Vault-13

PDD HOLDINGS INC PDD

SPONSORED ADS · ADR · CUSIP 722304102 · ISIN US7223041028

588 institutional holders -15 vs Q3 2024
400,366,979400.4m shares reported held*
$39.5bnreported value*
78 new 195 added 225 reduced 116 sold out net sold ≈ $2.2bn (-33.8m 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 ($70.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $98.61. Options: 56 managers hold calls ($6.2bn notional), 49 hold puts ($4.8bn).

Trends to Q4 2024

Institutional holders

Managers reporting a position, each quarter

0250500750Q3 22: 413Q4 22: 453Q1 23: 472Q2 23: 455Q3 23: 475Q4 23: 587Q1 24: 579Q2 24: 648Q3 24: 603Q4 24: 588588Q3 22Q1 23Q3 23Q1 24Q3 24Q4 24
Numbers
QuarterHolders
Q3 2022413
Q4 2022453
Q1 2023472
Q2 2023455
Q3 2023475
Q4 2023587
Q1 2024579
Q2 2024648
Q3 2024603
Q4 2024588

Buyers vs sellers

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

Bought or addedCut or sold out
5000500Q1 23: 266 bought or addedQ1 23: 223 cut or sold outQ2 23: 208 bought or addedQ2 23: 266 cut or sold outQ2 23Q3 23: 296 bought or addedQ3 23: 187 cut or sold outQ4 23: 350 bought or addedQ4 23: 194 cut or sold outQ4 23Q1 24: 320 bought or addedQ1 24: 299 cut or sold outQ2 24: 426 bought or addedQ2 24: 238 cut or sold outQ2 24Q3 24: 324 bought or addedQ3 24: 362 cut or sold outQ4 24: 273 bought or addedQ4 24: 341 cut or sold outQ4 24
Numbers
QuarterBought or addedCut or sold out
Q1 2023266223
Q2 2023208266
Q3 2023296187
Q4 2023350194
Q1 2024320299
Q2 2024426238
Q3 2024324362
Q4 2024273341

Calls vs puts

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

CallsPuts
$0$5bn$10bn$15bnQ1 24 calls: $3.4bnQ1 24 puts: $4.3bnQ1 24P/C 1.26Q2 24 calls: $7.9bnQ2 24 puts: $6.3bnQ2 24P/C 0.79Q3 24 calls: $11.1bnQ3 24 puts: $7.4bnQ3 24P/C 0.66Q4 24 calls: $6.2bnQ4 24 puts: $4.8bnQ4 24P/C 0.78
Numbers
QuarterCallsPutsP/C
Q1 2024$3.4bn$4.3bn1.26
Q2 2024$7.9bn$6.3bn0.79
Q3 2024$11.1bn$7.4bn0.66
Q4 2024$6.2bn$4.8bn0.78

Biggest buyers

Sanders Capital, LLC New +5,154,878+5.2m
FMR LLC Added +4,673,022+4.7m
FIL Ltd Added +3,350,627+3.4m
H&H International Investment, LLC Added +3,321,100+3.3m
TIGER GLOBAL MANAGEMENT LLC New +2,628,681+2.6m
Capital International Investors New +2,544,833+2.5m
NORTHERN TRUST CORP Added +2,092,160+2.1m
UBS Group AG Added +1,978,932+2.0m
BAILLIE GIFFORD & CO Added +1,942,891+1.9m
Dragoneer Investment Group, LLC Added +1,827,853+1.8m

Biggest sellers

UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduced -12,245,862-12.2m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Sold out -9,477,455-9.5m
JPMORGAN CHASE & CO Reduced -7,674,835-7.7m
Tairen Capital Ltd Reduced -4,803,243-4.8m
GOLDMAN SACHS GROUP INC Reduced -2,756,540-2.8m
COATUE MANAGEMENT LLC Reduced -2,402,908-2.4m
HHLR ADVISORS, LTD. Reduced -2,036,505-2.0m
Assenagon Asset Management S.A. Reduced -1,982,420-2.0m
MORGAN STANLEY Reduced -1,905,767-1.9m
HSG Holding Ltd Reduced -1,848,775-1.8m

Biggest calls

JANE STREET GROUP, LLC Reduced $1.4bn14.4m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.2bn12.8m shares
CITADEL ADVISORS LLC Reduced $697.2m7.2m shares
IMC-Chicago, LLC Reduced $413.5m4.3m shares
GOLDMAN SACHS GROUP INC Reduced $289.7m3.0m shares
SIMPLEX TRADING, LLC Reduced $229.9m2.4m shares
Squarepoint Ops LLC Added $188.0m1.9m shares
D. E. Shaw & Co., Inc. Added $161.8m1.7m shares
GROUP ONE TRADING LLC Added $154.4m1.6m shares
UBS Group AG Added $151.9m1.6m shares

Biggest puts

GOLDMAN SACHS GROUP INC Added $919.3m9.5m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $658.7m6.8m shares
CITADEL ADVISORS LLC Reduced $546.4m5.6m shares
JANE STREET GROUP, LLC Reduced $493.0m5.1m shares
IMC-Chicago, LLC Reduced $276.4m2.8m shares
D. E. Shaw & Co., Inc. Added $219.1m2.3m shares
PEAK6 LLC First filing $199.2m2.1m shares
MILLENNIUM MANAGEMENT LLC Reduced $191.6m2.0m shares
UBS Group AG Added $160.8m1.7m shares
SIMPLEX TRADING, LLC Reduced $144.0m1.5m 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 2024

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 2024.

Holders, Q4 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BAILLIE GIFFORD & CO 2.84% of their portfolio EDINBURGH, X0 38,059,34338.1m $3.7bn $3.7bn 2.84% Added +1.9m +1,942,891
2 BlackRock, Inc. 0.06% of their portfolio New York, NY 32,900,17932.9m $3.2bn $3.2bn 0.06% Reduced -111.0k -110,955
3 VANGUARD GROUP INC 0.05% of their portfolio Valley Forge, PA 28,662,60928.7m $2.8bn $2.8bn 0.05% Added +268.7k +268,662
4 FMR LLC 0.15% of their portfolio BOSTON, MA 25,603,18325.6m $2.5bn $2.5bn 0.15% Added +4.7m +4,673,022
5 HSG Holding Ltd 81.49% of their portfolio NA, K3 13,595,99513.6m $2.0bn $2.0bn 81.49% Reduced -1.8m -1,848,775
6 STATE STREET CORP 0.04% of their portfolio BOSTON, MA 11,527,96311.5m $1.1bn $1.1bn 0.04% Reduced -136.7k -136,744
7 SC US (TTGP), LTD. 8.29% of their portfolio Menlo Park, CA 10,592,63510.6m $1.0bn $1.0bn 8.29% Reduced -1.4m -1,440,361
8 MORGAN STANLEY 0.06% of their portfolio NEW YORK, NY 8,638,6688.6m $837.9m $837.9m 0.06% Reduced -1.9m -1,905,767
9 NORGES BANK 0.11% of their portfolio OSLO, Q8 8,374,5328.4m $812.2m $812.2m 0.11% Reduced -983.7k -983,677
10 FIL Ltd 0.72% of their portfolio HAMILTON, D0 7,978,6228.0m $773.8m $773.8m 0.72% Added +3.4m +3,350,627
11 JPMORGAN CHASE & CO 0.06% of their portfolio NEW YORK, NY 7,760,0037.8m $752.6m $752.6m 0.06% Reduced -7.7m -7,674,835
12 H&H International Investment, LLC 4.83% of their portfolio PALO ALTO, CA 7,228,7007.2m $701.1m $701.1m 4.83% Added +3.3m +3,321,100
13 PRICE T ROWE ASSOCIATES INC /MD/ 0.07% of their portfolio BALTIMORE, MD 6,521,8576.5m $632.6m $632.6m 0.07% Added +1.1m +1,118,855
14 GOLDMAN SACHS GROUP INC 0.11% of their portfolio NEW YORK, NY 5,841,7785.8m $566.6m $566.6m 0.11% Reduced -2.8m -2,756,540
15 GEODE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio BOSTON, MA 5,794,8955.8m $559.5m $559.5m 0.04% Added +1.1m +1,108,390
16 Dragoneer Investment Group, LLC 9.44% of their portfolio SAN FRANCISCO, CA 5,572,0945.6m $540.4m $540.4m 9.44% Added +1.8m +1,827,853
17 APPALOOSA LP 8.04% of their portfolio Short Hills, NJ 5,356,1325.4m $519.5m $519.5m 8.04% Added +55.0k +55,000
18 Sanders Capital, LLC 0.73% of their portfolio West Palm Beach, FL 5,154,8785.2m $500.0m $500.0m 0.73% New
19 UBS Group AG 0.11% of their portfolio ZURICH, V8 5,024,8095.0m $487.4m $487.4m 0.11% Added +2.0m +1,978,932
20 BNP PARIBAS FINANCIAL MARKETS 0.36% of their portfolio PARIS, I0 4,763,8494.8m $462.0m $462.0m 0.36% Added +371.2k +371,175
21 Greenwoods Asset Management Hong Kong Ltd. 14.20% of their portfolio HONG KONG, K3 4,635,5194.6m $449.6m $449.6m 14.20% Added +117.7k +117,733
22 HSBC HOLDINGS PLC 0.26% of their portfolio LONDON, X0 4,287,4084.3m $416.0m $416.0m 0.26% Reduced -74.6k -74,641
23 E Fund Management Co., Ltd. 20.83% of their portfolio GUANGZHOU, F4 4,276,8614.3m $414.8m $414.8m 20.83% Reduced -387.1k -387,111
24 Legal & General Group Plc 0.11% of their portfolio London, X0 4,202,6714.2m $407.6m $407.6m 0.11% Added +47.7k +47,744
25 SRS Investment Management, LLC 5.60% of their portfolio New York, NY 4,064,3814.1m $394.2m $394.2m 5.60% Reduced -287.1k -287,136
26 Assenagon Asset Management S.A. 0.67% of their portfolio SENNINGERBERG, N4 3,823,0143.8m $370.8m $370.8m 0.67% Reduced -2.0m -1,982,420
27 First Beijing Investment Ltd 25.93% of their portfolio HONG KONG, K3 3,765,8093.8m $365.2m $365.2m 25.93% Added +211.1k +211,090
28 Invesco Ltd. 0.07% of their portfolio ATLANTA, GA 3,664,6603.7m $355.4m $355.4m 0.07% Reduced -1.0m -1,007,076
29 NORTHERN TRUST CORP 0.04% of their portfolio CHICAGO, IL 3,236,6863.2m $313.9m $313.9m 0.04% Added +2.1m +2,092,160
30 IDG China Venture Capital Fund IV Associates L.P. 65.53% of their portfolio HONG KONG, K3 2,910,4302.9m $282.3m $282.3m 65.53% Reduced -177.3k -177,300
31 Nuveen Asset Management, LLC 0.08% of their portfolio CHICAGO, IL 2,871,5222.9m $278.5m $278.5m 0.08% Added +170.3k +170,268
32 Krane Funds Advisors LLC 11.21% of their portfolio NEW YORK, NY 2,825,1032.8m $274.0m $274.0m 11.21% Reduced -483.0k -482,997
33 HHLR ADVISORS, LTD. 9.17% of their portfolio GRAND CAYMAN, E9 2,730,2752.7m $264.8m $264.8m 9.17% Reduced -2.0m -2,036,505
34 DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio AUSTIN, TX 2,672,9022.7m $259.0m $259.0m 0.06% Added +186.0k +186,025
35 TIGER GLOBAL MANAGEMENT LLC 0.96% of their portfolio New York, NY 2,628,6812.6m $255.0m $255.0m 0.96% New
36 Capital International Investors 0.05% of their portfolio Los Angeles, CA 2,544,8332.5m $246.8m $246.8m 0.05% New
37 Capital Today Evergreen Fund, L.P. 85.82% of their portfolio Grand Cayman, E9 2,493,5862.5m $241.9m $241.9m 85.82% Added +935.9k +935,854
38 DEUTSCHE BANK AG\ 0.08% of their portfolio FRANKFURT AM MAIN, 2M 2,221,9842.2m $215.5m $215.5m 0.08% Reduced -1.3m -1,343,268
39 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 2,203,9732.2m $213.8m $213.8m 0.02% Reduced -1.1m -1,089,487
40 Robeco Institutional Asset Management B.V. 0.40% of their portfolio ROTTERDAM, P7 2,149,5162.1m $208.5m $208.5m 0.40% Reduced -86.0k -85,959
41 SCHRODER INVESTMENT MANAGEMENT GROUP 0.19% of their portfolio London, X0 2,041,0502.0m $198.0m $198.0m 0.19% Added +406.4k +406,419
42 BARCLAYS PLC 0.09% of their portfolio LONDON, X0 1,874,1251.9m $181.8m $181.8m 0.09% Added +115.8k +115,767
43 Bank of New York Mellon Corp 0.03% of their portfolio NEW YORK, NY 1,829,7861.8m $177.5m $177.5m 0.03% Added +287.0k +286,977
44 PUBLIC INVESTMENT FUND 0.86% of their portfolio AL AQIQ DISTRICT, RIYADH, T0 1,703,2751.7m $165.2m $165.2m 0.86% Unchanged
45 Sumitomo Mitsui Trust Group, Inc. 0.11% of their portfolio CHIYODA-KU, TOKYO, M0 1,662,3471.7m $161.2m $161.2m 0.11% Reduced -18.0k -18,033
46 Perseverance Asset Management International 21.52% of their portfolio GEORGE TOWN, E9 1,646,4251.6m $159.7m $159.7m 21.52% Reduced -111.5k -111,481
47 Swiss National Bank 0.10% of their portfolio ZURICH, V8 1,572,2441.6m $152.5m $152.5m 0.10% Reduced -3.5k -3,500
48 CITIGROUP INC 0.14% of their portfolio NEW YORK, NY 1,521,1401.5m $147.5m $147.5m 0.14% Added +694.6k +694,575
49 MACQUARIE GROUP LTD 0.17% of their portfolio Sydney, NSW 2000, C3 1,448,9591.4m $140.5m $140.5m 0.17% Reduced -56.6k -56,611
50 Aberdeen Group plc 0.26% of their portfolio EDINBURGH, X0 1,397,3191.4m $136.6m $136.6m 0.26% Added +157.1k +157,099
51 Whale Rock Capital Management LLC 1.57% of their portfolio Boston, MA 1,370,2661.4m $132.9m $132.9m 1.57% Reduced -157.1k -157,057
52 Squarepoint Ops LLC 0.33% of their portfolio NEW YORK, NY 1,333,8941.3m $129.4m $129.4m 0.33% Added +653.4k +653,356
53 GF FUND MANAGEMENT CO. LTD. 2.78% of their portfolio GUANGZHOU, F4 1,324,8031.3m $128.5m $128.5m 2.78% First filing
54 PRUDENTIAL PLC 0.64% of their portfolio LONDON, X0 1,305,8091.3m $126.7m $126.7m 0.64% Reduced -112.0k -112,033
55 Bridgewater Associates, LP 0.55% of their portfolio Westport, CT 1,246,8981.2m $120.9m $120.9m 0.55% Reduced -5.0k -4,962
56 KEYWISE CAPITAL MANAGEMENT (HK) Ltd 9.21% of their portfolio HONG KONG, K3 1,147,7601.1m $111.3m $111.3m 9.21% Added +560 +560
57 Pictet Asset Management Holding SA 0.12% of their portfolio CAROUGE, V8 1,116,3241.1m $108.3m $108.3m 0.12% Reduced -473.7k -473,749
58 FIRST TRUST ADVISORS LP 0.09% of their portfolio Wheaton, IL 1,105,5231.1m $107.2m $107.2m 0.09% Reduced -26.8k -26,762
59 NATIONAL BANK OF CANADA /FI/ 0.13% of their portfolio MONTREAL, A8 1,070,1181.1m $103.8m $103.8m 0.13% Reduced -382.0k -381,957
60 Temasek Holdings (Private) Ltd 0.40% of their portfolio SINGAPORE, U0 1,046,8021.0m $101.5m $101.5m 0.40% Added +935.7k +935,741
61 Artisan Partners Limited Partnership 0.16% of their portfolio Milwaukee, WI 1,041,4441.0m $101.0m $101.0m 0.16% Added +375.6k +375,586
62 California Public Employees Retirement System 0.06% of their portfolio Sacramento, CA 993,591993.6k $96.4m $96.4m 0.06% Reduced -89.1k -89,077
63 RENAISSANCE TECHNOLOGIES LLC 0.14% of their portfolio NEW YORK, NY 947,500947.5k $91.9m $91.9m 0.14% Added +341.3k +341,300
64 IvyRock Asset Management (HK) Ltd 40.08% of their portfolio SHEUNG WAN, K3 930,336930.3k $90.2m $90.2m 40.08% Added +91.8k +91,800
65 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio SAN FRANCISCO, CA 927,788927.8k $90.0m $90.0m 0.02% Added +23.8k +23,772
66 CANADA LIFE ASSURANCE Co 0.15% of their portfolio WINNIPEG, A2 900,300900.3k $87.3m $87.3m 0.15% Reduced -25.4k -25,360
67 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio NEW YORK, NY 899,349899.3k $87.2m $87.2m 0.02% Reduced -12.2m -12,245,862
68 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 890,893890.9k $86.4m $86.4m 0.02% Reduced -286.0k -285,996
69 AQR CAPITAL MANAGEMENT LLC 0.11% of their portfolio Greenwich, CT 884,082884.1k $85.7m $85.7m 0.11% Added +35.0k +35,036
70 CITADEL ADVISORS LLC 0.08% of their portfolio MIAMI, FL 841,386841.4k $81.6m $81.6m 0.08% Added +43.3k +43,295
71 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.07% of their portfolio Toronto, A6 830,880830.9k $80.6m $80.6m 0.07% Added +17.8k +17,842
72 MARSHALL WACE, LLP 0.10% of their portfolio LONDON, X0 829,661829.7k $80.5m $80.5m 0.10% Reduced -958.9k -958,851
73 CAT ROCK CAPITAL MANAGEMENT LP 10.43% of their portfolio GREENWICH, CT 822,714822.7k $79.8m $79.8m 10.43% Added +132.6k +132,555
74 ProShare Advisors LLC 0.18% of their portfolio BETHESDA, MD 808,375808.4k $78.4m $78.4m 0.18% Added +105.0k +104,963
75 APG Asset Management N.V. 0.21% of their portfolio Amsterdam, P7 789,528789.5k $74.0m $74.0m 0.21% Added +109.4k +109,400
76 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 788,510788.5k $76.5m $76.5m 0.01% Reduced -99.9k -99,928
77 BARINGS LLC 1.70% of their portfolio CHARLOTTE, NC 738,170738.2k $71.6m $71.6m 1.70% Added +20.2k +20,225
78 MACKENZIE FINANCIAL CORP 0.03% of their portfolio TORONTO ONTARIO, A6 733,827733.8k $70.7m $70.7m 0.03% Added +530.0k +529,950
79 LAZARD ASSET MANAGEMENT LLC 0.10% of their portfolio NEW YORK, NY 727,124727.1k $70.5m $70.5m 0.10% Reduced -10.0k -10,024
80 Tairen Capital Ltd 10.15% of their portfolio HONG KONG, K3 712,134712.1k $69.1m $69.1m 10.15% Reduced -4.8m -4,803,243
81 Russell Investments Group, Ltd. 0.09% of their portfolio Seattle, WA 691,520691.5k $66.8m $66.8m 0.09% Added +221.8k +221,769
82 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.14% of their portfolio TORONTO, A6 687,282687.3k $66.7m $66.7m 0.14% Added +304.8k +304,810
83 BIT Capital GmbH 5.82% of their portfolio BERLIN, 2M 685,365685.4k $66.5m $66.5m 5.82% Added +315.9k +315,919
84 Fisher Asset Management, LLC 0.03% of their portfolio PLANO, TX 682,693682.7k $66.2m $66.2m 0.03% Reduced -15.2k -15,174
85 Triata Capital Ltd 26.88% of their portfolio HONG KONG, K3 668,939668.9k $64.9m $64.9m 26.88% First filing
86 MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC 13.24% of their portfolio SAN FRANCISCO, CA 667,954668.0k $64.8m $64.8m 13.24% Reduced -118.2k -118,165
87 BRILLIANCE ASSET MANAGEMENT LTD 14.12% of their portfolio ADMIRALTY, HONG KONG, K3 646,212646.2k $62.7m $62.7m 14.12% Added +490.9k +490,860
88 Mitsubishi UFJ Asset Management Co., Ltd. 0.06% of their portfolio TOKYO, M0 643,791643.8k $62.3m $62.3m 0.06% Added +25.8k +25,802
89 Franchise Capital Ltd 28.61% of their portfolio GRAND CAYMAN, E9 636,224636.2k $61.7m $61.7m 28.61% Reduced -210.0k -210,000
90 ROYAL LONDON ASSET MANAGEMENT LTD 0.15% of their portfolio UNITED KINGDOM, X0 631,666631.7k $61.3m $61.3m 0.15% Added +630.9k +630,900
91 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.13% of their portfolio CAUSEWAY BAY, K3 621,092621.1k $60.2m $60.2m 0.13% Added +72.7k +72,674
92 Allianz Asset Management GmbH 0.09% of their portfolio MUNICH, 2M 620,898620.9k $60.2m $60.2m 0.09% Reduced -163.6k -163,631
93 AVIVA PLC 0.16% of their portfolio LONDON, X0 616,033616.0k $59.7m $59.7m 0.16% Added +7.1k +7,088
94 Mitsubishi UFJ Trust & Banking Corp 0.13% of their portfolio TOKYO, M0 587,302587.3k $57.0m $57.0m 0.13% Reduced -15.5k -15,462
95 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.02% of their portfolio Boston, MA 578,161578.2k $56.1m $56.1m 0.02% Reduced -91.4k -91,444
96 Polar Capital Holdings Plc 0.31% of their portfolio London, X0 569,612569.6k $55.2m $55.2m 0.31% Added +39.7k +39,717
97 Cederberg Capital Ltd 18.71% of their portfolio LONDON, X0 568,300568.3k $55.1m $55.1m 18.71% Unchanged
98 AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio KANSAS CITY, MO 544,159544.2k $52.8m $52.8m 0.03% Added +37.2k +37,165
99 Korea Investment CORP 0.12% of their portfolio SEOUL, M5 530,787530.8k $51.5m $51.5m 0.12% Reduced -10.7k -10,700
100 Coronation Fund Managers Ltd. 2.99% of their portfolio Cape Town, T3 523,963524.0k $50.8m $50.8m 2.99% Reduced -388.5k -388,521