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 ($10.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $17.77. Options: 24 managers hold calls ($438.4m notional), 21 hold puts ($234.5m).
Trends to Q2 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 |
| Q2 2025 | 259 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q2 2025 | 114 | 191 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $584.0m | $158.0m | 0.27 |
| Q4 2024 | $552.3m | $334.8m | 0.61 |
| Q1 2025 | $549.2m | $301.5m | 0.55 |
| Q2 2025 | $438.4m | $234.5m | 0.53 |
Biggest buyers
| Artisan Partners Limited Partnership | Added | +3.3m |
| Assenagon Asset Management S.A. | Added | +1.8m |
| Invesco Ltd. | Added | +1.6m |
| VANGUARD GROUP INC | Added | +1.4m |
| Carrhae Capital LLP | New | +1.4m |
| Temasek Holdings (Private) Ltd | New | +1.2m |
| MILLENNIUM MANAGEMENT LLC | Added | +1.0m |
| Baird Financial Group, Inc. | Added | +783.9k |
| CITADEL ADVISORS LLC | Added | +726.9k |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +629.7k |
Biggest sellers
| BlackRock, Inc. | Reduced | -30.6m |
| FIL Ltd | Reduced | -23.4m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -18.4m |
| Capital Research Global Investors | Sold out | -18.2m |
| Krane Funds Advisors LLC | Sold out | -14.9m |
| M&G PLC | Reduced | -8.6m |
| Mirae Asset Global Investments Co., Ltd. | Reduced | -7.8m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -7.0m |
| STATE STREET CORP | Reduced | -6.2m |
| Capital World Investors | Reduced | -6.1m |
Biggest calls
| JANE STREET GROUP, LLC | Reduced | $165.5m9.3m shares |
| Walleye Trading LLC | Added | $68.4m3.9m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $57.2m3.2m shares |
| UBS Group AG | Reduced | $29.0m1.6m shares |
| GROUP ONE TRADING LLC | Added | $27.0m1.5m shares |
| PEAK6 LLC | Reduced | $21.6m1.2m shares |
| Capital Markets Trading UK LLP | Added | $9.5m536.3k shares |
| CITADEL ADVISORS LLC | Reduced | $9.5m535.7k shares |
| SIMPLEX TRADING, LLC | Reduced | $8.5m476.7k shares |
| Parallax Volatility Advisers, L.P. | Reduced | $7.1m400.2k shares |
Biggest puts
| GOLDMAN SACHS GROUP INC | Reduced | $63.9m3.6m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $34.7m2.0m shares |
| JANE STREET GROUP, LLC | Reduced | $33.9m1.9m shares |
| Walleye Trading LLC | Added | $23.5m1.3m shares |
| PEAK6 LLC | Added | $17.1m966.4k shares |
| GROUP ONE TRADING LLC | Added | $10.8m608.3k shares |
| Parallax Volatility Advisers, L.P. | Added | $9.5m533.3k shares |
| SIMPLEX TRADING, LLC | Reduced | $7.0m392.9k shares |
| Capital Markets Trading UK LLP | Added | $5.4m302.9k shares |
| CITADEL ADVISORS LLC | Reduced | $5.3m298.2k 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 Q2 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 Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 26.7m $473.8m | Added +1.4m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.04% of their portfolio | 18.3m $324.5m | Reduced -18.4m |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 12.1m $214.9m | Reduced -1.5m |
| WELLINGTON MANAGEMENT GROUP LLP 0.04% of their portfolio | 11.6m $205.6m | Added +629.7k |
| MORGAN STANLEY 0.01% of their portfolio | 9.3m $165.6m | Reduced -1.7m |
| Artisan Partners Limited Partnership 0.20% of their portfolio | 7.5m $133.5m | Added +3.3m |
| RENAISSANCE TECHNOLOGIES LLC 0.18% of their portfolio | 7.5m $133.0m | Reduced -412.0k |
| HHLR ADVISORS, LTD. 4.27% of their portfolio | 7.5m $132.4m | Reduced -4.5m |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 7.1m $126.2m | Reduced -2.6m |
| NORGES BANK 0.02% of their portfolio | 7.0m $124.6m | Added +532.8k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.10% of their portfolio | 6.5m $115.1m | Reduced -588.7k |
| H Capital V GP, L.P. 100.00% of their portfolio | 4.9m $87.8m | Unchanged |
| STATE STREET CORP 0.00% of their portfolio | 4.7m $83.5m | Reduced -6.2m |
| Legal & General Group Plc 0.02% of their portfolio | 4.7m $83.5m | Added +265.4k |
| Greenwoods Asset Management Hong Kong Ltd. 2.86% of their portfolio | 4.6m $82.3m | Reduced -131.1k |
| BlackRock, Inc. 0.00% of their portfolio | 4.3m $76.3m | Reduced -30.6m |
| Nuveen, LLC 0.02% of their portfolio | 4.0m $70.5m | Reduced -78.6k |
| CoreView Capital Management Ltd 8.63% of their portfolio | 3.7m $66.1m | Added +52.0k |
| MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio | 3.7m $66.0m | Added +1.0m |
| Baird Financial Group, Inc. 0.11% of their portfolio | 3.4m $61.0m | Added +783.9k |
| FIL Ltd 0.05% of their portfolio | 3.2m $57.3m | Reduced -23.4m |
| NATIONAL BANK OF CANADA /FI/ 0.06% of their portfolio | 3.2m $57.3m | Added +504.8k |
| ALKEON CAPITAL MANAGEMENT LLC 0.24% of their portfolio | 2.8m $49.2m | Reduced -1.5m |
| Capital World Investors 0.01% of their portfolio | 2.7m $47.4m | Reduced -6.1m |
| Invesco Ltd. 0.01% of their portfolio | 2.4m $43.0m | Added +1.6m |
| SC US (TTGP), LTD. 0.27% of their portfolio | 2.2m $38.9m | Unchanged |
| HSG Holding Ltd 1.77% of their portfolio | 1.9m $34.4m | Unchanged |
| Triata Capital Ltd 6.46% of their portfolio | 1.9m $33.1m | Added +79.2k |
| Davis Selected Advisers 0.18% of their portfolio | 1.9m $32.9m | Reduced -7.7k |
| Assenagon Asset Management S.A. 0.05% of their portfolio | 1.9m $32.8m | Added +1.8m |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.08% of their portfolio | 1.8m $33.3m | Added +401.1k |
| BAMCO INC /NY/ 0.09% of their portfolio | 1.8m $31.7m | Added +240.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.7m $30.9m | Reduced -1.1m |
| UBS Group AG 0.01% of their portfolio | 1.6m $29.2m | Reduced -1.4m |
| OAKTREE CAPITAL MANAGEMENT LP 0.53% of their portfolio | 1.5m $26.8m | Added +258.3k |
| APPALOOSA LP 0.41% of their portfolio | 1.5m $26.6m | Reduced -400.0k |
| Qube Research & Technologies Ltd 0.03% of their portfolio | 1.4m $25.2m | Reduced -880.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.4m $25.0m | Added +128.4k |
| Carrhae Capital LLP 2.31% of their portfolio | 1.4m $24.1m | New |
| JENNISON ASSOCIATES LLC 0.01% of their portfolio | 1.3m $22.9m | Reduced -1.5m |
| Russell Investments Group, Ltd. 0.03% of their portfolio | 1.3m $22.9m | Reduced -184.2k |
| UG Investment Advisers Ltd. 4.37% of their portfolio | 1.3m $22.9m | Unchanged |
| Temasek Holdings (Private) Ltd 0.08% of their portfolio | 1.2m $21.9m | New |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 1.1m $20.2m | Added +178.7k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 1.1m $20.0m | Added +191.6k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 1.1m $19.1m | Added +726.9k |
| Man Group plc 0.04% of their portfolio | 1.1m $19.0m | Reduced -859.1k |
| TT International Asset Management LTD 3.45% of their portfolio | 1.0m $18.1m | Reduced -1.3m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.03% of their portfolio | 1.0m $18.1m | Reduced -368.9k |
| LAZARD ASSET MANAGEMENT LLC 0.02% of their portfolio | 999.1k $17.7m | Added +64.1k |
| MARSHALL WACE, LLP 0.02% of their portfolio | 988.6k $17.5m | Reduced -803.5k |
| CANADA LIFE ASSURANCE Co 0.03% of their portfolio | 949.1k $16.8m | Added +110.4k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 945.4k $16.8m | Added +40.2k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 927.0k $16.4m | Reduced -3.2m |
| California Public Employees Retirement System 0.01% of their portfolio | 914.7k $16.2m | Added +45.9k |
| APG Asset Management N.V. 0.04% of their portfolio | 884.6k $13.4m | Reduced -492.4k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 882.5k $15.7m | Added +415.0k |
| C WorldWide Group Holding A/S 0.20% of their portfolio | 840.8k $14.9m | Reduced -117.0k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 833.6k $14.8m | Reduced -439.4k |
| MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC 3.32% of their portfolio | 812.9k $14.4m | Reduced -222.8k |
| AXIOM INVESTORS LLC /DE 0.11% of their portfolio | 721.5k $12.8m | Reduced -1.8m |
| CITIGROUP INC 0.01% of their portfolio | 716.7k $12.7m | Reduced -370.8k |
| Vontobel Holding Ltd. 0.04% of their portfolio | 715.5k $12.7m | Reduced -334.8k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 688.7k $12.2m | Added +55.1k |
| Pinpoint Asset Management (Singapore) Pte. Ltd. 3.56% of their portfolio | 684.9k $20.4m | First filing |
| Polymer Capital Management (HK) LTD 1.84% of their portfolio | 662.7k $11.8m | Reduced -33.3k |
| Robeco Institutional Asset Management B.V. 0.02% of their portfolio | 645.1k $11.4m | Reduced -648.9k |
| Verition Fund Management LLC 0.06% of their portfolio | 612.5k $10.9m | New |
| NOMURA ASSET MANAGEMENT CO LTD 0.03% of their portfolio | 568.8k $10.1m | Reduced -86.0k |
| HRT FINANCIAL LP 0.05% of their portfolio | 567.8k $10.1m | Added +414.1k |
| LMR Partners LLP 0.16% of their portfolio | 567.5k $10.1m | Added +176.6k |
| Rovida Investment Management Ltd 1.80% of their portfolio | 550.0k $9.8m | Unchanged |
| BARINGS LLC 0.22% of their portfolio | 530.0k $9.4m | Reduced -621.6k |
| Blue Creek Capital Management Ltd 12.61% of their portfolio | 508.3k $9.0m | Reduced -70.0k |
| Nishkama Capital, LLC 1.46% of their portfolio | 504.1k $8.9m | New |
| Pictet Asset Management Holding SA 0.01% of their portfolio | 501.7k $8.9m | Reduced -653.7k |
| Headwater Capital Co Ltd 3.10% of their portfolio | 500.0k $8.9m | Reduced -500.0k |
| AVIVA PLC 0.02% of their portfolio | 498.4k $8.8m | Added +7.1k |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 484.0k $8.6m | Reduced -3.0m |
| M&G PLC 0.05% of their portfolio | 458.5k $8.3m | Reduced -8.6m |
| XY Capital Ltd 5.58% of their portfolio | 456.3k $8.1m | Reduced -701.9k |
| BAILLIE GIFFORD & CO 0.01% of their portfolio | 423.8k $7.5m | Reduced -842.8k |
| KBC Group NV 0.02% of their portfolio | 415.7k $7.4m | Reduced -76.0k |
| VAN ECK ASSOCIATES CORP 0.01% of their portfolio | 412.1k $7.3m | Added +167.7k |
| BARCLAYS PLC 0.00% of their portfolio | 398.0k $7.1m | Reduced -734.8k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 379.6k $6.7m | Reduced -638.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 370.3k $6.6m | Reduced -1.9m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 357.5k $6.3m | Reduced -7.0m |
| Handelsbanken Fonder AB 0.02% of their portfolio | 347.4k $6.2m | Reduced -8.4k |
| Aberdeen Group plc 0.01% of their portfolio | 319.3k $5.7m | Reduced -129.0k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 310.7k $5.5m | Unchanged |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.06% of their portfolio | 304.2k $5.4m | Added +7.2k |
| DYMON ASIA CAPITAL (SINGAPORE) PTE. LTD. 3.47% of their portfolio | 275.8k $4.9m | Reduced -50.0k |
| FMR LLC 0.00% of their portfolio | 270.9k $4.8m | Reduced -3.2m |
| TB Alternative Assets Ltd. 0.87% of their portfolio | 265.7k $4.7m | Unchanged |
| Cubist Systematic Strategies, LLC 0.05% of their portfolio | 254.7k $4.5m | New |
| Squarepoint Ops LLC 0.01% of their portfolio | 250.2k $4.4m | Added +43.0k |
| Mirae Asset Global Investments Co., Ltd. 0.02% of their portfolio | 249.5k $4.4m | Reduced -7.8m |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 240.2k $4.3m | Added +35.8k |
| Oasis Management Co Ltd. 0.96% of their portfolio | 230.0k $4.1m | Reduced -4.0k |