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 |
|---|---|---|---|---|---|
| Franchise Capital Ltd | 501,460 | $66.3M | 28.85% | −590−0.1% | Reduced |
| Matthews International Capital Management LLC | 493,802 | $65.3M | 15.20% | −6,224−1.2% | Reduced |
| Trivest Advisors Ltd | 490,000 | $64.8M | 2.07% | +470,300+2,387.3% | Added |
| USS Investment Management Ltd | 472,054 | $62.4M | 0.30% | +260,209+122.8% | Added |
| Simplex Trading, LLC | 463,452 | $61.3M | 1.35% | +463,452 | New |
| Cat Rock Capital Management LP | 445,228 | $58.8M | 7.26% | −8,000−1.8% | Reduced |
| Balyasny Asset Management LLC | 438,634 | $58.0M | 0.12% | +348,803+388.3% | Added |
| Punch Card Management L.P. | 415,004 | $54.9M | 17.01% | 00.0% | Unchanged |
| Public Sector Pension Investment Board | 411,930 | $54.4M | 0.20% | −33,900−7.6% | Reduced |
| DekaBank Deutsche Girozentrale | 408,010 | $53.7M | 0.09% | 00.0% | Unchanged |
| Harvest Fund Management Co., Ltd | 396,109 | $52.3M | 2.22% | −8,620−2.1% | Reduced |
| Squarepoint Ops LLC | 390,126 | $51.6M | 0.11% | +44,529+12.9% | Added |
| Carrhae Capital LLP | 386,924 | $51.1M | 4.86% | −116,671−23.2% | Reduced |
| Mackenzie Financial Corp | 371,390 | $49.1M | 0.06% | +10,236+2.8% | Added |
| Oversea-Chinese Banking CORP Ltd | 368,564 | $48.7M | 1.26% | +54,418+17.3% | Added |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 367,068 | $48.3M | 0.13% | +31,035+9.2% | Added |
| Capital International Inc | 357,166 | $47.2M | 0.38% | +5,833+1.7% | Added |
| Mirae Asset Global Investments Co., Ltd. | 349,383 | $46.2M | 0.14% | +1,058+0.3% | Added |
| TB Alternative Assets Ltd. | 345,888 | $45.7M | 6.84% | +133,000+62.5% | Added |
| Victory Capital Management Inc | 326,330 | $43.1M | 0.03% | −983−0.3% | Reduced |
| California State Teachers Retirement System | 325,374 | $43.0M | 0.04% | +616+0.2% | Added |
| M&G Plc | 325,605 | $43.0M | 0.23% | −10,683−3.2% | Reduced |
| APG Asset Management N.V. | 377,528 | $42.5M | 0.12% | −31,800−7.8% | Reduced |
| Todd Asset Management LLC | 318,435 | $42.1M | 0.85% | +59,387+22.9% | Added |
| Causeway Capital Management LLC | 309,641 | $40.9M | 0.54% | +309,641 | New |
| SG Americas Securities, LLC | 301,450 | $39.8M | 0.15% | +201,998+203.1% | Added |
| RV Capital GmbH | 301,232 | $39.8M | 7.29% | −34,337−10.2% | Reduced |
| Connor, Clark & Lunn Investment Management Ltd. | 299,005 | $39.5M | 0.12% | +38,876+14.9% | Added |
| AnglePoint Asset Management Ltd | 294,649 | $38.9M | 35.04% | +2,775+1.0% | Added |
| E Fund Management (Hong Kong) Co., Ltd. | 288,652 | $38.2M | 23.22% | +6,018+2.1% | Added |
| British Columbia Investment Management Corp | 276,500 | $36.5M | 0.21% | +5,800+2.1% | Added |
| Handelsbanken Fonder AB | 262,178 | $34.7M | 0.11% | −817−0.3% | Reduced |
| SEI Investments Co | 260,413 | $34.4M | 0.04% | +50,261+23.9% | Added |
| Bank of Montreal | 254,979 | $33.7M | 0.01% | +29,446+13.1% | Added |
| Manufacturers Life Insurance Company, The | 245,340 | $32.4M | 0.03% | −6,204−2.5% | Reduced |
| Marex Group plc | 232,973 | $30.8M | 0.38% | +114,323+96.4% | Added |
| Quadrature Capital Ltd | 228,754 | $30.2M | 0.36% | +228,754 | New |
| Public Employees Retirement System of Ohio | 223,495 | $29.5M | 0.09% | +54,360+32.1% | Added |
| Exchange Traded Concepts, LLC | 220,553 | $29.2M | 0.28% | +1,349+0.6% | Added |
| Keywise Capital Management (HK) Ltd | 219,850 | $29.1M | 2.33% | −1,105,200−83.4% | Reduced |
| Teachers Retirement System of the State of Kentucky | 213,860 | $28.3M | 0.21% | +39,700+22.8% | Added |
| Monolith Management Ltd | 209,393 | $27.7M | 12.20% | +16,385+8.5% | Added |
| Panagora Asset Management Inc | 205,965 | $27.2M | 0.11% | +102,830+99.7% | Added |
| NEOS Investment Management LLC | 204,356 | $27.0M | 0.20% | +83,963+69.7% | Added |
| Centiva Capital, LP | 203,192 | $26.9M | 2.50% | +203,192 | New |
| Ardmore Road Asset Management LP | 200,000 | $26.4M | 1.71% | +200,000 | New |
| AXA Investment Managers S.A. | 198,948 | $26.3M | 0.07% | +198,948 | New |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 198,180 | $26.2M | 0.06% | +9,568+5.1% | Added |
| KBC Group NV | 197,852 | $26.1M | 0.06% | +9,975+5.3% | Added |
| WCM Investment Management, LLC | 193,785 | $25.3M | 0.05% | −86,100−30.8% | Reduced |
| Resona Asset Management Co.,Ltd. | 187,947 | $24.8M | 0.12% | −6,326−3.3% | Reduced |
| Tiger Pacific Capital LP | 187,323 | $24.8M | 6.26% | +187,323 | New |
| Parus Finance (UK) Ltd | 183,476 | $24.3M | 6.37% | +6,620+3.7% | Added |
| BIT Capital GmbH | 183,423 | $24.2M | 1.11% | −267,160−59.3% | Reduced |
| Voya Investment Management LLC | 183,214 | $24.2M | 0.02% | +33,574+22.4% | Added |
| Polymer Capital Management (HK) LTD | 182,184 | $24.1M | 3.35% | +17,684+10.8% | Added |
| Credit Agricole S A | 180,642 | $23.9M | 0.08% | +180,642 | New |
| AI-Squared Management Ltd | 180,508 | $23.9M | 24.84% | +143,608+389.2% | Added |
| National Pension Service | 179,463 | $23.7M | 0.02% | +6,395+3.7% | Added |
| BI Asset Management Fondsmaeglerselskab A/S | 179,175 | $23.7M | 0.21% | +164,414+1,113.8% | Added |
| Candriam Luxembourg S.C.A. | 175,000 | $23.1M | 0.12% | +107,200+158.1% | Added |
| KLP Kapitalforvaltning AS | 168,200 | $22.2M | 0.09% | +3,900+2.4% | Added |
| Renaissance Technologies LLC | 164,400 | $21.7M | 0.03% | −577,600−77.8% | Reduced |
| Millennium Management LLC | 164,254 | $21.7M | 0.02% | +124,798+316.3% | Added |
| Global X Japan Co., Ltd. | 162,251 | $21.4M | 1.86% | −11,852−6.8% | Reduced |
| Wim Investment Management Ltd | 157,968 | $20.9M | 5.31% | 00.0% | Unchanged |
| Guggenheim Capital LLC | 154,896 | $20.5M | 0.15% | −3,817−2.4% | Reduced |
| Headwater Capital Co Ltd | 150,000 | $19.8M | 4.85% | −50,000−25.0% | Reduced |
| Yunqi Capital Ltd | 144,800 | $19.1M | 11.20% | +39,800+37.9% | Added |
| CIBC Asset Management Inc | 142,111 | $18.8M | 0.05% | −387−0.3% | Reduced |
| Walleye Capital LLC | 139,076 | $18.4M | 0.15% | +126,880+1,040.3% | Added |
| Orland Properties Ltd | 138,835 | $18.3M | 3.92% | 00.0% | Unchanged |
| Ossiam | 134,000 | $17.7M | 0.23% | 00.0% | Unchanged |
| Tudor Investment Corp Et Al | 131,772 | $17.4M | 0.11% | +131,772 | New |
| Lansforsakringar Fondforvaltning AB (publ) | 130,120 | $17.2M | 0.09% | +1,768+1.4% | Added |
| Wells Fargo & Company | 127,886 | $16.9M | 0.00% | −334−0.3% | Reduced |
| Panview Capital Ltd | 125,000 | $16.5M | 7.03% | −106,700−46.1% | Reduced |
| Asset Management One Co.,Ltd. | 124,908 | $16.5M | 0.05% | +4,766+4.0% | Added |
| Nomura Asset Management Co Ltd | 122,853 | $16.2M | 0.04% | +7,678+6.7% | Added |
| Hidden Lake Asset Management LP | 120,847 | $16.0M | 6.38% | +120,847 | New |
| LMR Partners LLP | 117,082 | $15.5M | 0.20% | +74,609+175.7% | Added |
| Blue Creek Capital Management Ltd | 116,721 | $15.4M | 18.98% | 00.0% | Unchanged |
| Rakuten Investment Management, Inc. | 138,543 | $14.9M | 0.06% | +138,543 | New |
| Himension Fund | 110,953 | $14.7M | 0.90% | +6,998+6.7% | Added |
| Nan Fung Trinity (HK) Ltd | 108,100 | $14.3M | 1.43% | 00.0% | Unchanged |
| Danske Bank A/S | 107,712 | $14.2M | 0.04% | +97,600+965.2% | Added |
| Nomura Holdings Inc | 101,971 | $13.5M | 0.06% | −71,666−41.3% | Reduced |
| Antipodes Partners Ltd | 101,901 | $13.5M | 0.30% | −14,922−12.8% | Reduced |
| Neuberger Berman Group LLC | 101,897 | $13.5M | 0.01% | −14,842−12.7% | Reduced |
| Toroso Investments, LLC | 100,474 | $13.3M | 0.06% | +11,941+13.5% | Added |
| Verition Fund Management LLC | 100,311 | $13.3M | 0.08% | −18,284−15.4% | Reduced |
| 3G Capital Partners LP | 100,000 | $13.2M | 3.13% | −325,000−76.5% | Reduced |
| Nissay Asset Management Corp | 99,606 | $13.2M | 0.07% | +2,932+3.0% | Added |
| TD Asset Management Inc | 97,816 | $12.9M | 0.01% | −11,610−10.6% | Reduced |
| Ci Investments Inc. | 94,767 | $12.5M | 0.05% | −431−0.5% | Reduced |
| Rafferty Asset Management, LLC | 94,561 | $12.5M | 0.04% | −21,817−18.7% | Reduced |
| Profund Advisors LLC | 92,506 | $12.2M | 0.40% | +5,824+6.7% | Added |
| Owl Creek Asset Management, L.P. | 89,732 | $11.9M | 1.35% | +89,732 | New |
| Taikang Asset Management (Hong Kong) Co Ltd | 89,306 | $11.8M | 1.32% | −135,390−60.3% | Reduced |
| Platinum Investment Management Ltd | 88,509 | $11.7M | 0.76% | 00.0% | Unchanged |