E Fund Management Co., Ltd.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), E Fund Management Co., Ltd. reported 398 stock positions worth $2.1 billion. Its top holding was PDD (PDD) at 19.6% of the portfolio, followed by Microsoft (MSFT, 6.7%) and Apple (AAPL, 6.7%). Compared with Q4 2024, it opened 43 new positions, sold out of 40, added to 236 and reduced 92. The biggest buy was Meta Platforms Class A (META, shares +60%) and the biggest sale PDD (PDD, shares −19%).
- Most Recent 13F
- Q2 2026
- Location
- GUANGZHOU, F4
- CIK
- 0001842296
- Portfolio Value
- $2.1B (Q1 2025)
- SEC Filing
- 0001842296-25-000002 ↗ filed May 13, 2025
Holdings Value
Holdings 398 stocks · $2.1B
| PDD PDD Holdings Inc. | 19.65% | 3,474,551 | $411.2M | Reduce -18.8% |
| MSFT Microsoft Corp. | 6.71% | 373,874 | $140.3M | Add +13.8% |
| AAPL Apple Inc. | 6.68% | 629,478 | $139.8M | Add +19.4% |
| NVDA Nvidia Corp. | 5.31% | 1,024,698 | $111.1M | Add +15.7% |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 3.36% | 3,503,210 | $70.4M | Reduce -18.4% |
| YMM Full Truck Alliance -SPN ADR | 2.47% | 4,048,671 | $51.7M | Reduce -16.4% |
| AMZN Amazon.com Inc. | 2.25% | 247,475 | $47.1M | Add +41.0% |
| TME Tencent Music Entertainm-ADR | 2.01% | 2,920,588 | $42.1M | Reduce -19.3% |
| TSM Taiwan Semiconductor-SP ADR | 1.90% | 239,277 | $39.7M | Reduce -17.2% |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 1.82% | 373,173 | $38.2M | Add +12.5% |
| AVGO Broadcom Inc. | 1.80% | 225,309 | $37.7M | Add +7.2% |
| META Meta Platforms Inc. Class A | 1.70% | 61,847 | $35.6M | Add +59.8% |
| BZ Kanzhun Ltd. - ADR | 1.66% | 1,813,791 | $34.8M | Reduce -18.8% |
| ASML ASML Holding NV-NY Reg SHS | 1.44% | 45,561 | $30.2M | Add +3.4% |
| QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC | 1.37% | 639,263 | $28.7M | Reduce -18.8% |
| KLAC KLA Corp. | 1.34% | 41,184 | $28.0M | Add +4.7% |
| TAL Tal Education Group- ADR | 1.27% | 2,009,506 | $26.5M | Reduce -19.0% |
| VIPS Vipshop Holdings Ltd. - ADR | 1.12% | 1,498,497 | $23.5M | Reduce -19.6% |
| GOOGL Alphabet Inc. Class A | 1.01% | 136,737 | $21.1M | Add +39.4% |
| TSLA Tesla Inc. | 0.99% | 80,236 | $20.8M | Add +24.7% |
| GOOG Alphabet Inc. Class C | 0.97% | 130,408 | $20.4M | Add +53.2% |
| NFLX Netflix Inc. | 0.82% | 18,411 | $17.2M | Add +75.7% |
| IVV iShares Core S&P 500 ETF | 0.80% | 29,767 | $16.7M | Add +7.2% |
| COST Costco Wholesale Corp. | 0.77% | 17,130 | $16.2M | Add +67.8% |
| CSCO Cisco Systems Inc. | 0.67% | 226,204 | $14.0M | Add +38.5% |
| AMAT Applied Materials Inc. | 0.66% | 95,509 | $13.9M | Add +4.0% |
| AMD Advanced Micro Devices | 0.55% | 112,895 | $11.6M | Add +69.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.54% | 21,233 | $11.3M | Add +35.7% |
| PLTR Palantir Technologies Inc. Class A | 0.52% | 128,185 | $10.8M | Add +88.1% |
| JPM JPMorgan Chase & Co. | 0.47% | 39,834 | $9.8M | Add +18.1% |
| QCOM Qualcomm Inc. | 0.46% | 62,812 | $9.6M | Add +37.9% |
| ADBE Adobe Inc. | 0.45% | 24,727 | $9.5M | Add +37.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.45% | 16,922 | $9.5M | Reduce -5.8% |
| V Visa Inc. Class A | 0.45% | 26,601 | $9.3M | Add +43.2% |
| LLY Eli Lilly & Co. | 0.42% | 10,712 | $8.8M | Add +15.6% |
| ATHM Autohome Inc.-ADR | 0.42% | 315,787 | $8.8M | Reduce -18.9% |
| LIN Linde PLC | 0.41% | 18,268 | $8.5M | Add +69.1% |
| TMUS T-Mobile US Inc. | 0.39% | 30,538 | $8.1M | Add +103.6% |
| CRM Salesforce Inc. | 0.38% | 29,981 | $8.0M | Reduce -21.3% |
| YUMC Yum China Holdings Inc. | 0.38% | 153,800 | $8.0M | Reduce -30.9% |
| INTU Intuit Inc. | 0.38% | 13,013 | $8.0M | Add +13.3% |
| PEP Pepsico Inc. | 0.38% | 52,812 | $7.9M | Add +69.3% |
| MA Mastercard Inc. Class A | 0.37% | 14,127 | $7.7M | Add +17.9% |
| TXN Texas Instruments Inc. | 0.36% | 42,254 | $7.6M | Add +13.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.35% | 29,139 | $7.2M | Add +8.4% |
| BSX Boston Scientific Corp. | 0.34% | 71,560 | $7.2M | Reduce -17.6% |
| ORCL Oracle Corp. | 0.34% | 51,252 | $7.2M | Add +8.1% |
| ISRG Intuitive Surgical Inc. | 0.34% | 14,318 | $7.1M | Add +64.6% |
| INTC Intel Corp. | 0.33% | 307,823 | $7.0M | Add +119.3% |
| XOM Exxon Mobil Corp. | 0.32% | 56,549 | $6.7M | Add +17.5% |
| UNH Unitedhealth Group Inc. | 0.31% | 12,478 | $6.5M | Add +17.3% |
| NOW ServiceNow Inc. | 0.31% | 8,091 | $6.4M | Reduce -23.8% |
| ACN Accenture PLC Class A | 0.29% | 19,499 | $6.1M | Add +7.3% |
| ABBV Abbvie Inc. | 0.29% | 28,900 | $6.1M | Add +8.9% |
| AMGN Amgen Inc. | 0.29% | 19,338 | $6.0M | Add +56.2% |
| JOYY Joyy Inc.-ADR | 0.28% | 141,681 | $5.9M | Reduce -9.6% |
| SMMT Summit Therapeutics Inc. | 0.27% | 295,617 | $5.7M | Reduce -0.2% |
| JNJ Johnson & Johnson | 0.26% | 32,801 | $5.4M | Add +15.6% |
| ADI Analog Devices Inc. | 0.25% | 26,337 | $5.3M | Add +62.8% |
| PANW Palo Alto Networks Inc. | 0.25% | 30,964 | $5.3M | Add +41.9% |
| GILD Gilead Sciences Inc. | 0.25% | 46,594 | $5.2M | Add +46.6% |
| PG The Procter & Gamble Co. | 0.25% | 30,433 | $5.2M | Add +18.2% |
| MU Micron Technology Inc. | 0.25% | 59,355 | $5.2M | Add +63.2% |
| WMT Walmart Inc. | 0.24% | 57,233 | $5.0M | Reduce -6.2% |
| IQ Iqiyi Inc.-ADR | 0.24% | 2,191,662 | $5.0M | Reduce -17.9% |
| VRTX Vertex Pharmaceuticals Inc. | 0.23% | 9,884 | $4.8M | Add +53.6% |
| HD Home Depot Inc. | 0.23% | 12,877 | $4.7M | Add +17.0% |
| LRCX Lam Research Corp. | 0.21% | 59,713 | $4.3M | Add +42.4% |
| BKNG Booking Holdings Inc. | 0.20% | 929 | $4.3M | Add +98.1% |
| WB Weibo Corp.-Spon ADR | 0.20% | 450,911 | $4.3M | Reduce -1.6% |
| CDNS Cadence Design SYS Inc. | 0.20% | 16,192 | $4.1M | Add +32.6% |
| CMCSA Comcast Corp. Class A | 0.19% | 106,586 | $3.9M | Add +95.2% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.19% | 11,063 | $3.9M | Add +45.6% |
| HON Honeywell International Inc. | 0.19% | 18,343 | $3.9M | Add +97.2% |
| KO The Coca-Cola Co. | 0.18% | 53,627 | $3.8M | Add +22.1% |
| GLDM SPDR Gold Minishares Trust | 0.18% | 61,370 | $3.8M | Reduce -2.9% |
| GLD SPDR Gold Shares | 0.18% | 13,179 | $3.8M | Add +46.2% |
| IAU iShares Gold Trust | 0.18% | 64,315 | $3.8M | Reduce -4.4% |
| APH Amphenol Corp. Class A | 0.18% | 57,128 | $3.7M | Add +54.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.18% | 88,963 | $3.7M | Add +13.0% |
| GE General Electric filed as GE AEROSPACE | 0.18% | 18,381 | $3.7M | Add +6.1% |
| CVX Chevron Corp. | 0.18% | 21,915 | $3.7M | Add +17.2% |
| MAR Marriott International Class A | 0.17% | 15,374 | $3.7M | Add +6.7% |
| SGOL Abrdn Physical Gold Shares | 0.17% | 119,505 | $3.6M | New |
| ADP Automatic Data Processing | 0.17% | 11,489 | $3.5M | Add +96.4% |
| ARGX Argenx SE - ADR | 0.16% | 5,800 | $3.4M | No change |
| ALNY Alnylam Pharmaceuticals Inc. | 0.16% | 12,708 | $3.4M | Add +3.4% |
| LEGN Legend Biotech Corp.-ADR | 0.16% | 100,170 | $3.4M | Reduce -11.6% |
| ROP Roper Technologies Inc. | 0.16% | 5,593 | $3.3M | Add +57.5% |
| ABT Abbott Laboratories | 0.16% | 24,621 | $3.3M | Add +13.2% |
| MRK Merck & Co. Inc. | 0.15% | 35,768 | $3.2M | Add +16.1% |
| PM Philip Morris International | 0.15% | 20,044 | $3.2M | Add +18.7% |
| FTNT Fortinet Inc. | 0.15% | 32,779 | $3.2M | Add +47.9% |
| SBUX Starbucks Corp. | 0.15% | 32,081 | $3.1M | Add +97.1% |
| HTHT H World Group Ltd.-ADR | 0.15% | 84,518 | $3.1M | Reduce -28.8% |
| REGN Regeneron Pharmaceuticals | 0.15% | 4,912 | $3.1M | Add +53.6% |
| SNPS Synopsys Inc. | 0.15% | 7,207 | $3.1M | Reduce -6.0% |
| WFC Wells Fargo & Co. | 0.15% | 42,336 | $3.0M | Add +13.6% |
| APP AppLovin Corp. Class A | 0.14% | 11,340 | $3.0M | Add +204.0% |
| MCD McDonald's Corp. | 0.14% | 9,238 | $2.9M | Add +18.6% |
Portfolio Sells Q4 2024 → Q1 2025
| PDD PDD Holdings Inc. | Reduce -18.8% | 19.65% | −1.18 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -17.2% | 1.90% | −0.97 |
| BEKE Ke Holdings Inc.-ADR | Reduce -18.4% | 3.36% | −0.61 |
| NOW ServiceNow Inc. | Reduce -23.8% | 0.31% | −0.26 |
| CRM Salesforce Inc. | Reduce -21.3% | 0.38% | −0.25 |
| YMM Full Truck Alliance -SPN ADR | Reduce -16.4% | 2.47% | −0.16 |
| YUMC Yum China Holdings Inc. | Reduce -30.9% | 0.38% | −0.16 |
| RING iShares MSCI Global Gold Min | Sold out | 0.00% | −0.15 |
| CRDO Credo Technology Group Holdi | Sold out | 0.00% | −0.15 |
| MRVL Marvell Technology Inc. | Reduce -43.0% | 0.07% | −0.15 |
| QFIN Qfin Holdings Inc.-ADR | Reduce -18.8% | 1.37% | −0.15 |
| TLT iShares 20+ Year Treasury BD | Reduce -69.3% | 0.06% | −0.14 |
| VIPS Vipshop Holdings Ltd. - ADR | Reduce -19.6% | 1.12% | −0.14 |
| PTGX Protagonist Therapeutics Inc. | Reduce -94.6% | 0.01% | −0.14 |
| TER Teradyne Inc. | Reduce -85.2% | 0.01% | −0.14 |
| RVMD Revolution Medicines Inc. | Reduce -78.6% | 0.03% | −0.13 |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | Sold out | 0.00% | −0.09 |
| VGLT Vanguard Long-Term Treasury | Sold out | 0.00% | −0.09 |
| ATHM Autohome Inc.-ADR | Reduce -18.9% | 0.42% | −0.09 |
| STAA Staar Surgical Co. | Sold out | 0.00% | −0.08 |
| DUOL Duolingo | Sold out | 0.00% | −0.08 |
| GDX Vaneck Gold Miners ETF | Sold out | 0.00% | −0.08 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -5.8% | 0.45% | −0.08 |
| GEV GE Vernova Inc. | Reduce -82.5% | 0.01% | −0.07 |
| TCOM Trip.com Group Ltd.-ADR | Sold out | 0.00% | −0.07 |
| ANET Arista Networks Inc. | Reduce -14.0% | 0.08% | −0.06 |
| ONON On Holding AG Class A | Sold out | 0.00% | −0.05 |
| TME Tencent Music Entertainm-ADR | Reduce -19.3% | 2.01% | −0.05 |
| HTHT H World Group Ltd.-ADR | Reduce -28.8% | 0.15% | −0.05 |
| CGEM Cullinan Therapeutics Inc. | Sold out | 0.00% | −0.05 |
| JOYY Joyy Inc.-ADR | Reduce -9.6% | 0.28% | −0.05 |
| FICO Fair Isaac Corp. | Reduce -43.0% | 0.05% | −0.04 |
| BSX Boston Scientific Corp. | Reduce -17.6% | 0.34% | −0.04 |
| MSI Motorola Solutions Inc. | Reduce -27.4% | 0.08% | −0.04 |
| DDOG Datadog Inc. Class A | Reduce -27.0% | 0.04% | −0.04 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −0.04 |
| DECK Deckers Outdoor Corp. | Sold out | 0.00% | −0.04 |
| SNPS Synopsys Inc. | Reduce -6.0% | 0.15% | −0.04 |
| DHR Danaher Corp. | Reduce -46.2% | 0.03% | −0.04 |
| VST Vistra Corp. | Sold out | 0.00% | −0.04 |
| HWM Howmet Aerospace Inc. | Reduce -77.7% | 0.01% | −0.04 |
| WMT Walmart Inc. | Reduce -6.2% | 0.24% | −0.04 |
| IT Gartner Inc. | Reduce -41.5% | 0.03% | −0.03 |
| IQ Iqiyi Inc.-ADR | Reduce -17.9% | 0.24% | −0.03 |
| SNOW Snowflake Inc. | Sold out | 0.00% | −0.03 |
| EXE Expand Energy Corp. | Sold out | 0.00% | −0.03 |
| FATE Fate Therapeutics Inc. | Sold out | 0.00% | −0.03 |
| TJX TJX Companies Inc. | Reduce -54.5% | 0.02% | −0.03 |
| EQT Eqt Corp. | Sold out | 0.00% | −0.03 |
| DPZ Domino's Pizza Inc. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| META Meta Platforms Inc. Class A | Add +59.8% | 1.70% | +0.56 |
| FUTU Futu Holdings Ltd.-ADR | Add +12.5% | 1.82% | +0.49 |
| NFLX Netflix Inc. | Add +75.7% | 0.82% | +0.35 |
| AMZN Amazon.com Inc. | Add +41.0% | 2.25% | +0.32 |
| COST Costco Wholesale Corp. | Add +67.8% | 0.77% | +0.30 |
| PLTR Palantir Technologies Inc. Class A | Add +88.1% | 0.52% | +0.26 |
| TMUS T-Mobile US Inc. | Add +103.6% | 0.39% | +0.22 |
| INTC Intel Corp. | Add +119.3% | 0.33% | +0.19 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +35.7% | 0.54% | +0.18 |
| CSCO Cisco Systems Inc. | Add +38.5% | 0.67% | +0.18 |
| LIN Linde PLC | Add +69.1% | 0.41% | +0.18 |
| SGOL Abrdn Physical Gold Shares | New | 0.17% | +0.17 |
| GOOG Alphabet Inc. Class C | Add +53.2% | 0.97% | +0.16 |
| AMD Advanced Micro Devices | Add +69.9% | 0.55% | +0.15 |
| V Visa Inc. Class A | Add +43.2% | 0.45% | +0.15 |
| PEP Pepsico Inc. | Add +69.3% | 0.38% | +0.14 |
| AMGN Amgen Inc. | Add +56.2% | 0.29% | +0.13 |
| ISRG Intuitive Surgical Inc. | Add +64.6% | 0.34% | +0.11 |
| QCOM Qualcomm Inc. | Add +37.9% | 0.46% | +0.11 |
| GILD Gilead Sciences Inc. | Add +46.6% | 0.25% | +0.10 |
| VRTX Vertex Pharmaceuticals Inc. | Add +53.6% | 0.23% | +0.10 |
| KLAC KLA Corp. | Add +4.7% | 1.34% | +0.09 |
| BNTX Biontech SE-ADR | New | 0.09% | +0.09 |
| MU Micron Technology Inc. | Add +63.2% | 0.25% | +0.09 |
| BKNG Booking Holdings Inc. | Add +98.1% | 0.20% | +0.09 |
| CMCSA Comcast Corp. Class A | Add +95.2% | 0.19% | +0.09 |
| DIS The Walt Disney Co. | Add +419.4% | 0.11% | +0.08 |
| SE Sea Ltd.-ADR | New | 0.08% | +0.08 |
| APP AppLovin Corp. Class A | Add +204.0% | 0.14% | +0.08 |
| ADP Automatic Data Processing | Add +96.4% | 0.17% | +0.08 |
| ADI Analog Devices Inc. | Add +62.8% | 0.25% | +0.08 |
| HON Honeywell International Inc. | Add +97.2% | 0.19% | +0.08 |
| GOOGL Alphabet Inc. Class A | Add +39.4% | 1.01% | +0.08 |
| SBUX Starbucks Corp. | Add +97.1% | 0.15% | +0.08 |
| CCI Crown Castle Inc. | New | 0.07% | +0.07 |
| GLD SPDR Gold Shares | Add +46.2% | 0.18% | +0.07 |
| MELI MercadoLibre Inc. | Add +114.9% | 0.12% | +0.07 |
| TW Tradeweb Markets Inc. Class A | New | 0.07% | +0.07 |
| ORLY O'reilly Automotive Inc. | Add +104.5% | 0.12% | +0.07 |
| ATAT Atour Lifestyle Holdings-ADR | New | 0.07% | +0.07 |
| ROP Roper Technologies Inc. | Add +57.5% | 0.16% | +0.06 |
| LLY Eli Lilly & Co. | Add +15.6% | 0.42% | +0.06 |
| XOM Exxon Mobil Corp. | Add +17.5% | 0.32% | +0.06 |
| JPM JPMorgan Chase & Co. | Add +18.1% | 0.47% | +0.06 |
| MDLZ Mondelez International Inc. Class A | Add +88.1% | 0.12% | +0.06 |
| CTAS Cintas Corp. | Add +100.5% | 0.11% | +0.06 |
| DASH DoorDash Inc. Class A | Add +136.6% | 0.10% | +0.06 |
| BTI British American Tob-SP ADR | New | 0.06% | +0.06 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +45.6% | 0.19% | +0.06 |
| LRCX Lam Research Corp. | Add +42.4% | 0.21% | +0.06 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 488 | $4.5B | PDD, LRCX, AMD, NVDA, INTC |
| Q1 2026 | 489 | $3.4B | PDD, NVDA, AAPL, TSM, LITE |
| Q2 2025 | 394 | $2.1B | PDD, MSFT, NVDA, AAPL, AVGO |
| Q1 2025 | 398 | $2.1B | PDD, MSFT, AAPL, NVDA, BEKE |
| Q4 2024 | 395 | $2.0B | PDD, MSFT, AAPL, NVDA, BEKE |
| Q3 2024 | 353 | $1.9B | PDD, MSFT, AAPL, BEKE, NVDA |
| Q2 2024 | 318 | $1.8B | PDD, MSFT, TSM, NVDA, AAPL |
| Q1 2024 | 368 | $1.6B | PDD, MSFT, BEKE, TSM, TME |