Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Pdd Holdings Inc (PDD)

564 + 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
↓ -14
Streak
1Q ▼
Buyers last Q
52%

Smart Money Signals — PDD

Based on 566 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, 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 — 88% of 3.0Y peak

88% of all-time peak
566 funds currently hold this stock — 88% of the 3.0-year high of 642 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 4% fewer funds vs a year ago

fund count last 6Q
22 fewer hedge funds hold PDD compared to a year ago (-4% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡

Slight buying edge — 52% buying

313 buying294 selling
Last quarter: 313 funds bought or added vs 294 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.
⚠️

Fewer new buyers each quarter (-28 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 75 → 93 → 103 → 75. 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.
🔒

59% of holders stayed for 2+ years

■ 59% conviction (2yr+) ■ 23% medium ■ 18% new
335 out of 566 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.
➡️

Steady discovery — ~75 new funds/quarter

103 → 75 → 93 → 103 → 75 new funds/Q
New funds entering each quarter: 75 → 93 → 103 → 75. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 67% veterans vs 19% newcomers

■ 67% veterans ■ 14% 1-2yr ■ 19% new
Entry-cohort mix of 631 holders: 420 (67%) are 2+ year veterans, 89 entered 1–2 years ago, and 122 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 39% AUM from major funds

39% from top-100 AUM funds
59 of 555 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
2.9
out of 10
Low Exit Risk
Exit risk score 2.9/10 — 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 Q1, 313 hedge funds were net buyers of PDD (75 opened a new position, 238 added to an existing one), while 294 reduced or exited (205 trimmed, 89 sold completely) — a 52% buyer ratio, indicating a slight buying edge. 39% of total institutional value in PDD is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -14 funds (more exits than new entries). Total institutional holders: 566.

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 Q1 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 March 31, 2026 · 75d ago
PDD
-20.2%
XLY
+7.0%

PDD outperformed XLY by -27.2% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 30d ago
PDD
-14.9%
XLY
+0.1%

Since the filing became public, PDD outperformed XLY by -15.0% .

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 ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

39 top-rated funds 22 high-conviction
Consensus
7.0
/ 10
breadth
×
Elite
5.5
/ 10
conviction
Hedge Fund Positioning: PDD
564 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 564 580 -2.76%
13F Shares 455M 500M -8.85%
Total Value $45.45B $56.55B -19.62%
New Positions 75 103 -28
Increased Positions 221 223 -2
Closed Positions 91 88 +3
Reduced Positions 198 184 +14
Total Calls 38 34 11.76%
Total Puts 38 37 2.7%
PUT/CALL Ratio 1.0 1.09 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
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Net Income Avi to Common (ttm) --
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Total Cash (mrq) --
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Institutional Holders (2026 Q1)

564 + 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 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 NetEase, Inc. 96.95% 8,866,480 $906.0M
2 Capital Today Evergreen Fund, L.P. 81.80% 1,385,004 $141.5M
3 IDG China Venture Capital Fund IV Associates L.P. 81.52% 1,749,029 $178.7M
4 HSG Holding Ltd 70.35% 11,348,426 $1.14B
5 IvyRock Asset Management (HK) Ltd 65.78% 1,145,409 $117.0M
6 Boundless Plain Holdings Ltd 43.57% 1,294,753 $132.3M
7 Green Court Capital Management Ltd 39.76% 420,558 $43.0M
8 Triata Capital Ltd 38.56% 2,082,327 $212.8M
9 First Beijing Investment Ltd 35.91% 8,149,162 $832.7M
10 True Light Capital Pte. Ltd. 32.34% 626,300 $64.0M
11 Hhlr Advisors, LTD. 25.44% 4,165,029 $425.6M
12 Perseverance Asset Management International 24.30% 2,161,676 $220.9M
13 Krane Funds Advisors LLC 23.88% 5,733,184 $581.6M
14 Brilliance Asset Management Ltd 21.23% 704,489 $72.0M
15 Franchise GP Ltd 18.71% 497,860 $50.9M
16 Punch Card Management L.P. 15.67% 415,004 $42.4M
17 Himalaya Capital Management LLC 14.71% 4,608,000 $470.8M
18 Maytree Asset Management Ltd 13.98% 193,600 $19.8M
19 E Fund Management Co., Ltd. 13.94% 4,593,053 $469.3M
20 Greenwoods Asset Management Hong Kong Ltd. 13.45% 5,103,804 $521.5M
21 E Fund Management (Hong Kong) Co., Ltd. 12.99% 279,435 $28.6M
22 H&H International Investment, LLC 10.09% 19,748,294 $2.02B
23 Sc US (ttgp), LTD. 9.77% 8,841,576 $903.4M
24 Serenity Capital Management PTE. LTD. 8.88% 360,000 $36.8M
25 OPTIMAS CAPITAL Ltd 8.81% 38,413 $3.9M
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 — 1 quarter in a row: For 1 consecutive quarter, 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?

Slight buying edge — 52% buying: Last quarter: 313 funds bought or added vs 294 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 — 39% AUM from major funds: 59 of 555 holders rank in the top 100 by AUM, accounting for 39% 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?

59% of holders stayed for 2+ years: 335 out of 566 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 Q1 hedge fund 13F filings?

As of today, PDD has moved -14.9% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.1% for the XLY sector ETF — an outperformance of -15.0%. Since the quarter end (March 31, 2026), PDD has gained -20.2% vs +7.0% 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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