KE HLDGS INC BEKE
SPONSORED ADS · ADR · CUSIP 482497104 · ISIN US4824971042
Company operating an integrated online and offline platform for housing transactions and services in China
* 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 ($12.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $19.90. Options: 25 managers hold calls ($549.2m notional), 26 hold puts ($301.5m).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 231 |
| Q4 2022 | 252 |
| Q1 2023 | 252 |
| Q2 2023 | 250 |
| Q3 2023 | 260 |
| Q4 2023 | 278 |
| Q1 2024 | 270 |
| Q2 2024 | 276 |
| Q3 2024 | 289 |
| Q4 2024 | 303 |
| Q1 2025 | 308 |
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 | 132 | 126 |
| Q3 2023 | 143 | 125 |
| Q4 2023 | 139 | 130 |
| Q1 2024 | 122 | 154 |
| Q2 2024 | 151 | 132 |
| Q3 2024 | 133 | 150 |
| Q4 2024 | 159 | 147 |
| Q1 2025 | 170 | 148 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $263.7m | $117.2m | 0.44 |
| Q3 2024 | $584.0m | $158.0m | 0.27 |
| Q4 2024 | $552.3m | $334.8m | 0.61 |
| Q1 2025 | $549.2m | $301.5m | 0.55 |
Biggest buyers
| Capital Research Global Investors | New | +18.2m |
| Mirae Asset Global Investments Co., Ltd. | Added | +7.8m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +5.5m |
| Greenwoods Asset Management Hong Kong Ltd. | Added | +4.2m |
| NATIONAL BANK OF CANADA /FI/ | New | +2.7m |
| AXIOM INVESTORS LLC /DE | New | +2.5m |
| TT International Asset Management LTD | Added | +2.3m |
| Krane Funds Advisors LLC | Added | +1.7m |
| BAMCO INC /NY/ | New | +1.5m |
| Pinpoint Asset Management Ltd | Added | +1.5m |
Biggest sellers
| CANADA PENSION PLAN INVESTMENT BOARD | Reduced | -10.9m |
| MORGAN STANLEY | Reduced | -4.1m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -3.8m |
| Ninety One UK Ltd | Sold out | -3.6m |
| Assenagon Asset Management S.A. | Reduced | -3.2m |
| BlackRock, Inc. | Reduced | -3.1m |
| Turiya Advisors Asia Ltd | Sold out | -2.9m |
| MARSHALL WACE, LLP | Reduced | -2.9m |
| FMR LLC | Reduced | -2.5m |
| Cederberg Capital Ltd | Sold out | -2.4m |
Biggest calls
| JANE STREET GROUP, LLC | Added | $238.9m11.9m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $51.2m2.6m shares |
| PEAK6 LLC | Added | $48.5m2.4m shares |
| UBS Group AG | Added | $36.2m1.8m shares |
| Parallax Volatility Advisers, L.P. | Reduced | $31.1m1.5m shares |
| Walleye Trading LLC | Added | $25.0m1.2m shares |
| GROUP ONE TRADING LLC | Added | $21.3m1.1m shares |
| CITADEL ADVISORS LLC | Added | $21.2m1.1m shares |
| GOLDMAN SACHS GROUP INC | Added | $15.6m774.3k shares |
| SIMPLEX TRADING, LLC | Reduced | $13.0m644.9k shares |
Biggest puts
| GOLDMAN SACHS GROUP INC | Reduced | $80.4m4.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $59.7m3.0m shares |
| JANE STREET GROUP, LLC | Added | $39.5m2.0m shares |
| CITADEL ADVISORS LLC | Added | $22.0m1.1m shares |
| SIMPLEX TRADING, LLC | Added | $19.5m973.0k shares |
| PEAK6 LLC | Added | $16.2m806.8k shares |
| GROUP ONE TRADING LLC | Added | $11.3m561.9k shares |
| IMC-Chicago, LLC | Added | $8.6m429.2k shares |
| Walleye Trading LLC | Reduced | $7.8m388.9k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $6.1m303.9k 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 |
|---|---|
Baihui Partners L.P.
13D · may seek influence
filed 2026-08-18
Stated purposeNo change from the Statement. Full filing |
24.7% |
Grain Bud Holding Ltd
13D · may seek influence
filed 2026-08-18
Stated purposeNo change from the Statement. The securities beneficially owned by the Reporting Persons did no change in the past 60 days, and this Amendment is being filed to reflect a change in the beneficial ownership percentage of the Reporting Persons due to a change in the number of ordinary shares issued of the Issuer, following the completion of the Issuer's share repurchase and cancellation. Full filing |
24.7% |
Tencent Holdings Ltd
13D · may seek influence
-0.9 pts · filed 2025-09-30
Stated purposeItem 4 of the Schedule D is hereby amended and supplemented by adding the following before the sub-title named "General" in this Item: On February 10, 2025, Parallel Stellar surrendered 2 Class A Ordinary Shares of the Issuer. On September 30, 2025, Sunshine Peak, TPP I SPV and TPP II SPV, entities controlled by Tencent Plus Partners ("TPP"), executed a distribution plan of Class A Ordinary Shares they held through on-market transactions in the amount of 13,323,284 ADSs representing 39,969,852 Class A Ordinary Shares of the Issuer, and distributing the proceeds to their limited partners. TPP is under Tencent and facilitates collaboration with external capital partners by investing with Tencent. Tencent's interest (excluding TPP) in BEKE remains unchanged. Full filing |
8.7% |
Fell to 5% or below in the last year: Ever Orient International Ltd (4.7%, 2026-09-29)
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 |
|---|---|---|
| PRICE T ROWE ASSOCIATES INC /MD/ 0.09% of their portfolio | 36.7m $736.9m | Reduced -3.8m |
| BlackRock, Inc. 0.01% of their portfolio | 34.9m $700.2m | Reduced -3.1m |
| FIL Ltd 0.51% of their portfolio | 26.6m $534.9m | Added +777.5k |
| VANGUARD GROUP INC 0.01% of their portfolio | 25.3m $508.9m | Added +919.4k |
| Capital Research Global Investors 0.08% of their portfolio | 18.2m $365.1m | New |
| Krane Funds Advisors LLC 8.61% of their portfolio | 14.9m $299.7m | Added +1.7m |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 13.6m $272.8m | Reduced -2.2m |
| HHLR ADVISORS, LTD. 6.80% of their portfolio | 12.0m $240.5m | Added +712.1k |
| MORGAN STANLEY 0.02% of their portfolio | 11.0m $221.1m | Reduced -4.1m |
| WELLINGTON MANAGEMENT GROUP LLP 0.04% of their portfolio | 11.0m $220.2m | Reduced -1.1m |
| STATE STREET CORP 0.01% of their portfolio | 10.9m $219.5m | Added +363.6k |
| GOLDMAN SACHS GROUP INC 0.04% of their portfolio | 9.7m $194.4m | Added +535.0k |
| M&G PLC 0.86% of their portfolio | 9.0m $180.4m | Reduced -1.9k |
| Capital World Investors 0.03% of their portfolio | 8.8m $176.4m | Reduced -2.3m |
| Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio | 8.0m $1.1m | Added +7.8m |
| RENAISSANCE TECHNOLOGIES LLC 0.24% of their portfolio | 7.9m $158.9m | Reduced -247.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.04% of their portfolio | 7.3m $147.1m | Added +5.5m |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.15% of their portfolio | 7.1m $145.7m | Reduced -1.8m |
| NORGES BANK 0.02% of their portfolio | 6.5m $130.4m | Reduced -574.8k |
| Aspex Management (HK) Ltd 2.66% of their portfolio | 5.1m $103.0m | Reduced -1.4m |
| H Capital V GP, L.P. 100.00% of their portfolio | 4.9m $99.4m | Unchanged |
| Greenwoods Asset Management Hong Kong Ltd. 2.97% of their portfolio | 4.8m $95.9m | Added +4.2m |
| Legal & General Group Plc 0.02% of their portfolio | 4.4m $89.3m | Added +133.0k |
| ANTIPODES PARTNERS Ltd 2.78% of their portfolio | 4.4m $88.9m | Reduced -688.8k |
| ALKEON CAPITAL MANAGEMENT LLC 0.51% of their portfolio | 4.3m $85.8m | Reduced -753.3k |
| Artisan Partners Limited Partnership 0.14% of their portfolio | 4.2m $84.6m | Added +707.1k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 4.2m $83.0m | Added +310.8k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 4.1m $83.0m | Added +432.0k |
| Nuveen, LLC 0.02% of their portfolio | 4.1m $81.5m | First filing |
| Perseverance Asset Management International 10.44% of their portfolio | 4.0m $79.9m | Reduced -648.3k |
| CoreView Capital Management Ltd 7.34% of their portfolio | 3.7m $73.8m | Reduced -140.6k |
| FMR LLC 0.00% of their portfolio | 3.5m $70.7m | Reduced -2.5m |
| E Fund Management Co., Ltd. 3.36% of their portfolio | 3.5m $70.4m | Reduced -788.5k |
| HSBC HOLDINGS PLC 0.05% of their portfolio | 3.4m $69.0m | Reduced -1.5k |
| UBS Group AG 0.01% of their portfolio | 3.1m $61.7m | Reduced -676.7k |
| FEDERATED HERMES, INC. 0.13% of their portfolio | 2.9m $58.3m | Added +392.3k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 2.8m $56.6m | Added +1.2m |
| JENNISON ASSOCIATES LLC 0.04% of their portfolio | 2.8m $55.4m | Reduced -6.1k |
| NATIONAL BANK OF CANADA /FI/ 0.06% of their portfolio | 2.7m $54.8m | New |
| MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio | 2.7m $54.6m | Added +1.4m |
| Baird Financial Group, Inc. 0.10% of their portfolio | 2.7m $53.3m | Reduced -145.5k |
| Driehaus Capital Management LLC 0.49% of their portfolio | 2.5m $51.2m | Reduced -1.0m |
| AXIOM INVESTORS LLC /DE 0.25% of their portfolio | 2.5m $51.1m | New |
| Slate Path Capital LP 0.92% of their portfolio | 2.5m $51.0m | Reduced -2.4m |
| TT International Asset Management LTD 6.96% of their portfolio | 2.3m $46.6m | Added +2.3m |
| Qube Research & Technologies Ltd 0.07% of their portfolio | 2.3m $46.2m | Reduced -329.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 2.3m $45.3m | First filing |
| SC US (TTGP), LTD. 0.42% of their portfolio | 2.2m $44.1m | Unchanged |
| Pinpoint Asset Management Ltd 7.17% of their portfolio | 2.1m $41.3m | Added +1.5m |
| HSG Holding Ltd 6.32% of their portfolio | 1.9m $107.6m | Unchanged |
| Man Group plc 0.12% of their portfolio | 1.9m $38.8m | Added +477.8k |
| APPALOOSA LP 0.69% of their portfolio | 1.9m $38.2m | Reduced -674.1k |
| Davis Selected Advisers 0.22% of their portfolio | 1.9m $37.4m | Reduced -1.8m |
| MARSHALL WACE, LLP 0.05% of their portfolio | 1.8m $36.0m | Reduced -2.9m |
| Triata Capital Ltd 8.12% of their portfolio | 1.8m $35.9m | Added +149.9k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 1.8m $35.8m | Added +168.3k |
| Sumitomo Mitsui Trust Group, Inc. 0.02% of their portfolio | 1.6m $31.9m | Added +135.7k |
| Swiss National Bank 0.02% of their portfolio | 1.6m $31.8m | Added +131.5k |
| BAMCO INC /NY/ 0.09% of their portfolio | 1.5m $31.1m | New |
| Russell Investments Group, Ltd. 0.04% of their portfolio | 1.5m $29.6m | Added +1.0m |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.08% of their portfolio | 1.4m $28.7m | Added +243.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio | 1.4m $27.9m | Added +1.2m |
| APG Asset Management N.V. 0.08% of their portfolio | 1.4m $25.6m | Added +19.6k |
| GF FUND MANAGEMENT CO. LTD. 0.62% of their portfolio | 1.3m $26.5m | Reduced -714.0k |
| Robeco Institutional Asset Management B.V. 0.05% of their portfolio | 1.3m $26.0m | Added +19.1k |
| UG Investment Advisers Ltd. 7.09% of their portfolio | 1.3m $25.9m | Added +197.8k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.3m $25.8m | Added +205.2k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 1.3m $25.6m | Reduced -1.5m |
| BAILLIE GIFFORD & CO 0.02% of their portfolio | 1.3m $25.4m | Reduced -50.7k |
| OAKTREE CAPITAL MANAGEMENT LP 0.51% of their portfolio | 1.3m $25.2m | New |
| LORD, ABBETT & CO. LLC 0.09% of their portfolio | 1.2m $24.1m | New |
| XY Capital Ltd 15.32% of their portfolio | 1.2m $23.3m | Added +1.0m |
| Pictet Asset Management Holding SA 0.03% of their portfolio | 1.2m $23.2m | Reduced -202.6k |
| BARINGS LLC 0.58% of their portfolio | 1.2m $23.1m | Reduced -86.1k |
| BARCLAYS PLC 0.01% of their portfolio | 1.1m $22.8m | Reduced -243.5k |
| CITIGROUP INC 0.02% of their portfolio | 1.1m $21.8m | Reduced -747.7k |
| Vontobel Holding Ltd. 0.08% of their portfolio | 1.1m $21.1m | Added +105.6k |
| MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC 4.30% of their portfolio | 1.0m $20.8m | Added +81.0k |
| Allianz Asset Management GmbH 0.03% of their portfolio | 1.0m $20.6m | Reduced -852.6k |
| AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 1.0m $20.5m | Reduced -12.9k |
| Headwater Capital Co Ltd 4.57% of their portfolio | 1.0m $20.1m | Added +400.0k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 961.5k $19.3m | Reduced -69.1k |
| C WorldWide Group Holding A/S 0.24% of their portfolio | 957.8k $19.2m | Reduced -11.8k |
| LAZARD ASSET MANAGEMENT LLC 0.03% of their portfolio | 935.1k $18.8m | Reduced -65.5k |
| Alberta Investment Management Corp 0.13% of their portfolio | 934.0k $18.8m | Reduced -96.8k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 933.6k $18.8m | Reduced -399.8k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 905.3k $18.2m | Added +447.2k |
| Bridgewater Associates, LP 0.08% of their portfolio | 881.2k $17.7m | Added +257.7k |
| California Public Employees Retirement System 0.01% of their portfolio | 868.8k $17.5m | Added +2.6k |
| CANADA LIFE ASSURANCE Co 0.03% of their portfolio | 838.7k $16.9m | Added +83.7k |
| Invesco Ltd. 0.00% of their portfolio | 813.2k $16.3m | Added +261.3k |
| SYLEBRA CAPITAL LLC 0.81% of their portfolio | 802.1k $16.1m | Reduced -326.4k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 741.5k $14.9m | Added +87.7k |
| Polymer Capital Management (HK) LTD 2.43% of their portfolio | 696.0k $14.0m | Added +131.2k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.03% of their portfolio | 687.0k $13.8m | Added +105.7k |
| NOMURA ASSET MANAGEMENT CO LTD 0.04% of their portfolio | 654.8k $13.2m | Added +372.0k |
| Korea Investment CORP 0.03% of their portfolio | 649.4k $13.0m | Added +92.5k |
| PANAGORA ASSET MANAGEMENT INC 0.06% of their portfolio | 644.3k $12.9m | Added +603.9k |
| PRUDENTIAL PLC 0.07% of their portfolio | 642.7k $12.9m | Added +280.1k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 633.6k $12.7m | Added +98.5k |