Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

PDD HOLDINGS INC (PDD)

617 + 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
↑ +13
Streak
2Q ▲
Buyers last Q
54%

Smart Money Signals — PDD

Based on 554 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds added PDD than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
📊

High ownership — 88% of 3.0Y peak

88% of all-time peak
554 funds currently hold this stock — 88% of the 3.0-year high of 626 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️

Stable — ownership unchanged year-over-year

fund count last 6Q
The number of hedge funds holding PDD is almost the same as a year ago (-4 funds, -1% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡

Slight buying edge — 54% buying

323 buying280 selling
Last quarter: 323 funds bought or added vs 280 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+9 vs last Q)

new funds entering per quarter
Funds opening a new PDD position: 95 → 74 → 90 → 99. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

60% of holders stayed for 2+ years

■ 60% conviction (2yr+) ■ 23% medium ■ 17% new
331 out of 554 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 -4%, value -19%

Value
-19%
Shares
-4%
Last quarter: funds added -4% more shares while total portfolio value only changed -19%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈

Growing discovery — still being found

99 → 95 → 74 → 90 → 99 new funds/Q
New funds entering each quarter: 95 → 74 → 90 → 99. A growing number of institutions are discovering PDD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Deep conviction — 65% of holders stayed 2+ years

■ 65% veterans ■ 12% 1-2yr ■ 23% new
Of 617 current holders: 400 (65%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅

Strong quality — 34% AUM from major funds

34% from top-100 AUM funds
44 of 554 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
2.8
out of 10
Low Exit Risk
Exit risk score 2.8/10 — 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 2025 Q4, 323 hedge funds were net buyers of PDD (99 opened a new position, 224 added to an existing one), while 280 reduced or exited (194 trimmed, 86 sold completely) — a 54% buyer ratio, indicating a slight buying edge. Net buying has persisted for two consecutive quarters, a positive momentum signal. 34% of total institutional value in PDD is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +13 funds (more new holders than closures). Total institutional holders: 554.

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

Consumer Cyclical Internet Retail

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

Smart Money Signal ?
Strong Institutional Conviction

Multiple high-quality funds hold meaningful positions with strong conviction.

80 top-rated funds 39 high-conviction
Consensus
8.3
/ 10
breadth
×
Elite
6.4
/ 10
conviction
Hedge Fund Positioning: PDD
2026 Q1 Stats Unlock in 7 days 617 + Investors

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

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 617 607 1.65%
13F Shares 493M 514M -4.09%
Total Value $55.85B $69.32B -19.43%
New Positions 104 95 +9
Increased Positions 314 336 -22
Closed Positions 93 73 +20
Reduced Positions 288 248 +40
Total Calls 34 38 -10.53%
Total Puts 36 41 -12.2%
PUT/CALL Ratio 1.06 1.08 Neutral

Statistics: PDD

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Valuation Measures Data as of: --

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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) --
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Institutional Holders (2026 Q1)

617 + investors

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

Top 25 institutional holders of PDD — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Capital Today Evergreen Fund, L.P. 81.80% 1,385,004 $141.5M
2 IDG China Venture Capital Fund IV Associates L.P. 81.52% 1,749,029 $178.7M
3 IvyRock Asset Management (HK) Ltd 65.78% 1,145,409 $117.0M
4 Boundless Plain Holdings Ltd 43.57% 1,294,753 $132.3M
5 Green Court Capital Management Ltd 39.76% 420,558 $43.0M
6 First Beijing Investment Ltd 35.91% 8,149,162 $832.7M
7 True Light Capital Pte. Ltd. 32.34% 626,300 $64.0M
8 Krane Funds Advisors LLC 23.88% 5,733,184 $581.6M
9 BRILLIANCE ASSET MANAGEMENT LTD 21.23% 704,489 $72.0M
10 Franchise GP Ltd 18.71% 497,860 $50.9M
11 Maytree Asset Management Ltd 13.98% 193,600 $19.8M
12 E Fund Management Co., Ltd. 13.94% 4,593,053 $469.3M
13 Greenwoods Asset Management Hong Kong Ltd. 13.45% 5,103,804 $521.5M
14 E Fund Management (Hong Kong) Co., Ltd. 12.99% 279,435 $28.6M
15 SERENITY CAPITAL MANAGEMENT PTE. LTD. 8.88% 360,000 $36.8M
16 OPTIMAS CAPITAL Ltd 8.81% 38,413 $3.9M
17 MATTHEWS INTERNATIONAL CAPITAL MANAGEMENT LLC 8.25% 198,922 $20.3M
18 TB Alternative Assets Ltd. 7.23% 340,228 $34.8M
19 Orland Properties Ltd 4.36% 113,835 $11.6M
20 Capstone Capital Management Ltd 4.31% 41,868 $4.3M
21 Virtus Family Office LLC 4.22% 48,438 $4.9M
22 Parametrica Management Ltd 3.39% 29,230 $3.0M
23 Step Capital Management Pte. Ltd. 3.08% 75,000 $7.7M
24 BAILLIE GIFFORD & CO 2.96% 28,353,099 $2.90B
25 PARUS FINANCE (UK) Ltd 2.89% 94,543 $9.7M
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?

Buying streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds added PDD than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for PDD?

Slight buying edge — 54% buying: Last quarter: 323 funds bought or added vs 280 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for PDD holders?

Strong quality — 34% AUM from major funds: 44 of 554 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held PDD?

60% of holders stayed for 2+ years: 331 out of 554 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.

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.