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 |
|---|---|---|---|---|---|
| AnglePoint Asset Management Ltd | 513,112 | $58.2M | 43.14% | +218,463+74.1% | Added |
| Charles-Lim Capital Ltd | 500,000 | $56.7M | 15.38% | −100,000−16.7% | Reduced |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 499,516 | $56.6M | 0.07% | +132,448+36.1% | Added |
| Kora Management LP | 490,650 | $55.6M | 7.41% | −113,600−18.8% | Reduced |
| Manufacturers Life Insurance Company, The | 484,402 | $55.0M | 0.05% | +239,062+97.4% | Added |
| SEI Investments Co | 449,686 | $51.0M | 0.05% | +189,273+72.7% | Added |
| Cat Rock Capital Management LP | 445,228 | $50.5M | 7.24% | 00.0% | Unchanged |
| PEAK6 LLC | 435,042 | $49.3M | 1.35% | +409,515+1,604.2% | Added |
| Mackenzie Financial Corp | 421,758 | $47.9M | 0.06% | +50,368+13.6% | Added |
| Harvest Fund Management Co., Ltd | 422,263 | $47.9M | 1.80% | +26,154+6.6% | Added |
| Punch Card Management L.P. | 415,004 | $47.1M | 15.64% | 00.0% | Unchanged |
| Public Sector Pension Investment Board | 414,330 | $47.0M | 0.16% | +2,400+0.6% | Added |
| Capital International Inc | 409,537 | $46.4M | 0.37% | +52,371+14.7% | Added |
| Oversea-Chinese Banking CORP Ltd | 400,127 | $45.4M | 1.25% | +31,563+8.6% | Added |
| Centiva Capital, LP | 400,000 | $45.4M | 2.74% | +196,808+96.9% | Added |
| Nomura Holdings Inc | 384,271 | $43.6M | 0.12% | +282,300+276.8% | Added |
| Millennium Management LLC | 382,550 | $43.4M | 0.03% | +218,296+132.9% | Added |
| Polymer Capital Management (HK) LTD | 378,574 | $42.9M | 6.68% | +196,390+107.8% | Added |
| USS Investment Management Ltd | 375,076 | $42.5M | 0.21% | −96,978−20.5% | Reduced |
| Causeway Capital Management LLC | 371,241 | $42.1M | 0.58% | +61,600+19.9% | Added |
| Matthews International Capital Management LLC | 370,640 | $42.0M | 12.76% | −123,162−24.9% | Reduced |
| Mirae Asset Global Investments Co., Ltd. | 364,337 | $41.3M | 0.11% | +14,954+4.3% | Added |
| Bank of Montreal | 350,801 | $39.8M | 0.02% | +95,822+37.6% | Added |
| IMC-Chicago, LLC | 347,618 | $39.4M | 0.69% | +347,618 | New |
| TB Alternative Assets Ltd. | 340,228 | $38.6M | 6.32% | −5,660−1.6% | Reduced |
| Balyasny Asset Management LLC | 335,433 | $38.0M | 0.07% | −103,201−23.5% | Reduced |
| Victory Capital Management Inc | 333,281 | $37.8M | 0.02% | +6,951+2.1% | Added |
| M&G Plc | 325,505 | $36.8M | 0.19% | −1000.0% | Reduced |
| APG Asset Management N.V. | 380,428 | $36.7M | 0.10% | +2,900+0.8% | Added |
| Citadel Advisors LLC | 315,262 | $35.7M | 0.02% | −1,028,796−76.5% | Reduced |
| Todd Asset Management LLC | 312,283 | $35.4M | 0.69% | −6,152−1.9% | Reduced |
| California State Teachers Retirement System | 309,209 | $35.1M | 0.04% | −16,165−5.0% | Reduced |
| Maple Rock Capital Partners Inc. | 306,641 | $34.8M | 1.15% | −212,300−40.9% | Reduced |
| Alpine Investment Management Ltd | 306,198 | $34.7M | 15.60% | +306,198 | New |
| Arrowstreet Capital, Limited Partnership | 305,410 | $34.6M | 0.02% | −1,182,356−79.5% | Reduced |
| Franchise GP Ltd | 302,460 | $34.3M | 39.93% | +302,460 | New |
| Handelsbanken Fonder AB | 289,419 | $32.8M | 0.10% | +27,241+10.4% | Added |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 286,726 | $32.5M | 0.07% | +88,546+44.7% | Added |
| NEOS Investment Management LLC | 279,363 | $31.7M | 0.18% | +75,007+36.7% | Added |
| British Columbia Investment Management Corp | 275,000 | $31.2M | 0.16% | −1,500−0.5% | Reduced |
| Renaissance Technologies LLC | 273,900 | $31.1M | 0.05% | +109,500+66.6% | Added |
| E Fund Management (Hong Kong) Co., Ltd. | 292,834 | $30.3M | 12.66% | +4,182+1.4% | Added |
| Headwater Capital Co Ltd | 260,000 | $29.5M | 6.13% | +110,000+73.3% | Added |
| Ameriprise Financial Inc | 253,111 | $28.7M | 0.01% | −419,840−62.4% | Reduced |
| Exchange Traded Concepts, LLC | 242,722 | $27.5M | 0.23% | +22,169+10.1% | Added |
| Credit Agricole S A | 239,796 | $27.2M | 0.07% | +59,154+32.7% | Added |
| KBC Group NV | 239,124 | $27.1M | 0.06% | +41,272+20.9% | Added |
| WCM Investment Management, LLC | 228,515 | $26.0M | 0.05% | +34,730+17.9% | Added |
| Voya Investment Management LLC | 225,227 | $25.5M | 0.03% | +42,013+22.9% | Added |
| Carrhae Capital LLP | 222,654 | $25.2M | 1.68% | −164,270−42.5% | Reduced |
| Global X Japan Co., Ltd. | 222,147 | $25.2M | 1.92% | +59,896+36.9% | Added |
| BI Asset Management Fondsmaeglerselskab A/S | 221,109 | $25.1M | 0.22% | +41,934+23.4% | Added |
| Cable Car Capital LLC | 220,000 | $24.9M | 1.55% | +220,000 | New |
| Connor, Clark & Lunn Investment Management Ltd. | 216,765 | $24.6M | 0.06% | −82,240−27.5% | Reduced |
| Jennison Associates LLC | 213,348 | $24.2M | 0.01% | +213,348 | New |
| Teachers Retirement System of the State of Kentucky | 210,660 | $23.9M | 0.18% | −3,200−1.5% | Reduced |
| Marex Group plc | 199,627 | $22.6M | 0.25% | −33,346−14.3% | Reduced |
| Public Employees Retirement System of Ohio | 197,711 | $22.4M | 0.07% | −25,784−11.5% | Reduced |
| National Pension Service | 196,838 | $22.3M | 0.02% | +17,375+9.7% | Added |
| Parallax Volatility Advisers, L.P. | 187,904 | $21.3M | 0.66% | +187,904 | New |
| Yunqi Capital Ltd | 185,100 | $21.0M | 16.74% | +40,300+27.8% | Added |
| Panview Capital Ltd | 181,680 | $20.6M | 7.40% | +56,680+45.3% | Added |
| KLP Kapitalforvaltning AS | 181,400 | $20.6M | 0.08% | +13,200+7.8% | Added |
| Jupiter Asset Management Ltd | 180,704 | $20.5M | 0.16% | +158,704+721.4% | Added |
| Resona Asset Management Co.,Ltd. | 179,539 | $20.4M | 0.10% | −8,408−4.5% | Reduced |
| Tairen Capital Ltd | 177,200 | $20.1M | 2.09% | +169,200+2,115.0% | Added |
| Guggenheim Capital LLC | 159,549 | $18.1M | 0.13% | +4,653+3.0% | Added |
| Tudor Investment Corp Et Al | 151,348 | $17.2M | 0.09% | +19,576+14.9% | Added |
| CIBC Asset Management Inc | 150,924 | $17.1M | 0.04% | +8,813+6.2% | Added |
| MY.Alpha Management HK Advisors Ltd | 145,263 | $16.5M | 8.84% | +145,263 | New |
| Candriam Luxembourg S.C.A. | 139,800 | $15.9M | 0.08% | −35,200−20.1% | Reduced |
| Orland Properties Ltd | 138,835 | $15.7M | 2.95% | 00.0% | Unchanged |
| Lansforsakringar Fondforvaltning AB (publ) | 137,330 | $15.6M | 0.08% | +7,210+5.5% | Added |
| Itau Unibanco Holding S.A. | 136,375 | $15.5M | 0.38% | +136,375 | New |
| Wells Fargo & Company | 135,516 | $15.4M | 0.00% | +7,630+6.0% | Added |
| Nomura Asset Management Co Ltd | 128,886 | $14.6M | 0.04% | +6,033+4.9% | Added |
| Himension Fund | 127,812 | $14.5M | 0.89% | +16,859+15.2% | Added |
| Panagora Asset Management Inc | 123,896 | $14.0M | 0.05% | −82,069−39.8% | Reduced |
| Optimas Capital Ltd | 120,256 | $13.6M | 24.91% | +87,707+269.5% | Added |
| Neuberger Berman Group LLC | 120,173 | $13.6M | 0.01% | +18,276+17.9% | Added |
| Asset Management One Co.,Ltd. | 118,509 | $13.5M | 0.04% | −6,399−5.1% | Reduced |
| Parus Finance (UK) Ltd | 112,506 | $12.8M | 3.35% | −70,970−38.7% | Reduced |
| Rafferty Asset Management, LLC | 112,024 | $12.7M | 0.04% | +17,463+18.5% | Added |
| Danske Bank A/S | 109,112 | $12.4M | 0.03% | +1,400+1.3% | Added |
| Cantor Fitzgerald, L. P. | 109,110 | $12.4M | 0.37% | +54,371+99.3% | Added |
| Nan Fung Trinity (HK) Ltd | 108,100 | $12.3M | 0.97% | 00.0% | Unchanged |
| Nissay Asset Management Corp | 107,767 | $12.2M | 0.06% | +8,161+8.2% | Added |
| Macquarie Group Ltd | 100,423 | $11.4M | 0.05% | −1,167,297−92.1% | Reduced |
| Mirae Asset Securities (USA) Inc. | 100,247 | $11.4M | 0.45% | +100,247 | New |
| Antipodes Partners Ltd | 98,144 | $11.1M | 0.23% | −3,757−3.7% | Reduced |
| Eurizon Capital SGR S.p.A. | 96,606 | $11.0M | 0.03% | +96,606 | New |
| Toroso Investments, LLC | 96,529 | $10.9M | 0.05% | −3,945−3.9% | Reduced |
| Taikang Asset Management (Hong Kong) Co Ltd | 95,665 | $10.8M | 1.07% | +6,359+7.1% | Added |
| Profund Advisors LLC | 94,291 | $10.7M | 0.32% | +1,785+1.9% | Added |
| Fideuram Asset Management (Ireland) dac | 89,220 | $10.5M | 0.84% | +89,220 | New |
| Swiss Life Asset Management Ltd | 92,430 | $10.5M | 0.05% | +22,207+31.6% | Added |
| iA Global Asset Management Inc. | 90,663 | $10.3M | 0.13% | +6,023+7.1% | Added |
| TD Asset Management Inc | 86,650 | $9.83M | 0.01% | −11,166−11.4% | Reduced |
| Police & Firemen's Retirement System of New Jersey | 83,999 | $9.52M | 0.08% | −824−1.0% | Reduced |
| Nearwater Capital Markets, Ltd | 83,100 | $9.42M | 0.16% | 00.0% | Unchanged |