Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Pdd Holdings Inc (PDD)

505 + Investors. Track Smart Money conviction in PDD. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -52
Streak
2Q ▼
Buyers last Q
39%

Smart Money Signals — PDD

Based on 517 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds reduced or closed their PDD positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 80% of 3.0Y peak

80% of all-time peak
517 funds currently hold this stock — 80% of the 3.0-year high of 643 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 5% fewer funds vs a year ago

fund count last 6Q
27 fewer hedge funds hold PDD compared to a year ago (-5% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴

Heavy selling pressure — only 39% buying

235 buying372 selling
Last quarter: 372 funds sold vs only 235 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️

Fewer new buyers each quarter (-8 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 93 → 103 → 76 → 68. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

63% of holders stayed for 2+ years

■ 63% conviction (2yr+) ■ 19% medium ■ 18% new
327 out of 517 hedge funds have held PDD for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares +15%, value -16%

Value
-16%
Shares
+14%
Last quarter: funds added +15% more shares while total portfolio value only changed -16%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊

Peak discovery — momentum slowing

77 → 93 → 103 → 76 → 68 new funds/Q
New funds entering each quarter: 93 → 103 → 76 → 68. PDD is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️

Veteran-anchored — 67% veterans vs 20% newcomers

■ 67% veterans ■ 13% 1-2yr ■ 20% new
Entry-cohort mix of 585 holders: 393 (67%) are 2+ year veterans, 76 entered 1–2 years ago, and 116 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 44% AUM from top-100 funds

44% from top-100 AUM funds
64 of 507 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in PDD. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.0
out of 10
Low Exit Risk
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — PDD

In 2026 Q2, 235 hedge funds were net buyers of PDD (68 opened a new position, 167 added to an existing one), while 372 reduced or exited (252 trimmed, 120 sold completely) — a 39% buyer ratio, indicating net institutional distribution. Net selling has persisted for two consecutive quarters. 44% of total institutional value in PDD is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -52 funds (more exits than new entries). Total institutional holders: 517.

Hedge Fund Ownership: PDD

How many hedge funds hold PDD — quarterly history vs. share price
Quarterly hedge fund ownership of PDD vs. share price

Market Analysis: PDD

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: PDD

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Pdd Holdings Inc (PDD) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much PDD has moved relative to its sector benchmark (XLY) since the 2026 Q2 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End June 30, 2026 · 59d ago
PDD
+13.7%
XLY
-0.4%

PDD outperformed XLY by +14.1% since June 30, 2026.

Since 13F Filing Date August 14, 2026 · 14d ago
PDD
+2.3%
XLY
-1.2%

Since the filing became public, PDD outperformed XLY by +3.5% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

19 top-rated funds 14 high-conviction
Consensus
5.6
/ 10
breadth
×
Elite
4.3
/ 10
conviction
Hedge Fund Positioning: PDD
505 + Investors

Track Smart Money conviction in PDD. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 505 569 -11.25%
13F Shares 510M 463M 9.97%
Total Value $38.59B $46.41B -16.85%
New Positions 68 76 -8
Increased Positions 150 221 -71
Closed Positions 122 88 +34
Reduced Positions 237 201 +36
Total Calls 40 38 5.26%
Total Puts 38 38 -
PUT/CALL Ratio 0.95 1.0 Neutral

Statistics: PDD

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Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q2)

505 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in PDD. Verified SEC 13F-HR filings.

QUARTER:
Top 25 PDD holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 NetEase, Inc. 95.34% 9,566,480 $729.7M
2 Capital Today Evergreen Fund, L.P. 81.58% 1,385,004 $105.6M
3 IDG China Venture Capital Fund IV Associates L.P. 78.39% 1,513,394 $115.4M
4 HSG Holding Ltd 72.31% 11,348,426 $865.7M
5 Green Court Capital Management Ltd 57.10% 875,658 $66.8M
6 IvyRock Asset Management (HK) Ltd 50.64% 1,174,549 $89.6M
7 Triata Capital Ltd 41.64% 3,211,624 $245.0M
8 Brilliance Asset Management Ltd 35.12% 1,562,304 $119.2M
9 Alpine Investment Management Ltd 30.82% 1,661,600 $126.7M
10 True Light Capital Pte. Ltd. 29.61% 589,064 $44.9M
11 First Beijing Investment Ltd 29.27% 9,377,416 $715.3M
12 Boundless Plain Holdings Ltd 22.88% 1,294,753 $98.8M
13 Himalaya Capital Management LLC 22.17% 10,761,119 $820.9M
14 Franchise GP Ltd 17.64% 497,860 $38.0M
15 Perseverance Asset Management International 16.86% 2,163,479 $165.0M
16 Greenwoods Asset Management Hong Kong Ltd. 16.70% 4,785,666 $365.1M
17 Krane Funds Advisors LLC 15.63% 5,780,324 $440.9M
18 Monolith Management Ltd 14.63% 424,500 $32.4M
19 AI-Squared Management Ltd 13.33% 327,700 $25.0M
20 Punch Card Management L.P. 12.37% 415,004 $31.7M
21 Yong Rong (HK) Asset Management Ltd 10.93% 170,000 $13.0M
22 H&H International Investment, LLC 9.99% 25,022,094 $1.91B
23 ABS Investment Management LLC 8.99% 85,772 $14.3M
24 ABS Direct Equity Fund LLC 8.99% 85,772 $14.3M
25 Serenity Capital Management PTE. LTD. 8.28% 360,000 $27.5M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Pdd Holdings Inc (PDD)

What does the Smart Money Trend signal show for PDD?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their PDD positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for PDD?

Heavy selling pressure — only 39% buying: Last quarter: 372 funds sold vs only 235 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.

What is the fund quality score for PDD holders?

Elite ownership — 44% AUM from top-100 funds: 64 of 507 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in PDD. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held PDD?

63% of holders stayed for 2+ years: 327 out of 517 hedge funds have held PDD for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Pdd Holdings Inc (PDD) following the 2026 Q2 hedge fund 13F filings?

As of today, PDD has moved +2.3% since the 2026 Q2 13F filing date (August 14, 2026), compared to -1.2% for the XLY sector ETF — an outperformance of +3.5%. Since the quarter end (June 30, 2026), PDD has gained +13.7% vs -0.4% for XLY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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