Who owns PDD Holdings (PDD)
Which tracked institutional funds hold PDD, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See PDD company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on PDD is one-sided between 2026-Q1 and 2026-Q2: 80 added or opened and 347 trimmed or exited — on balance reducing.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
PDD’s largest tracked holder by dollar value, BlackRock, Inc., sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.1% of theirs — a 0.1pp gap the other way — the median holder sizes PDD more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in PDD divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 482 tracked filers holding PDD, 202 increased or opened the position and 366 reduced or closed it; over the same quarter, open-market insider Form 4s were net sales.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in PDD between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 27
- Holocene Advisors, LP$96M
- VOLORIDGE INVESTMENT MANAGEMENT, LLC$70M
- KEYWISE CAPITAL MANAGEMENT (HK) Ltd$40M
- AI-Squared Management Ltd$25M
- Ranmore Fund Management Ltd$23M
- ABS Investment Management LLC$14M
Full exits 93
- SG Americas Securities, LLC$644M
- Brevan Howard Capital Management LP$295M
- Assenagon Asset Management S.A.$224M
- RENAISSANCE TECHNOLOGIES LLC$114M
- Point72 Asset Management, L.P.$101M
- Appaloosa LP$92M
Largest adds
- Himalaya Capital Management LLC$350M
- JANE STREET GROUP, LLC$348M
- Invesco Ltd.$263M
- Orbis Allan Gray Ltd$230M
- UBS Group AG$174M
- Capula Management Ltd$144M
Largest trims
- BlackRock, Inc.$922M
- BAILLIE GIFFORD & CO$868M
- VANGUARD CAPITAL MANAGEMENT LLC$585M
- FMR LLC$522M
- STATE STREET CORP$444M
- HHLR ADVISORS, LTD.$387M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. trimmed | 31,969,893 | $2.4B | 7.9% | 2026-Q2 |
| BAILLIE GIFFORD & CO trimmed | 26,594,535 | $2.0B | 6.6% | 2026-Q2 |
| H&H International Investment, LLC added | 25,022,094 | $1.9B | 6.2% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 24,646,256 | $1.9B | 6.1% | 2026-Q2 |
| Invesco Ltd. added | 22,228,242 | $1.7B | 5.5% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 14,006,939 | $1.1B | 3.5% | 2026-Q2 |
| HSG Holding Ltd | 11,348,426 | $866M | 2.8% | 2026-Q2 |
| Himalaya Capital Management LLC added | 10,761,119 | $821M | 2.7% | 2026-Q2 |
| STATE STREET CORP trimmed | 10,303,417 | $786M | 2.6% | 2026-Q2 |
| NetEase, Inc. added | 9,566,480 | $730M | 2.4% | 2026-Q2 |
| First Beijing Investment Ltd added | 9,377,416 | $715M | 2.3% | 2026-Q2 |
| NORGES BANK added | 9,338,120 | $712M | 2.3% | 2026-Q2 |
| SC US (TTGP), LTD. | 8,841,576 | $674M | 2.2% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 8,726,228 | $666M | 2.2% | 2026-Q2 |
| Sanders Capital, LLC trimmed | 7,936,717 | $605M | 2.0% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 6,658,003 | $508M | 1.7% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC trimmed | 6,639,259 | $504M | 1.6% | 2026-Q2 |
| FIL Ltd trimmed | 6,292,692 | $480M | 1.6% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 6,017,649 | $461M | 1.5% | 2026-Q2 |
| Krane Funds Advisors LLC added | 5,780,324 | $441M | 1.4% | 2026-Q2 |
| UBS Group AG added | 5,635,629 | $430M | 1.4% | 2026-Q2 |
| MORGAN STANLEY trimmed | 5,483,249 | $418M | 1.4% | 2026-Q2 |
| Orbis Allan Gray Ltd added | 5,353,562 | $408M | 1.3% | 2026-Q2 |
| JANE STREET GROUP, LLC added | 4,794,185 | $366M | 1.2% | 2026-Q2 |
| Greenwoods Asset Management Hong Kong Ltd. trimmed | 4,785,666 | $365M | 1.2% | 2026-Q2 |
| Mitsubishi UFJ Trust & Banking Corp added | 4,760,515 | $363M | 1.2% | 2026-Q2 |
| E Fund Management Co., Ltd. added | 4,715,949 | $360M | 1.2% | 2026-Q2 |
| DODGE & COX added | 4,550,000 | $347M | 1.1% | 2026-Q2 |
| Legal & General Group Plc trimmed | 3,997,575 | $305M | 1.0% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS trimmed | 3,805,975 | $290M | 0.9% | 2026-Q2 |
| Temasek Holdings (Private) Ltd trimmed | 3,622,972 | $276M | 0.9% | 2026-Q2 |
| HSBC HOLDINGS PLC trimmed | 3,266,047 | $249M | 0.8% | 2026-Q2 |
| Triata Capital Ltd added | 3,211,624 | $245M | 0.8% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP trimmed | 3,174,566 | $242M | 0.8% | 2026-Q2 |
| Capital International Investors added | 3,135,019 | $239M | 0.8% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ added | 3,120,966 | $238M | 0.8% | 2026-Q2 |
| NATIONAL BANK OF CANADA /FI/ added | 2,873,404 | $219M | 0.7% | 2026-Q2 |
| CITIGROUP INC added | 2,697,035 | $206M | 0.7% | 2026-Q2 |
| NORTHERN TRUST CORP trimmed | 2,683,483 | $205M | 0.7% | 2026-Q2 |
| AustralianSuper Pty Ltd added | 2,627,834 | $200M | 0.7% | 2026-Q2 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND added | 2,485,298 | $190M | 0.6% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 2,353,277 | $180M | 0.6% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd trimmed | 2,172,283 | $166M | 0.5% | 2026-Q2 |
| Perseverance Asset Management International added | 2,163,479 | $165M | 0.5% | 2026-Q2 |
| Capula Management Ltd added | 1,914,949 | $146M | 0.5% | 2026-Q2 |
| BARCLAYS PLC trimmed | 1,762,588 | $134M | 0.4% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC trimmed | 1,703,940 | $130M | 0.4% | 2026-Q2 |
| Alpine Investment Management Ltd added | 1,661,600 | $127M | 0.4% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 1,652,472 | $126M | 0.4% | 2026-Q2 |
| BRILLIANCE ASSET MANAGEMENT LTD added | 1,562,304 | $119M | 0.4% | 2026-Q2 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ trimmed | 1,553,647 | $116M | 0.4% | 2026-Q2 |
| FMR LLC trimmed | 1,521,767 | $116M | 0.4% | 2026-Q2 |
| IDG China Venture Capital Fund IV Associates L.P. trimmed | 1,513,394 | $115M | 0.4% | 2026-Q2 |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. added | 1,475,390 | $113M | 0.4% | 2026-Q2 |
| PRUDENTIAL PLC trimmed | 1,427,305 | $109M | 0.4% | 2026-Q2 |
| Sumitomo Mitsui Trust Group, Inc. trimmed | 1,389,751 | $106M | 0.3% | 2026-Q2 |
| Capital Today Evergreen Fund, L.P. | 1,385,004 | $106M | 0.3% | 2026-Q2 |
| SCHRODER INVESTMENT MANAGEMENT GROUP trimmed | 1,341,412 | $103M | 0.3% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 1,322,726 | $101M | 0.3% | 2026-Q2 |
| Connor, Clark & Lunn Investment Management Ltd. added | 1,315,668 | $100M | 0.3% | 2026-Q2 |
| Boundless Plain Holdings Ltd | 1,294,753 | $99M | 0.3% | 2026-Q2 |
| Bank of New York Mellon Corp trimmed | 1,281,365 | $98M | 0.3% | 2026-Q2 |
| FIRST TRUST ADVISORS LP added | 1,276,749 | $97M | 0.3% | 2026-Q2 |
| Holocene Advisors, LP added | 1,260,000 | $96M | 0.3% | 2026-Q2 |
| IvyRock Asset Management (HK) Ltd added | 1,174,549 | $90M | 0.3% | 2026-Q2 |
| Swiss National Bank trimmed | 1,094,644 | $83M | 0.3% | 2026-Q2 |
| California Public Employees Retirement System trimmed | 1,015,932 | $77M | 0.3% | 2026-Q2 |
| Allspring Global Investments Holdings, LLC added | 921,596 | $76M | 0.2% | 2026-Q2 |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC new | 918,040 | $70M | 0.2% | 2026-Q2 |
| GF FUND MANAGEMENT CO. LTD. added | 907,898 | $69M | 0.2% | 2026-Q2 |
| Nuveen, LLC trimmed | 878,598 | $67M | 0.2% | 2026-Q2 |
| Green Court Capital Management Ltd added | 875,658 | $67M | 0.2% | 2026-Q2 |
| Mitsubishi UFJ Asset Management Co., Ltd. trimmed | 842,296 | $64M | 0.2% | 2026-Q2 |
| Robeco Institutional Asset Management B.V. trimmed | 796,468 | $61M | 0.2% | 2026-Q2 |
| MARSHALL WACE, LLP added | 759,453 | $58M | 0.2% | 2026-Q2 |
| Pictet Asset Management Holding SA trimmed | 682,209 | $52M | 0.2% | 2026-Q2 |
| Aberdeen Group plc trimmed | 679,955 | $52M | 0.2% | 2026-Q2 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 654,008 | $50M | 0.2% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ trimmed | 647,140 | $49M | 0.2% | 2026-Q2 |
| ProShare Advisors LLC trimmed | 642,198 | $49M | 0.2% | 2026-Q2 |
| ROYAL LONDON ASSET MANAGEMENT LTD trimmed | 630,472 | $48M | 0.2% | 2026-Q2 |
| Polar Capital Holdings Plc trimmed | 592,084 | $45M | 0.1% | 2026-Q2 |
| FRANKLIN RESOURCES INC trimmed | 590,786 | $45M | 0.1% | 2026-Q2 |
| True Light Capital Pte. Ltd. trimmed | 589,064 | $45M | 0.1% | 2026-Q2 |
| BARINGS LLC trimmed | 587,937 | $45M | 0.1% | 2026-Q2 |
| USS Investment Management Ltd trimmed | 581,284 | $44M | 0.1% | 2026-Q2 |
| Russell Investments Group, Ltd. trimmed | 574,888 | $44M | 0.1% | 2026-Q2 |
| Fisher Asset Management, LLC trimmed | 560,008 | $43M | 0.1% | 2026-Q2 |
| Walleye Trading LLC trimmed | 543,714 | $41M | 0.1% | 2026-Q2 |
| CITADEL ADVISORS LLC trimmed | 536,454 | $41M | 0.1% | 2026-Q2 |
| Marex Group Ltd added | 535,181 | $41M | 0.1% | 2026-Q2 |
| KEYWISE CAPITAL MANAGEMENT (HK) Ltd added | 528,100 | $40M | 0.1% | 2026-Q2 |
| AVIVA PLC trimmed | 504,886 | $39M | 0.1% | 2026-Q2 |
| HHLR ADVISORS, LTD. trimmed | 500,000 | $38M | 0.1% | 2026-Q2 |
| Franchise GP Ltd | 497,860 | $38M | 0.1% | 2026-Q2 |
| Kora Management LP | 490,650 | $37M | 0.1% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP added | 476,800 | $36M | 0.1% | 2026-Q2 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed | 464,684 | $35M | 0.1% | 2026-Q2 |
| Korea Investment CORP trimmed | 455,887 | $35M | 0.1% | 2026-Q2 |
| Allianz Asset Management GmbH added | 365,533 | $37M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.