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
- +28 vs. Q3 2025
- Shares held
- 438.1M
- +32.2M (+7.9%) vs. Q3 2025
- Total value
- $49.6B
- −$3.97B (−7.4%) vs. Q3 2025
- New holders
- 100
- 230 more added
- Sold out
- 72
- 174 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 | 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, 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 |
|---|---|---|---|---|---|
| Itau Unibanco Holding S.A. | 136,375 | $15.5M | 0.38% | +136,375 | New |
| Lansforsakringar Fondforvaltning AB (publ) | 137,330 | $15.6M | 0.08% | +7,210+5.5% | Added |
| Orland Properties Ltd | 138,835 | $15.7M | 2.95% | 00.0% | Unchanged |
| Candriam Luxembourg S.C.A. | 139,800 | $15.9M | 0.08% | −35,200−20.1% | Reduced |
| MY.Alpha Management HK Advisors Ltd | 145,263 | $16.5M | 8.84% | +145,263 | New |
| CIBC Asset Management Inc | 150,924 | $17.1M | 0.04% | +8,813+6.2% | Added |
| Tudor Investment Corp Et Al | 151,348 | $17.2M | 0.09% | +19,576+14.9% | Added |
| Guggenheim Capital LLC | 159,549 | $18.1M | 0.13% | +4,653+3.0% | Added |
| Tairen Capital Ltd | 177,200 | $20.1M | 2.09% | +169,200+2,115.0% | Added |
| Resona Asset Management Co.,Ltd. | 179,539 | $20.4M | 0.10% | −8,408−4.5% | Reduced |
| Jupiter Asset Management Ltd | 180,704 | $20.5M | 0.16% | +158,704+721.4% | Added |
| KLP Kapitalforvaltning AS | 181,400 | $20.6M | 0.08% | +13,200+7.8% | Added |
| Panview Capital Ltd | 181,680 | $20.6M | 7.40% | +56,680+45.3% | Added |
| Yunqi Capital Ltd | 185,100 | $21.0M | 16.74% | +40,300+27.8% | Added |
| Parallax Volatility Advisers, L.P. | 187,904 | $21.3M | 0.66% | +187,904 | New |
| National Pension Service | 196,838 | $22.3M | 0.02% | +17,375+9.7% | Added |
| Public Employees Retirement System of Ohio | 197,711 | $22.4M | 0.07% | −25,784−11.5% | Reduced |
| Marex Group plc | 199,627 | $22.6M | 0.25% | −33,346−14.3% | Reduced |
| Teachers Retirement System of the State of Kentucky | 210,660 | $23.9M | 0.18% | −3,200−1.5% | Reduced |
| Jennison Associates LLC | 213,348 | $24.2M | 0.01% | +213,348 | New |
| Connor, Clark & Lunn Investment Management Ltd. | 216,765 | $24.6M | 0.06% | −82,240−27.5% | Reduced |
| Cable Car Capital LLC | 220,000 | $24.9M | 1.55% | +220,000 | New |
| BI Asset Management Fondsmaeglerselskab A/S | 221,109 | $25.1M | 0.22% | +41,934+23.4% | Added |
| Global X Japan Co., Ltd. | 222,147 | $25.2M | 1.92% | +59,896+36.9% | Added |
| Carrhae Capital LLP | 222,654 | $25.2M | 1.68% | −164,270−42.5% | Reduced |
| Voya Investment Management LLC | 225,227 | $25.5M | 0.03% | +42,013+22.9% | Added |
| WCM Investment Management, LLC | 228,515 | $26.0M | 0.05% | +34,730+17.9% | Added |
| KBC Group NV | 239,124 | $27.1M | 0.06% | +41,272+20.9% | Added |
| Credit Agricole S A | 239,796 | $27.2M | 0.07% | +59,154+32.7% | Added |
| Exchange Traded Concepts, LLC | 242,722 | $27.5M | 0.23% | +22,169+10.1% | Added |
| Ameriprise Financial Inc | 253,111 | $28.7M | 0.01% | −419,840−62.4% | Reduced |
| Headwater Capital Co Ltd | 260,000 | $29.5M | 6.13% | +110,000+73.3% | Added |
| E Fund Management (Hong Kong) Co., Ltd. | 292,834 | $30.3M | 12.66% | +4,182+1.4% | Added |
| Renaissance Technologies LLC | 273,900 | $31.1M | 0.05% | +109,500+66.6% | Added |
| British Columbia Investment Management Corp | 275,000 | $31.2M | 0.16% | −1,500−0.5% | Reduced |
| NEOS Investment Management LLC | 279,363 | $31.7M | 0.18% | +75,007+36.7% | Added |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 286,726 | $32.5M | 0.07% | +88,546+44.7% | Added |
| Handelsbanken Fonder AB | 289,419 | $32.8M | 0.10% | +27,241+10.4% | Added |
| Franchise GP Ltd | 302,460 | $34.3M | 39.93% | +302,460 | New |
| Arrowstreet Capital, Limited Partnership | 305,410 | $34.6M | 0.02% | −1,182,356−79.5% | Reduced |
| Alpine Investment Management Ltd | 306,198 | $34.7M | 15.60% | +306,198 | New |
| Maple Rock Capital Partners Inc. | 306,641 | $34.8M | 1.15% | −212,300−40.9% | Reduced |
| California State Teachers Retirement System | 309,209 | $35.1M | 0.04% | −16,165−5.0% | Reduced |
| Todd Asset Management LLC | 312,283 | $35.4M | 0.69% | −6,152−1.9% | Reduced |
| Citadel Advisors LLC | 315,262 | $35.7M | 0.02% | −1,028,796−76.5% | Reduced |
| APG Asset Management N.V. | 380,428 | $36.7M | 0.10% | +2,900+0.8% | Added |
| M&G Plc | 325,505 | $36.8M | 0.19% | −1000.0% | Reduced |
| Victory Capital Management Inc | 333,281 | $37.8M | 0.02% | +6,951+2.1% | Added |
| Balyasny Asset Management LLC | 335,433 | $38.0M | 0.07% | −103,201−23.5% | Reduced |
| TB Alternative Assets Ltd. | 340,228 | $38.6M | 6.32% | −5,660−1.6% | Reduced |
| IMC-Chicago, LLC | 347,618 | $39.4M | 0.69% | +347,618 | New |
| Bank of Montreal | 350,801 | $39.8M | 0.02% | +95,822+37.6% | Added |
| Mirae Asset Global Investments Co., Ltd. | 364,337 | $41.3M | 0.11% | +14,954+4.3% | Added |
| Matthews International Capital Management LLC | 370,640 | $42.0M | 12.76% | −123,162−24.9% | Reduced |
| Causeway Capital Management LLC | 371,241 | $42.1M | 0.58% | +61,600+19.9% | Added |
| USS Investment Management Ltd | 375,076 | $42.5M | 0.21% | −96,978−20.5% | Reduced |
| Polymer Capital Management (HK) LTD | 378,574 | $42.9M | 6.68% | +196,390+107.8% | Added |
| Millennium Management LLC | 382,550 | $43.4M | 0.03% | +218,296+132.9% | Added |
| Nomura Holdings Inc | 384,271 | $43.6M | 0.12% | +282,300+276.8% | Added |
| Centiva Capital, LP | 400,000 | $45.4M | 2.74% | +196,808+96.9% | Added |
| Oversea-Chinese Banking CORP Ltd | 400,127 | $45.4M | 1.25% | +31,563+8.6% | Added |
| Capital International Inc | 409,537 | $46.4M | 0.37% | +52,371+14.7% | Added |
| Public Sector Pension Investment Board | 414,330 | $47.0M | 0.16% | +2,400+0.6% | Added |
| Punch Card Management L.P. | 415,004 | $47.1M | 15.64% | 00.0% | Unchanged |
| Harvest Fund Management Co., Ltd | 422,263 | $47.9M | 1.80% | +26,154+6.6% | Added |
| Mackenzie Financial Corp | 421,758 | $47.9M | 0.06% | +50,368+13.6% | Added |
| PEAK6 LLC | 435,042 | $49.3M | 1.35% | +409,515+1,604.2% | Added |
| Cat Rock Capital Management LP | 445,228 | $50.5M | 7.24% | 00.0% | Unchanged |
| SEI Investments Co | 449,686 | $51.0M | 0.05% | +189,273+72.7% | Added |
| Manufacturers Life Insurance Company, The | 484,402 | $55.0M | 0.05% | +239,062+97.4% | Added |
| Kora Management LP | 490,650 | $55.6M | 7.41% | −113,600−18.8% | Reduced |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 499,516 | $56.6M | 0.07% | +132,448+36.1% | Added |
| Charles-Lim Capital Ltd | 500,000 | $56.7M | 15.38% | −100,000−16.7% | Reduced |
| AnglePoint Asset Management Ltd | 513,112 | $58.2M | 43.14% | +218,463+74.1% | Added |
| Mirae Asset Global ETFs Holdings Ltd. | 526,998 | $59.8M | 0.09% | −35,417−6.3% | Reduced |
| Man Group plc | 533,660 | $60.5M | 0.12% | +518,879+3,510.4% | Added |
| Great West Life Assurance Co | 548,649 | $62.2M | 0.11% | −360,024−39.6% | Reduced |
| Korea Investment CORP | 554,687 | $62.9M | 0.12% | +8,800+1.6% | Added |
| Allspring Global Investments Holdings, LLC | 556,693 | $64.4M | 0.10% | +545,088+4,697.0% | Added |
| Fisher Asset Management, LLC | 573,184 | $65.0M | 0.02% | −2,760−0.5% | Reduced |
| Polar Capital Holdings Plc | 577,391 | $65.5M | 0.30% | +21,493+3.9% | Added |
| Brilliance Asset Management Ltd | 595,174 | $67.5M | 26.49% | +595,174 | New |
| True Light Capital Pte. Ltd. | 602,262 | $68.3M | 30.82% | +602,262 | New |
| Pinpoint Asset Management (Singapore) Pte. Ltd. | 625,807 | $71.0M | 14.79% | +6,694+1.1% | Added |
| Aviva PLC | 641,018 | $72.7M | 0.12% | −11,431−1.8% | Reduced |
| Barings LLC | 654,567 | $74.2M | 1.37% | +115,567+21.4% | Added |
| Susquehanna International Group, LLP | 666,594 | $75.6M | 0.10% | −2,572,633−79.4% | Reduced |
| Royal Bank of Canada | 672,008 | $76.2M | 0.01% | −213,784−24.1% | Reduced |
| Allianz Asset Management GmbH | 691,141 | $78.4M | 0.09% | +148,342+27.3% | Added |
| Royal London Asset Management Ltd | 696,172 | $78.9M | 0.17% | +7,800+1.1% | Added |
| Healthcare of Ontario Pension Plan Trust Fund | 710,731 | $80.6M | 0.14% | +189,755+36.4% | Added |
| DekaBank Deutsche Girozentrale | 408,010 | $82.8M | 0.15% | 00.0% | Unchanged |
| LMR Partners LLP | 733,647 | $83.2M | 0.80% | +616,565+526.6% | Added |
| Cederberg Capital Ltd | 755,900 | $85.7M | 27.83% | 00.0% | Unchanged |
| Lazard Asset Management LLC | 784,898 | $89.0M | 0.15% | +66,942+9.3% | Added |
| Franklin Resources Inc | 802,538 | $91.0M | 0.02% | +121,206+17.8% | Added |
| Wellington Management Group LLP | 810,863 | $91.9M | 0.02% | −83,688−9.4% | Reduced |
| Anatole Investment Management Ltd | 837,433 | $95.0M | 15.83% | +837,433 | New |
| Evergreen Quality Fund GP, Ltd. | 863,016 | $97.9M | 1.93% | +58,962+7.3% | Added |
| Green Court Capital Management Ltd | 856,958 | $99.5M | 38.25% | −203,842−19.2% | Reduced |