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, Q4 2025
Institutional positions in PDD Holdings Inc. as of Dec 31, 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
- 574
- +29 vs. Q3 2025
- Shares held
- 438.1M
- +32.3M (+8.0%) vs. Q3 2025
- Total value
- $49.6B
- −$3.95B (−7.4%) vs. Q3 2025
- New holders
- 101
- 230 more added
- Sold out
- 72
- 173 more reduced
14 institutions that held it in Q3 2025 haven't filed for Q4 2025 yet. Not filing isn't selling, so they aren't counted as sold out or in the changes above.
Compare with Q3 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 | 559 | $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, Q4 2025
Shares, value and share of portfolio for each institution holding PDD Holdings Inc.; share changes are against Q3 2025.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| BlackRock, Inc. | 39,152,152 | $4.44B | 0.08% | +3,308,901+9.2% | Added |
| Vanguard Group Inc | 32,810,630 | $3.72B | 0.05% | +425,908+1.3% | Added |
| Baillie Gifford & Co | 31,032,323 | $3.52B | 2.92% | −766,680−2.4% | Reduced |
| Invesco Ltd. | 21,165,375 | $2.40B | 0.23% | +15,887,349+301.0% | Added |
| FMR LLC | 14,597,758 | $1.66B | 0.08% | −2,721,955−15.7% | Reduced |
| State Street Corp | 12,257,360 | $1.39B | 0.05% | +153,878+1.3% | Added |
| H&H International Investment, LLCSuperinvestorH&H International Investment | 11,536,694 | $1.31B | 7.48% | +2,962,500+34.6% | Added |
| HHLR Advisors, Ltd.SuperinvestorHHLR Advisors (Hillhouse) | 10,721,400 | $1.22B | 39.17% | +2,128,800+24.8% | Added |
| SC China Holding Ltd | 11,348,426 | $1.20B | 70.42% | 00.0% | Unchanged |
| Norges Bank | 9,396,292 | $1.07B | 0.11% | +9,396,292 | New |
| SC US (TTGP), Ltd. | 8,841,576 | $1.00B | 7.16% | 00.0% | Unchanged |
| Goldman Sachs Group Inc | 8,826,751 | $1.00B | 0.14% | −1,224,528−12.2% | Reduced |
| Sanders Capital, LLC | 8,112,327 | $919.9M | 1.06% | −20,963−0.3% | Reduced |
| First Beijing Investment Ltd | 6,782,955 | $769.1M | 30.33% | +614,234+10.0% | Added |
| Assenagon Asset Management S.A. | 6,728,909 | $763.0M | 1.15% | +5,070,827+305.8% | Added |
| Geode Capital Management, LLC | 6,759,780 | $761.7M | 0.05% | +359,921+5.6% | Added |
| FIL Ltd | 6,516,042 | $738.9M | 0.55% | −696,268−9.7% | Reduced |
| Krane Funds Advisors LLC | 6,397,960 | $725.5M | 23.54% | +258,888+4.2% | Added |
| Morgan Stanley | 5,948,846 | $674.5M | 0.04% | −1,147,316−16.2% | Reduced |
| BNP Paribas Arbitrage, SA | 5,146,573 | $583.6M | 0.37% | +103,810+2.1% | Added |
| JPMorgan Chase & Co | 5,068,738 | $574.7M | 0.04% | −513,089−9.2% | Reduced |
| Capital International Investors | 4,698,655 | $532.8M | 0.08% | +807,336+20.7% | Added |
| HSBC Holdings PLC | 4,669,352 | $531.1M | 0.30% | −3,738,306−44.5% | Reduced |
| Temasek Holdings (Private) Ltd | 4,682,894 | $531.0M | 1.71% | +334,647+7.7% | Added |
| Himalaya Capital Management LLCSuperinvestorHimalaya Capital | 4,608,000 | $522.5M | 14.64% | 00.0% | Unchanged |
| Marshall Wace, LLP | 4,512,664 | $511.7M | 0.49% | +2,158,500+91.7% | Added |
| Dodge & Cox | 4,439,800 | $503.4M | 0.27% | +4,439,800 | New |
| UBS Group AG | 4,148,190 | $470.4M | 0.09% | +1,682,746+68.3% | Added |
| Legal & General Group Plc | 4,147,464 | $470.3M | 0.10% | −378,036−8.4% | Reduced |
| Schroder Investment Management Group | 4,137,857 | $469.2M | 0.36% | +2,757,844+199.8% | Added |
| Greenwoods Asset Management Hong Kong Ltd.SuperinvestorGreenwoods Asset Management | 3,968,270 | $450.0M | 11.12% | +611,306+18.2% | Added |
| NetEase, Inc. | 3,555,488 | $403.2M | 93.24% | 00.0% | Unchanged |
| Dimensional Fund Advisors LP | 3,484,692 | $395.1M | 0.08% | +57,813+1.7% | Added |
| Price T Rowe Associates Inc | 3,262,954 | $370.0M | 0.04% | −2,107,418−39.2% | Reduced |
| SG Americas Securities, LLC | 3,238,126 | $367.2M | 0.48% | +2,936,676+974.2% | Added |
| Northern Trust Corp | 3,189,599 | $361.7M | 0.05% | −23,743−0.7% | Reduced |
| Mitsubishi UFJ Trust & Banking Corp | 3,167,810 | $359.2M | 0.85% | +644,544+25.5% | Added |
| Aspex Management (HK) Ltd | 3,109,525 | $352.6M | 7.16% | −62,808−2.0% | Reduced |
| Bank of America Corp | 3,057,744 | $346.7M | 0.03% | +320,102+11.7% | Added |
| Deutsche Bank AG | 2,776,077 | $314.8M | 0.10% | +72,731+2.7% | Added |
| Barclays PLC | 2,660,115 | $301.6M | 0.12% | +974,416+57.8% | Added |
| Triata Capital Ltd | 2,557,700 | $290.0M | 35.15% | +13,222+0.5% | Added |
| Perseverance Asset Management International | 1,962,092 | $222.5M | 32.60% | +628,857+47.2% | Added |
| Dragoneer Investment Group, LLC | 1,835,428 | $208.1M | 4.54% | 00.0% | Unchanged |
| Robeco Institutional Asset Management B.V. | 1,785,936 | $202.5M | 0.29% | +173,068+10.7% | Added |
| Appaloosa LPSuperinvestorAppaloosa | 1,775,000 | $201.3M | 2.94% | −25,000−1.4% | Reduced |
| Prudential PLC | 1,751,095 | $198.6M | 1.59% | +194,192+12.5% | Added |
| IDG China Venture Capital Fund IV Associates L.P. | 1,749,029 | $198.3M | 84.94% | −248,967−12.5% | Reduced |
| Nuveen, LLC | 1,687,403 | $191.3M | 0.05% | −63,500−3.6% | Reduced |
| Sumitomo Mitsui Trust Holdings, Inc. | 1,682,194 | $190.7M | 0.11% | −37,341−2.2% | Reduced |
| Capital Today Evergreen Fund, L.P. | 1,634,077 | $185.3M | 85.65% | −859,509−34.5% | Reduced |
| Swiss National Bank | 1,552,644 | $176.1M | 0.10% | −47,800−3.0% | Reduced |
| Citigroup Inc | 1,543,816 | $175.1M | 0.12% | −619,567−28.6% | Reduced |
| Bank of New York Mellon Corp | 1,488,074 | $168.7M | 0.03% | −250,404−14.4% | Reduced |
| National Bank of Canada | 1,428,593 | $162.0M | 0.17% | +822,903+135.9% | Added |
| Acadian Asset Management LLC | 1,411,514 | $160.0M | 0.26% | +306,443+27.7% | Added |
| Boundless Plain Holdings Ltd | 1,294,753 | $146.8M | 46.82% | +1,294,753 | New |
| Massachusetts Financial Services Co | 1,259,912 | $142.9M | 0.05% | +15,341+1.2% | Added |
| Charles Schwab Investment Management Inc | 1,249,313 | $141.7M | 0.02% | +56,108+4.7% | Added |
| Pictet Asset Management Holding SA | 1,231,832 | $139.7M | 0.14% | −31,512−2.5% | Reduced |
| American Century Companies Inc | 1,222,648 | $138.6M | 0.07% | +270,346+28.4% | Added |
| California Public Employees Retirement System | 1,195,822 | $135.6M | 0.08% | +1,593+0.1% | Added |
| Orbis Allan Gray Ltd | 1,168,327 | $132.5M | 0.56% | −5,774,012−83.2% | Reduced |
| First Trust Advisors LP | 1,158,932 | $131.4M | 0.10% | +399,195+52.5% | Added |
| Russell Investments Group, Ltd. | 1,074,635 | $122.0M | 0.13% | +248,751+30.1% | Added |
| ProShare Advisors LLC | 1,056,004 | $119.7M | 0.21% | +309,939+41.5% | Added |
| Nomura Asset Management International Inc. | 1,049,894 | $119.0M | 0.18% | +1,049,894 | New |
| GF Fund Management Co. Ltd. | 1,019,069 | $115.6M | 1.98% | +226,027+28.5% | Added |
| SRS Investment Management, LLC | 1,016,859 | $115.3M | 1.21% | −1,637,535−61.7% | Reduced |
| Standard Life Aberdeen plc | 1,013,878 | $115.0M | 0.18% | −214,315−17.4% | Reduced |
| IvyRock Asset Management (HK) Ltd | 991,509 | $112.4M | 59.30% | −43,740−4.2% | Reduced |
| Alliancebernstein L.P. | 927,794 | $105.2M | 0.03% | −65,896−6.6% | Reduced |
| Walleye Trading LLC | 885,812 | $100.4M | 1.62% | +885,812 | New |
| Mitsubishi UFJ Kokusai Asset Management Co., Ltd. | 860,912 | $99.7M | 0.07% | +42,973+5.3% | Added |
| Green Court Capital Management Ltd | 856,958 | $99.5M | 38.25% | −203,842−19.2% | Reduced |
| Evergreen Quality Fund GP, Ltd. | 863,016 | $97.9M | 1.93% | +58,962+7.3% | Added |
| Anatole Investment Management Ltd | 837,433 | $95.0M | 15.83% | +837,433 | New |
| Wellington Management Group LLP | 810,863 | $91.9M | 0.02% | −83,688−9.4% | Reduced |
| Franklin Resources Inc | 802,538 | $91.0M | 0.02% | +121,206+17.8% | Added |
| Lazard Asset Management LLC | 784,898 | $89.0M | 0.15% | +66,942+9.3% | Added |
| Cederberg Capital Ltd | 755,900 | $85.7M | 27.83% | 00.0% | Unchanged |
| LMR Partners LLP | 733,647 | $83.2M | 0.80% | +616,565+526.6% | Added |
| DekaBank Deutsche Girozentrale | 408,010 | $82.8M | 0.15% | 00.0% | Unchanged |
| Healthcare of Ontario Pension Plan Trust Fund | 710,731 | $80.6M | 0.14% | +189,755+36.4% | Added |
| Royal London Asset Management Ltd | 696,172 | $78.9M | 0.17% | +7,800+1.1% | Added |
| Allianz Asset Management GmbH | 691,141 | $78.4M | 0.09% | +148,342+27.3% | Added |
| Royal Bank of Canada | 672,008 | $76.2M | 0.01% | −213,784−24.1% | Reduced |
| Susquehanna International Group, LLP | 666,594 | $75.6M | 0.10% | −2,572,633−79.4% | Reduced |
| Barings LLC | 654,567 | $74.2M | 1.37% | +115,567+21.4% | Added |
| Aviva PLC | 641,018 | $72.7M | 0.12% | −11,431−1.8% | Reduced |
| Pinpoint Asset Management (Singapore) Pte. Ltd. | 625,807 | $71.0M | 14.79% | +6,694+1.1% | Added |
| True Light Capital Pte. Ltd. | 602,262 | $68.3M | 30.82% | +602,262 | New |
| Brilliance Asset Management Ltd | 595,174 | $67.5M | 26.49% | +595,174 | New |
| Polar Capital Holdings Plc | 577,391 | $65.5M | 0.30% | +21,493+3.9% | Added |
| Fisher Asset Management, LLC | 573,184 | $65.0M | 0.02% | −2,760−0.5% | Reduced |
| Allspring Global Investments Holdings, LLC | 556,693 | $64.4M | 0.10% | +545,088+4,697.0% | Added |
| Korea Investment CORP | 554,687 | $62.9M | 0.12% | +8,800+1.6% | Added |
| Great West Life Assurance Co | 548,649 | $62.2M | 0.11% | −360,024−39.6% | Reduced |
| Man Group plc | 533,660 | $60.5M | 0.12% | +518,879+3,510.4% | Added |
| Mirae Asset Global ETFs Holdings Ltd. | 526,998 | $59.8M | 0.09% | −35,417−6.3% | Reduced |