Save your place

Sign in to WhoBought

Please try again later.

Ray Dalio's PDD Holdings Inc. (PDD) position

Not anymore: Ray Dalio fully exited PDD in Q2 2025. The position peaked at $357M in Q4 2023.
View full portfolio →
Value at exit
$206M
Shares at exit
1.7M
Est. average buy price (i)
$120.57
est. since Q3 2024
Quarter-end price
$118.35

Estimated trade prices

Average price in quarters with purchases
$86.29
Average prices in quarters with sales
  • Q4 2024: $116.34 (5K shares sold)
  • Q2 2024: $135.42 (290K shares sold)
  • Q1 2024: $131.01 (892K shares sold)
  • Q4 2023: $121.27 (272K shares sold)
  • Q3 2023: $86.15 (23K shares sold)
  • Q1 2023: $90.39 (1.5M shares sold)
  • Q2 2022: $46.86 (125K shares sold)

PDD price vs Dalio's position

Dates
$30$100$150$20020222023202420252026Added 802K shares (71.8%) · Q3 2021. Average closing price $97.25 · Price range $74.69–$121.84802KsharespurchasedAdded 742K shares (38.7%) · Q4 2021. Average closing price $78.86 · Price range $54.01–$100.64742KsharespurchasedSold 125K shares (2.5%) · Q2 2022. Average closing price $46.86 · Price range $33.84–$65.96125KsharessoldAdded 252K shares (5.2%) · Q3 2022. Average closing price $58.13 · Price range $45.76–$72.19252KsharespurchasedSold 1.5M shares (41.2%) · Q1 2023. Average closing price $90.39 · Price range $71.68–$104.681.5MsharessoldAdded 589K shares (27.5%) · Q2 2023. Average closing price $68.70 · Price range $60.02–$80.82589KsharespurchasedSold 23K shares (0.8%) · Q3 2023. Average closing price $86.15 · Price range $67.69–$103.2923KsharessoldSold 272K shares (10.1%) · Q4 2023. Average closing price $121.27 · Price range $97.90–$150.09272KsharessoldSold 892K shares (36.6%) · Q1 2024. Average closing price $131.01 · Price range $110.34–$151.33892KsharessoldSold 290K shares (18.8%) · Q2 2024. Average closing price $135.42 · Price range $113.43–$157.57290KsharessoldSold 5K shares (0.4%) · Q4 2024. Average closing price $116.34 · Price range $94.39–$154.275KsharessoldAdded 496K shares (39.8%) · Q1 2025. Average closing price $114.76 · Price range $94.68–$131.34496Ksharespurchased← Earlier —1 purchase
Average closing price · filing quarter
$114.76
Price range · filing quarter
$94.68 – $131.34

Every quarterly change

Quarter Action Shares change Est. value change Δ Own Shares held Filing date
Q2 2025 Exited −1.7M −$183M −100.0% 0 Aug 13, 2025
Q1 2025 Added +496K +$57M +39.8% 1.7M May 14, 2025
Q4 2024 Reduced −5K −$577K −0.4% 1.2M Feb 13, 2025
Q3 2024 First covered 1.3M Nov 13, 2024
Q2 2024 Reduced −290K −$39M −18.8% 1.3M Aug 14, 2024
Q1 2024 Reduced −892K −$117M −36.6% 1.5M May 14, 2024
Q4 2023 Reduced −272K −$33M −10.1% 2.4M Feb 14, 2024
Q3 2023 Reduced −23K −$1.9M −0.8% 2.7M Nov 13, 2023
Q2 2023 Added +589K +$40M +27.5% 2.7M Aug 11, 2023
Q1 2023 Reduced −1.5M −$136M −41.2% 2.1M May 12, 2023
Q4 2022 First covered 3.6M Feb 13, 2023
Q3 2022 Added +252K +$15M +5.2% 5.1M Nov 10, 2022
Q2 2022 Reduced −125K −$5.8M −2.5% 4.8M Aug 11, 2022
Q1 2022 First covered 4.9M May 13, 2022
Q4 2021 Added +742K +$59M +38.7% 2.7M Feb 14, 2022
Q3 2021 Added +802K +$78M +71.8% 1.9M Nov 12, 2021
Q2 2021 Added +1K +$187K +0.1% 1.1M Aug 13, 2021
Q1 2021 First covered 1.1M May 14, 2021
Data through Q2 2025 · filed Aug 13, 2025
18 grouped rows from 18 quarters

Who else owns PDD

Baillie Gifford & Co

owns 8.0% of shares outstanding
Est. $3.4B · Shares: 28.4M

H&h International Investment, LLC

owns 5.5% of shares outstanding
Est. $2.3B · Shares: 19.7M

Hsg Holding Ltd

owns 3.2% of shares outstanding
Est. $1.3B · Shares: 11.3M

Goldman Sachs Group Inc

owns 2.7% of shares outstanding
Est. $1.1B · Shares: 9.7M

See all owners of PDD →

More Dalio positions

Common questions

Does Ray Dalio own PDD?

Not currently. Ray Dalio fully exited PDD in Q2 2025, and the complete history is above. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

When did Ray Dalio buy PDD?

Ray Dalio held PDD since at least Q1 2021, when this filing coverage begins; the opening snapshot is not a disclosed purchase. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

Did Ray Dalio sell PDD?

Yes. Ray Dalio reduced and then fully exited PDD by Q2 2025; the reductions are in the table above. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

How many shares of PDD does Ray Dalio own?

None as of the latest filing: Ray Dalio has exited PDD. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

What price did Ray Dalio pay for PDD?

Ray Dalio began building the PDD position before our 13F history starts, so an exact average buy price cannot be estimated without understating it. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.

How are the estimated trade prices calculated?

13F filings disclose quarter-end holdings, not trade dates or execution prices. These estimates use each covered quarter's average market price; the add average excludes the opening position and quarters without price data. All figures come from SEC 13F filings for Q1 2026, the latest disclosed quarter.