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 ($8.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $19.01. Options: 23 managers hold calls ($518.7m notional), 24 hold puts ($182.5m).
Trends to Q3 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 |
| Q3 2025 | 242 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q3 2025 | 105 | 164 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $552.3m | $334.8m | 0.61 |
| Q1 2025 | $549.2m | $301.5m | 0.55 |
| Q2 2025 | $438.4m | $234.5m | 0.53 |
| Q3 2025 | $518.7m | $182.5m | 0.35 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +2.7m |
| JANE STREET GROUP, LLC | Added | +2.5m |
| Athos Capital Ltd | New | +2.5m |
| Ghisallo Capital Management LLC | New | +2.5m |
| Mitsubishi UFJ Trust & Banking Corp | Added | +1.6m |
| Burkehill Global Management, LP | New | +1.5m |
| UBS Group AG | Added | +1.4m |
| Allspring Global Investments Holdings, LLC | Added | +1.3m |
| BANK OF AMERICA CORP /DE/ | Added | +1.3m |
| Temasek Holdings (Private) Ltd | Added | +933.9k |
Biggest sellers
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -4.7m |
| HHLR ADVISORS, LTD. | Reduced | -3.2m |
| BlackRock, Inc. | Reduced | -2.8m |
| NATIONAL BANK OF CANADA /FI/ | Reduced | -2.7m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -2.6m |
| Invesco Ltd. | Reduced | -1.9m |
| Assenagon Asset Management S.A. | Reduced | -1.8m |
| MORGAN STANLEY | Reduced | -1.8m |
| OAKTREE CAPITAL MANAGEMENT LP | Sold out | -1.5m |
| APPALOOSA LP | Sold out | -1.5m |
Biggest calls
| JANE STREET GROUP, LLC | Added | $208.6m11.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $53.6m2.8m shares |
| PEAK6 LLC | Added | $47.9m2.5m shares |
| Walleye Trading LLC | Reduced | $43.8m2.3m shares |
| UBS Group AG | Reduced | $27.9m1.5m shares |
| GROUP ONE TRADING LLC | Reduced | $18.8m988.5k shares |
| SIMPLEX TRADING, LLC | Added | $17.1m898.2k shares |
| CITIGROUP INC | Added | $13.7m720.0k shares |
| CITADEL ADVISORS LLC | Added | $10.6m559.0k shares |
| Schonfeld Strategic Advisors LLC | New | $9.5m500.0k shares |
Biggest puts
| GOLDMAN SACHS GROUP INC | Unchanged | $68.4m3.6m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $22.7m1.2m shares |
| Walleye Trading LLC | Reduced | $13.1m689.9k shares |
| PEAK6 LLC | Reduced | $13.0m684.8k shares |
| CITIGROUP INC | New | $10.6m560.0k shares |
| JANE STREET GROUP, LLC | Reduced | $9.4m496.8k shares |
| Verition Fund Management LLC | Added | $6.9m362.7k shares |
| Capital Markets Trading UK LLP | Added | $5.8m304.7k shares |
| GROUP ONE TRADING LLC | Reduced | $5.4m282.5k shares |
| CITADEL ADVISORS LLC | Reduced | $4.3m227.1k 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 Q3 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 Q3 2025.
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 26.6m $504.5m | Reduced -155.4k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 14.8m $280.7m | Added +2.7m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 13.6m $258.6m | Reduced -4.7m |
| WELLINGTON MANAGEMENT GROUP LLP 0.04% of their portfolio | 12.1m $230.1m | Added +521.3k |
| MORGAN STANLEY 0.01% of their portfolio | 7.6m $143.9m | Reduced -1.8m |
| Artisan Partners Limited Partnership 0.21% of their portfolio | 7.5m $142.7m | Reduced -18.3k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 7.3m $138.2m | Added +159.3k |
| RENAISSANCE TECHNOLOGIES LLC 0.17% of their portfolio | 6.8m $130.0m | Reduced -651.7k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.08% of their portfolio | 5.7m $108.4m | Reduced -779.8k |
| H Capital V GP, L.P. 100.00% of their portfolio | 4.9m $94.0m | Unchanged |
| Legal & General Group Plc 0.02% of their portfolio | 4.4m $83.0m | Reduced -341.6k |
| HHLR ADVISORS, LTD. 1.97% of their portfolio | 4.2m $80.5m | Reduced -3.2m |
| STATE STREET CORP 0.00% of their portfolio | 4.0m $76.1m | Reduced -704.6k |
| Greenwoods Asset Management Hong Kong Ltd. 1.57% of their portfolio | 3.7m $69.9m | Reduced -963.7k |
| Nuveen, LLC 0.02% of their portfolio | 3.7m $69.7m | Reduced -310.5k |
| Baird Financial Group, Inc. 0.11% of their portfolio | 3.4m $65.4m | Added +4.8k |
| CoreView Capital Management Ltd 6.95% of their portfolio | 3.3m $63.2m | Reduced -400.0k |
| FIL Ltd 0.05% of their portfolio | 3.2m $61.0m | Reduced -19.9k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 3.1m $58.3m | Added +1.3m |
| UBS Group AG 0.01% of their portfolio | 3.0m $57.2m | Added +1.4m |
| JANE STREET GROUP, LLC 0.06% of their portfolio | 2.7m $51.9m | Added +2.5m |
| Athos Capital Ltd 30.75% of their portfolio | 2.5m $47.5m | New |
| Ghisallo Capital Management LLC 1.55% of their portfolio | 2.5m $47.5m | New |
| SC US (TTGP), LTD. 0.26% of their portfolio | 2.2m $41.7m | Unchanged |
| Temasek Holdings (Private) Ltd 0.14% of their portfolio | 2.2m $41.2m | Added +933.9k |
| ALKEON CAPITAL MANAGEMENT LLC 0.18% of their portfolio | 2.1m $40.8m | Reduced -625.0k |
| Triata Capital Ltd 4.47% of their portfolio | 2.0m $38.3m | Added +149.0k |
| HSG Holding Ltd 1.86% of their portfolio | 1.9m $35.7m | Unchanged |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.10% of their portfolio | 1.9m $38.3m | Added +99.7k |
| Davis Selected Advisers 0.18% of their portfolio | 1.9m $35.2m | Reduced -1.0k |
| BAMCO INC /NY/ 0.09% of their portfolio | 1.8m $33.4m | Reduced -33.1k |
| Mitsubishi UFJ Trust & Banking Corp 0.07% of their portfolio | 1.7m $33.1m | Added +1.6m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.5m $28.7m | Added +100.7k |
| Burkehill Global Management, LP 1.62% of their portfolio | 1.5m $28.5m | New |
| BlackRock, Inc. 0.00% of their portfolio | 1.5m $28.1m | Reduced -2.8m |
| Capital World Investors 0.00% of their portfolio | 1.4m $26.6m | Reduced -1.3m |
| TT International Asset Management LTD 5.08% of their portfolio | 1.4m $26.2m | Added +359.9k |
| Allspring Global Investments Holdings, LLC 0.04% of their portfolio | 1.4m $26.2m | Added +1.3m |
| UG Investment Advisers Ltd. 3.83% of their portfolio | 1.3m $24.5m | Unchanged |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 1.2m $21.9m | Reduced -2.6m |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 1.1m $21.6m | Reduced -1.5k |
| California Public Employees Retirement System 0.01% of their portfolio | 818.2k $15.5m | Reduced -96.5k |
| MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC 3.23% of their portfolio | 729.7k $13.9m | Reduced -83.2k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 659.9k $12.5m | Reduced -28.8k |
| Perseverance Asset Management International 2.15% of their portfolio | 659.8k $12.5m | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 623.7k $11.9m | Reduced -303.4k |
| Jain Global LLC 0.15% of their portfolio | 603.7k $11.5m | New |
| SEI INVESTMENTS CO 0.01% of their portfolio | 561.2k $10.7m | Reduced -384.2k |
| Rovida Investment Management Ltd 1.18% of their portfolio | 550.0k $10.4m | Unchanged |
| M&G PLC 0.05% of their portfolio | 542.4k $10.3m | Added +83.9k |
| NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio | 533.6k $10.1m | Reduced -2.7m |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 533.4k $10.1m | Reduced -591.7k |
| Blue Creek Capital Management Ltd 11.88% of their portfolio | 508.3k $9.7m | Unchanged |
| Invesco Ltd. 0.00% of their portfolio | 505.0k $9.6m | Reduced -1.9m |
| AVIVA PLC 0.02% of their portfolio | 499.9k $9.5m | Added +1.5k |
| XY Capital Ltd 7.91% of their portfolio | 499.8k $9.5m | Added +43.5k |
| Nishkama Capital, LLC 0.83% of their portfolio | 489.0k $9.3m | Reduced -15.1k |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 462.2k $8.8m | Reduced -21.8k |
| Robeco Institutional Asset Management B.V. 0.01% of their portfolio | 455.4k $8.7m | Reduced -189.7k |
| Y-Intercept (Hong Kong) Ltd 0.20% of their portfolio | 440.7k $8.4m | New |
| Polymer Capital Management (HK) LTD 1.06% of their portfolio | 400.0k $7.6m | Reduced -262.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 396.5k $7.5m | Reduced -624.1k |
| BAILLIE GIFFORD & CO 0.01% of their portfolio | 380.8k $7.2m | Reduced -43.0k |
| Pinpoint Asset Management (Singapore) Pte. Ltd. 1.25% of their portfolio | 368.1k $7.0m | Reduced -316.8k |
| KBC Group NV 0.02% of their portfolio | 352.6k $6.7m | Reduced -63.1k |
| Handelsbanken Fonder AB 0.02% of their portfolio | 347.4k $6.6m | Unchanged |
| Oasis Management Co Ltd. 1.08% of their portfolio | 333.0k $6.3m | Added +103.0k |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.07% of their portfolio | 323.5k $6.1m | Added +19.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 319.5k $6.1m | Reduced -514.1k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.15% of their portfolio | 309.7k $5.9m | New |
| Aberdeen Group plc 0.01% of their portfolio | 283.1k $5.7m | Reduced -36.2k |
| FMR LLC 0.00% of their portfolio | 272.6k $5.2m | Added +1.7k |
| NOMURA HOLDINGS INC 0.02% of their portfolio | 271.0k $5.1m | New |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 270.2k $5.1m | Reduced -100.1k |
| Lighthouse Investment Partners, LLC 0.18% of their portfolio | 262.0k $5.0m | New |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 259.2k $5.2m | Reduced -689.9k |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 251.4k $4.8m | Reduced -160.7k |
| Mirae Asset Global Investments Co., Ltd. 0.01% of their portfolio | 249.2k $4.7m | Reduced -320 |
| Weiss Asset Management LP 0.07% of their portfolio | 247.1k $4.7m | Not comparable |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 245.4k $4.7m | Added +5.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 239.0k $4.5m | Added +86.7k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 236.1k $4.5m | Reduced -843.3k |
| SG Americas Securities, LLC 0.02% of their portfolio | 219.8k $4.2m | Added +176 |
| Tower Research Capital LLC (TRC) 0.11% of their portfolio | 215.6k $4.1m | Added +128.0k |
| CITIGROUP INC 0.00% of their portfolio | 215.2k $4.1m | Reduced -501.5k |
| Vontobel Holding Ltd. 0.01% of their portfolio | 194.2k $3.7m | Reduced -521.3k |
| STOREBRAND ASSET MANAGEMENT AS 0.01% of their portfolio | 171.7k $3.3m | Unchanged |
| HIMENSION CAPITAL (SINGAPORE) PTE. LTD. 0.18% of their portfolio | 158.0k $3.0m | New |
| Swedbank AB 0.00% of their portfolio | 157.5k $3.0m | Reduced -29.7k |
| KLP KAPITALFORVALTNING AS 0.01% of their portfolio | 153.5k $2.9m | Unchanged |
| Marex Group Ltd 0.04% of their portfolio | 150.0k $2.9m | Unchanged |
| LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio | 148.5k $2.8m | Reduced -850.7k |
| MACKENZIE FINANCIAL CORP 0.00% of their portfolio | 145.7k $2.8m | Added +59.5k |
| Siren, L.L.C. 0.11% of their portfolio | 145.0k $2.8m | Added +40.0k |
| OVERSEA-CHINESE BANKING Corp Ltd 0.07% of their portfolio | 139.9k $2.7m | Added +73.1k |
| Hudson Bay Capital Management LP 0.02% of their portfolio | 133.6k $2.5m | Added +20.6k |
| Infini Capital Management Ltd 2.38% of their portfolio | 128.0k $2.4m | Added +128.0k |
| Lansforsakringar Fondforvaltning AB (publ) 0.01% of their portfolio | 127.7k $2.4m | Reduced -1.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 127.4k $2.4m | Reduced -230.1k |
| Mariner, LLC 0.00% of their portfolio | 126.3k $2.4m | Added +8.1k |