M

Hosking Partners LLP $10.23M

Luxor Capital Group, LP $9.72M

Tekne Capital Management, LLC $8.34M

Value bars compare disclosed positions; verify each figure against the linked filing evidence.

Detailed SEC evidence table Showing 1-6 of 15 holder rows

Holder	Evidence	Ownership %	Position	12M Net Δ	As of
VR Advisory Services Ltd	13F Company 13F	— denominator unverified	$37,623,110 13,934,485 shares	—	30 Jun 2025
BRIGHTLIGHT CAPITAL MANAGEMENT LP	13F Company 13F	— denominator unverified	$17,020,989 6,304,070 shares	—	30 Jun 2025
Hosking Partners LLP	13F Company 13F	— denominator unverified	$10,228,796 3,788,443 shares	—	30 Jun 2025
Luxor Capital Group, LP	13F Company 13F	— denominator unverified	$9,715,097 3,598,184 shares	—	30 Jun 2025
Tekne Capital Management, LLC	13F Company 13F	— denominator unverified	$8,340,837 3,089,199 shares	—	30 Jun 2025
BlackRock, Inc.	13F Company 13F	— denominator unverified	$8,147,998 3,017,777 shares	—	30 Jun 2025

How to read this table

Rows are grouped by holder and ranked first by SEC-reported ownership % when it is safely comparable, then by disclosed holdings value. — indicates unavailable or non-comparable values; "mixed-class rows" means the latest filing spans non-comparable classes.

13F holder rows

Institutional holders as of Q3 2025

Investor-level positions for this CUSIP, loaded as an interactive table.

Institutions

42,348,571

Rows available

Investor	Option	Weight %	Change %	SEC-reported value	* Price	Shares	Share Change	Activity	Report Period

^* SEC-reported price is the security price as of the portfolio date and can indicate the last known price at which the security was still held. The marker flags a reported price that did not pass the local price check.

Compare Q3 2025 vs Q2 2025 Across Filers

Q2 2025 holders

Q3 2025 holders

Holder diff

Investor	Q2 2025 Shares	Q3 2025 Shares	Share Diff	Share Chg %	Q2 2025 value	Q3 2025 value	Value change	Value Chg %

Trend: ostatnie 8 kwartałów (+ wybrane okresy porównania).

Quarterly Holders Trend

Quarterly Value Trend

Quarterly Shares Trend