Himalaya Capital Management — PDD

How Himalaya Capital Management's position in PDD Holdings Inc. changed quarter by quarter. Change badges compare each quarter to the fund's immediately-prior filing.

Quarter	Shares	Value	% of portfolio	Change
Q1 2026	4,608,000	$470,845,440	14.71%	—
Q4 2025	4,608,000	$522,501,120	14.64%	NEW