PDD Holdings Inc. (PDD) — Institutional Holders, Q2 2026

512 institutional investment managers reported a PDD position on SEC Form 13F-HR for the quarter ended June 30, 2026, with a combined reported value of $32.9B. Every filer is listed below, ranked by position value, 100 per page; this page shows ranks 1 to 100. Put and call option positions are excluded, and a firm filing several lots or share classes is shown once with its total.

← PDD stock profile

PDD in Q2 2026: what funds did

Funds that filed a 13F for both Q1 2026 and Q2 2026, by what they did with the common stock. Share counts are adjusted for any split between the two quarters; dollar figures are the change in shares at this quarter’s price.

New positions

Added to

150

Trimmed

234

Sold out

115

Biggest buyers

Invesco Ltd.Added · +15,747,990 sh+$1.2B
Himalaya Capital ManagementAdded · +6,153,119 sh+$469.4M
H&H International InvestmentAdded · +5,273,800 sh+$402.3M
JANE STREET GROUPAdded · +4,617,470 sh+$352.2M
GOLDMAN SACHS GROUPAdded · +4,301,004 sh+$328.1M

Biggest sellers

BlackRockTrimmed · -7,438,139 sh-$567.4M
FMRTrimmed · -4,779,937 sh-$364.6M
Hillhouse Capital Advisors, Ltd.Trimmed · -3,665,029 sh-$279.6M
SG Americas SecuritiesTrimmed · -2,875,141 sh-$219.3M
PRICE T ROWE ASSOCIATESTrimmed · -2,714,361 sh-$207.1M

PDD 13F holders ranked 1–100 of 512

Institutional investors reporting a position in PDD Holdings Inc. on SEC Form 13F-HR for Q2 2026, ranked by reported value.
#	Institution	Shares	Value	% of portfolio	QoQShares vs Q1 2026
1	BlackRock#1 · 31,969,893 sh	31,969,893	$2.4B	0.04%	-18.9%
2	BAILLIE GIFFORD#2 · 26,594,535 sh	26,594,535	$2.0B	1.84%	-6.2%
3	H&H International Investment#3 · 25,022,094 sh	25,022,094	$1.9B	9.99%	+26.7%
4	VANGUARD CAPITAL MANAGEMENT#4 · 24,646,256 sh	24,646,256	$1.9B	0.04%	+2.2%
5	Invesco Ltd.#5 · 22,228,242 sh	22,228,242	$1.7B	0.13%	+243.0%
6	GOLDMAN SACHS GROUP#6 · 14,006,939 sh	14,006,939	$1.1B	0.09%	+44.3%
7	SC CHINA HOLDING Ltd#7 · 11,348,426 sh	11,348,426	$865.7M	72.31%	0.0%
8	Himalaya Capital Management#8 · 10,761,119 sh	10,761,119	$820.9M	22.17%	+133.5%
9	STATE STREET#9 · 10,303,417 sh	10,303,417	$785.9M	0.02%	-14.4%
10	NetEase#10 · 9,566,480 sh	9,566,480	$729.7M	95.34%	+7.9%
11	First Beijing Investment Ltd#11 · 9,377,416 sh	9,377,416	$715.3M	29.27%	+15.1%
12	NORGES BANK#12 · 9,338,120 sh	9,338,120	$712.3M	0.07%	—
13	SC US (TTGP), LTD.#13 · 8,841,576 sh	8,841,576	$674.4M	2.11%	0.0%
14	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AME#14 · 8,726,228 sh	8,726,228	$665.6M	0.12%	+1.7%
15	Sanders Capital#15 · 7,936,717 sh	7,936,717	$605.4M	0.61%	-1.9%
16	VANGUARD FIDUCIARY#16 · 6,658,003 sh	6,658,003	$507.9M	0.11%	+2.1%
17	GEODE CAPITAL MANAGEMENT#17 · 6,639,259 sh	6,639,259	$504.1M	0.03%	-3.1%
18	FIL Ltd#18 · 6,292,692 sh	6,292,692	$480.0M	0.34%	-8.1%
19	JPMORGAN CHASE#19 · 6,017,649 sh	6,017,649	$460.6M	0.03%	-23.9%
20	Krane Funds Advisors#20 · 5,780,324 sh	5,780,324	$440.9M	15.63%	+0.8%
21	UBS Group AG#21 · 5,635,629 sh	5,635,629	$429.9M	0.05%	+125.3%
22	MORGAN STANLEY#22 · 5,483,249 sh	5,483,249	$418.3M	0.02%	-25.8%
23	Orbis Allan Gray Ltd#23 · 5,353,562 sh	5,353,562	$408.4M	1.40%	+207.0%
24	JANE STREET GROUP#24 · 4,794,185 sh	4,794,185	$365.7M	0.03%	+2612.9%
25	Greenwoods Asset Management Hong Kong Ltd.#25 · 4,785,666 sh	4,785,666	$365.1M	16.70%	-6.2%
26	Mitsubishi UFJ & Banking#26 · 4,760,515 sh	4,760,515	$363.1M	0.79%	+33.5%
27	E Fund Management , Ltd.#27 · 4,715,949 sh	4,715,949	$359.7M	8.07%	+2.7%
28	DODGE & COX#28 · 4,550,000 sh	4,550,000	$347.1M	0.18%	+0.3%
29	Legal & General Group Plc#29 · 3,997,575 sh	3,997,575	$304.9M	0.06%	-5.9%
30	BNP PARIBAS FINANCIAL MARKETS#30 · 3,805,975 sh	3,805,975	$290.3M	0.10%	-16.4%
31	Temasek (Private) Ltd#31 · 3,622,972 sh	3,622,972	$276.4M	0.74%	-26.5%
32	SG Americas Securities#32 · 3,426,679 sh	3,426,679	$261.4M	0.15%	-45.6%
33	HSBC PLC#33 · 3,266,047 sh	3,266,047	$249.3M	0.10%	-8.9%
34	Triata Capital Ltd#34 · 3,211,624 sh	3,211,624	$245.0M	41.64%	+54.2%
35	DIMENSIONAL FUND ADVISORS#35 · 3,174,566 sh	3,174,566	$242.2M	0.04%	-15.1%
36	Capital International Investors#36 · 3,135,019 sh	3,135,019	$239.1M	0.05%	+49.0%
37	BANK OF AMERICA#37 · 3,120,966 sh	3,120,966	$238.1M	0.02%	+20.7%
38	NATIONAL BANK OF CANADA#38 · 2,873,404 sh	2,873,404	$219.2M	0.16%	+54.4%
39	CITIGROUP#39 · 2,697,035 sh	2,697,035	$205.7M	0.07%	+62.2%
40	NORTHERN#40 · 2,683,483 sh	2,683,483	$204.7M	0.02%	-15.1%
41	AustralianSuper Pty Ltd#41 · 2,627,834 sh	2,627,834	$200.5M	0.87%	+124.0%
42	HEALTHCARE OF ONTARIO PENSION PLAN FUND#42 · 2,485,298 sh	2,485,298	$189.6M	0.27%	+54.4%
43	DEUTSCHE BANK AG\#43 · 2,353,277 sh	2,353,277	$179.5M	0.05%	+17.6%
44	VANGUARD ASSET MANAGEMENT, Ltd#44 · 2,172,283 sh	2,172,283	$165.7M	0.11%	-5.9%
45	Perseverance Asset Management International#45 · 2,163,479 sh	2,163,479	$165.0M	16.86%	+0.1%
46	Capula Management Ltd#46 · 1,914,949 sh	1,914,949	$146.1M	0.52%	New
47	Alpine Investment Management Ltd#47 · 1,664,100 sh	1,664,100	$145.8M	35.46%	+1664.0%
48	BARCLAYS PLC#48 · 1,762,588 sh	1,762,588	$134.5M	0.03%	-22.0%
49	AMERICAN CENTURY COMPANIES#49 · 1,703,940 sh	1,703,940	$130.0M	0.06%	-18.5%
50	CHARLES SCHWAB INVESTMENT MANAGEMENT#50 · 1,652,472 sh	1,652,472	$126.1M	0.02%	+14.9%
51	BRILLIANCE ASSET MANAGEMENT LTD#51 · 1,562,304 sh	1,562,304	$119.2M	35.12%	+121.8%
52	MASSACHUSETTS FINANCIAL SERVICES#52 · 1,553,647 sh	1,553,647	$116.2M	0.04%	-11.1%
53	FMR#53 · 1,521,767 sh	1,521,767	$116.1M	<0.01%	-75.9%
54	IDG China Venture Capital Fund IV Associates L.P.#54 · 1,513,394 sh	1,513,394	$115.4M	78.39%	-13.5%
55	NOMURA ASSET MANAGEMENT INTERNATIONAL#55 · 1,475,390 sh	1,475,390	$112.5M	0.17%	+57.2%
56	PRUDENTIAL PLC#56 · 1,427,305 sh	1,427,305	$108.9M	0.59%	-11.9%
57	Sumitomo Mitsui#57 · 1,389,751 sh	1,389,751	$106.0M	0.06%	-18.4%
58	Capital Today Evergreen Fund, L.P.#58 · 1,385,004 sh	1,385,004	$105.6M	81.58%	0.0%
59	SCHRODER INVESTMENT MANAGEMENT GROUP#59 · 1,341,412 sh	1,341,412	$102.7M	0.07%	-55.1%
60	SUSQUEHANNA INTERNATIONAL GROUP, LLP#60 · 1,322,726 sh	1,322,726	$100.9M	<0.01%	-12.2%
61	Connor, Clark & Lunn Investment Management Ltd.#61 · 1,315,668 sh	1,315,668	$100.4M	0.19%	+29.3%
62	Boundless Plain Ltd#62 · 1,294,753 sh	1,294,753	$98.8M	22.88%	0.0%
63	Bank of New York Mellon#63 · 1,281,365 sh	1,281,365	$97.7M	0.02%	-10.8%
64	FIRST ADVISORS#64 · 1,276,749 sh	1,276,749	$97.4M	0.06%	+6.7%
65	Holocene Advisors#65 · 1,260,000 sh	1,260,000	$96.1M	0.22%	New
66	IvyRock Asset Management (HK) Ltd#66 · 1,174,549 sh	1,174,549	$89.6M	50.65%	+2.5%
67	Swiss National Bank#67 · 1,094,644 sh	1,094,644	$83.5M	0.04%	-20.3%
68	CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM#68 · 1,015,932 sh	1,015,932	$77.5M	0.04%	-19.7%
69	Allspring Global Investments#69 · 921,596 sh	921,596	$76.1M	0.12%	+34.4%
70	VOLORIDGE INVESTMENT MANAGEMENT#70 · 918,040 sh	918,040	$70.0M	0.30%	New
71	GF FUND MANAGEMENT LTD.#71 · 907,898 sh	907,898	$69.3M	—	+9.3%
72	Nuveen#72 · 878,598 sh	878,598	$67.0M	0.02%	-28.9%
73	Green Court Capital Management Ltd#73 · 875,658 sh	875,658	$66.8M	57.10%	+108.2%
74	Mitsubishi UFJ Asset Management , Ltd.#74 · 842,296 sh	842,296	$64.3M	0.04%	-10.6%
75	Robeco Institutional Asset Management B.V.#75 · 796,468 sh	796,468	$60.8M	—	-68.1%
76	MARSHALL WACE, LLP#76 · 759,453 sh	759,453	$57.9M	0.05%	+135.4%
77	Pictet Asset Management Holding SA#77 · 682,209 sh	682,209	$52.0M	0.05%	-24.2%
78	abrdn plc#78 · 679,955 sh	679,955	$51.9M	0.07%	-19.7%
79	ARROWSTREET CAPITAL, LIMITED PARTNERSHIP#79 · 654,008 sh	654,008	$49.9M	0.02%	+45.0%
80	PRICE T ROWE ASSOCIATES#80 · 647,140 sh	647,140	$49.4M	<0.01%	-80.7%
81	ProShare Advisors#81 · 642,198 sh	642,198	$49.0M	0.07%	-26.1%
82	ROYAL LONDON ASSET MANAGEMENT LTD#82 · 630,472 sh	630,472	$48.1M	0.09%	-14.1%
83	Polar Capital Plc#83 · 592,084 sh	592,084	$45.2M	0.11%	-1.8%
84	FRANKLIN RESOURCES#84 · 590,786 sh	590,786	$45.1M	<0.01%	-12.8%
85	True Light Capital Pte. Ltd.#85 · 589,064 sh	589,064	$44.9M	29.61%	-5.9%
86	BARINGS#86 · 587,937 sh	587,937	$44.8M	—	-9.4%
87	USS Investment Management Ltd#87 · 581,284 sh	581,284	$44.3M	0.16%	-16.7%
88	Russell Investments Group, Ltd.#88 · 574,888 sh	574,888	$43.9M	0.04%	-35.9%
89	Fisher Asset Management#89 · 560,008 sh	560,008	$42.7M	0.01%	-3.4%
90	DekaBank Deutsche Girozentrale#90 · 408,010 sh	408,010	$41.5M	0.07%	0.0%
91	Walleye Trading#91 · 543,714 sh	543,714	$41.5M	0.05%	-11.0%
92	CITADEL ADVISORS#92 · 536,454 sh	536,454	$40.9M	<0.01%	-40.0%
93	Marex Group plc#93 · 535,181 sh	535,181	$40.8M	0.17%	+35.7%
94	KEYWISE CAPITAL MANAGEMENT (HK) Ltd#94 · 528,100 sh	528,100	$40.3M	5.49%	New
95	AVIVA PLC#95 · 504,886 sh	504,886	$38.5M	0.06%	-22.4%
96	Hillhouse Capital Advisors, Ltd.#96 · 500,000 sh	500,000	$38.1M	4.58%	-88.0%
97	Franchise GP Ltd#97 · 497,860 sh	497,860	$38.0M	—	0.0%
98	Harvest Fund Management , Ltd#98 · 496,105 sh	496,105	$37.8M	1.25%	+2.9%
99	Kora Management#99 · 490,650 sh	490,650	$37.4M	4.44%	0.0%
100	GREAT WEST LIFE ASSURANCE#100 · 489,566 sh	489,566	$37.3M	0.06%	-12.3%

Funds that sold out of PDD in Q2 2026 (115)

Held PDD at the end of Q1 2026 and filed a Q2 2026 13F without it. Not in the list above, because they no longer hold it. Largest prior position first.

Institutions that held PDD in Q1 2026 and reported no position in Q2 2026.
Institution	Shares sold	Value in Q1 2026
Brevan Howard Capital Management180,500 sh	180,500	$295.1M
Assenagon Asset Management S.A.2,193,918 sh	2,193,918	$224.2M
RENAISSANCE TECHNOLOGIES1,112,700 sh	1,112,700	$113.7M
Appaloosa900,000 sh	900,000	$92.0M
Carrhae Capital LLP515,274 sh	515,274	$52.7M
Anatole Investment Management Ltd502,925 sh	502,925	$51.4M
CAT ROCK CAPITAL MANAGEMENT440,228 sh	440,228	$45.0M
Tiger Pacific Capital271,524 sh	271,524	$27.7M
Centiva Capital267,255 sh	267,255	$27.3M
CAUSEWAY CAPITAL MANAGEMENT237,010 sh	237,010	$24.2M
BI Asset Management Fondsmaeglerselskab A/S211,209 sh	211,209	$21.6M
Maytree Asset Management Ltd193,600 sh	193,600	$19.8M
Charles-Lim Capital Ltd175,000 sh	175,000	$17.9M
Kovitz Investment Group Partners169,087 sh	169,087	$17.3M
Ardmore Road Asset Management153,000 sh	153,000	$15.6M
Headwater Capital Ltd150,000 sh	150,000	$15.3M
Himension Fund145,939 sh	145,939	$14.9M
Oasis Management Ltd.114,000 sh	114,000	$11.6M
OLD MISSION CAPITAL100,149 sh	100,149	$10.2M
Nearwater Capital Markets, Ltd83,100 sh	83,100	$8.5M
BAMCO61,948 sh	61,948	$6.3M
Yarbrough Capital53,202 sh	53,202	$5.4M
Liontrust Investment Partners LLP36,392 sh	36,392	$4.1M
OPTIMAS CAPITAL Ltd38,413 sh	38,413	$3.9M
VAN ECK ASSOCIATES36,376 sh	36,376	$3.7M
Mawer Investment Management Ltd.34,390 sh	34,390	$3.5M
Atom Investors33,616 sh	33,616	$3.4M
Titan Wealth (CI) Ltd33,024 sh	33,024	$3.4M
Parametrica Management Ltd29,230 sh	29,230	$3.0M
Turn8 Private Wealth28,946 sh	28,946	$3.0M
JUPITER ASSET MANAGEMENT LTD26,973 sh	26,973	$2.8M
Jump Financial26,858 sh	26,858	$2.7M
LOS ANGELES CAPITAL MANAGEMENT25,123 sh	25,123	$2.6M
State of New Jersey Common Pension Fund D22,862 sh	22,862	$2.3M
Fosun International Ltd21,289 sh	21,289	$2.2M
AE Wealth Management20,678 sh	20,678	$2.1M
RWC ASSET ADVISORS (US)19,727 sh	19,727	$2.0M
NewEdge Wealth19,003 sh	19,003	$1.9M
Henry James International Management16,148 sh	16,148	$1.7M
Maxi Investments CY Ltd14,308 sh	14,308	$1.5M
HBK INVESTMENTS L P13,752 sh	13,752	$1.4M
WEXFORD CAPITAL13,691 sh	13,691	$1.4M
Maytus Capital Management12,789 sh	12,789	$1.3M
PRELUDE CAPITAL MANAGEMENT12,495 sh	12,495	$1.3M
one8zero811,250 sh	11,250	$1.1M
Main Management ETF Advisors11,087 sh	11,087	$1.1M
Advisors Preferred10,230 sh	10,230	$1.0M
Veritas Asset Management LLP10,020 sh	10,020	$1.0M
SummitTX Capital, L.P.9,842 sh	9,842	$1.0M
Texas Yale Capital9,528 sh	9,528	$973.6K
Legacy Capital Group California9,423 sh	9,423	$962.8K
CLOUGH CAPITAL PARTNERS L P9,155 sh	9,155	$935.5K
Titan Investment Solutions Ltd8,839 sh	8,839	$903.2K
State of Wyoming8,660 sh	8,660	$884.9K
ABN AMRO INVESTMENT SOLUTIONS8,300 sh	8,300	$848.1K
Bridgefront Capital7,613 sh	7,613	$777.9K
Caption Management7,500 sh	7,500	$766.4K
BOOTHBAY FUND MANAGEMENT7,302 sh	7,302	$746.1K
Paradiem6,979 sh	6,979	$713.1K
Alphadyne Asset Management6,949 sh	6,949	$710.0K
AXQ CAPITAL6,703 sh	6,703	$684.9K
LGT Fund Management Ltd.6,417 sh	6,417	$655.7K
Global Endowment Management6,358 sh	6,358	$650.0K
M&T BANK6,305 sh	6,305	$644.2K
Alberta Investment Management6,100 sh	6,100	$623.3K
Northwest & Ethical Investments L.P.5,680 sh	5,680	$580.4K
Quantbot Technologies5,441 sh	5,441	$556.0K
May Hill Capital5,157 sh	5,157	$526.9K
CAXTON ASSOCIATES LLP5,000 sh	5,000	$510.9K
OAKTREE CAPITAL MANAGEMENT4,823 sh	4,823	$492.8K
Osmosis Investment Management UK Ltd4,735 sh	4,735	$483.8K
Sustainable Insight Capital Management3,938 sh	3,938	$402.4K
PDS Planning3,726 sh	3,726	$380.7K
Sanctuary Advisors3,698 sh	3,698	$377.9K
Keel Point3,364 sh	3,364	$343.7K
Scientech Research3,136 sh	3,136	$320.4K
OXFORD ASSET MANAGEMENT LLP3,131 sh	3,131	$319.9K
West Family Investments3,034 sh	3,034	$310.0K
Capital Markets Trading UK LLP2,884 sh	2,884	$295.0K
Apollon Wealth Management2,855 sh	2,855	$291.7K
Alpha Family2,815 sh	2,815	$287.6K
Lavaca Capital2,809 sh	2,809	$287.0K
Lester Murray Antman dba SimplyRich2,805 sh	2,805	$286.0K
Nolet Wealth Management2,762 sh	2,762	$282.2K
BIT Capital GmbH2,689 sh	2,689	$274.8K
Ethic2,642 sh	2,642	$270.0K
Resonant Capital Advisors2,483 sh	2,483	$253.7K
LGT Group Foundation2,400 sh	2,400	$245.2K
Allegheny Financial Group LTD2,395 sh	2,395	$244.7K
Comprehensive Financial Management2,337 sh	2,337	$238.8K
Alhambra Investment Partners2,200 sh	2,200	$224.8K
Belvedere Trading2,048 sh	2,048	$209.3K
GREENLEAF2,038 sh	2,038	$208.2K
Rehmann Capital Advisory Group2,007 sh	2,007	$205.1K
Banco BTG Pactual S.A.2,005 sh	2,005	$204.9K
New Age Alpha Advisors1,210 sh	1,210	$123.6K
Timothy G. Youngquist 2020 Irrevocable753 sh	753	$76.9K
Bank Julius Baer & Ltd, Zurich673 sh	673	$68.8K
Activest Wealth Management350 sh	350	$35.8K
Wall Street Financial Group315 sh	315	$32.2K

And 15 smaller positions.

Source: Form 13F-HR filings on SEC EDGAR, Q2 2026. Values are as reported by each manager at quarter end. “% of portfolio” is the position’s share of the manager’s total reported 13F value for the same quarter. “New” means the manager filed a 13F for Q1 2026 without this position; a dash means no comparison is available. Where a manager’s own filing is internally inconsistent its value is withheld and it is listed last. 13F data shows reported holdings, not recommendations.