Webull Corporation Class A Ordinary Shares

BULL • NASDAQ

Webull Corporation Class A Ordinary Shares is a publicly traded company on NASDAQ, with a market cap of $4.6B. As of Q3 2025, 31% of shares are held by 96 institutional investors, with Hillhouse Capital Advisors, Ltd. as the largest holder at 6.69%.

Market Cap$4.6B

Employees1.2K

Websitewebullcorp.com

Overview

Overview of institutional ownership in BULL as of Q3 2025 with a market cap of $7.3B

All Institutions

Institutions: 96
Value Held: $2.2B
Shares Held: 156.4M
Avg Position: $23.4M
Median Position: $579.6K

Hedge Funds

Hedge Funds: 21
Value Held: $428.7M
Shares Held: 29.0M
Avg Position: $20.4M
Median Position: $1.8M

Ownership Breakdown

Institutional (non-HF)

24.87%

$1.8B

Hedge Funds

5.86%

$428.7M

Retail & Other

69.27%

$5.1B

Based on market cap of $7.3B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in BULL as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
H Hillhouse Capital Advisors, Ltd. Institution	-	$489.3M 13.09% of portfolio	6.69% 33.1M shares	Q2 2025 Held for 5 months	$3.7B
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	-	$428.1M 0.63% of portfolio	5.85% 28.9M shares	Q2 2025 Held for 5 months	$67.9B
L Lunate Capital Ltd Institution	-	$231.1M 34.83% of portfolio	3.16% 15.6M shares	Q3 2025 Held for 2 months	$663.5M
TIGER GLOBAL MANAGEMENT LLC Hedge Fund•Long/Short	Eric Scott Lane President	$173.4M 0.54% of portfolio	2.37% 11.7M shares	Q2 2025 Held for 5 months	$32.4B
C COATUE MANAGEMENT LLC Hedge Fund•Multi-Strategy	Thomas Jerome Laffont Founder	$170.4M 0.42% of portfolio	2.33% 11.5M shares	Q2 2025 Held for 5 months	$40.8B
R RIT CAPITAL PARTNERS PLC Institution	-	$118.3M 17.34% of portfolio	2.02% 10.0M shares	Q2 2025 Held for 5 months	$682.2M
P PEAK6 LLC Institution	-	$108.0M 2.92% of portfolio	1.48% 7.3M shares	Q2 2025 Held for 5 months	$3.7B
G GENERAL ATLANTIC LLC Institution	-	$106.5M 3.20% of portfolio	1.46% 7.2M shares	Q2 2025 Held for 5 months	$3.3B
S SC CHINA HOLDING Ltd Institution	-	$106.4M 5.73% of portfolio	1.93% 9.6M shares	Q2 2025 Held for 5 months	$1.9B
Lightspeed Management Company, L.L.C. Private Equity	Aaron Michael Perrine Managing Partner	$105.7M 38.90% of portfolio	1.45% 7.1M shares	Q2 2025 Held for 5 months	$271.8M

Net Capital Flow

Institutional buying and selling activity for BULL in Q3 2025

Traded: +$483.5M
Buyers: 75
Sellers: 35
Total Bought: +$799.8M
Total Sold: −$316.3M
Avg Position: $18.9M

Biggest Buyers

Institution	Net Bought	Current Position
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$414.0M +28.0M shares	$428.1M 28.9M shares
L Lunate Capital Ltd Institution	+$231.1M +15.6M shares	$231.1M 15.6M shares
Azora Capital LP Hedge Fund•Long/Short	+$37.2M +2.5M shares	$48.6M 3.3M shares
BANK OF AMERICA CORP /DE/ Institution	+$25.6M +1.7M shares	$29.3M 2.0M shares
Walleye Trading LLC RIA/Wealth	+$8.6M +584.2K shares	$8.6M 584.2K shares
MORGAN STANLEY RIA/Wealth	+$8.5M +577.7K shares	$13.4M 907.2K shares
Toroso Investments, LLC ETF Provider	+$6.7M +452.6K shares	$6.7M 452.6K shares
Q Quadrature Capital Ltd Institution	+$6.7M +452.6K shares	$7.3M 496.0K shares
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	+$5.5M +369.3K shares	$5.5M 369.3K shares
BARCLAYS PLC Institution	+$5.3M +357.9K shares	$6.5M 437.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
P PEAK6 LLC Institution	−$285.0M −19.3M shares	$108.0M 7.3M shares
UBS Group AG Institution	−$5.6M −379.7K shares	$10.7M 722.3K shares
Jain Global LLC Hedge Fund•Multi-Strategy	−$3.6M −303.6K shares	Sold Off 0 shares
S Skaana Management L.P. Hedge Fund•Convert Bond Arb	−$3.1M −212.8K shares	$1.8M 121.5K shares
B BNP PARIBAS ARBITRAGE, SA Institution	−$3.1M −208.0K shares	$1.7M 115.7K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$2.6M −219.5K shares	Sold Off 0 shares
S Sassicaia Capital Advisers LLC Institution	−$1.8M −148.0K shares	Sold Off 0 shares
W WOLVERINE TRADING, LLC Institution	−$1.5M −93.3K shares	$386.2K 24.8K shares
J JANE STREET GROUP, LLC Institution	−$1.4M −97.0K shares	$2.3M 153.7K shares
C CSS LLC/IL Institution	−$1.2M −101.4K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited BULL in Q3 2025

New Positions: 49
New Value: $282.9M
Exited Positions: 22
Exited Value: $14.4M

New Positions

Institution	Position Value
L Lunate Capital Ltd Institution	$231.1M 15.6M shares
Walleye Trading LLC RIA/Wealth	$8.6M 584.2K shares
Toroso Investments, LLC ETF Provider	$6.7M 452.6K shares
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$5.5M 369.3K shares
Archon Capital Management LLC Hedge Fund•Long/Short	$5.2M 350.0K shares
G GROUP ONE TRADING, L.P. Institution	$4.1M 276.9K shares
M MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Institution	$2.9M 198.6K shares
H Hidden Lake Asset Management LP Hedge Fund•Long/Short	$2.3M 154.4K shares
V Vienna Asset Management LLC RIA/Wealth	$2.1M 144.4K shares
Y Y-Intercept Ltd Institution	$1.7M 114.2K shares

Exited Positions

Institution	Previous Position
Jain Global LLC Hedge Fund•Multi-Strategy	$3.6M 303.6K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$2.6M 219.5K shares
S Sassicaia Capital Advisers LLC Institution	$1.8M 148.0K shares
C CSS LLC/IL Institution	$1.2M 101.4K shares
Cable Car Capital LLC Hedge Fund•Long/Short	$1.0M 87.5K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	$1.0M 83.9K shares
M Marathon Trading Investment Management LLC Institution	$598.5K 50.0K shares
S SIMPLEX TRADING, LLC Institution	$532.1K 44.5K shares
Caitong International Asset Management Co., Ltd RIA/Wealth	$439.1K 36.7K shares
W Warberg Asset Management LLC Hedge Fund•Multi-Strategy	$358.8K 30.0K shares

Options Activity

Institutions with the largest Call and Put options positions in BULL as of Q3 2025

Call Positions: 26
Call Value: $334.1M
Put Positions: 25
Put Value: $280.8M

Call Positions

Institution	Position Value
P PEAK6 LLC Institution	$96.1M 65.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$70.8M 47.9K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$44.7M 30.2K contracts
J JANE STREET GROUP, LLC Institution	$44.4M 30.1K contracts
BARCLAYS PLC Institution	$23.3M 15.7K contracts
W WOLVERINE TRADING, LLC Institution	$11.9M 7.6K contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$11.2M 7.6K contracts
S Skaana Management L.P. Hedge Fund•Convert Bond Arb	$6.1M 4.1K contracts
BANK OF MONTREAL /CAN/ Institution	$5.0M 3.4K contracts
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$4.3M 2.9K contracts

Put Positions

Institution	Position Value
R RIT CAPITAL PARTNERS PLC Institution	$73.5M 49.7K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$54.9M 37.2K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$45.1M 30.5K contracts
J JANE STREET GROUP, LLC Institution	$20.5M 13.8K contracts
Blackstone Group L.P. Institution	$16.3M 11.0K contracts
BANK OF AMERICA CORP /DE/ Institution	$16.1M 10.9K contracts
GOLDMAN SACHS GROUP INC Institution	$14.1M 9.6K contracts
P PEAK6 LLC Institution	$11.1M 7.5K contracts
W WOLVERINE TRADING, LLC Institution	$5.1M 3.3K contracts
BARCLAYS PLC Institution	$4.8M 3.2K contracts

Most Committed Institutions

Institutions with BULL as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Lightspeed Management Company, L.L.C. Private Equity	Aaron Michael Perrine Managing Partner	38.90% $105.7M	1.45% 7.1M shares	Q2 2025 Held for 5 months	$271.8M
L Lunate Capital Ltd Institution	-	34.83% $231.1M	3.16% 15.6M shares	Q3 2025 Held for 2 months	$663.5M
R RIT CAPITAL PARTNERS PLC Institution	-	17.34% $118.3M	2.02% 10.0M shares	Q2 2025 Held for 5 months	$682.2M
H Hillhouse Capital Advisors, Ltd. Institution	-	13.09% $489.3M	6.69% 33.1M shares	Q2 2025 Held for 5 months	$3.7B
S SC CHINA HOLDING Ltd Institution	-	5.73% $106.4M	1.93% 9.6M shares	Q2 2025 Held for 5 months	$1.9B
Sandia Investment Management LP Hedge Fund•Event Driven	Timothy Joel Sichler Founder	3.24% $953.9K	0.01% 64.5K shares	Q2 2025 Held for 5 months	$29.5M
G GENERAL ATLANTIC LLC Institution	-	3.20% $106.5M	1.46% 7.2M shares	Q2 2025 Held for 5 months	$3.3B
Archon Capital Management LLC Hedge Fund•Long/Short	Constantinos John Christofilis Managing Partner	3.09% $5.2M	0.07% 350.0K shares	Q3 2025 Held for 2 months	$167.6M
P PEAK6 LLC Institution	-	2.92% $108.0M	1.48% 7.3M shares	Q2 2025 Held for 5 months	$3.7B
S Skaana Management L.P. Hedge Fund•Convert Bond Arb	Daniel Charles Katzner CIO	2.42% $1.8M	0.02% 121.5K shares	Q2 2025 Held for 5 months	$74.1M

Hedge Fund Spotlight

Discover hedge funds investing in BULL

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.08B
Positions: 5,531
Last Reported: Q3 2025

Sector Allocation

Position in Webull Corporation Class A Ordinary Shares

Market Value: $7.8M
Shares Held: 529.1K
Portfolio Weight: 0.01%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 Microsoft MSFT	Software - Infrastructure Technology	$2.1B	1.68%
2 Nvidia NVDA	Semiconductors Technology	$1.8B	1.50%
3 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$1.4B	1.18%