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From Hedge Funds to Family Offices, Who is Quietly Buying HYPE through PURR?

ODAILY星球日报

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Original Article Title: "From Hedge Funds to Family Offices, Who Is Quietly Increasing HYPE Exposure Through PURR?"
Original Article Author: Wenser, Odaily Planet Daily

On June 30, HYPE treasury company Hyperliquid Strategies (PURR) was officially included in the Russell 3000 Index and Russell 2000 Index. Earlier, PURR had been included in the S&P Global BMI Index. Following the listing of HYPE-related ETFs, this milestone achievement is also seen as further evidence of Wall Street institutions positioning themselves in HYPE tokens and the Hyperliquid ecosystem.

Recently, with the latest 13F filing disclosures, more investment institutions have either initiated new positions or increased their holdings in PURR. Odaily Planet Daily took this as a cue to explore those representative institutions in the industry that are indirectly increasing their HYPE exposure. (Note: The total value of the following positions is calculated based on the June 30 PURR stock price)

Key Wall Street Institutions and Family Offices Actively Buying In: Duquesne Family Office, Renaissance Fund Stand Out

Let's first talk about hedge funds and family offices that have actively bought in or increased their holdings of PURR stock.

Duquesne Family Office: Holds $23 million in PURR Company Stock

The Duquesne Family Office, in their 13F filing report for the second quarter of 2026 submitted to the U.S. Securities and Exchange Commission (SEC), disclosed for the first time that as of June 30, they hold $23 million worth of shares in HYPE treasury company Hyperliquid Strategies Inc (NASDAQ: PURR). The institution currently has approximately $5.2 billion in assets under management.

Founded by Stanley Druckenmiller, one of Wall Street's most prestigious macro investors, the institution has a track record of over 30 years without losses. Druckenmiller, who came from the hedge fund of financial titan Soros, served as the chief trader and made a brilliant move in the classic 1992 "Pound Short" trade.

In addition, current Federal Reserve Chair Powell previously worked at the Duquesne Family Office, with his major asset scale exceeding $100 million before taking office, including two investments related to the Duquesne Family Office exceeding $50 million each, or related to his consulting work for the family office.

Renaissance Technologies: Holds $18.7 million of PURR Stock

Founded by the late mathematician Jim Simons and currently led by Peter Brown, the firm manages assets exceeding $96 billion. Its renowned flagship fund, Medallion, is one of the most successful hedge funds in history. According to its latest 13F filing, the firm increased its position by about 2.4 million shares of PURR stock, valued at around $18.7 million.

As the world's most famous quantitative hedge fund, Renaissance Technologies' quantitative algorithms and investment models have always been praised by numerous market investors. Holding PURR indicates that the stock has met the standards of its algorithmic screening in terms of quantitative factor modeling and pricing efficiency.

Slate Path Capital: Holds $21 million of PURR Stock

Founded by David Greenspan, who previously served as a partner and managing director at the well-known "Tiger Cub" hedge fund Blue Ridge Capital, Slate Path Capital is a typical fundamentally driven "Tiger Cub" fund, focusing on global equities and macro structural opportunities. Its current AUM is approximately $12 billion.

According to its latest 13F filing, the firm holds about 2.7 million shares of PURR, valued at around $21.4 million.

Discovery Capital Management: Holds $10.3 million of PURR Stock

Founded by Robert Citrone, also from the Tiger family of funds, Discovery was officially established in 1999 with current assets under management of around $3.5 billion. It is known for its focus on emerging markets, foreign exchange, fixed income, and global macro hedging trades.

Its investment style falls into the "aggressive opportunistic" category, excelling in seeking alpha in high-volatility assets. Currently, the firm holds about 1.3 million shares of PURR, valued at around $10.3 million.

Balyasny Asset Management: Holds $3 million of PURR Stock

Founded by Dmitry Balyasny, Scott Schroeder, and Taylor O'Malley, Balyasny Asset Management, with approximately 2,700 employees globally and 24 offices, is one of the world's top multi-strategy hedge funds. As of August 2026, the firm's AUM is around $38 billion.

The latest data shows that the institution holds about 386,000 shares of PURR stock, worth around $3 million.

Wealth High Governance Capital: Holds about $17.1 million worth of PURR stock

The institution is a Brazilian independent wealth management and asset management firm based in Sao Paulo. It is not a traditional bank-owned asset management institution but a boutique asset management platform founded by former Brazil private bank Credit Suisse executives around 2020. The key drivers of global asset investment are the institution's founding partner and CIO, Andrew Reider, who previously worked at the Moreira Salles family office and Verde Asset Management. Currently, the institution's total assets under management are approximately $940 million; its U.S. 13F filing stock portfolio size is around $640 million.

The latest data shows that the institution's total holdings include about 1.82% of PURR stock, valued at around $17.1 million.

In addition to the above institution, active buyers of PURR stock include Tudor Investment Corporation, Point72, D.E. Shaw, among others. However, due to their smaller position sizes, they are not elaborated here.

Passive Holding Giants: Vanguard Group and Nuveen

As mentioned earlier, apart from actively increasing hedge funds and other institutions, Vanguard Group and TIAA's asset management platform Nuveen benefited from the inclusion of PURR in the Russell Index and passively increased their holdings of PURR stock.

Among them, the global asset management giant Vanguard Group, with assets under management exceeding $10 trillion, increased its PURR stock holding by approximately 843,000 shares in Q2, worth around $6.6 million; TIAA's asset management platform Nuveen, with assets under management currently around $1.4 trillion, tracing back to as early as 1898, increased its holdings by around 1.07 million shares of PURR stock in Q2, valued at approximately $8.4 million.

According to Marketbeat data, institutional purchases of PURR in Q2 2026 amounted to approximately $142 million.

Recently disclosed institutions holding PURR stock include well-known names such as Paradigm and Bank of America, with holdings typically ranging from tens of thousands to millions of dollars.

Of course, the disclosure information in the 13F filings is up to June 30, and the holdings of major investment institutions in PURR may have changed to some extent. However, looking at the overall trend, PURR's institutional investors have gradually transitioned from early-stage crypto arbitrage firms to quantitative funds, hedge funds, and even Wall Street traditional financial institutions. Institutions such as BlackRock, Jane Street, Geode, and Invesco have also seen passive buying in index funds. In other words, HYPE token investment exposure and the Hyperliquid ecosystem have attracted more and more attention, experimentation, and position allocation from the traditional financial industry. Even the state of Ohio in the United States has indirectly held PURR stock to achieve this goal. In the search for the "next generation of global financial infrastructure," traditional financial institutions have never sat idly by.

However, the future is bright but the road is winding. Before the Hyperliquid welcomes more global capital liquidity in the future, the price performance of the HYPE token and the continued development of the Hyperliquid ecosystem still have a long way to go.

Recently, Hyperliquid's "AQAv2 Revenue Sharing Mechanism," set to launch on August 26, is expected to contribute $200 million in annual HYPE buyback funds, a mechanism supported by Circle and Coinbase. With this positive stimulus and the continuous development of the Hyperliquid HIP-3 and HIP-4 markets, the HYPE token price is expected to usher in a new round of rebound.

ETH was once seen as the "global financial asset taken over by Wall Street institutions," and now, this expectation has shifted to HYPE. Whether it can live up to this expectation may be revealed in Q4 of this year.