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 |
|---|---|---|---|---|---|
| Mitsubishi UFJ Kokusai Asset Management Co., Ltd. | 860,912 | $99.7M | 0.07% | +42,973+5.3% | Added |
| Walleye Trading LLC | 885,812 | $100.4M | 1.62% | +885,812 | New |
| Alliancebernstein L.P. | 927,794 | $105.2M | 0.03% | −65,896−6.6% | Reduced |
| IvyRock Asset Management (HK) Ltd | 991,509 | $112.4M | 59.30% | −43,740−4.2% | Reduced |
| Standard Life Aberdeen plc | 1,013,878 | $115.0M | 0.18% | −214,315−17.4% | Reduced |
| SRS Investment Management, LLC | 1,016,859 | $115.3M | 1.21% | −1,637,535−61.7% | Reduced |
| GF Fund Management Co. Ltd. | 1,019,069 | $115.6M | 1.98% | +226,027+28.5% | Added |
| Nomura Asset Management International Inc. | 1,049,894 | $119.0M | 0.18% | +1,049,894 | New |
| ProShare Advisors LLC | 1,056,004 | $119.7M | 0.21% | +309,939+41.5% | Added |
| Russell Investments Group, Ltd. | 1,074,635 | $122.0M | 0.13% | +248,751+30.1% | Added |
| First Trust Advisors LP | 1,158,932 | $131.4M | 0.10% | +399,195+52.5% | Added |
| Orbis Allan Gray Ltd | 1,168,327 | $132.5M | 0.56% | −5,774,012−83.2% | Reduced |
| California Public Employees Retirement System | 1,195,822 | $135.6M | 0.08% | +1,593+0.1% | Added |
| American Century Companies Inc | 1,222,648 | $138.6M | 0.07% | +270,346+28.4% | Added |
| Pictet Asset Management Holding SA | 1,231,832 | $139.7M | 0.14% | −31,512−2.5% | Reduced |
| Charles Schwab Investment Management Inc | 1,249,313 | $141.7M | 0.02% | +56,108+4.7% | Added |
| Massachusetts Financial Services Co | 1,259,912 | $142.9M | 0.05% | +15,341+1.2% | Added |
| Boundless Plain Holdings Ltd | 1,294,753 | $146.8M | 46.82% | +1,294,753 | New |
| Acadian Asset Management LLC | 1,411,514 | $160.0M | 0.26% | +306,443+27.7% | Added |
| National Bank of Canada | 1,428,593 | $162.0M | 0.17% | +822,903+135.9% | Added |
| Bank of New York Mellon Corp | 1,488,074 | $168.7M | 0.03% | −250,404−14.4% | Reduced |
| Citigroup Inc | 1,543,816 | $175.1M | 0.12% | −619,567−28.6% | Reduced |
| Swiss National Bank | 1,552,644 | $176.1M | 0.10% | −47,800−3.0% | Reduced |
| Capital Today Evergreen Fund, L.P. | 1,634,077 | $185.3M | 85.65% | −859,509−34.5% | Reduced |
| Sumitomo Mitsui Trust Holdings, Inc. | 1,682,194 | $190.7M | 0.11% | −37,341−2.2% | Reduced |
| Nuveen, LLC | 1,687,403 | $191.3M | 0.05% | −63,500−3.6% | Reduced |
| IDG China Venture Capital Fund IV Associates L.P. | 1,749,029 | $198.3M | 84.94% | −248,967−12.5% | Reduced |
| Prudential PLC | 1,751,095 | $198.6M | 1.59% | +194,192+12.5% | Added |
| Appaloosa LPSuperinvestorAppaloosa | 1,775,000 | $201.3M | 2.94% | −25,000−1.4% | Reduced |
| Robeco Institutional Asset Management B.V. | 1,785,936 | $202.5M | 0.29% | +173,068+10.7% | Added |
| Dragoneer Investment Group, LLC | 1,835,428 | $208.1M | 4.54% | 00.0% | Unchanged |
| Perseverance Asset Management International | 1,962,092 | $222.5M | 32.60% | +628,857+47.2% | Added |
| Triata Capital Ltd | 2,557,700 | $290.0M | 35.15% | +13,222+0.5% | Added |
| Barclays PLC | 2,660,115 | $301.6M | 0.12% | +974,416+57.8% | Added |
| Deutsche Bank AG | 2,776,077 | $314.8M | 0.10% | +72,731+2.7% | Added |
| Bank of America Corp | 3,057,744 | $346.7M | 0.03% | +320,102+11.7% | Added |
| Aspex Management (HK) Ltd | 3,109,525 | $352.6M | 7.16% | −62,808−2.0% | Reduced |
| Mitsubishi UFJ Trust & Banking Corp | 3,167,810 | $359.2M | 0.85% | +644,544+25.5% | Added |
| Northern Trust Corp | 3,189,599 | $361.7M | 0.05% | −23,743−0.7% | Reduced |
| SG Americas Securities, LLC | 3,238,126 | $367.2M | 0.48% | +2,936,676+974.2% | Added |
| Price T Rowe Associates Inc | 3,262,954 | $370.0M | 0.04% | −2,107,418−39.2% | Reduced |
| Dimensional Fund Advisors LP | 3,484,692 | $395.1M | 0.08% | +57,813+1.7% | Added |
| NetEase, Inc. | 3,555,488 | $403.2M | 93.24% | 00.0% | Unchanged |
| Greenwoods Asset Management Hong Kong Ltd.SuperinvestorGreenwoods Asset Management | 3,968,270 | $450.0M | 11.12% | +611,306+18.2% | Added |
| Schroder Investment Management Group | 4,137,857 | $469.2M | 0.36% | +2,757,844+199.8% | Added |
| Legal & General Group Plc | 4,147,464 | $470.3M | 0.10% | −378,036−8.4% | Reduced |
| UBS Group AG | 4,148,190 | $470.4M | 0.09% | +1,682,746+68.3% | Added |
| Dodge & Cox | 4,439,800 | $503.4M | 0.27% | +4,439,800 | New |
| Marshall Wace, LLP | 4,512,664 | $511.7M | 0.49% | +2,158,500+91.7% | Added |
| Himalaya Capital Management LLCSuperinvestorHimalaya Capital | 4,608,000 | $522.5M | 14.64% | 00.0% | Unchanged |
| Temasek Holdings (Private) Ltd | 4,682,894 | $531.0M | 1.71% | +334,647+7.7% | Added |
| HSBC Holdings PLC | 4,669,352 | $531.1M | 0.30% | −3,738,306−44.5% | Reduced |
| Capital International Investors | 4,698,655 | $532.8M | 0.08% | +807,336+20.7% | Added |
| JPMorgan Chase & Co | 5,068,738 | $574.7M | 0.04% | −513,089−9.2% | Reduced |
| BNP Paribas Arbitrage, SA | 5,146,573 | $583.6M | 0.37% | +103,810+2.1% | Added |
| Morgan Stanley | 5,948,846 | $674.5M | 0.04% | −1,147,316−16.2% | Reduced |
| Krane Funds Advisors LLC | 6,397,960 | $725.5M | 23.54% | +258,888+4.2% | Added |
| FIL Ltd | 6,516,042 | $738.9M | 0.55% | −696,268−9.7% | Reduced |
| Geode Capital Management, LLC | 6,759,780 | $761.7M | 0.05% | +359,921+5.6% | Added |
| Assenagon Asset Management S.A. | 6,728,909 | $763.0M | 1.15% | +5,070,827+305.8% | Added |
| First Beijing Investment Ltd | 6,782,955 | $769.1M | 30.33% | +614,234+10.0% | Added |
| Sanders Capital, LLC | 8,112,327 | $919.9M | 1.06% | −20,963−0.3% | Reduced |
| Goldman Sachs Group Inc | 8,826,751 | $1.00B | 0.14% | −1,224,528−12.2% | Reduced |
| SC US (TTGP), Ltd. | 8,841,576 | $1.00B | 7.16% | 00.0% | Unchanged |
| Norges Bank | 9,396,292 | $1.07B | 0.11% | +9,396,292 | New |
| SC China Holding Ltd | 11,348,426 | $1.20B | 70.42% | 00.0% | Unchanged |
| HHLR Advisors, Ltd.SuperinvestorHHLR Advisors (Hillhouse) | 10,721,400 | $1.22B | 39.17% | +2,128,800+24.8% | Added |
| H&H International Investment, LLCSuperinvestorH&H International Investment | 11,536,694 | $1.31B | 7.48% | +2,962,500+34.6% | Added |
| State Street Corp | 12,257,360 | $1.39B | 0.05% | +153,878+1.3% | Added |
| FMR LLC | 14,597,758 | $1.66B | 0.08% | −2,721,955−15.7% | Reduced |
| Invesco Ltd. | 21,165,375 | $2.40B | 0.23% | +15,887,349+301.0% | Added |
| Baillie Gifford & Co | 31,032,323 | $3.52B | 2.92% | −766,680−2.4% | Reduced |
| Vanguard Group Inc | 32,810,630 | $3.72B | 0.05% | +425,908+1.3% | Added |
| BlackRock, Inc. | 39,152,152 | $4.44B | 0.08% | +3,308,901+9.2% | Added |
| Altimeter Capital Management, LPSuperinvestorAltimeter Capital | 0 | $0 | 0.00% | −1,371,680−100.0% | Sold out |
| Susquehanna Advisors Group, Inc. | 0 | $0 | 0.00% | −954,200−100.0% | Sold out |
| WT Asset Management Ltd | 0 | $0 | 0.00% | −756,540−100.0% | Sold out |
| Point72 Asset Management, L.P. | 0 | $0 | 0.00% | −614,101−100.0% | Sold out |
| Trivest Advisors Ltd | 0 | $0 | 0.00% | −490,000−100.0% | Sold out |
| RV Capital GmbH | 0 | $0 | 0.00% | −301,232−100.0% | Sold out |
| Monolith Management Ltd | 0 | $0 | 0.00% | −209,393−100.0% | Sold out |
| Ardmore Road Asset Management LP | 0 | $0 | 0.00% | −200,000−100.0% | Sold out |
| Tiger Pacific Capital LP | 0 | $0 | 0.00% | −187,323−100.0% | Sold out |
| Wim Investment Management Ltd | 0 | $0 | 0.00% | −157,968−100.0% | Sold out |
| Ossiam | 0 | $0 | 0.00% | −134,000−100.0% | Sold out |
| Hidden Lake Asset Management LP | 0 | $0 | 0.00% | −120,847−100.0% | Sold out |
| 3G Capital Partners LP | 0 | $0 | 0.00% | −100,000−100.0% | Sold out |
| Owl Creek Asset Management, L.P. | 0 | $0 | 0.00% | −89,732−100.0% | Sold out |
| Contrarius Group Holdings Ltd | 0 | $0 | 0.00% | −85,372−100.0% | Sold out |
| Holocene Advisors, LP | 0 | $0 | 0.00% | −83,528−100.0% | Sold out |
| AMS Capital Ltda | 0 | $0 | 0.00% | −67,854−100.0% | Sold out |
| Nishkama Capital, LLC | 0 | $0 | 0.00% | −67,162−100.0% | Sold out |
| Schonfeld Strategic Advisors LLC | 0 | $0 | 0.00% | −54,041−100.0% | Sold out |
| Y-Intercept (Hong Kong) Ltd | 0 | $0 | 0.00% | −52,421−100.0% | Sold out |
| Caption Management, LLC | 0 | $0 | 0.00% | −49,947−100.0% | Sold out |
| Quantitative Investment Management, LLC | 0 | $0 | 0.00% | −39,402−100.0% | Sold out |
| Integrated Quantitative Investments LLC | 0 | $0 | 0.00% | −37,723−100.0% | Sold out |
| SIH Partners, LLLP | 0 | $0 | 0.00% | −36,200−100.0% | Sold out |
| Gunderson Capital Management Inc. | 0 | $0 | 0.00% | −27,180−100.0% | Sold out |
| Woodline Partners LP | 0 | $0 | 0.00% | −21,204−100.0% | Sold out |