Vault-13

PDD HOLDINGS INC PDD

SPONSORED ADS · ADR · CUSIP 722304102 · ISIN US7223041028

587 institutional holders +112 vs Q3 2023
400,381,043400.4m shares reported held*
$58.5bnreported value*
131 new 219 added 154 reduced 40 sold out net bought ≈ $5.1bn (+32.6m 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 ($177.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $146.22. Options: 59 managers hold calls ($6.0bn notional), 54 hold puts ($5.1bn).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 413Q4 22: 453Q1 23: 472Q2 23: 455Q3 23: 475Q4 23: 587587Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 2022413
Q4 2022453
Q1 2023472
Q2 2023455
Q3 2023475
Q4 2023587

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 23Q4 23: 350 bought or addedQ4 23: 194 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022259181
Q1 2023266223
Q2 2023208266
Q3 2023296187
Q4 2023350194

Calls vs puts

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

CallsPuts
$0$2bn$4bn$6bn$8bnQ1 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 0.87Q4 23 calls: $6.0bnQ4 23 puts: $5.1bnQ4 23P/C 0.85
Numbers
QuarterCallsPutsP/C
Q1 2023$1.9bn$2.4bn1.26
Q2 2023$1.6bn$1.5bn0.93
Q3 2023$3.1bn$2.7bn0.87
Q4 2023$6.0bn$5.1bn0.85

Biggest buyers

MORGAN STANLEY Added +14,634,949+14.6m
JPMORGAN CHASE & CO Added +6,448,311+6.4m
HHLR ADVISORS, LTD. Added +2,760,100+2.8m
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC New +2,300,793+2.3m
BAILLIE GIFFORD & CO Added +2,292,068+2.3m
MARSHALL WACE, LLP Added +2,223,140+2.2m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +2,214,955+2.2m
SCHRODER INVESTMENT MANAGEMENT GROUP Added +2,072,548+2.1m
JANE STREET GROUP, LLC Added +1,989,378+2.0m
Ninety One UK Ltd New +1,610,734+1.6m

Biggest sellers

CANADA LIFE ASSURANCE Co Reduced -3,457,807-3.5m
IDG China Venture Capital Fund IV Associates L.P. Reduced -3,017,145-3.0m
Invesco Ltd. Reduced -2,689,444-2.7m
Krane Funds Advisors LLC Reduced -2,637,898-2.6m
FIL Ltd Reduced -1,437,971-1.4m
WT Asset Management Ltd Reduced -1,384,248-1.4m
BANK OF AMERICA CORP /DE/ Reduced -1,247,107-1.2m
Genesis Investment Management, LLP Reduced -958,352-958.4k
Dragoneer Investment Group, LLC Reduced -937,966-938.0k
NORTHERN TRUST CORP Reduced -869,355-869.4k

Biggest calls

JANE STREET GROUP, LLC Added $1.4bn9.7m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.1bn7.4m shares
Parallax Volatility Advisers, L.P. Added $386.3m2.6m shares
CITADEL ADVISORS LLC Reduced $360.4m2.5m shares
Squarepoint Ops LLC Added $309.2m2.1m shares
Walleye Trading LLC Added $285.1m1.9m shares
SIMPLEX TRADING, LLC Added $264.1m1.8m shares
D. E. Shaw & Co., Inc. Added $258.3m1.8m shares
BARCLAYS PLC New $213.0m1.5m shares
UBS Group AG Added $192.9m1.3m shares

Biggest puts

GOLDMAN SACHS GROUP INC Added $856.4m5.9m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $577.3m3.9m shares
JANE STREET GROUP, LLC Added $514.0m3.5m shares
Squarepoint Ops LLC Added $414.2m2.8m shares
CITADEL ADVISORS LLC Added $353.5m2.4m shares
MILLENNIUM MANAGEMENT LLC Added $349.0m2.4m shares
Parallax Volatility Advisers, L.P. Reduced $203.8m1.4m shares
Walleye Trading LLC Reduced $180.3m1.2m shares
SIMPLEX TRADING, LLC Added $178.1m1.4m shares
UBS Group AG Added $141.3m965.9k 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.

Insider purchases and sales in Q4 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 Q4 2023.

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BAILLIE GIFFORD & CO 4.40% of their portfolio EDINBURGH, X0 37,960,23838.0m $5.6bn $5.6bn 4.40% Added +2.3m +2,292,068
2 BlackRock Inc. 0.10% of their portfolio New York, NY 27,403,21927.4m $4.0bn $4.0bn 0.10% Reduced -471.9k -471,890
3 VANGUARD GROUP INC 0.08% of their portfolio Valley Forge, PA 24,163,92724.2m $3.5bn $3.5bn 0.08% Added +62.3k +62,312
4 MORGAN STANLEY 0.15% of their portfolio NEW YORK, NY 23,707,34623.7m $3.5bn $3.5bn 0.15% Added +14.6m +14,634,949
5 FMR LLC 0.20% of their portfolio BOSTON, MA 18,094,44518.1m $2.6bn $2.6bn 0.20% Added +459.3k +459,341
6 SC US (TTGP), LTD. 17.43% of their portfolio Menlo Park, CA 14,447,09714.4m $2.1bn $2.1bn 17.43% Unchanged
7 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.70% of their portfolio NEW YORK, NY 12,127,07512.1m $1.8bn $1.8bn 0.70% Reduced -424.4k -424,374
8 JPMORGAN CHASE & CO 0.09% of their portfolio NEW YORK, NY 11,782,76011.8m $1.7bn $1.7bn 0.09% Added +6.4m +6,448,311
9 STATE STREET CORP 0.07% of their portfolio BOSTON, MA 10,400,25110.4m $1.5bn $1.5bn 0.07% Added +16.8k +16,792
10 HHLR ADVISORS, LTD. 29.81% of their portfolio GRAND CAYMAN, E9 10,110,94710.1m $1.5bn $1.5bn 29.81% Added +2.8m +2,760,100
11 NORGES BANK 0.19% of their portfolio OSLO, Q8 7,348,5927.3m $1.1bn $1.1bn 0.19% Added +183.8k +183,785
12 GOLDMAN SACHS GROUP INC 0.18% of their portfolio NEW YORK, NY 5,456,2135.5m $798.3m $798.3m 0.18% Added +178.8k +178,806
13 PRICE T ROWE ASSOCIATES INC /MD/ 0.10% of their portfolio BALTIMORE, MD 4,917,0704.9m $719.4m $719.4m 0.10% Added +900.4k +900,390
14 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.74% of their portfolio BOSTON, MA 4,851,2254.9m $709.8m $709.8m 0.74% Added +2.2m +2,214,955
15 Greenwoods Asset Management Hong Kong Ltd. 24.73% of their portfolio HONG KONG, K3 4,735,3694.7m $692.8m $692.8m 24.73% Reduced -423.2k -423,247
16 IDG China Venture Capital Fund IV Associates L.P. 98.79% of their portfolio HONG KONG, K3 4,688,4004.7m $686.0m $686.0m 98.79% Reduced -3.0m -3,017,145
17 Invesco Ltd. 0.16% of their portfolio ATLANTA, GA 4,659,9864.7m $681.8m $681.8m 0.16% Reduced -2.7m -2,689,444
18 E Fund Management Co., Ltd. 42.48% of their portfolio GUANGZHOU, F4 4,581,9404.6m $670.4m $670.4m 42.48% Reduced -72.5k -72,503
19 SRS Investment Management, LLC 7.60% of their portfolio New York, NY 4,290,5134.3m $627.7m $627.7m 7.60% Unchanged
20 FIL Ltd 0.62% of their portfolio HAMILTON, D0 4,058,7484.1m $593.8m $593.8m 0.62% Reduced -1.4m -1,437,971
21 GEODE CAPITAL MANAGEMENT, LLC 0.06% of their portfolio BOSTON, MA 3,837,8483.8m $558.4m $558.4m 0.06% Added +256.6k +256,599
22 Legal & General Group Plc 0.17% of their portfolio London, X0 3,789,9533.8m $554.5m $554.5m 0.17% Added +119.2k +119,185
23 Krane Funds Advisors LLC 19.52% of their portfolio NEW YORK, NY 3,199,6743.2m $468.1m $468.1m 19.52% Reduced -2.6m -2,637,898
24 OLP CAPITAL MANAGEMENT Ltd 68.42% of their portfolio CAUSEWAY BAY, K3 3,041,8813.0m $445.1m $445.1m 68.42% Reduced -283.7k -283,721
25 GQG Partners LLC 0.89% of their portfolio FT. LAUDERDALE, FL 2,874,1792.9m $420.5m $420.5m 0.89% Added +4.8k +4,770
26 HSBC HOLDINGS PLC 0.39% of their portfolio LONDON, X0 2,873,4742.9m $420.4m $420.4m 0.39% Added +956.0k +955,951
27 SCHRODER INVESTMENT MANAGEMENT GROUP 0.52% of their portfolio London, X0 2,738,3772.7m $400.7m $400.7m 0.52% Added +2.1m +2,072,548
28 JANE STREET GROUP, LLC 0.48% of their portfolio NEW YORK, NY 2,712,6232.7m $396.9m $396.9m 0.48% Added +2.0m +1,989,378
29 MARSHALL WACE, LLP 0.75% of their portfolio LONDON, X0 2,700,5062.7m $395.1m $395.1m 0.75% Added +2.2m +2,223,140
30 BNP PARIBAS FINANCIAL MARKETS 0.68% of their portfolio PARIS, I0 2,546,7002.5m $372.6m $372.6m 0.68% Reduced -363.1k -363,105
31 Robeco Institutional Asset Management B.V. 0.89% of their portfolio ROTTERDAM, P7 2,507,5362.5m $366.9m $366.9m 0.89% Reduced -844.4k -844,379
32 Capital Today Evergreen Fund, L.P. 95.27% of their portfolio Grand Cayman, E9 2,453,9002.5m $359.0m $359.0m 95.27% Unchanged
33 Bridgewater Associates, LP 2.00% of their portfolio Westport, CT 2,436,6552.4m $356.5m $356.5m 2.00% Reduced -272.3k -272,266
34 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.98% of their portfolio CHICAGO, IL 2,300,7932.3m $336.5m $336.5m 0.98% New
35 Tairen Capital Ltd 23.19% of their portfolio HONG KONG, K3 2,263,4372.3m $331.2m $331.2m 23.19% Added +1.5m +1,478,149
36 Nuveen Asset Management, LLC 0.10% of their portfolio CHICAGO, IL 2,102,5672.1m $307.6m $307.6m 0.10% Reduced -202.6k -202,609
37 Dragoneer Investment Group, LLC 6.66% of their portfolio SAN FRANCISCO, CA 2,097,4522.1m $306.9m $306.9m 6.66% Reduced -938.0k -937,966
38 CoreView Capital Management Ltd 33.36% of their portfolio HONG KONG, K3 1,962,4512.0m $287.1m $287.1m 33.36% Unchanged
39 ACADIAN ASSET MANAGEMENT LLC 1.11% of their portfolio Boston, MA 1,958,8002.0m $286.6m $286.6m 1.11% Added +1.3m +1,257,571
40 Newlands Management Operations LLC 2.62% of their portfolio DALLAS, TX 1,949,0401.9m $285.2m $285.2m 2.62% Unchanged
41 UBS Group AG 0.11% of their portfolio ZURICH, V8 1,938,3901.9m $283.6m $283.6m 0.11% Added +53.4k +53,422
42 RWC ASSET ADVISORS (US) LLC 22.28% of their portfolio MIAMI, FL 1,923,7911.9m $281.5m $281.5m 22.28% Added +40.1k +40,082
43 Altimeter Capital Management, LP 4.57% of their portfolio MENLO PARK, CA 1,882,7701.9m $275.5m $275.5m 4.57% Added +1.2m +1,236,490
44 First Beijing Investment Ltd 44.04% of their portfolio HONG KONG, K3 1,819,3931.8m $266.2m $266.2m 44.04% Reduced -402.6k -402,554
45 LORD, ABBETT & CO. LLC 0.46% of their portfolio JERSEY CITY, NJ 1,760,7121.8m $257.6m $257.6m 0.46% Added +1.0m +1,049,852
46 Fisher Asset Management, LLC 0.13% of their portfolio PLANO, TX 1,726,9131.7m $252.7m $252.7m 0.13% Reduced -90.0k -90,012
47 Whale Rock Capital Management LLC 4.50% of their portfolio Boston, MA 1,719,2721.7m $251.5m $251.5m 4.50% Added +48.4k +48,372
48 PUBLIC INVESTMENT FUND 0.71% of their portfolio AL AQIQ DISTRICT, RIYADH, T0 1,703,2751.7m $249.2m $249.2m 0.71% Unchanged
49 DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio AUSTIN, TX 1,619,7061.6m $237.0m $237.0m 0.07% Added +897.9k +897,853
50 Ninety One UK Ltd 0.70% of their portfolio London, X0 1,610,7341.6m $235.7m $235.7m 0.70% New
51 HSG Holding Ltd 25.64% of their portfolio NA, K3 1,592,5101.6m $223.0m $223.0m 25.64% Unchanged
52 Bank of New York Mellon Corp 0.05% of their portfolio NEW YORK, NY 1,555,4381.6m $227.6m $227.6m 0.05% Reduced -124.3k -124,322
53 Franchise Capital Ltd 29.31% of their portfolio GRAND CAYMAN, E9 1,530,3921.5m $223.9m $223.9m 29.31% Added +814.8k +814,756
54 Mirae Asset Global Investments Co., Ltd. 0.45% of their portfolio SEOUL, M5 1,523,1561.5m $222.9m $222.9m 0.45% Reduced -264.4k -264,448
55 Aspex Management (HK) Ltd 6.37% of their portfolio CENTRAL, K3 1,484,4111.5m $217.2m $217.2m 6.37% Added +350.0k +350,000
56 APG Asset Management N.V. 0.38% of their portfolio Amsterdam, P7 1,477,6041.5m $195.7m $195.7m 0.38% Added +712.6k +712,576
57 Sumitomo Mitsui Trust Group, Inc. 0.16% of their portfolio CHIYODA-KU, TOKYO, M0 1,468,8491.5m $214.9m $214.9m 0.16% Added +22.2k +22,243
58 Cederberg Capital Ltd 47.15% of their portfolio LONDON, X0 1,400,3001.4m $204.9m $204.9m 47.15% Reduced -3.4k -3,400
59 Pictet Asset Management Holding SA 0.22% of their portfolio CAROUGE, V8 1,380,6731.4m $202.0m $202.0m 0.22% Reduced -355.7k -355,728
60 Swiss National Bank 0.14% of their portfolio ZURICH, V8 1,338,9401.3m $195.9m $195.9m 0.14% Reduced -53.1k -53,100
61 DEUTSCHE BANK AG\ 0.10% of their portfolio FRANKFURT AM MAIN, 2M 1,332,2641.3m $194.9m $194.9m 0.10% Reduced -36.2k -36,210
62 AMERIPRISE FINANCIAL INC 0.06% of their portfolio MINNEAPOLIS, MN 1,292,1961.3m $189.1m $189.1m 0.06% Reduced -45.1k -45,149
63 SCGE MANAGEMENT, L.P. 4.17% of their portfolio MENLO PARK, CA 1,276,0001.3m $186.7m $186.7m 4.17% Added +1.2m +1,153,182
64 PLATINUM INVESTMENT MANAGEMENT LTD 7.50% of their portfolio SYDNEY AUSTRALIA 2000, C3 1,261,7211.3m $184.6m $184.6m 7.50% Reduced -219.6k -219,649
65 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 1,167,1881.2m $170.8m $170.8m 0.02% Reduced -1.2m -1,247,107
66 D. E. Shaw & Co., Inc. 0.24% of their portfolio New York, NY 1,149,4081.1m $168.2m $168.2m 0.24% Added +1.1m +1,125,501
67 BARCLAYS PLC 0.09% of their portfolio LONDON, X0 1,149,1901.1m $168.1m $168.1m 0.09% Added +195.9k +195,867
68 NORTHERN TRUST CORP 0.03% of their portfolio CHICAGO, IL 1,139,2721.1m $166.7m $166.7m 0.03% Reduced -869.4k -869,355
69 California Public Employees Retirement System 0.12% of their portfolio Sacramento, CA 1,084,4231.1m $158.7m $158.7m 0.12% Reduced -30.3k -30,310
70 Allianz Asset Management GmbH 0.29% of their portfolio MUNICH, 2M 1,073,9171.1m $157.1m $157.1m 0.29% Reduced -194.5k -194,546
71 Trivest Advisors Ltd 6.95% of their portfolio Hong Kong, K3 1,045,0001.0m $152.9m $152.9m 6.95% Reduced -224.9k -224,900
72 Origin Asset Management LLP 38.41% of their portfolio LONDON, X0 980,548980.5k $143.5m $143.5m 38.41% Added +120.0k +120,001
73 CREDIT SUISSE AG/ 0.14% of their portfolio ZURICH, V8 958,202958.2k $140.2m $140.2m 0.14% Reduced -1.9k -1,942
74 Genesis Investment Management, LLP 27.04% of their portfolio London, X0 943,058943.1k $138.0m $138.0m 27.04% Reduced -958.4k -958,352
75 VICTORY CAPITAL MANAGEMENT INC 0.14% of their portfolio San Antonio, TX 921,380921.4k $134.8m $134.8m 0.14% Added +61.0k +60,991
76 CANADA LIFE ASSURANCE Co 0.29% of their portfolio WINNIPEG, A2 914,858914.9k $133.5m $133.5m 0.29% Reduced -3.5m -3,457,807
77 1832 Asset Management L.P. 0.25% of their portfolio TORONTO, A6 909,900909.9k $133.1m $133.1m 0.25% Reduced -170.3k -170,300
78 FIRST TRUST ADVISORS LP 0.14% of their portfolio Wheaton, IL 856,274856.3k $125.3m $125.3m 0.14% Reduced -285.2k -285,156
79 FIRST MANHATTAN CO. LLC. 0.41% of their portfolio NEW YORK, NY 811,295811.3k $118.7m $118.7m 0.41% Reduced -100.0k -99,995
80 AQR CAPITAL MANAGEMENT LLC 0.21% of their portfolio Greenwich, CT 777,678777.7k $113.4m $113.4m 0.21% Reduced -30.9k -30,911
81 APPALOOSA LP 2.00% of their portfolio Short Hills, NJ 775,000775.0k $113.4m $113.4m 2.00% Reduced -625.0k -625,000
82 Mitsubishi UFJ Trust & Banking Corp 0.27% of their portfolio TOKYO, M0 773,302773.3k $113.1m $113.1m 0.27% Added +67.3k +67,333
83 MILLENNIUM MANAGEMENT LLC 0.11% of their portfolio NEW YORK, NY 771,067771.1k $112.8m $112.8m 0.11% Added +66.6k +66,591
84 Vontobel Holding Ltd. 0.94% of their portfolio ZURICH, V8 768,194768.2k $112.4m $112.4m 0.94% Reduced -456.1k -456,137
85 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio SAN FRANCISCO, CA 758,488758.5k $111.0m $111.0m 0.03% Reduced -43.4k -43,443
86 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.43% of their portfolio JUPITER, FL 740,657740.7k $108.4m $108.4m 0.43% Reduced -167.2k -167,177
87 COATUE MANAGEMENT LLC 0.45% of their portfolio New York, NY 738,420738.4k $108.0m $108.0m 0.45% Reduced -137.8k -137,790
88 PRINCIPAL FINANCIAL GROUP INC 0.07% of their portfolio DES MOINES, IA 726,756726.8k $106.3m $106.3m 0.07% Added +104.1k +104,072
89 KEYSTONE INVESTORS PTE LTD 8.90% of their portfolio SINGAPORE, U0 722,032722.0k $105.6m $105.6m 8.90% Reduced -59.0k -58,997
90 Taikang Asset Management (Hong Kong) Co Ltd 19.78% of their portfolio HONG KONG, K3 714,804714.8k $104.6m $104.6m 19.78% Added +163.8k +163,823
91 MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC 14.57% of their portfolio SAN FRANCISCO, CA 708,584708.6k $103.7m $103.7m 14.57% Reduced -387.7k -387,654
92 Coronation Fund Managers Ltd. 2.88% of their portfolio Cape Town, T3 706,151706.2k $103.3m $103.3m 2.88% Added +78.5k +78,452
93 BARINGS LLC 3.28% of their portfolio CHARLOTTE, NC 704,130704.1k $103.0m $103.0m 3.28% Added +186.2k +186,189
94 NOMURA HOLDINGS INC 0.89% of their portfolio TOKYO, M0 680,792680.8k $99.6m $99.6m 0.89% Added +199.3k +199,336
95 PRUDENTIAL PLC 1.05% of their portfolio LONDON, X0 674,654674.7k $98.7m $98.7m 1.05% Added +15.1k +15,079
96 Pinpoint Asset Management Ltd 21.93% of their portfolio HONG KONG, K3 672,990673.0k $99.1m $99.1m 21.93% Added +299.8k +299,801
97 CAUSEWAY CAPITAL MANAGEMENT LLC 2.45% of their portfolio LOS ANGELES, CA 657,517657.5k $96.2m $96.2m 2.45% Reduced -6.4k -6,380
98 Perseverance Asset Management International 22.65% of their portfolio GEORGE TOWN, E9 649,756649.8k $95.1m $95.1m 22.65% Reduced -466.5k -466,549
99 Fullerton Fund Management Co Ltd. 5.50% of their portfolio SINGAPORE, U0 645,266645.3k $94.4m $94.4m 5.50% Reduced -161.2k -161,153
100 AMERICAN CENTURY COMPANIES INC 0.06% of their portfolio KANSAS CITY, MO 641,293641.3k $93.8m $93.8m 0.06% Added +324.6k +324,625