PDD HoldingsPDD
13F holders, Q4 2025 (December 31)574holders +15
71new positions
71sold out
9famous investors
$113.26avg. 13F price*
At the end of Q4 2025, 574 institutions reported holding PDD Holdings Inc. (PDD) in their 13F filings, up 15 from Q3 2025. 71 opened new positions and 71 sold out. The largest holders were BlackRock, Inc. ($4.4B), Vanguard Group Inc. ($3.7B) and Baillie Gifford & Co. ($3.5B). 9 famous investors held it, including Li Lu (14.6% of Himalaya Capital Management's portfolio), Duan Yongping (7.5% of H&H International Investment's portfolio) and David Tepper (2.9% of Appaloosa's portfolio).
- Company
- PDD Holdings Inc.
- Sector
- Consumer Discretionary
- CUSIP
- 722304102
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q3 2025 → Q4 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 71 | $1.0B |
| Exits | 71 | $862.1M |
All 13F filers, Q3 2025 → Q4 2025: 64,477,305 shares bought and 45,373,335 shares sold, net +19,103,970 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 574 holders
| BlackRock, Inc. | 0.08% | Add +9.2% | 39,152,152 | $4.4B |
| Vanguard Group Inc. | 0.05% | Add +1.3% | 32,810,630 | $3.7B |
| Baillie Gifford & Co. | 2.92% | Reduce -2.4% | 31,032,323 | $3.5B |
| Invesco Ltd. | 0.23% | Add +301.0% | 21,165,375 | $2.4B |
| FMR LLC | 0.08% | Reduce -15.7% | 14,597,758 | $1.7B |
| State Street Corp. | 0.05% | Add +1.3% | 12,257,360 | $1.4B |
| H&H International Investment | 7.48% | Add +34.5% | 11,536,694 | $1.3B |
| HHLR Advisors, LTD. | 39.17% | Add +24.8% | 10,721,400 | $1.2B |
| HSG Holding Ltd | 63.61% | No change | 11,348,426 | $1.2B |
| Norges Bank | 0.11% | — | 9,396,292 | $1.1B |
| SC US (ttgp), LTD. | 7.19% | No change | 8,841,576 | $1.0B |
| Goldman Sachs Group Inc. | 0.14% | Reduce -12.2% | 8,826,751 | $1.0B |
| Sanders Capital, LLC | 1.06% | Reduce -0.3% | 8,112,327 | $919.9M |
| First Beijing Investment Ltd | 30.33% | Add +10.0% | 6,782,955 | $769.1M |
| Assenagon Asset Management S.A. | 1.15% | Add +305.8% | 6,728,909 | $763.0M |
| Geode Capital Management, LLC | 0.05% | Add +5.6% | 6,759,780 | $761.7M |
| FIL Ltd | 0.55% | Reduce -9.7% | 6,516,042 | $738.9M |
| Krane Funds Advisors LLC | 23.54% | Add +4.2% | 6,397,960 | $725.5M |
| Morgan Stanley | 0.04% | Reduce -16.2% | 5,948,846 | $674.5M |
| BNP Paribas Financial Markets | 0.37% | Add +2.1% | 5,146,573 | $583.6M |
| JPMorgan Chase & Co. | 0.04% | Reduce -9.2% | 5,068,738 | $574.7M |
| Capital International Investors | 0.08% | Add +20.8% | 4,698,655 | $532.8M |
| Temasek Holdings (Private) Ltd | 1.71% | Add +7.7% | 4,682,894 | $531.0M |
| HSBC Holdings PLC | 0.30% | Reduce -44.5% | 4,669,352 | $529.5M |
| Himalaya Capital Management | 14.64% | No change | 4,608,000 | $522.5M |
| Marshall Wace, LLP | 0.50% | Add +91.7% | 4,512,664 | $511.7M |
| Dodge & Cox | 0.27% | New | 4,439,800 | $503.4M |
| UBS Group AG | 0.09% | Add +68.3% | 4,148,190 | $470.4M |
| Legal & General Group Plc | 0.10% | Reduce -8.3% | 4,147,464 | $470.3M |
| Schroder Investment Management Group | 0.36% | Add +199.8% | 4,137,857 | $469.2M |
| Greenwoods Asset Management Hong Kong Ltd. | 11.12% | Add +18.2% | 3,968,270 | $450.0M |
| NetEase, Inc. | 93.24% | No change | 3,555,488 | $403.2M |
| Dimensional Fund Advisors LP | 0.08% | Add +1.7% | 3,484,692 | $395.1M |
| T. Rowe Price Associates Inc. | 0.04% | Reduce -39.2% | 3,262,954 | $370.0M |
| SG Americas Securities, LLC | 0.49% | Add +974.2% | 3,238,126 | $367.2M |
| Northern Trust Corp. | 0.05% | Reduce -0.7% | 3,189,599 | $361.7M |
| Mitsubishi UFJ Trust & Banking Corp | 0.85% | Add +25.5% | 3,167,810 | $359.2M |
| Aspex Management (HK) Ltd | 7.16% | Reduce -2.0% | 3,109,525 | $352.6M |
| Bank of America Corp. | 0.03% | Add +11.7% | 3,057,744 | $346.7M |
| Deutsche Bank AG | 0.10% | Add +2.7% | 2,776,077 | $314.8M |
| Barclays PLC | 0.12% | Add +57.8% | 2,660,115 | $301.6M |
| Triata Capital Ltd | 35.15% | Add +0.5% | 2,557,700 | $290.0M |
| Perseverance Asset Management International | 32.60% | Add +47.2% | 1,962,092 | $222.5M |
| Dragoneer Investment Group, LLC | 4.54% | No change | 1,835,428 | $208.1M |
| Robeco Institutional Asset Management B.V. | 0.29% | Add +10.7% | 1,785,936 | $202.5M |
| Appaloosa | 2.94% | Reduce -1.4% | 1,775,000 | $201.3M |
| Prudential PLC | 1.59% | Add +12.5% | 1,751,095 | $198.6M |
| IDG China Venture Capital Fund IV Associates L.P. | 84.94% | Reduce -12.5% | 1,749,029 | $198.3M |
| Nuveen, LLC | 0.05% | Reduce -3.6% | 1,687,403 | $191.3M |
| Sumitomo Mitsui Trust Group, Inc. | 0.11% | Reduce -2.2% | 1,682,194 | $190.7M |
| Capital Today Evergreen Fund, L.P. | 85.65% | Reduce -34.5% | 1,634,077 | $185.3M |
| Swiss National Bank | 0.10% | Reduce -3.0% | 1,552,644 | $176.1M |
| Citigroup Inc. | 0.12% | Reduce -28.6% | 1,543,816 | $175.1M |
| Bank of New York Mellon Corp | 0.03% | Reduce -14.4% | 1,488,074 | $168.7M |
| National Bank of Canada | 0.17% | Add +135.9% | 1,428,593 | $162.0M |
| Acadian Asset Management LLC | 0.26% | Add +27.7% | 1,411,514 | $160.0M |
| Boundless Plain Holdings Ltd | 46.82% | — | 1,294,753 | $146.8M |
| Massachusetts Financial Services Co. | 0.05% | Add +1.2% | 1,259,912 | $142.9M |
| Charles Schwab Investment Management Inc. | 0.02% | Add +4.7% | 1,249,313 | $141.7M |
| Pictet Asset Management Holding SA | 0.14% | Reduce -2.5% | 1,231,832 | $139.7M |
| American Century Companies Inc. | 0.07% | Add +28.4% | 1,222,648 | $138.6M |
| California Public Employees Retirement System | 0.08% | Add +0.1% | 1,195,822 | $135.6M |
| Orbis Allan Gray Ltd | 0.56% | Reduce -83.2% | 1,168,327 | $132.5M |
| First Trust Advisors LP | 0.10% | Add +52.5% | 1,158,932 | $131.4M |
| Russell Investments Group, Ltd. | 0.13% | Add +30.1% | 1,074,635 | $122.0M |
| ProShare Advisors LLC | 0.21% | Add +41.5% | 1,056,004 | $119.7M |
| Nomura Asset Management International Inc. | 0.18% | — | 1,049,894 | $119.0M |
| GF Fund Management Co. LTD. | 1.98% | Add +28.5% | 1,019,069 | $115.6M |
| SRS Investment Management, LLC | 1.21% | Reduce -61.7% | 1,016,859 | $115.3M |
| Aberdeen Group plc | 0.18% | Reduce -17.4% | 1,013,878 | $115.0M |
| IvyRock Asset Management (HK) Ltd | 59.30% | Reduce -4.2% | 991,509 | $112.4M |
| Alliancebernstein L.P. | 0.03% | Reduce -6.6% | 927,794 | $105.2M |
| Walleye Trading LLC | 1.62% | New | 885,812 | $100.4M |
| Mitsubishi UFJ Asset Management Co., Ltd. | 0.07% | Add +5.3% | 860,912 | $99.7M |
| Green Court Capital Management Ltd | 38.25% | Reduce -19.2% | 856,958 | $99.5M |
| Evergreen Quality Fund GP, Ltd. | 1.93% | Add +7.3% | 863,016 | $97.9M |
| Anatole Investment Management Ltd | 15.83% | New | 837,433 | $95.0M |
| Wellington Management Group LLP | 0.02% | Reduce -9.4% | 810,863 | $91.9M |
| Franklin Resources Inc. | 0.02% | Add +17.8% | 802,538 | $91.0M |
| Lazard Asset Management LLC | 0.15% | Add +9.3% | 784,898 | $89.0M |
| Cederberg Capital Ltd | 27.83% | No change | 755,900 | $85.7M |
| LMR Partners LLP | 1.06% | Add +526.6% | 733,647 | $83.2M |
| DekaBank Deutsche Girozentrale | 0.14% | No change | 408,010 | $82.8M |
| Healthcare of Ontario Pension Plan Trust Fund | 0.14% | Add +36.4% | 710,731 | $80.6M |
| Royal London Asset Management Ltd. | 0.17% | Add +1.1% | 696,172 | $78.9M |
| Allianz Asset Management GmbH | 0.09% | Add +27.3% | 691,141 | $78.4M |
| Royal Bank of Canada | 0.01% | Reduce -24.1% | 672,008 | $76.2M |
| Susquehanna International Group, LLP | 0.10% | Reduce -79.4% | 666,594 | $75.6M |
| Barings LLC | 1.42% | Add +21.4% | 654,567 | $74.2M |
| Aviva PLC | 0.12% | Reduce -1.8% | 641,018 | $72.7M |
| Pinpoint Asset Management (Singapore) Pte. Ltd. | 14.79% | Add +1.1% | 625,807 | $71.0M |
| True Light Capital Pte. Ltd. | 30.82% | — | 602,262 | $68.3M |
| Brilliance Asset Management Ltd. | 26.49% | New | 595,174 | $67.5M |
| Polar Capital Holdings Plc | 0.30% | Add +3.9% | 577,391 | $65.5M |
| Fisher Asset Management | 0.02% | Reduce -0.5% | 573,184 | $65.0M |
| Allspring Global Investments Holdings, LLC | 0.10% | Add +4697.0% | 556,693 | $64.4M |
| Korea Investment CORP | 0.12% | Add +1.6% | 554,687 | $62.9M |
| CANADA LIFE ASSURANCE Co | 0.11% | Reduce -39.6% | 548,649 | $62.2M |
| Man Group plc | 0.12% | Add +3510.4% | 533,660 | $60.5M |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.09% | Reduce -6.3% | 526,998 | $59.8M |
"% of holder's portfolio" is PDD's weight in each manager's 13F, not the share of PDD Holdings Inc. the manager owns.