Vault-13

PDD HOLDINGS INC PDD

SPONSORED ADS · ADR · CUSIP 722304102 · ISIN US7223041028

472 institutional holders +19 vs Q4 2022
353,124,437353.1m shares reported held*
$26.6bnreported value*
83 new 183 added 157 reduced 66 sold out net bought ≈ $1.9bn (+26.0m shares)

* 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 ($63.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $75.43. Options: 44 managers hold calls ($1.9bn notional), 42 hold puts ($2.4bn).

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 413Q4 22: 453Q1 23: 472472Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 2022413
Q4 2022453
Q1 2023472

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q4 22: 259 bought or addedQ4 22: 181 cut or sold outQ4 22Q1 23: 266 bought or addedQ1 23: 223 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022259181
Q1 2023266223

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$1bn$2bn$3bnQ3 22 calls: $1.5bnQ3 22 puts: $871.3mQ3 22P/C 0.60Q4 22 calls: $2.5bnQ4 22 puts: $2.3bnQ4 22P/C 0.95Q1 23 calls: $1.9bnQ1 23 puts: $2.4bnQ1 23P/C 1.26
Numbers
QuarterCallsPutsP/C
Q3 2022$1.5bn$871.3m0.60
Q4 2022$2.5bn$2.3bn0.95
Q1 2023$1.9bn$2.4bn1.26

Biggest buyers

MORGAN STANLEY Added +8,523,055+8.5m
HHLR ADVISORS, LTD. Added +7,739,047+7.7m
Assenagon Asset Management S.A. Added +4,506,101+4.5m
FMR LLC Added +4,445,099+4.4m
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Added +4,427,842+4.4m
SCHRODER INVESTMENT MANAGEMENT GROUP Added +3,248,695+3.2m
GOLDMAN SACHS GROUP INC Added +3,081,971+3.1m
VANGUARD GROUP INC Added +2,570,501+2.6m
CoreView Capital Management Ltd New +2,500,000+2.5m
ALKEON CAPITAL MANAGEMENT LLC Added +1,861,339+1.9m

Biggest sellers

BARCLAYS PLC Reduced -2,825,976-2.8m
D. E. Shaw & Co., Inc. Reduced -2,726,647-2.7m
JPMORGAN CHASE & CO Reduced -2,158,164-2.2m
RENAISSANCE TECHNOLOGIES LLC Reduced -2,153,700-2.2m
Trivest Advisors Ltd Reduced -2,152,200-2.2m
MARSHALL WACE, LLP Reduced -1,910,500-1.9m
Fullerton Fund Management Co Ltd. Sold out -1,804,119-1.8m
Bridgewater Associates, LP Reduced -1,503,433-1.5m
Greenwoods Asset Management Hong Kong Ltd. Reduced -1,339,466-1.3m
RWC ASSET ADVISORS (US) LLC Reduced -1,173,286-1.2m

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $354.6m4.7m shares
JANE STREET GROUP, LLC Reduced $268.0m3.5m shares
Parallax Volatility Advisers, L.P. Reduced $212.2m2.8m shares
CITADEL ADVISORS LLC Added $166.5m2.2m shares
Walleye Trading LLC Added $122.6m1.6m shares
BARCLAYS PLC Added $122.2m1.6m shares
GOLDMAN SACHS GROUP INC Reduced $88.3m1.2m shares
SIMPLEX TRADING, LLC Reduced $82.8m1.1m shares
CMT Capital Markets Trading GmbH Reduced $58.8m774.7k shares
IMC-Chicago, LLC Added $58.2m766.7k shares

Biggest puts

GOLDMAN SACHS GROUP INC Added $577.8m7.6m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $430.8m5.7m shares
JANE STREET GROUP, LLC Added $219.6m2.9m shares
Parallax Volatility Advisers, L.P. Added $171.6m2.3m shares
CITADEL ADVISORS LLC Reduced $135.0m1.8m shares
SIMPLEX TRADING, LLC Added $132.9m1.8m shares
Anson Funds Management LP Added $106.3m1.4m shares
D. E. Shaw & Co., Inc. Added $63.7m839.4k shares
BARCLAYS PLC Reduced $59.2m779.9k shares
CMT Capital Markets Trading GmbH Added $51.0m672.4k 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.

Insider purchases and sales in Q1 2023

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 2023.

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BAILLIE GIFFORD & CO 1.93% of their portfolio EDINBURGH, X0 28,191,24428.2m $2.1bn $2.1bn 1.93% Reduced -434.7k -434,736
2 BlackRock Inc. 0.06% of their portfolio New York, NY 24,874,01924.9m $1.9bn $1.9bn 0.06% Reduced -834.5k -834,455
3 FMR LLC 0.06% of their portfolio BOSTON, MA 18,574,41218.6m $1.4bn $1.4bn 0.06% Added +4.4m +4,445,099
4 VANGUARD GROUP INC 0.03% of their portfolio Valley Forge, PA 17,350,12517.4m $1.3bn $1.3bn 0.03% Added +2.6m +2,570,501
5 MORGAN STANLEY 0.13% of their portfolio NEW YORK, NY 15,604,42615.6m $1.2bn $1.2bn 0.13% Added +8.5m +8,523,055
6 STATE STREET CORP 0.05% of their portfolio BOSTON, MA 12,055,26812.1m $915.0m $915.0m 0.05% Added +1.1m +1,066,720
7 GOLDMAN SACHS GROUP INC 0.23% of their portfolio NEW YORK, NY 11,283,85911.3m $856.4m $856.4m 0.23% Added +3.1m +3,081,971
8 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.41% of their portfolio NEW YORK, NY 11,024,16311.0m $836.7m $836.7m 0.41% Added +4.4m +4,427,842
9 HHLR ADVISORS, LTD. 14.32% of their portfolio GRAND CAYMAN, E9 10,642,84710.6m $807.8m $807.8m 14.32% Added +7.7m +7,739,047
10 IDG China Venture Capital Fund IV Associates L.P. 98.09% of their portfolio HONG KONG, K3 8,323,9448.3m $631.8m $631.8m 98.09% Unchanged
11 NORGES BANK 0.11% of their portfolio OSLO, Q8 6,471,7636.5m $491.2m $491.2m 0.11% Added +327.2k +327,205
12 HSBC HOLDINGS PLC 0.49% of their portfolio LONDON, X0 5,039,9845.0m $382.4m $382.4m 0.49% Added +265.2k +265,158
13 Assenagon Asset Management S.A. 1.38% of their portfolio SENNINGERBERG, N4 4,630,6434.6m $351.5m $351.5m 1.38% Added +4.5m +4,506,101
14 FIL Ltd 0.39% of their portfolio HAMILTON, D0 4,444,5344.4m $337.3m $337.3m 0.39% Reduced -50.5k -50,497
15 Krane Funds Advisors LLC 14.11% of their portfolio NEW YORK, NY 4,366,8064.4m $308.8m $308.8m 14.11% Reduced -444.7k -444,745
16 Greenwoods Asset Management Hong Kong Ltd. 18.61% of their portfolio HONG KONG, K3 4,239,0864.2m $321.7m $321.7m 18.61% Reduced -1.3m -1,339,466
17 JPMORGAN CHASE & CO 0.04% of their portfolio NEW YORK, NY 3,915,7563.9m $297.2m $297.2m 0.04% Reduced -2.2m -2,158,164
18 CANADA PENSION PLAN INVESTMENT BOARD 0.47% of their portfolio TORONTO ONTARIO, A6 3,873,1063.9m $294.0m $294.0m 0.47% Reduced -178.4k -178,400
19 Legal & General Group Plc 0.10% of their portfolio London, X0 3,831,1703.8m $290.8m $290.8m 0.10% Added +175.8k +175,775
20 E Fund Management Co., Ltd. 21.12% of their portfolio GUANGZHOU, F4 3,812,5693.8m $289.4m $289.4m 21.12% Added +177.7k +177,675
21 SCHRODER INVESTMENT MANAGEMENT GROUP 0.41% of their portfolio London, X0 3,601,5353.6m $273.4m $273.4m 0.41% Added +3.2m +3,248,695
22 BNP PARIBAS FINANCIAL MARKETS 0.57% of their portfolio PARIS, I0 3,483,8843.5m $264.4m $264.4m 0.57% Added +857.6k +857,606
23 PRICE T ROWE ASSOCIATES INC /MD/ 0.04% of their portfolio BALTIMORE, MD 3,377,5803.4m $256.4m $256.4m 0.04% Reduced -116.6k -116,593
24 Robeco Institutional Asset Management B.V. 0.67% of their portfolio ROTTERDAM, P7 3,226,1543.2m $244.9m $244.9m 0.67% Added +223.3k +223,323
25 SC US (TTGP), LTD. 2.85% of their portfolio Menlo Park, CA 3,185,0223.2m $241.7m $241.7m 2.85% Unchanged
26 BANK OF AMERICA CORP /DE/ 0.03% of their portfolio CHARLOTTE, NC 3,182,1343.2m $241.5m $241.5m 0.03% Added +1.3m +1,307,458
27 ALKEON CAPITAL MANAGEMENT LLC 1.53% of their portfolio New York, NY 3,141,3393.1m $238.4m $238.4m 1.53% Added +1.9m +1,861,339
28 D. E. Shaw & Co., Inc. 0.37% of their portfolio New York, NY 3,012,5543.0m $228.7m $228.7m 0.37% Reduced -2.7m -2,726,647
29 DEUTSCHE BANK AG\ 0.12% of their portfolio FRANKFURT AM MAIN, 2M 2,884,4872.9m $218.9m $218.9m 0.12% Added +1.1m +1,052,758
30 GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio BOSTON, MA 2,837,9632.8m $214.3m $214.3m 0.03% Added +172.9k +172,903
31 Temasek Holdings (Private) Ltd 1.22% of their portfolio SINGAPORE, U0 2,716,0812.7m $206.2m $206.2m 1.22% Unchanged
32 CoreView Capital Management Ltd 0.30% of their portfolio HONG KONG, K3 2,500,0002.5m $2.4m $2.4m 0.30% New
33 Veritas Asset Management LLP 1.30% of their portfolio London, X0 2,325,2002.3m $176.5m $176.5m 1.30% Added +564.2k +564,200
34 Trivest Advisors Ltd 13.43% of their portfolio Hong Kong, K3 2,275,7002.3m $172.7m $172.7m 13.43% Reduced -2.2m -2,152,200
35 RWC ASSET ADVISORS (US) LLC 13.06% of their portfolio MIAMI, FL 2,261,4962.3m $171.6m $171.6m 13.06% Reduced -1.2m -1,173,286
36 Genesis Investment Management, LLP 18.56% of their portfolio London, X0 2,251,1032.3m $170.9m $170.9m 18.56% Added +109.7k +109,694
37 Invesco Ltd. 0.05% of their portfolio ATLANTA, GA 2,249,1022.2m $170.7m $170.7m 0.05% Added +74.2k +74,188
38 Bridgewater Associates, LP 0.99% of their portfolio Westport, CT 2,142,3972.1m $162.6m $162.6m 0.99% Reduced -1.5m -1,503,433
39 ALLIANCEBERNSTEIN L.P. 0.07% of their portfolio NASHVILLE, TN 2,115,9712.1m $160.6m $160.6m 0.07% Reduced -729.0k -729,038
40 NORTHERN TRUST CORP 0.03% of their portfolio CHICAGO, IL 2,081,2282.1m $158.0m $158.0m 0.03% Added +386.3k +386,301
41 Tairen Capital Ltd 22.97% of their portfolio HONG KONG, K3 1,999,5812.0m $151.8m $151.8m 22.97% Reduced -659.6k -659,553
42 MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC 14.89% of their portfolio SAN FRANCISCO, CA 1,966,6782.0m $149.3m $149.3m 14.89% Reduced -420.3k -420,270
43 CoreView Capital Management Ltd 18.97% of their portfolio HONG KONG, K3 1,962,4512.0m $149.0m $149.0m 18.97% Unchanged
44 Vontobel Holding Ltd. 1.32% of their portfolio ZURICH, V8 1,867,2811.9m $141.7m $141.7m 1.32% Reduced -476.6k -476,563
45 Fisher Asset Management, LLC 0.09% of their portfolio PLANO, TX 1,844,1111.8m $140.0m $140.0m 0.09% Reduced -138.3k -138,280
46 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.22% of their portfolio BALA CYNWYD, PA 1,831,7311.8m $139.0m $139.0m 0.22% Added +1.8m +1,761,580
47 Franchise Capital Ltd 35.70% of their portfolio GRAND CAYMAN, E9 1,804,0541.8m $136.9m $136.9m 35.70% Added +170.9k +170,941
48 NATIONAL BANK OF CANADA /FI/ 0.36% of their portfolio MONTREAL, A8 1,764,9121.8m $133.9m $133.9m 0.36% Added +1.6m +1,567,307
49 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.17% of their portfolio BOSTON, MA 1,743,9361.7m $132.4m $132.4m 0.17% Reduced -97.5k -97,537
50 Mirae Asset Global Investments Co., Ltd. 0.31% of their portfolio SEOUL, M5 1,727,2691.7m $131.1m $131.1m 0.31% Added +206.6k +206,602
51 PICTET ASSET MANAGEMENT SA 0.16% of their portfolio GENEVA 73, V8 1,723,8891.7m $130.8m $130.8m 0.16% Added +377.2k +377,228
52 LORD, ABBETT & CO. LLC 0.23% of their portfolio JERSEY CITY, NJ 1,700,6461.7m $129.1m $129.1m 0.23% Added +251.3k +251,268
53 PRINCIPAL FINANCIAL GROUP INC 0.09% of their portfolio DES MOINES, IA 1,659,7911.7m $126.0m $126.0m 0.09% Reduced -92.5k -92,479
54 UBS Group AG 0.06% of their portfolio ZURICH, V8 1,598,6081.6m $121.3m $121.3m 0.06% Reduced -266.0k -266,008
55 HSG Holding Ltd 12.70% of their portfolio NA, K3 1,592,5101.6m $120.9m $120.9m 12.70% Unchanged
56 Swiss National Bank 0.07% of their portfolio ZURICH, V8 1,368,8951.4m $103.9m $103.9m 0.07% Added +1.9k +1,900
57 Cederberg Capital Ltd 35.12% of their portfolio LONDON, X0 1,361,5001.4m $103.3m $103.3m 35.12% Unchanged
58 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 1,354,4131.4m $102.8m $102.8m 0.02% Added +43.3k +43,337
59 Sumitomo Mitsui Trust Group, Inc. 0.08% of their portfolio CHIYODA-KU, TOKYO, M0 1,341,3221.3m $101.8m $101.8m 0.08% Reduced -4.8k -4,774
60 Alpine Investment Management Ltd 19.86% of their portfolio HONG KONG, K3 1,250,0001.2m $94.9m $94.9m 19.86% Not comparable
61 RENAISSANCE TECHNOLOGIES LLC 0.12% of their portfolio NEW YORK, NY 1,206,4001.2m $91.6m $91.6m 0.12% Reduced -2.2m -2,153,700
62 OLP CAPITAL MANAGEMENT Ltd 21.26% of their portfolio CAUSEWAY BAY, K3 1,180,0411.2m $89.6m $89.6m 21.26% Added +343.2k +343,197
63 PUBLIC INVESTMENT FUND 0.25% of their portfolio AL AQIQ DISTRICT, RIYADH, T0 1,171,5701.2m $88.9m $88.9m 0.25% Reduced -367.8k -367,823
64 Perseverance Asset Management International 28.61% of their portfolio GEORGE TOWN, E9 1,137,6981.1m $86.4m $86.4m 28.61% Added +111.6k +111,578
65 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 1,089,1831.1m $1.9m $1.9m 0.00% Added +1.1m +1,053,796
66 Whale Rock Capital Management LLC 1.82% of their portfolio Boston, MA 1,087,7291.1m $82.6m $82.6m 1.82% Added +425.9k +425,871
67 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 1,067,2101.1m $81.0m $81.0m 0.03% Added +107.3k +107,343
68 Nuveen Asset Management, LLC 0.03% of their portfolio CHICAGO, IL 991,019991.0k $75.2m $75.2m 0.03% Reduced -981.4k -981,426
69 MARSHALL WACE, LLP 0.18% of their portfolio LONDON, X0 972,997973.0k $73.9m $73.9m 0.18% Reduced -1.9m -1,910,500
70 CREDIT SUISSE AG/ 0.07% of their portfolio ZURICH, V8 962,497962.5k $73.1m $73.1m 0.07% Added +28.3k +28,255
71 Allianz Asset Management GmbH 0.15% of their portfolio MUNICH, 2M 923,503923.5k $70.1m $70.1m 0.15% Added +755.6k +755,559
72 COATUE MANAGEMENT LLC 0.47% of their portfolio New York, NY 922,084922.1k $70.0m $70.0m 0.47% Added +274.9k +274,943
73 Sylebra Capital Ltd 3.07% of their portfolio HONG KONG, K3 909,878909.9k $69.1m $69.1m 3.07% Added +3.2k +3,156
74 Pinpoint Asset Management Ltd 10.36% of their portfolio HONG KONG, K3 907,764907.8k $38.7m $38.7m 10.36% Reduced -36.4k -36,446
75 FIRST TRUST ADVISORS LP 0.08% of their portfolio Wheaton, IL 857,332857.3k $65.1m $65.1m 0.08% Reduced -137.1k -137,073
76 Coronation Fund Managers Ltd. 1.71% of their portfolio Cape Town, T3 848,093848.1k $64.4m $64.4m 1.71% Reduced -62.1k -62,065
77 Russell Investments Group, Ltd. 0.12% of their portfolio Seattle, WA 831,010831.0k $63.1m $63.1m 0.12% Reduced -378.7k -378,745
78 California Public Employees Retirement System 0.06% of their portfolio Sacramento, CA 828,985829.0k $62.9m $62.9m 0.06% Added +11.2k +11,190
79 SG Americas Securities, LLC 0.84% of their portfolio NEW YORK, NY 826,020826.0k $62.7m $62.7m 0.84% Added +422.2k +422,230
80 CAUSEWAY CAPITAL MANAGEMENT LLC 1.49% of their portfolio LOS ANGELES, CA 820,918820.9k $62.3m $62.3m 1.49% Added +7.8k +7,767
81 Origin Asset Management LLP 18.05% of their portfolio LONDON, X0 811,447811.4k $61.6m $61.6m 18.05% Added +9.9k +9,900
82 FIRST MANHATTAN CO. LLC. 0.24% of their portfolio NEW YORK, NY 811,094811.1k $61.6m $61.6m 0.24% Added +77.8k +77,754
83 BARCLAYS PLC 0.06% of their portfolio LONDON, X0 810,407810.4k $61.5m $61.5m 0.06% Reduced -2.8m -2,825,976
84 APG Asset Management N.V. 0.12% of their portfolio Amsterdam, P7 804,128804.1k $56.2m $56.2m 0.12% Reduced -265.2k -265,200
85 Mitsubishi UFJ Trust & Banking Corp 0.15% of their portfolio TOKYO, M0 797,003797.0k $60.5m $60.5m 0.15% Reduced -14.9k -14,865
86 VICTORY CAPITAL MANAGEMENT INC 0.07% of their portfolio San Antonio, TX 776,685776.7k $59.0m $59.0m 0.07% Reduced -15.0k -15,012
87 Aspex Management (HK) Ltd 1.44% of their portfolio CENTRAL, K3 775,000775.0k $58.8m $58.8m 1.44% New
88 TWO SIGMA ADVISERS, LP 0.15% of their portfolio NEW YORK, NY 773,900773.9k $58.7m $58.7m 0.15% Reduced -170.2k -170,200
89 CANADA LIFE ASSURANCE Co 0.15% of their portfolio WINNIPEG, A2 773,756773.8k $58.8m $58.8m 0.15% Added +55.6k +55,635
90 SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 1.35% of their portfolio BALA CYNWYD, PA 764,885764.9k $58.1m $58.1m 1.35% Unchanged
91 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.33% of their portfolio TORONTO, A6 762,400762.4k $57.9m $57.9m 0.33% New
92 AQR CAPITAL MANAGEMENT LLC 0.13% of their portfolio Greenwich, CT 755,741755.7k $57.4m $57.4m 0.13% Added +21.3k +21,300
93 TB Alternative Assets Ltd. 14.06% of their portfolio HONG KONG, K3 751,400751.4k $57.0m $57.0m 14.06% Added +612.0k +612,000
94 ACADIAN ASSET MANAGEMENT LLC 0.25% of their portfolio Boston, MA 745,982746.0k $56.6m $56.6m 0.25% Added +659.7k +659,700
95 NOMURA HOLDINGS INC 0.55% of their portfolio TOKYO, M0 742,139742.1k $56.3m $56.3m 0.55% Added +218.0k +217,973
96 PRUDENTIAL PLC 0.64% of their portfolio LONDON, X0 721,984722.0k $54.8m $54.8m 0.64% Reduced -8.7k -8,719
97 RWC Asset Management LLP 1.66% of their portfolio LONDON, X0 707,952708.0k $53.7m $53.7m 1.66% Reduced -352.6k -352,610
98 IvyRock Asset Management (HK) Ltd 28.56% of their portfolio SHEUNG WAN, K3 686,636686.6k $52.1m $52.1m 28.56% Added +390.5k +390,500
99 BARINGS LLC 1.73% of their portfolio CHARLOTTE, NC 664,266664.3k $50.4m $50.4m 1.73% Added +182.5k +182,504
100 KEYSTONE INVESTORS PTE LTD 9.91% of their portfolio SINGAPORE, U0 652,633652.6k $49.5m $49.5m 9.91% Added +2.4k +2,354