PDD HOLDINGS INC (PDD) — Hedge Fund Ownership Q4 2025
PDD
- PDD HOLDINGS INC (PDD) is held by 7 of 81 tracked hedge funds, with Punch Card Management (16%) and Himalaya Capital Management (15%) holding the largest stakes, indicating limited hedge fund interest relative to peers.
- The biggest increases in PDD holdings came from H&H International Investment (+35%) and Causeway Capital Management (+20%), highlighting conviction.
- The biggest decreases in PDD holdings came from Polen Capital Management (-50%) and Appaloosa Management (-1%), suggesting profit-taking or de-risking.
- 1 hedge fund exited PDD, led by RV Capital (7%).
- Overall, hedge funds increased exposure to PDD HOLDINGS INC (PDD) by +17% vs the prior quarter and -59% vs prior year.
| # | Fund | % of Portfolio † | Shares † | Shares vs Prior Quarter † | Shares vs Prior Year † | Aggregate Value † | Reported Price * | Option |
|---|---|---|---|---|---|---|---|---|
| 1 |
Punch Card Management Norbert Lou
|
15.64% | 415K | — | +219.23% | $47.1M | $113.39 | — |
| 2 |
Himalaya Capital Management Li Lu
|
14.64% | 4.6M | — | — | $522.5M | $113.39 | — |
| 3 |
H&H International Investment Duan Yongping
|
7.48% | 11.5M | +34.55% | — | $1.31B | $113.39 | — |
| 4 |
Appaloosa Management
|
2.94% | 1.8M | -1.39% | -66.86% | $201.3M | $113.39 | — |
| 5 |
Causeway Capital Management
|
0.58% | 371K | +19.89% | -16.81% | $42.1M | $113.39 | — |
| 6 |
Dodge & Cox
|
0.27% | 4.4M | NEW | — | $503.4M | $113.39 | — |
| 7 |
Polen Capital Management
|
0.02% | 31K | -50.49% | -53.30% | $3.6M | $113.39 | — |
| — |
RV Capital
|
— | — | EXITED | — | — | — | — |
| 7 | Total | — | 23.2M | +16.59% | -59.14% | $2.63B | — | — |
* Reported price is not an actual purchase or sale price. It is the price as of the last portfolio date.
† Portfolio value, share counts, and period-over-period changes exclude options positions (PUT/CALL), which are shown in the Option column for reference only.
† Portfolio value, share counts, and period-over-period changes exclude options positions (PUT/CALL), which are shown in the Option column for reference only.