PDD Holdings Inc.
PDD- Exchange
- Nasdaq
- Industry
- Services-Business Services, NEC
- SEC CIK
- 0001737806
In the last 90 days, PDD Holdings Inc. insiders filed 0 open-market purchases and 1 sale; 508 institutions reported holding it in 13F filings for Q2 2026, worth $32.9B in total; 4 superinvestors hold it, including H&H International Investment and Himalaya Capital.
13F holders, Q3 2025
Institutional positions in PDD Holdings Inc. as of Sep 30, 2025. Investment managers with $100 million or more in US stocks report their long positions on Form 13F within 45 days after each quarter ends. How 13F works
- Institutional holders
- 560
- +29 vs. Q2 2025
- Shares held
- 408.5M
- +11.3M (+2.8%) vs. Q2 2025
- Total value
- $53.9B
- +$12.4B (+29.8%) vs. Q2 2025
- New holders
- 93
- 220 more added
- Sold out
- 64
- 177 more reduced
6 institutions that held it in Q2 2025 haven't filed for Q3 2025 yet. Not filing isn't selling, so they aren't counted as sold out or in the changes above.
Compare with Q2 2025: new holders, sold out and not filed yet
Holders and value by quarter
Institutions reporting PDD on Form 13F each quarter since Q1 2021, and the total value they reported. Values are as of each quarter end, so they also move with the share price.
| Quarter | Holders | Value |
|---|---|---|
| Q2 2026 | 508 | $32.9B |
| Q1 2026 | 568 | $43.4B |
| Q4 2025 | 574 | $49.6B |
| Q3 2025 | 560 | $53.9B |
| Q2 2025 | 537 | $42.9B |
| Q1 2025 | 584 | $49.1B |
| Q4 2024 | 587 | $39.5B |
| Q3 2024 | 602 | $55.8B |
| Q2 2024 | 646 | $57.6B |
| Q1 2024 | 577 | $44.2B |
| Q4 2023 | 584 | $55.8B |
| Q3 2023 | 473 | $35.8B |
| Q2 2023 | 452 | $23.2B |
| Q1 2023 | 468 | $25.9B |
| Q4 2022 | 451 | $26.5B |
| Q3 2022 | 411 | $19.2B |
| Q2 2022 | 394 | $17.7B |
| Q1 2022 | 353 | $11.0B |
| Q4 2021 | 362 | $15.7B |
| Q3 2021 | 396 | $24.7B |
| Q2 2021 | 415 | $31.8B |
| Q1 2021 | 442 | $31.9B |
Institutions, Q3 2025
Shares, value and share of portfolio for each institution holding PDD Holdings Inc.; share changes are against Q2 2025.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| Macquarie Group Ltd | 1,267,720 | $167.6M | 0.20% | −17,200−1.3% | Reduced |
| Perseverance Asset Management International | 1,333,235 | $176.2M | 30.28% | +20,572+1.6% | Added |
| Citadel Advisors LLC | 1,344,058 | $177.6M | 0.14% | +1,040,351+342.6% | Added |
| Altimeter Capital Management, LPSuperinvestorAltimeter Capital | 1,371,680 | $181.3M | 2.39% | +1,371,680 | New |
| Schroder Investment Management Group | 1,380,013 | $182.4M | 0.14% | −937,940−40.5% | Reduced |
| Arrowstreet Capital, Limited Partnership | 1,487,766 | $196.6M | 0.12% | +1,487,766 | New |
| Prudential PLC | 1,556,903 | $205.8M | 1.51% | −61,150−3.8% | Reduced |
| Point72 Hong Kong Ltd | 1,577,173 | $208.5M | 9.63% | +1,077,365+215.6% | Added |
| Swiss National Bank | 1,600,444 | $211.5M | 0.12% | +26,600+1.7% | Added |
| Robeco Institutional Asset Management B.V. | 1,612,868 | $213.2M | 0.31% | +380,141+30.8% | Added |
| Assenagon Asset Management S.A. | 1,658,082 | $219.1M | 0.32% | −5,736,129−77.6% | Reduced |
| Barclays PLC | 1,685,699 | $222.8M | 0.08% | +26,318+1.6% | Added |
| Sumitomo Mitsui Trust Holdings, Inc. | 1,719,535 | $227.3M | 0.13% | +74,225+4.5% | Added |
| Bank of New York Mellon Corp | 1,738,478 | $229.8M | 0.04% | −122,053−6.6% | Reduced |
| Nuveen, LLC | 1,750,903 | $231.4M | 0.06% | +420,291+31.6% | Added |
| Appaloosa LPSuperinvestorAppaloosa | 1,800,000 | $237.9M | 3.22% | −200,000−10.0% | Reduced |
| Dragoneer Investment Group, LLC | 1,835,428 | $242.6M | 5.36% | −1,700,180−48.1% | Reduced |
| IDG China Venture Capital Fund IV Associates L.P. | 1,997,996 | $264.1M | 55.43% | −632,986−24.1% | Reduced |
| Citigroup Inc | 2,163,383 | $285.9M | 0.20% | +481,451+28.6% | Added |
| Marshall Wace, LLP | 2,354,164 | $311.1M | 0.34% | +952,623+68.0% | Added |
| UBS Group AG | 2,465,444 | $325.9M | 0.06% | −1,344,348−35.3% | Reduced |
| Capital Today Evergreen Fund, L.P. | 2,493,586 | $329.6M | 92.62% | 00.0% | Unchanged |
| Mitsubishi UFJ Trust & Banking Corp | 2,523,266 | $333.5M | 0.73% | +649,524+34.7% | Added |
| Triata Capital Ltd | 2,544,478 | $336.3M | 39.25% | +910,150+55.7% | Added |
| SRS Investment Management, LLC | 2,654,394 | $350.8M | 3.82% | −1,409,987−34.7% | Reduced |
| Deutsche Bank AG | 2,703,346 | $357.3M | 0.12% | −247,068−8.4% | Reduced |
| Bank of America Corp | 2,737,642 | $361.8M | 0.03% | −103,939−3.7% | Reduced |
| Aspex Management (HK) Ltd | 3,172,333 | $419.3M | 8.96% | +3,172,333 | New |
| Northern Trust Corp | 3,213,342 | $424.7M | 0.05% | +66,001+2.1% | Added |
| Susquehanna International Group, LLP | 3,239,227 | $428.1M | 0.63% | +2,118,467+189.0% | Added |
| Greenwoods Asset Management Hong Kong Ltd.SuperinvestorGreenwoods Asset Management | 3,356,964 | $443.7M | 9.99% | +137,125+4.3% | Added |
| Dimensional Fund Advisors LP | 3,426,879 | $452.7M | 0.10% | +119,738+3.6% | Added |
| NetEase, Inc. | 3,555,488 | $469.9M | 94.22% | 00.0% | Unchanged |
| Capital International Investors | 3,891,319 | $514.3M | 0.08% | +265,408+7.3% | Added |
| Temasek Holdings (Private) Ltd | 4,348,247 | $574.7M | 2.00% | +2,896,293+199.5% | Added |
| Legal & General Group Plc | 4,525,500 | $598.1M | 0.13% | +55,521+1.2% | Added |
| Himalaya Capital Management LLCSuperinvestorHimalaya Capital | 4,608,000 | $609.0M | 18.85% | 00.0% | Unchanged |
| Jane Street Group, LLC | 4,675,629 | $618.0M | 0.72% | +2,934,823+168.6% | Added |
| BNP Paribas Arbitrage, SA | 5,042,763 | $666.5M | 0.52% | −421,328−7.7% | Reduced |
| Invesco Ltd. | 5,278,026 | $697.6M | 0.11% | +1,315,382+33.2% | Added |
| Price T Rowe Associates Inc | 5,370,372 | $709.8M | 0.08% | +332,847+6.6% | Added |
| JPMorgan Chase & Co | 5,581,827 | $737.8M | 0.05% | +831,263+17.5% | Added |
| Krane Funds Advisors LLC | 6,139,072 | $792.4M | 22.52% | +1,247,634+25.5% | Added |
| First Beijing Investment Ltd | 6,168,721 | $815.3M | 31.48% | +590,869+10.6% | Added |
| Geode Capital Management, LLC | 6,399,859 | $840.1M | 0.05% | +173,321+2.8% | Added |
| Orbis Allan Gray Ltd | 6,942,339 | $917.6M | 3.94% | +1,294,611+22.9% | Added |
| Morgan Stanley | 7,096,162 | $937.9M | 0.06% | −1,039,647−12.8% | Reduced |
| FIL Ltd | 7,212,310 | $953.3M | 0.75% | +3,653,902+102.7% | Added |
| Sanders Capital, LLC | 8,133,290 | $1.07B | 1.32% | −393,320−4.6% | Reduced |
| HSBC Holdings PLC | 8,407,658 | $1.11B | 0.65% | +4,082,645+94.4% | Added |
| H&H International Investment, LLCSuperinvestorH&H International Investment | 8,574,194 | $1.13B | 7.72% | −88,500−1.0% | Reduced |
| HHLR Advisors, Ltd.SuperinvestorHHLR Advisors (Hillhouse) | 8,592,600 | $1.14B | 27.76% | +1,615,796+23.2% | Added |
| SC US (TTGP), Ltd. | 8,841,576 | $1.17B | 7.21% | −1,751,059−16.5% | Reduced |
| Goldman Sachs Group Inc | 10,051,279 | $1.33B | 0.19% | −80,497−0.8% | Reduced |
| SC China Holding Ltd | 11,348,426 | $1.48B | 77.21% | −2,247,569−16.5% | Reduced |
| State Street Corp | 12,103,482 | $1.60B | 0.06% | +374,909+3.2% | Added |
| FMR LLC | 17,319,713 | $2.29B | 0.12% | +2,386,648+16.0% | Added |
| Baillie Gifford & Co | 31,799,003 | $4.20B | 3.11% | −2,573,709−7.5% | Reduced |
| Vanguard Group Inc | 32,384,722 | $4.28B | 0.06% | +348,997+1.1% | Added |
| BlackRock, Inc. | 35,843,251 | $4.74B | 0.08% | +2,544,510+7.6% | Added |
| UBS Asset Management Americas Inc | 0 | $0 | 0.00% | −9,239,441−100.0% | Sold out |
| IMC-Chicago, LLC | 0 | $0 | 0.00% | −1,085,536−100.0% | Sold out |
| Walleye Trading LLC | 0 | $0 | 0.00% | −1,033,350−100.0% | Sold out |
| Alpine Investment Management Ltd | 0 | $0 | 0.00% | −900,000−100.0% | Sold out |
| Yong Rong (HK) Asset Management Ltd | 0 | $0 | 0.00% | −497,900−100.0% | Sold out |
| Think Investments LP | 0 | $0 | 0.00% | −256,200−100.0% | Sold out |
| AXA S.A. | 0 | $0 | 0.00% | −191,012−100.0% | Sold out |
| Public Investment Fund | 0 | $0 | 0.00% | −162,199−100.0% | Sold out |
| Principal Financial Group Inc | 0 | $0 | 0.00% | −107,934−100.0% | Sold out |
| Twenty Acre Capital LP | 0 | $0 | 0.00% | −81,200−100.0% | Sold out |
| Sylebra Capital LLC | 0 | $0 | 0.00% | −64,989−100.0% | Sold out |
| Maxi Investments CY Ltd | 0 | $0 | 0.00% | −50,000−100.0% | Sold out |
| Virginia Retirement Systems Et Al | 0 | $0 | 0.00% | −37,600−100.0% | Sold out |
| Keystone Investors Pte Ltd | 0 | $0 | 0.00% | −31,515−100.0% | Sold out |
| M&T Bank Corp | 0 | $0 | 0.00% | −28,150−100.0% | Sold out |
| Group One Trading, L.P. | 0 | $0 | 0.00% | −23,527−100.0% | Sold out |
| Grafton Street Partners Fund, LP | 0 | $0 | 0.00% | −21,705−100.0% | Sold out |
| Kames Capital plc | 0 | $0 | 0.00% | −21,300−100.0% | Sold out |
| Garda Capital Partners LP | 0 | $0 | 0.00% | −17,542−100.0% | Sold out |
| Sig Brokerage, LP | 0 | $0 | 0.00% | −16,675−100.0% | Sold out |
| State of New Jersey Common Pension Fund D | 0 | $0 | 0.00% | −15,813−100.0% | Sold out |
| Kamunting Street Capital Management, L.P. | 0 | $0 | 0.00% | −15,000−100.0% | Sold out |
| Polymer Capital Management (US) LLC | 0 | $0 | 0.00% | −11,800−100.0% | Sold out |
| Anson Funds Management LP | 0 | $0 | 0.00% | −10,000−100.0% | Sold out |
| Maven Securities LTD | 0 | $0 | 0.00% | −9,784−100.0% | Sold out |
| J. Safra Sarasin Holding AG | 0 | $0 | 0.00% | −9,693−100.0% | Sold out |
| Truist Financial Corp | 0 | $0 | 0.00% | −8,924−100.0% | Sold out |
| Dark Forest Capital Management LP | 0 | $0 | 0.00% | −8,305−100.0% | Sold out |
| Flow Traders U.S. LLC | 0 | $0 | 0.00% | −6,988−100.0% | Sold out |
| Kovitz Investment Group Partners, LLC | 0 | $0 | 0.00% | −6,791−100.0% | Sold out |
| DRW Securities, LLC | 0 | $0 | 0.00% | −6,541−100.0% | Sold out |
| Mangrove Partners | 0 | $0 | 0.00% | −6,064−100.0% | Sold out |
| StepStone Group LP | 0 | $0 | 0.00% | −7,032−100.0% | Sold out |
| Royal Fund Management, LLC | 0 | $0 | 0.00% | −5,835−100.0% | Sold out |
| Luxor Capital Group, LP | 0 | $0 | 0.00% | −4,000−100.0% | Sold out |
| Tounjian Advisory Partners, LLC | 0 | $0 | 0.00% | −3,502−100.0% | Sold out |
| Equitable Holdings, Inc. | 0 | $0 | 0.00% | −3,725−100.0% | Sold out |
| LGT Group Foundation | 0 | $0 | 0.00% | −3,500−100.0% | Sold out |
| Institute for Wealth Management, LLC. | 0 | $0 | 0.00% | −2,980−100.0% | Sold out |
| Principal Street Partners, LLC | 0 | $0 | 0.00% | −2,648−100.0% | Sold out |