JD.COM INC JD
SPON ADS CL A · ADR · CUSIP 47215P106 · ISIN US47215P1066
Chinese e-commerce company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($46.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $41.02. Options: 50 managers hold calls ($2.0bn notional), 42 hold puts ($1.4bn).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 547 |
| Q4 2022 | 561 |
| Q1 2023 | 514 |
| Q2 2023 | 483 |
| Q3 2023 | 437 |
| Q4 2023 | 455 |
| Q1 2024 | 435 |
| Q2 2024 | 455 |
| Q3 2024 | 546 |
| Q4 2024 | 550 |
| Q1 2025 | 545 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 229 | 242 |
| Q3 2023 | 208 | 213 |
| Q4 2023 | 218 | 226 |
| Q1 2024 | 211 | 234 |
| Q2 2024 | 234 | 195 |
| Q3 2024 | 313 | 195 |
| Q4 2024 | 251 | 295 |
| Q1 2025 | 274 | 262 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $842.0m | $763.6m | 0.91 |
| Q3 2024 | $3.2bn | $1.5bn | 0.48 |
| Q4 2024 | $3.5bn | $1.6bn | 0.45 |
| Q1 2025 | $2.0bn | $1.4bn | 0.69 |
Biggest buyers
| FMR LLC | Added | +8.3m |
| VOYA INVESTMENT MANAGEMENT LLC | Added | +7.2m |
| HHLR ADVISORS, LTD. | Added | +3.1m |
| Bridgewater Associates, LP | New | +2.8m |
| MARSHALL WACE, LLP | Added | +2.2m |
| BANK OF AMERICA CORP /DE/ | Added | +1.9m |
| FEDERATED HERMES, INC. | Added | +1.7m |
| ANTIPODES PARTNERS Ltd | Added | +1.6m |
| Dodge & Cox | Added | +1.3m |
| GQG Partners LLC | Added | +1.1m |
Biggest sellers
| MORGAN STANLEY | Reduced | -7.6m |
| JANE STREET GROUP, LLC | Reduced | -3.3m |
| Aspex Management (HK) Ltd | Sold out | -2.7m |
| SOROS FUND MANAGEMENT LLC | Reduced | -2.6m |
| APPALOOSA LP | Reduced | -2.4m |
| TWO SIGMA INVESTMENTS, LP | Reduced | -2.3m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.7m |
| JPMORGAN CHASE & CO | Reduced | -1.6m |
| TWO SIGMA ADVISERS, LP | Sold out | -1.5m |
| UBS Group AG | Reduced | -1.5m |
Biggest calls
| Yiheng Capital Management, L.P. | Reduced | $517.8m12.6m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $408.5m9.9m shares |
| UBS Group AG | Added | $127.8m3.1m shares |
| SIMPLEX TRADING, LLC | Reduced | $118.5m2.9m shares |
| GROUP ONE TRADING LLC | Reduced | $97.2m2.4m shares |
| JANE STREET GROUP, LLC | Reduced | $92.6m2.3m shares |
| CITADEL ADVISORS LLC | Reduced | $80.1m1.9m shares |
| GOLDMAN SACHS GROUP INC | Reduced | $77.0m1.9m shares |
| MILLENNIUM MANAGEMENT LLC | Added | $70.6m1.7m shares |
| IMC-Chicago, LLC | Reduced | $66.4m1.6m shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $196.7m4.8m shares |
| JANE STREET GROUP, LLC | Reduced | $189.3m4.6m shares |
| CITADEL ADVISORS LLC | Added | $177.8m4.3m shares |
| D. E. Shaw & Co., Inc. | Reduced | $122.1m3.0m shares |
| UBS Group AG | Reduced | $109.3m2.7m shares |
| SIMPLEX TRADING, LLC | Reduced | $73.9m1.8m shares |
| IMC-Chicago, LLC | Reduced | $63.0m1.5m shares |
| GOLDMAN SACHS GROUP INC | Reduced | $52.0m1.3m shares |
| PEAK6 LLC | Reduced | $48.4m1.2m shares |
| Walleye Trading LLC | Reduced | $38.1m926.7k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Liu Qiangdong 13G · exempt (held before listing) filed 2025-05-13 | 12.5% |
Insider purchases and sales in Q1 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q1 2025.
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| FMR LLC 0.10% of their portfolio | 36.7m $1.5bn | Added +8.3m |
| Dodge & Cox 0.42% of their portfolio | 18.1m $742.7m | Added +1.3m |
| Invesco Ltd. 0.12% of their portfolio | 15.4m $634.0m | Added +295.9k |
| Newlands Management Operations LLC 3.26% of their portfolio | 11.7m $480.8m | Unchanged |
| VOYA INVESTMENT MANAGEMENT LLC 0.24% of their portfolio | 10.4m $426.1m | Added +7.2m |
| MORGAN STANLEY 0.03% of their portfolio | 8.8m $363.9m | Reduced -7.6m |
| APPALOOSA LP 5.95% of their portfolio | 8.1m $331.0m | Reduced -2.4m |
| CoreView Capital Management Ltd 25.91% of their portfolio | 6.3m $260.5m | Reduced -63.8k |
| LAZARD ASSET MANAGEMENT LLC 0.36% of their portfolio | 5.6m $232.2m | Reduced -727.8k |
| Discerene Group LP 23.87% of their portfolio | 5.6m $228.4m | Unchanged |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.21% of their portfolio | 4.9m $203.5m | Reduced -555.5k |
| HHLR ADVISORS, LTD. 5.59% of their portfolio | 4.8m $197.9m | Added +3.1m |
| Temasek Holdings (Private) Ltd 0.77% of their portfolio | 4.6m $190.2m | Unchanged |
| ALKEON CAPITAL MANAGEMENT LLC 1.10% of their portfolio | 4.5m $186.0m | Added +746.5k |
| FEDERATED HERMES, INC. 0.39% of their portfolio | 4.4m $179.9m | Added +1.7m |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 4.3m $177.8m | Added +1.9m |
| Fisher Asset Management, LLC 0.07% of their portfolio | 3.9m $161.1m | Reduced -146.2k |
| Robeco Institutional Asset Management B.V. 0.30% of their portfolio | 3.8m $156.3m | Added +488.0k |
| D. E. Shaw & Co., Inc. 0.19% of their portfolio | 3.8m $156.1m | Reduced -192.8k |
| MARSHALL WACE, LLP 0.20% of their portfolio | 3.6m $147.3m | Added +2.2m |
| North of South Capital LLP 15.22% of their portfolio | 3.3m $136.3m | Added +414.4k |
| UBS Group AG 0.03% of their portfolio | 3.3m $134.0m | Reduced -1.5m |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 3.2m $132.6m | Reduced -50.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 3.2m $132.0m | Added +777.9k |
| Man Group plc 0.39% of their portfolio | 3.2m $130.3m | Added +1.0m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.10% of their portfolio | 3.1m $129.3m | Added +986.1k |
| MILLENNIUM MANAGEMENT LLC 0.12% of their portfolio | 3.0m $124.8m | Reduced -1.7m |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 0.45% of their portfolio | 3.0m $124.1m | Reduced -226.9k |
| ANTIPODES PARTNERS Ltd 3.79% of their portfolio | 2.9m $121.0m | Added +1.6m |
| Qube Research & Technologies Ltd 0.18% of their portfolio | 2.8m $114.7m | Reduced -1.4m |
| Bridgewater Associates, LP 0.53% of their portfolio | 2.8m $114.6m | New |
| CITADEL ADVISORS LLC 0.10% of their portfolio | 2.6m $106.9m | Added +1.1m |
| Point72 Asset Management, L.P. 0.28% of their portfolio | 2.4m $100.4m | Reduced -1.3m |
| FIL Ltd 0.09% of their portfolio | 2.4m $97.7m | Reduced -912.0k |
| Balyasny Asset Management L.P. 0.22% of their portfolio | 2.2m $88.7m | Reduced -641.2k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.14% of their portfolio | 2.1m $87.2m | Added +1.1m |
| BlackRock, Inc. 0.00% of their portfolio | 2.1m $86.9m | Reduced -755.7k |
| MACQUARIE GROUP LTD 0.10% of their portfolio | 2.0m $82.7m | Reduced -57.4k |
| Polunin Capital Partners Ltd 13.36% of their portfolio | 2.0m $66.1m | Reduced -22.4k |
| Russell Investments Group, Ltd. 0.11% of their portfolio | 2.0m $82.1m | Added +81.3k |
| CAUSEWAY CAPITAL MANAGEMENT LLC 1.55% of their portfolio | 1.8m $73.9m | Added +286.1k |
| JANE STREET GROUP, LLC 0.13% of their portfolio | 1.7m $69.6m | Reduced -3.3m |
| MARTIN CURRIE LTD 2.36% of their portfolio | 1.4m $58.5m | Reduced -222.4k |
| Slate Path Capital LP 1.05% of their portfolio | 1.4m $58.2m | Reduced -1.3m |
| Clark Capital Management Group, Inc. 0.39% of their portfolio | 1.3m $54.0m | Reduced -160.6k |
| GQG Partners LLC 0.08% of their portfolio | 1.3m $51.8m | Added +1.1m |
| NORGES BANK 0.01% of their portfolio | 1.2m $51.1m | Reduced -780.3k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.2m $48.3m | Added +70.3k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.04% of their portfolio | 1.1m $45.3m | Added +912.3k |
| NATIONAL BANK OF CANADA /FI/ 0.05% of their portfolio | 1.1m $45.1m | Added +1.1m |
| Schonfeld Strategic Advisors LLC 0.28% of their portfolio | 1.0m $42.1m | Added +309.3k |
| Legal & General Group Plc 0.01% of their portfolio | 986.8k $40.6m | Reduced -6.7k |
| OAKTREE CAPITAL MANAGEMENT LP 0.80% of their portfolio | 960.8k $39.5m | Reduced -449.2k |
| Maple Rock Capital Partners Inc. 2.76% of their portfolio | 918.5k $37.8m | Reduced -303.1k |
| TODD ASSET MANAGEMENT LLC 0.85% of their portfolio | 880.3k $36.2m | Added +228.9k |
| BAMCO INC /NY/ 0.11% of their portfolio | 873.2k $35.9m | Reduced -356.9k |
| HighTower Advisors, LLC 0.05% of their portfolio | 856.9k $35.2m | Added +83.0k |
| Amundi 0.01% of their portfolio | 810.5k $32.3m | Reduced -23.9k |
| Handelsbanken Fonder AB 0.14% of their portfolio | 802.9k $33.0m | Added +166.4k |
| Ardmore Road Asset Management LP 3.37% of their portfolio | 800.0k $32.9m | Reduced -520.0k |
| Capital International Investors 0.01% of their portfolio | 793.4k $32.6m | Added +9.9k |
| NEUBERGER BERMAN GROUP LLC 0.03% of their portfolio | 787.2k $32.4m | Reduced -949.1k |
| Patient Capital Management, LLC 1.66% of their portfolio | 785.9k $32.3m | Added +685.9k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 776.9k $31.9m | Added +7.6k |
| M&G PLC 0.15% of their portfolio | 773.8k $31.7m | Reduced -44.7k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.11% of their portfolio | 731.6k $15.1m | New |
| Contrarius Group Holdings Ltd 1.98% of their portfolio | 705.9k $29.0m | Reduced -327.9k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 694.2k $28.5m | Added +656.2k |
| Alberta Investment Management Corp 0.19% of their portfolio | 692.8k $28.5m | Added +188.3k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.09% of their portfolio | 683.1k $28.1m | Reduced -164.1k |
| AXIOM INVESTORS LLC /DE 0.13% of their portfolio | 663.0k $27.3m | New |
| NORDEA INVESTMENT MANAGEMENT AB 0.03% of their portfolio | 610.7k $24.9m | Added +159.2k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 595.8k $24.5m | Reduced -110.1k |
| Alta Park Capital, LP 4.73% of their portfolio | 593.2k $24.4m | New |
| KBC Group NV 0.07% of their portfolio | 574.6k $23.6m | Added +218.6k |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.21% of their portfolio | 574.1k $23.6m | Added +178.6k |
| Yiheng Capital Management, L.P. 8.15% of their portfolio | 564.1k $23.2m | Reduced -949.1k |
| Perpetual Ltd 0.28% of their portfolio | 559.3k $23.0m | Reduced -6.1k |
| CREDIT AGRICOLE S A 0.08% of their portfolio | 532.3k $21.9m | Added +458.2k |
| CORTLAND ASSOCIATES INC/MO 2.62% of their portfolio | 529.7k $21.8m | Added +201.1k |
| AXA S.A. 0.07% of their portfolio | 526.0k $21.6m | Added +240.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 505.2k $20.8m | Reduced -1.6m |
| Warther Private Wealth, LLC 6.42% of their portfolio | 468.9k $19.3m | Added +92.8k |
| Carmignac Gestion 0.31% of their portfolio | 463.4k $19.1m | Added +8.2k |
| NFJ INVESTMENT GROUP, LLC 0.62% of their portfolio | 451.9k $18.6m | Reduced -67.0k |
| VAN ECK ASSOCIATES CORP 0.02% of their portfolio | 451.2k $18.6m | Added +57.6k |
| VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio | 448.9k $18.5m | Added +424.6k |
| MACKENZIE FINANCIAL CORP 0.03% of their portfolio | 429.6k $17.7m | Added +401.3k |
| PLATINUM INVESTMENT MANAGEMENT LTD 1.02% of their portfolio | 429.1k $17.6m | Reduced -28.8k |
| Arvin Capital Management LP 6.31% of their portfolio | 416.9k $17.1m | Added +35.2k |
| Mitsubishi UFJ Trust & Banking Corp 0.04% of their portfolio | 400.6k $16.5m | Reduced -654.9k |
| Long Focus Capital Management, LLC 1.11% of their portfolio | 398.4k $16.4m | Added +112.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 395.5k $16.3m | Reduced -9.2k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 361.6k $14.9m | Reduced -4.4k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.12% of their portfolio | 359.6k $14.8m | Added +65.9k |
| ACADIAN ASSET MANAGEMENT LLC 0.04% of their portfolio | 350.4k $14.4m | Added +315.3k |
| Beck Bode, LLC 2.67% of their portfolio | 347.8k $14.3m | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 346.3k $14.2m | Added +15.0k |
| Davis Selected Advisers 0.08% of their portfolio | 345.5k $14.2m | Reduced -10.4k |
| TIGER GLOBAL MANAGEMENT LLC 0.05% of their portfolio | 344.3k $14.2m | Unchanged |