PDD Holdings Inc.: which funds bought and sold
Institutions that bought and sold PDD shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.
Between March 31, 2026 and June 30, 2026, 204 institutions that filed 13F reports for both quarters added to or opened positions in PDD, and 347 cut or closed them. Together they sold a net 3.6M shares, −0.8% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 1.9M shares (−2.1%); index fund managers were net sellers of 9.2M shares (−9.7%). 54 opened a new position and 112 sold out entirely.
Bought, Q2 2026 204 institutions, 54 of them new holders Sold, Q2 2026 347 institutions, 112 of them sold out
Net change, all compared −3.6M shares (−0.8%)
Net change, active managers −1.9M shares (−2.1%), 27 bought, 45 sold
Buyers versus sellers
204 bought 61 347 sold
Active managers and hedge funds 27 bought · 45 sold · −1.9M
Index fund managers 4 bought · 7 sold · −9.2M
Other institutions 173 bought · 295 sold · +7.5M
Biggest buyers
| Institution | Change in shares | Shares June 30, 2026 | Value |
|---|---|---|---|
| Himalaya Capital Management LLC Hedge fund | +6.2M +133.5% | 10.8M | $821M |
| H&H International Investment, LLC | +5.3M +26.7% | 25.0M | $1.9B |
| Jane Street Group, LLC | +4.6M +2612.9% | 4.8M | $366M |
| Goldman Sachs Group Inc | +4.3M +44.3% | 14.0M | $1.1B |
| Orbis Allan Gray Ltd Active manager | +3.6M +207.0% | 5.4M | $408M |
| UBS Group AG | +3.1M +125.3% | 5.6M | $430M |
| Capula Management Ltd Hedge fund | +1.9M +10790.3% | 1.9M | $146M |
| Invesco Ltd. | +1.7M +8.4% | 22.2M | $1.7B |
| Alpine Investment Management Ltd | +1.6M +1661.4% | 1.7M | $127M |
| Australiansuper Pty Ltd | +1.5M +124.0% | 2.6M | $200M |
| Holocene Advisors, LP Hedge fund | +1.3M New position | 1.3M | $96.1M |
| First Beijing Investment Ltd | +1.2M +15.1% | 9.4M | $715M |
| Mitsubishi Ufj Trust & Banking Corp | +1.2M +33.5% | 4.8M | $363M |
| Triata Capital Ltd | +1.1M +54.2% | 3.2M | $245M |
| Citigroup Inc | +1.0M +62.2% | 2.7M | $206M |
| Capital International Investors Active manager | +1.0M +49.0% | 3.1M | $239M |
| National Bank Of Canada | +1.0M +54.4% | 2.9M | $219M |
| Voloridge Investment Management, LLC Hedge fund | +918K New position | 918K | $70M |
| Healthcare Of Ontario Pension Plan Trust Fund | +876K +54.4% | 2.5M | $190M |
| Brilliance Asset Management Ltd | +858K +121.8% | 1.6M | $119M |
| Institution | Change in shares | Shares June 30, 2026 | Value |
|---|---|---|---|
| Himalaya Capital Management LLC Hedge fund | +6.2M +133.5% | 10.8M | $821M |
| Orbis Allan Gray Ltd Active manager | +3.6M +207.0% | 5.4M | $408M |
| Capula Management Ltd Hedge fund | +1.9M +10790.3% | 1.9M | $146M |
| Holocene Advisors, LP Hedge fund | +1.3M New position | 1.3M | $96.1M |
| Capital International Investors Active manager | +1.0M +49.0% | 3.1M | $239M |
| Voloridge Investment Management, LLC Hedge fund | +918K New position | 918K | $70M |
| Marshall Wace, LLP Hedge fund | +437K +135.4% | 759K | $57.9M |
| Arrowstreet Capital, Limited Partnership Hedge fund | +203K +45.0% | 654K | $49.9M |
| Neuberger Berman Group LLC Active manager | +137K +77.4% | 313K | $23.9M |
| Qube Research & Technologies Ltd Hedge fund | +105K New position | 105K | $8M |
Biggest sellers
| Institution | Change in shares | Shares June 30, 2026 | Value |
|---|---|---|---|
| Blackrock, Inc. Index funds | −7.4M −18.9% | 32.0M | $2.4B |
| FMR LLC Active manager | −4.8M −75.9% | 1.5M | $116M |
| Hhlr Advisors, Ltd. | −3.7M −88.0% | 500K | $38.1M |
| SG Americas Securities, LLC | −2.9M −45.6% | 3.4M | $261M |
| Price T Rowe Associates Inc Active manager | −2.7M −80.7% | 647K | $49.4M |
| Assenagon Asset Management S.A. | −2.2M Sold out | 0 | — |
| Morgan Stanley | −1.9M −25.8% | 5.5M | $418M |
| Jpmorgan Chase & Co | −1.9M −23.9% | 6.0M | $461M |
| Baillie Gifford & Co Active manager | −1.8M −6.2% | 26.6M | $2B |
| State Street Corp Index funds | −1.7M −14.4% | 10.3M | $786M |
| Robeco Institutional Asset Management B.V. | −1.7M −68.1% | 796K | $60.8M |
| Schroder Investment Management Group Active manager | −1.6M −55.1% | 1.3M | $103M |
| Temasek Holdings (Private) Ltd | −1.3M −26.5% | 3.6M | $276M |
| Renaissance Technologies LLC Hedge fund | −1.1M Sold out | 0 | — |
| Appaloosa LP Hedge fund | −900K Sold out | 0 | — |
| Evergreen Quality Fund Gp, Ltd. | −797K −98.0% | 16K | $1.2M |
| BNP Paribas Financial Markets | −748K −16.4% | 3.8M | $290M |
| Dimensional Fund Advisors LP | −563K −15.1% | 3.2M | $242M |
| Fil Ltd Active manager | −557K −8.1% | 6.3M | $480M |
| Carrhae Capital LLP Hedge fund | −515K Sold out | 0 | — |
| Institution | Change in shares | Shares June 30, 2026 | Value |
|---|---|---|---|
| FMR LLC Active manager | −4.8M −75.9% | 1.5M | $116M |
| Price T Rowe Associates Inc Active manager | −2.7M −80.7% | 647K | $49.4M |
| Baillie Gifford & Co Active manager | −1.8M −6.2% | 26.6M | $2B |
| Schroder Investment Management Group Active manager | −1.6M −55.1% | 1.3M | $103M |
| Renaissance Technologies LLC Hedge fund | −1.1M Sold out | 0 | — |
| Appaloosa LP Hedge fund | −900K Sold out | 0 | — |
| Fil Ltd Active manager | −557K −8.1% | 6.3M | $480M |
| Carrhae Capital LLP Hedge fund | −515K Sold out | 0 | — |
| Lazard Asset Management LLC Active manager | −474K −58.9% | 331K | $25.2M |
| Man Group PLC Hedge fund | −419K −99.3% | 3,003 | $229,069 |
New positions
| Institution | Shares | Value June 30, 2026 |
|---|---|---|
| Holocene Advisors, LPHedge fund | 1.3M | $96.1M |
| Voloridge Investment Management, LLCHedge fund | 918K | $70M |
| Keywise Capital Management (HK) Ltd | 528K | $40.3M |
| Ai-Squared Management Ltd | 328K | $25M |
| Ranmore Fund Management Ltd | 300K | $22.9M |
| Steelpeak Wealth, LLC | 171K | $13M |
| Qube Research & Technologies LtdHedge fund | 105K | $8M |
| Parallax Volatility Advisers, L.P. | 51K | $3.9M |
| Wasatch Advisors LPActive manager | 48K | $3.7M |
| Catalyst Funds Management Pty Ltd | 43K | $3.3M |
Sold out
| Institution | Shares | Value March 31, 2026 |
|---|---|---|
| Assenagon Asset Management S.A. | 2.2M | $224M |
| Renaissance Technologies LLCHedge fund | 1.1M | $114M |
| Appaloosa LPHedge fund | 900K | $92M |
| Carrhae Capital LLPHedge fund | 515K | $52.7M |
| Anatole Investment Management Ltd | 503K | $51.4M |
| Cat Rock Capital Management LP | 440K | $45M |
| Tiger Pacific Capital LP | 272K | $27.7M |
| Centiva Capital, LPHedge fund | 267K | $27.3M |
| Causeway Capital Management LLCActive manager | 237K | $24.2M |
| Bi Asset Management Fondsmaeglerselskab A/S | 211K | $21.6M |
Who holds the shares
- Institutions reporting
- 508
- Ten largest holders
- 43.2% of 13F-reported shares
- Index fund managers
- 19.8% of 13F-reported shares
- Active managers and hedge funds
- 20.4% of 13F-reported shares
| Type | Bought | Sold | New | Sold out | Net change in shares | Net % |
|---|---|---|---|---|---|---|
| Active managers and hedge funds | 27 | 45 | 7 | 15 | −1.9M | −2.1% |
| Index fund managers | 4 | 7 | 0 | 0 | −9.2M | −9.7% |
| Other institutions | 173 | 295 | 47 | 97 | +7.5M | +3.1% |