Vault-13

PDD HOLDINGS INC PDD

SPONSORED ADS · ADR · CUSIP 722304102 · ISIN US7223041028

475 institutional holders +20 vs Q2 2023
367,165,208367.2m shares reported held*
$35.7bnreported value*
82 new 214 added 123 reduced 64 sold out net bought ≈ $2.8bn (+30.9m 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 ($88.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $97.31. Options: 51 managers hold calls ($3.1bn notional), 51 hold puts ($2.7bn).

Trends to Q3 2023

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 413Q4 22: 453Q1 23: 472Q2 23: 455Q3 23: 475475Q3 22Q4 22Q1 23Q2 23Q3 23
Numbers
QuarterHolders
Q3 2022413
Q4 2022453
Q1 2023472
Q2 2023455
Q3 2023475

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 23Q2 23: 208 bought or addedQ2 23: 266 cut or sold outQ2 23Q3 23: 296 bought or addedQ3 23: 187 cut or sold outQ3 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022259181
Q1 2023266223
Q2 2023208266
Q3 2023296187

Calls vs puts

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

CallsPuts
$0$1bn$2bn$3bn$4bnQ4 22 calls: $2.5bnQ4 22 puts: $2.3bnQ4 22P/C 0.95Q1 23 calls: $1.9bnQ1 23 puts: $2.4bnQ1 23P/C 1.26Q2 23 calls: $1.6bnQ2 23 puts: $1.5bnQ2 23P/C 0.93Q3 23 calls: $3.1bnQ3 23 puts: $2.7bnQ3 23P/C 0.87
Numbers
QuarterCallsPutsP/C
Q4 2022$2.5bn$2.3bn0.95
Q1 2023$1.9bn$2.4bn1.26
Q2 2023$1.6bn$1.5bn0.93
Q3 2023$3.1bn$2.7bn0.87

Biggest buyers

SC US (TTGP), LTD. Added +11,262,075+11.3m
VANGUARD GROUP INC Added +6,637,418+6.6m
BAILLIE GIFFORD & CO Added +4,501,126+4.5m
FMR LLC Added +4,334,186+4.3m
BlackRock Inc. Added +3,737,855+3.7m
CANADA LIFE ASSURANCE Co Added +3,591,932+3.6m
GQG Partners LLC New +2,869,409+2.9m
Capital Today Evergreen Fund, L.P. New +2,453,900+2.5m
FIL Ltd Added +2,337,672+2.3m
SRS Investment Management, LLC Added +1,844,111+1.8m

Biggest sellers

MORGAN STANLEY Reduced -6,358,891-6.4m
CANADA PENSION PLAN INVESTMENT BOARD Sold out -4,962,806-5.0m
Assenagon Asset Management S.A. Reduced -4,818,878-4.8m
HSBC HOLDINGS PLC Reduced -2,599,554-2.6m
GOLDMAN SACHS GROUP INC Reduced -2,278,819-2.3m
Tairen Capital Ltd Reduced -1,768,461-1.8m
ALKEON CAPITAL MANAGEMENT LLC Sold out -1,513,241-1.5m
Parallax Volatility Advisers, L.P. Reduced -1,394,298-1.4m
MARSHALL WACE, LLP Reduced -1,056,422-1.1m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -975,268-975.3k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $606.1m6.2m shares
JANE STREET GROUP, LLC Added $475.1m4.8m shares
CITADEL ADVISORS LLC Added $271.7m2.8m shares
Parallax Volatility Advisers, L.P. Added $219.2m2.2m shares
Squarepoint Ops LLC Added $166.6m1.7m shares
Walleye Trading LLC Added $160.8m1.6m shares
SIMPLEX TRADING, LLC Added $149.4m1.5m shares
D. E. Shaw & Co., Inc. Added $144.5m1.5m shares
PEAK6 Investments LLC Added $124.6m1.3m shares
GOLDMAN SACHS GROUP INC Added $121.6m1.2m shares

Biggest puts

GOLDMAN SACHS GROUP INC Added $556.7m5.7m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $295.7m3.0m shares
Squarepoint Ops LLC Added $193.7m2.0m shares
JANE STREET GROUP, LLC Reduced $192.6m2.0m shares
Parallax Volatility Advisers, L.P. Reduced $178.2m1.8m shares
Walleye Trading LLC Added $135.5m1.4m shares
CITADEL ADVISORS LLC Added $133.3m1.4m shares
MILLENNIUM MANAGEMENT LLC Added $131.2m1.3m shares
SIMPLEX TRADING, LLC Reduced $107.2m1.1m shares
D. E. Shaw & Co., Inc. Added $93.8m956.3k 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 Q3 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 Q3 2023.

Holders, Q3 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BAILLIE GIFFORD & CO 3.19% of their portfolio EDINBURGH, X0 35,668,17035.7m $3.5bn $3.5bn 3.19% Added +4.5m +4,501,126
2 BlackRock Inc. 0.08% of their portfolio New York, NY 27,875,10927.9m $2.7bn $2.7bn 0.08% Added +3.7m +3,737,855
3 VANGUARD GROUP INC 0.06% of their portfolio Valley Forge, PA 24,101,61524.1m $2.4bn $2.4bn 0.06% Added +6.6m +6,637,418
4 FMR LLC 0.15% of their portfolio BOSTON, MA 17,635,10417.6m $1.7bn $1.7bn 0.15% Added +4.3m +4,334,186
5 SC US (TTGP), LTD. 13.05% of their portfolio Menlo Park, CA 14,447,09714.4m $1.4bn $1.4bn 13.05% Added +11.3m +11,262,075
6 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.55% of their portfolio NEW YORK, NY 12,551,44912.6m $1.2bn $1.2bn 0.55% Added +1.5m +1,527,286
7 STATE STREET CORP 0.06% of their portfolio BOSTON, MA 10,383,45910.4m $1.0bn $1.0bn 0.06% Added +520.4k +520,437
8 MORGAN STANLEY 0.09% of their portfolio NEW YORK, NY 9,072,3979.1m $889.7m $889.7m 0.09% Reduced -6.4m -6,358,891
9 IDG China Venture Capital Fund IV Associates L.P. 98.71% of their portfolio HONG KONG, K3 7,705,5457.7m $755.7m $755.7m 98.71% Reduced -478.0k -477,969
10 HHLR ADVISORS, LTD. 16.10% of their portfolio GRAND CAYMAN, E9 7,350,8477.4m $720.9m $720.9m 16.10% Reduced -821.4k -821,400
11 Invesco Ltd. 0.19% of their portfolio ATLANTA, GA 7,349,4307.3m $720.8m $720.8m 0.19% Added +376.9k +376,947
12 NORGES BANK 0.14% of their portfolio OSLO, Q8 7,164,8077.2m $702.7m $702.7m 0.14% Added +1.1m +1,134,697
13 Krane Funds Advisors LLC 23.49% of their portfolio NEW YORK, NY 5,837,5725.8m $572.5m $572.5m 23.49% Added +710.4k +710,439
14 FIL Ltd 0.63% of their portfolio HAMILTON, D0 5,496,7195.5m $539.1m $539.1m 0.63% Added +2.3m +2,337,672
15 JPMORGAN CHASE & CO 0.06% of their portfolio NEW YORK, NY 5,334,4495.3m $523.1m $523.1m 0.06% Added +543.4k +543,440
16 GOLDMAN SACHS GROUP INC 0.13% of their portfolio NEW YORK, NY 5,277,4075.3m $517.6m $517.6m 0.13% Reduced -2.3m -2,278,819
17 Greenwoods Asset Management Hong Kong Ltd. 19.84% of their portfolio HONG KONG, K3 5,158,6165.2m $505.9m $505.9m 19.84% Added +456.9k +456,950
18 E Fund Management Co., Ltd. 34.73% of their portfolio GUANGZHOU, F4 4,654,4434.7m $456.5m $456.5m 34.73% Added +87.3k +87,270
19 CANADA LIFE ASSURANCE Co 0.41% of their portfolio WINNIPEG, A2 4,372,6654.4m $171.6m $171.6m 0.41% Added +3.6m +3,591,932
20 SRS Investment Management, LLC 6.07% of their portfolio New York, NY 4,290,5134.3m $420.8m $420.8m 6.07% Added +1.8m +1,844,111
21 PRICE T ROWE ASSOCIATES INC /MD/ 0.06% of their portfolio BALTIMORE, MD 4,016,6804.0m $393.9m $393.9m 0.06% Added +498.9k +498,897
22 Legal & General Group Plc 0.13% of their portfolio London, X0 3,670,7683.7m $360.0m $360.0m 0.13% Reduced -170.5k -170,486
23 GEODE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio BOSTON, MA 3,581,2493.6m $349.6m $349.6m 0.04% Added +587.5k +587,450
24 Robeco Institutional Asset Management B.V. 0.88% of their portfolio ROTTERDAM, P7 3,351,9153.4m $328.7m $328.7m 0.88% Added +34.9k +34,943
25 OLP CAPITAL MANAGEMENT Ltd 62.32% of their portfolio CAUSEWAY BAY, K3 3,325,6023.3m $326.1m $326.1m 62.32% Added +353.1k +353,060
26 Dragoneer Investment Group, LLC 6.85% of their portfolio SAN FRANCISCO, CA 3,035,4183.0m $297.7m $297.7m 6.85% Added +437.7k +437,684
27 BNP PARIBAS FINANCIAL MARKETS 0.63% of their portfolio PARIS, I0 2,909,8052.9m $285.4m $285.4m 0.63% Added +709.6k +709,589
28 GQG Partners LLC 0.65% of their portfolio FT. LAUDERDALE, FL 2,869,4092.9m $281.4m $281.4m 0.65% New
29 Bridgewater Associates, LP 1.61% of their portfolio Westport, CT 2,708,9212.7m $265.7m $265.7m 1.61% Reduced -22.6k -22,591
30 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.31% of their portfolio BOSTON, MA 2,636,2702.6m $258.5m $258.5m 0.31% Added +49.1k +49,111
31 Capital Today Evergreen Fund, L.P. 76.30% of their portfolio Grand Cayman, E9 2,453,9002.5m $240.7m $240.7m 76.30% New
32 BANK OF AMERICA CORP /DE/ 0.03% of their portfolio CHARLOTTE, NC 2,414,2952.4m $236.8m $236.8m 0.03% Added +321.9k +321,930
33 Nuveen Asset Management, LLC 0.08% of their portfolio CHICAGO, IL 2,305,1762.3m $226.1m $226.1m 0.08% Added +584.2k +584,213
34 First Beijing Investment Ltd 41.96% of their portfolio HONG KONG, K3 2,221,9472.2m $217.9m $217.9m 41.96% Added +147.6k +147,647
35 NORTHERN TRUST CORP 0.04% of their portfolio CHICAGO, IL 2,008,6272.0m $197.0m $197.0m 0.04% Added +238.0k +237,956
36 CoreView Capital Management Ltd 21.27% of their portfolio HONG KONG, K3 1,962,4512.0m $192.5m $192.5m 21.27% Added +517.5k +517,509
37 Newlands Management Operations LLC 2.04% of their portfolio DALLAS, TX 1,949,0401.9m $191.1m $191.1m 2.04% Unchanged
38 HSBC HOLDINGS PLC 0.21% of their portfolio LONDON, X0 1,917,5231.9m $188.1m $188.1m 0.21% Reduced -2.6m -2,599,554
39 Genesis Investment Management, LLP 26.04% of their portfolio London, X0 1,901,4101.9m $186.5m $186.5m 26.04% Reduced -536.2k -536,177
40 UBS Group AG 0.08% of their portfolio ZURICH, V8 1,884,9681.9m $184.9m $184.9m 0.08% Added +400.0k +399,996
41 RWC ASSET ADVISORS (US) LLC 17.70% of their portfolio MIAMI, FL 1,883,7091.9m $184.7m $184.7m 17.70% Added +59.0k +58,953
42 Fisher Asset Management, LLC 0.10% of their portfolio PLANO, TX 1,816,9251.8m $178.2m $178.2m 0.10% Reduced -17.1k -17,104
43 Mirae Asset Global Investments Co., Ltd. 0.38% of their portfolio SEOUL, M5 1,787,6041.8m $171.4m $171.4m 0.38% Reduced -52.3k -52,308
44 Pictet Asset Management Holding SA 0.21% of their portfolio CAROUGE, V8 1,736,4011.7m $170.3m $170.3m 0.21% First filing
45 PUBLIC INVESTMENT FUND 0.46% of their portfolio AL AQIQ DISTRICT, RIYADH, T0 1,703,2751.7m $167.0m $167.0m 0.46% Added +531.7k +531,705
46 Bank of New York Mellon Corp 0.04% of their portfolio NEW YORK, NY 1,679,7601.7m $164.7m $164.7m 0.04% Added +301.1k +301,141
47 Whale Rock Capital Management LLC 3.31% of their portfolio Boston, MA 1,670,9001.7m $163.9m $163.9m 3.31% Added +829.0k +828,958
48 WT Asset Management Ltd 18.07% of their portfolio HONG KONG, K3 1,659,3781.7m $162.7m $162.7m 18.07% Added +480.0k +480,036
49 HSG Holding Ltd 16.75% of their portfolio NA, K3 1,592,5101.6m $156.2m $156.2m 16.75% Unchanged
50 PLATINUM INVESTMENT MANAGEMENT LTD 5.66% of their portfolio SYDNEY AUSTRALIA 2000, C3 1,481,3701.5m $145.3m $145.3m 5.66% Added +393.3k +393,344
51 Sumitomo Mitsui Trust Group, Inc. 0.12% of their portfolio CHIYODA-KU, TOKYO, M0 1,446,6061.4m $141.9m $141.9m 0.12% Added +99.4k +99,379
52 Cederberg Capital Ltd 38.56% of their portfolio LONDON, X0 1,403,7001.4m $137.7m $137.7m 38.56% Added +42.2k +42,200
53 APPALOOSA LP 2.71% of their portfolio Short Hills, NJ 1,400,0001.4m $137.3m $137.3m 2.71% Added +650.0k +650,000
54 Swiss National Bank 0.11% of their portfolio ZURICH, V8 1,392,0401.4m $136.5m $136.5m 0.11% Added +110.9k +110,903
55 DEUTSCHE BANK AG\ 0.09% of their portfolio FRANKFURT AM MAIN, 2M 1,368,4741.4m $134.2m $134.2m 0.09% Reduced -246.3k -246,349
56 TIGER GLOBAL MANAGEMENT LLC 0.99% of their portfolio New York, NY 1,368,4001.4m $134.2m $134.2m 0.99% New
57 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 1,337,3451.3m $131.2m $131.2m 0.04% Added +417.0k +417,002
58 Trivest Advisors Ltd 9.19% of their portfolio Hong Kong, K3 1,269,9001.3m $124.5m $124.5m 9.19% Added +214.5k +214,500
59 Allianz Asset Management GmbH 0.25% of their portfolio MUNICH, 2M 1,268,4631.3m $124.4m $124.4m 0.25% Added +468.3k +468,282
60 Vontobel Holding Ltd. 1.11% of their portfolio ZURICH, V8 1,224,3311.2m $120.1m $120.1m 1.11% Reduced -688.2k -688,152
61 FIRST TRUST ADVISORS LP 0.13% of their portfolio Wheaton, IL 1,141,4301.1m $111.9m $111.9m 0.13% Added +100.2k +100,231
62 Aspex Management (HK) Ltd 3.42% of their portfolio CENTRAL, K3 1,134,4111.1m $111.3m $111.3m 3.42% New
63 Perseverance Asset Management International 28.33% of their portfolio GEORGE TOWN, E9 1,116,3051.1m $109.5m $109.5m 28.33% Reduced -574.4k -574,363
64 California Public Employees Retirement System 0.09% of their portfolio Sacramento, CA 1,114,7331.1m $109.3m $109.3m 0.09% Added +325.4k +325,367
65 MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC 13.00% of their portfolio SAN FRANCISCO, CA 1,096,2381.1m $107.5m $107.5m 13.00% Added +107.4k +107,359
66 1832 Asset Management L.P. 0.22% of their portfolio TORONTO, A6 1,080,2001.1m $105.9m $105.9m 0.22% Added +1.1m +1,068,200
67 CREDIT SUISSE AG/ 0.10% of their portfolio ZURICH, V8 960,144960.1k $94.2m $94.2m 0.10% Added +1.4k +1,382
68 BARCLAYS PLC 0.06% of their portfolio LONDON, X0 953,323953.3k $93.5m $93.5m 0.06% Added +188.1k +188,054
69 FIRST MANHATTAN CO. LLC. 0.33% of their portfolio NEW YORK, NY 911,290911.3k $89.4m $89.4m 0.33% Unchanged
70 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.44% of their portfolio JUPITER, FL 907,834907.8k $89.0m $89.0m 0.44% Added +399.7k +399,741
71 IvyRock Asset Management (HK) Ltd 45.94% of their portfolio SHEUNG WAN, K3 897,636897.6k $88.0m $88.0m 45.94% Added +92.4k +92,400
72 COATUE MANAGEMENT LLC 0.44% of their portfolio New York, NY 876,210876.2k $85.9m $85.9m 0.44% Added +64.7k +64,687
73 Origin Asset Management LLP 28.09% of their portfolio LONDON, X0 860,547860.5k $84.4m $84.4m 28.09% Added +292.0k +292,000
74 VICTORY CAPITAL MANAGEMENT INC 0.10% of their portfolio San Antonio, TX 860,389860.4k $84.4m $84.4m 0.10% Added +64.2k +64,229
75 AQR CAPITAL MANAGEMENT LLC 0.16% of their portfolio Greenwich, CT 808,589808.6k $79.3m $79.3m 0.16% Added +109.9k +109,855
76 Fullerton Fund Management Co Ltd. 5.54% of their portfolio SINGAPORE, U0 806,419806.4k $79.1m $79.1m 5.54% Reduced -311.6k -311,612
77 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio SAN FRANCISCO, CA 801,931801.9k $78.6m $78.6m 0.02% Added +213.4k +213,368
78 Tairen Capital Ltd 10.83% of their portfolio HONG KONG, K3 785,288785.3k $77.0m $77.0m 10.83% Reduced -1.8m -1,768,461
79 KEYSTONE INVESTORS PTE LTD 9.11% of their portfolio SINGAPORE, U0 781,029781.0k $76.6m $76.6m 9.11% Added +387.5k +387,507
80 Harvest Fund Management Co., Ltd 13.36% of their portfolio BEIJING, F4 779,889779.9k $76.5m $76.5m 13.36% Added +158.4k +158,421
81 APG Asset Management N.V. 0.15% of their portfolio Amsterdam, P7 765,028765.0k $75.0m $75.0m 0.15% Reduced -39.1k -39,100
82 JANE STREET GROUP, LLC 0.11% of their portfolio NEW YORK, NY 723,245723.2k $70.9m $70.9m 0.11% Added +101.6k +101,630
83 DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio AUSTIN, TX 721,853721.9k $70.8m $70.8m 0.02% Added +317.3k +317,316
84 Franchise Capital Ltd 25.12% of their portfolio GRAND CAYMAN, E9 715,636715.6k $70.2m $70.2m 25.12% Reduced -128.0k -128,000
85 LORD, ABBETT & CO. LLC 0.13% of their portfolio JERSEY CITY, NJ 710,860710.9k $69.7m $69.7m 0.13% Added +703.3k +703,342
86 Mitsubishi UFJ Trust & Banking Corp 0.17% of their portfolio TOKYO, M0 705,969706.0k $69.2m $69.2m 0.17% Reduced -21.1k -21,065
87 MILLENNIUM MANAGEMENT LLC 0.07% of their portfolio NEW YORK, NY 704,476704.5k $69.1m $69.1m 0.07% Reduced -490.4k -490,366
88 ACADIAN ASSET MANAGEMENT LLC 0.29% of their portfolio Boston, MA 701,229701.2k $68.8m $68.8m 0.29% Added +36.3k +36,293
89 SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 4.44% of their portfolio BALA CYNWYD, PA 696,962697.0k $68.4m $68.4m 4.44% Unchanged
90 Kora Management LP 17.21% of their portfolio BROOKLYN, NY 679,250679.2k $66.6m $66.6m 17.21% Added +406.5k +406,500
91 ProShare Advisors LLC 0.20% of their portfolio BETHESDA, MD 667,589667.6k $65.5m $65.5m 0.20% Added +111.6k +111,571
92 SCHRODER INVESTMENT MANAGEMENT GROUP 0.10% of their portfolio London, X0 665,829665.8k $65.3m $65.3m 0.10% Reduced -39.0k -38,950
93 CAUSEWAY CAPITAL MANAGEMENT LLC 1.72% of their portfolio LOS ANGELES, CA 663,897663.9k $65.1m $65.1m 1.72% Reduced -164.3k -164,298
94 PRUDENTIAL PLC 0.75% of their portfolio LONDON, X0 659,575659.6k $64.7m $64.7m 0.75% Added +41.1k +41,133
95 Altimeter Capital Management, LP 1.20% of their portfolio MENLO PARK, CA 646,280646.3k $63.4m $63.4m 1.20% New
96 Sylebra Capital Ltd 3.32% of their portfolio HONG KONG, K3 636,721636.7k $62.4m $62.4m 3.32% Added +3.0k +3,016
97 SYLEBRA CAPITAL LLC 3.32% of their portfolio PALO ALTO, CA 636,721636.7k $62.4m $62.4m 3.32% First filing
98 Coronation Fund Managers Ltd. 1.85% of their portfolio Cape Town, T3 627,699627.7k $61.6m $61.6m 1.85% Reduced -299.0k -299,001
99 PRINCIPAL FINANCIAL GROUP INC 0.04% of their portfolio DES MOINES, IA 622,684622.7k $61.1m $61.1m 0.04% Reduced -626.9k -626,931
100 Assenagon Asset Management S.A. 0.21% of their portfolio SENNINGERBERG, N4 601,700601.7k $59.0m $59.0m 0.21% Reduced -4.8m -4,818,878