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PDD in the 13F filings

PDD Holdings Inc · CUSIP 722304102

Sector · Business and payment servicesTheme · Consumer and digital platforms· L3VLUP-defined
Quarter
Q3 2026 · early filersQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023
Quarter end
31 Dec 2023
the date the book describes
Filed
5 Nov 2026
latest of these filings; the earliest 26 Jan 2024
Managers listing it
32
at least, of 95 tracked, among listed positions
Comparable managers
93
filed both Q3 2023 and Q4 2023; 21 listed it in both
Shares listed
93,783,250
combined, among listed positions
Reported value
$13.7bn
combined, at the quarter end

Among the 93 comparable managers: 23 buyers (opened or added shares) and 9 sellers (trimmed or exited), at least, among listed positions. Their net change in shares is not known from listed positions, because at least one of them lists it in only one of the two quarters.

Managers listing PDD in Q4 2023

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q3 2023, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

32 of 32 holders

ActionFiling
Baillie Gifford & Co37,960,238$5.6bn4.40%Added+2,292,06826 Jan 2024 (the filing on sec.gov)
Fidelity (FMR LLC)18,094,445$2.6bn0.20%Added+459,3415 Nov 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc4,917,070$719m0.10%Added+900,39016 Feb 2024 (the filing on sec.gov)
Arrowstreet Capital LP4,851,225$710m0.74%Added+2,214,95514 Feb 2024 (the filing on sec.gov)
Invesco Ltd4,659,986$682m0.16%Trimmed-2,689,44413 Feb 2024 (the filing on sec.gov)
Jane Street Group LLC2,712,623$397m0.10%Added+1,989,37815 Feb 2024 (the filing on sec.gov)
Marshall Wace LLP2,700,506$395m0.67%Added+2,223,14014 Feb 2024 (the filing on sec.gov)
Bridgewater Associates LP2,436,655$357m2.00%Trimmed-272,26614 Feb 2024 (the filing on sec.gov)
Dragoneer Investment Group LLC2,097,452$307m6.66%Trimmed-937,96614 Feb 2024 (the filing on sec.gov)
Acadian Asset Management LLC1,958,800$287m1.11%Added+1,257,57113 Feb 2024 (the filing on sec.gov)
Altimeter Capital Management LP1,882,770$275m4.57%Added+1,236,49014 Feb 2024 (the filing on sec.gov)
Whale Rock Capital Management LLC1,719,272$252m4.50%Added+48,37214 Feb 2024 (the filing on sec.gov)
D. E. Shaw & Co.1,149,408$168m0.15%Addedn.a.14 Feb 2024 (the filing on sec.gov)
AQR Capital Management LLC777,678$113m0.21%Trimmed-30,91114 Feb 2024 (the filing on sec.gov)
Appaloosa LP775,000$113m1.96%Trimmed-625,00014 Feb 2024 (the filing on sec.gov)
Millennium Management LLC771,067$113munder 0.1%Newnew14 Feb 2024 (the filing on sec.gov)
Voloridge Investment Management LLC740,657$108m0.43%Trimmed-167,17714 Feb 2024 (the filing on sec.gov)
Coatue Management LLC738,420$108m0.45%Trimmed-137,79014 Feb 2024 (the filing on sec.gov)
Tiger Global Management LLC625,300$91m0.65%Trimmed-743,10014 Feb 2024 (the filing on sec.gov)
AllianceBernstein LP553,626$81munder 0.1%Addedn.a.14 Feb 2024 (the filing on sec.gov)
Squarepoint Ops LLC481,256$70m0.13%Addedn.a.14 Feb 2024 (the filing on sec.gov)
Man Group PLC409,827$60m0.17%Added+23,54114 Feb 2024 (the filing on sec.gov)
Point72 Asset Management LP289,000$42m0.10%Newnew14 Feb 2024 (the filing on sec.gov)
Moore Capital Management LP107,715$16m0.27%Trimmed-155,09014 Feb 2024 (the filing on sec.gov)
Light Street Capital Management LLC87,000$13m3.81%Added+48,76514 Feb 2024 (the filing on sec.gov)
Page 1 of 2

What managers have written about PDD

Shown because the letter names the company. A letter is commentary; it is not a record of why a position changed.

By writers not tracked in the 13F universe

Their positions are not shown: no 13F filings of theirs are tracked here.

Every letter beside its positions →

Largest increases and reductions, by shares

Q3 2023 to Q4 2023, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

New (5)

Exited (0)

No exit shown by a manager’s own filing.

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
30 in Q3 2024 to 8 in Q2 2026

Tracked managers listing it, at least.

01020304020192020202120222023202420252026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
PDD by quarter
QuarterHoldersReported valueBuyersSellers
Q3 201811$514mn.a.n.a.
Q4 20188$175mn.a.n.a.
Q1 20197$157mn.a.n.a.
Q2 20198$272mn.a.n.a.
Q3 201913$1.9bnn.a.n.a.
Q4 20199$2.3bnn.a.n.a.
Q1 202014$2.7bnn.a.n.a.
Q2 202015$6.4bnn.a.n.a.
Q3 202013$5.6bnn.a.n.a.
Q4 202023$15.9bnn.a.n.a.
Q1 202122$10.6bnn.a.n.a.
Q2 202118$10.1bnn.a.n.a.
Q3 202117$8.3bnn.a.n.a.
Q4 202117$5.6bnn.a.n.a.
Q1 202216$3.4bnn.a.n.a.
Q2 202221$4.4bnn.a.n.a.
Q3 202223$5.1bnn.a.n.a.
Q4 202226$6.0bnn.a.n.a.
Q1 202323$4.5bnn.a.n.a.
Q2 202322$4.9bnn.a.n.a.
Q3 202322$8.2bnn.a.n.a.
Q4 202332$13.7bn239
Q1 202425$10.2bn1515
Q2 202432$13.6bn2310
Q3 202430$12.8bn2013
Q4 202424$9.5bn1415
Q1 202522$12.3bn1313
Q2 202516$7.4bn713
Q3 202523$10.8bn176
Q4 202516$9.9bn1222
Q1 202614$7.2bn1617
Q2 20268$4.8bn1618

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

PDD and GOOGL →PDD and AMZN →PDD and GOOG →Choose a stock to compare with PDD →

How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own PDD, latest filings →Back to the 13F Explorer →