Carrhae Capital LLP — PDD HOLDINGS INC PDD: Quarterly 13F Position History
Carrhae Capital LLP has reported PDD HOLDINGS INC (PDD) on 20 13F-HR filings in Pactolio's tracked window, first appearing in Q2 2020. As of Q1 2026, the position is sized at 515,274 shares ($52.7M market value, 3.72% of the equity book). Quarter-over-quarter share count change: + 292,620 (+131.4%) .
- 515,274Shares Held (Latest Filing)
- $52.7MReported Market Value (Latest Filing)
- 3.72%Portfolio Weight (% of 13F Equity Book)
- +292,620Quarter-over-Quarter Share Change
- +$27.4MQuarter-over-Quarter Value Change
- 515,274Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 20 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 515,274 | +292,620 | +131.4% | $52.7M | 3.72% | $102.18 |
| Q4 2025 | 222,654 | 164,270 | -42.5% | $25.2M | 1.68% | $113.39 |
| Q3 2025 | 386,924 | 116,671 | -23.2% | $51.1M | 4.86% | $132.17 |
| Q2 2025 | 503,595 | +307,158 | +156.4% | $52.7M | 5.04% | $104.66 |
| Q1 2025 | 196,437 | +136,217 | +226.2% | $23.2M | 2.70% | $118.35 |
| Q4 2024 | 60,220 | +60,220 | — | $5.8M | 0.69% | $96.99 |
| Q3 2023 | 0 | 0 | — | $0 | 0.00% | — |
| Q2 2023 | 0 | 0 | — | $0 | 0.00% | — |
| Q1 2023 | 0 | 0 | — | $0 | 0.00% | — |
| Q4 2022 | 0 | 0 | — | $0 | 0.00% | — |
| Q3 2022 | 0 | 0 | — | $0 | 0.00% | — |
| Q2 2022 | 0 | 0 | — | $0 | 0.00% | — |
| Q1 2022 | 0 | 0 | — | $0 | 0.00% | — |
| Q4 2021 | 0 | 0 | — | $0 | 0.00% | — |
| Q3 2021 | 0 | 0 | — | $0 | 0.00% | — |
| Q2 2021 | 0 | 0 | — | $0 | 0.00% | — |
| Q1 2021 | 0 | 0 | — | $0 | 0.00% | — |
| Q4 2020 | 0 | 0 | — | $0 | 0.00% | — |
| Q3 2020 | 0 | 69,558 | -100.0% | $0 | 0.00% | — |
| Q2 2020 | 69,558 | — | — | $6.0M | 3.81% | $85.84 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did Carrhae Capital LLP first disclose a PDD position in 13F-HR filings?
Carrhae Capital LLP first reported PDD HOLDINGS INC (PDD) on its 13F-HR filing for the period ending 2020-06-30 (Q2 2020). The position has appeared on 20 reported quarters within Pactolio's tracked window.
What was Carrhae Capital LLP's most recent quarter-over-quarter share-count change in PDD?
Between Q4 2025 and Q1 2026, Carrhae Capital LLP added 292,620 shares of PDD (+131.4%), bringing the total reported position to 515,274 shares at a market value of $52.7M.
Does the implied price-per-share represent Carrhae Capital LLP's cost basis in PDD?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.