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PDD Holdings Inc. 2025-2026 Proxy Voting Records

Compiled from SEC Form N-PX filings. Page generated 02 October 2026.

  • 12Reported items
  • 121Asset managers
  • 2,365Fund votes
  • 2025-12-19Meeting date

Proxy season: 2024-2025 2025-2026

Explore PDD Holdings Inc. in the interactive database Compare manager voting policies

How asset managers voted at the PDD Holdings Inc. 2025-2026 meeting

Each item below shows how the 121 asset managers that disclosed a PDD Holdings Inc. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of PDD Holdings Inc.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Elect Director Anthony Kam Ping Leung

DIRECTOR ELECTIONS

98% fund support · no official result

FOR 98%

The 77 asset managers below cast 98% of the shares they voted on this item FOR (71,511,814 for, 1,820,405 against).

FOR: 71,511,814 (97.5%)AGAINST: 1,820,405 (2.5%)
Largest asset managers voting on “Elect Director Anthony Kam Ping Leung” at PDD Holdings Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard24,945,5690 00For
Fidelity19,339,4540 00For
Invesco4,679,5510 00For
Dodge & Cox3,719,7000 00For
EUPAC FUND3,051,5470 00For
T. Rowe Price01,769,303 00Against
State Street1,712,158875 00For
TIAA1,632,1260 00For
Dimensional1,326,5480 00For
Capital Group1,164,8000 00For
American Century1,087,7400 00For
ProShares912,1860 00For
MFS884,2380 00For
AllianceBernstein846,1060 00For
Delaware/Macquarie830,0000 00For
First Trust788,9480 00For
JPMorgan528,0990 00For
MATTHEWS INTERNATIONAL FUNDS340,6760 00For
Victory Capital292,9810 00For
WisdomTree270,1570 00For
NYLIM VP FUNDS TRUST208,9930 00For
Columbia Threadneedle205,4210 00For
EXCHANGE TRADED CONCEPTS TRUST198,3730 00For
Northern Trust184,1290 00For
BNY Mellon176,9990 00For

Showing the 25 largest of 77 asset managers. See all 77 in the interactive database.

2. Elect Director George Yong-Boon Yeo

DIRECTOR ELECTIONS

87% fund support · no official result

FOR 87%13%

The 77 asset managers below cast 87% of the shares they voted on this item FOR (63,761,967 for, 9,570,252 against).

FOR: 63,761,967 (86.9%)AGAINST: 9,570,252 (13.1%)
Largest asset managers voting on “Elect Director George Yong-Boon Yeo” at PDD Holdings Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard24,945,5690 00For
Fidelity19,339,4540 00For
Invesco04,679,551 00Against
Dodge & Cox3,719,7000 00For
EUPAC FUND3,051,5470 00For
T. Rowe Price01,769,303 00Against
State Street1,712,158875 00For
TIAA01,632,126 00Against
Dimensional1,326,5480 00For
Capital Group1,164,8000 00For
American Century1,087,7400 00For
ProShares912,1860 00For
MFS0884,238 00Against
AllianceBernstein846,1060 00For
Delaware/Macquarie830,0000 00For
First Trust788,9480 00For
JPMorgan528,0990 00For
MATTHEWS INTERNATIONAL FUNDS340,6760 00For
Victory Capital292,9810 00For
WisdomTree270,1570 00For
NYLIM VP FUNDS TRUST195,39313,600 00For
Columbia Threadneedle0205,421 00Against
EXCHANGE TRADED CONCEPTS TRUST198,3730 00For
Northern Trust184,1290 00For
BNY Mellon176,9990 00For

Showing the 25 largest of 77 asset managers. See all 77 in the interactive database.

3. Elect Director Haifeng Lin

DIRECTOR ELECTIONS

13% fund support · no official result

13%AGAINST 87%

The 77 asset managers below cast 13% of the shares they voted on this item FOR (9,479,462 for, 63,852,757 against).

FOR: 9,479,462 (12.9%)AGAINST: 63,852,757 (87.1%)
Largest asset managers voting on “Elect Director Haifeng Lin” at PDD Holdings Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard024,945,569 00Against
Fidelity245,05319,094,401 00Against
Invesco04,679,551 00Against
Dodge & Cox3,719,7000 00For
EUPAC FUND3,051,5470 00For
T. Rowe Price01,769,303 00Against
State Street2271,712,806 00Against
TIAA01,632,126 00Against
Dimensional01,326,548 00Against
Capital Group1,164,8000 00For
American Century01,087,740 00Against
ProShares0912,186 00Against
MFS0884,238 00Against
AllianceBernstein0846,106 00Against
Delaware/Macquarie0830,000 00Against
First Trust0788,948 00Against
JPMorgan0528,099 00Against
MATTHEWS INTERNATIONAL FUNDS0340,676 00Against
Victory Capital0292,981 00Against
WisdomTree0270,157 00Against
NYLIM VP FUNDS TRUST195,39313,600 00For
Columbia Threadneedle205,4210 00For
EXCHANGE TRADED CONCEPTS TRUST0198,373 00Against
Northern Trust184,1290 00For
BNY Mellon172,4504,549 00For

Showing the 25 largest of 77 asset managers. See all 77 in the interactive database.

4. Elect Director Ivonne M.C.M. Rietjens

DIRECTOR ELECTIONS

97% fund support · no official result

FOR 97%

The 77 asset managers below cast 97% of the shares they voted on this item FOR (71,384,713 for, 1,947,506 against).

FOR: 71,384,713 (97.3%)AGAINST: 1,947,506 (2.7%)
Largest asset managers voting on “Elect Director Ivonne M.C.M. Rietjens” at PDD Holdings Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard24,945,5690 00For
Fidelity19,339,4540 00For
Invesco4,679,5510 00For
Dodge & Cox3,719,7000 00For
EUPAC FUND3,051,5470 00For
T. Rowe Price01,769,303 00Against
State Street1,712,158875 00For
TIAA1,632,1260 00For
Dimensional1,326,5480 00For
Capital Group1,164,8000 00For
American Century1,087,7400 00For
ProShares912,1860 00For
MFS884,2380 00For
AllianceBernstein846,1060 00For
Delaware/Macquarie830,0000 00For
First Trust788,9480 00For
JPMorgan528,0990 00For
MATTHEWS INTERNATIONAL FUNDS340,6760 00For
Victory Capital292,9810 00For
WisdomTree270,1570 00For
NYLIM VP FUNDS TRUST208,9930 00For
Columbia Threadneedle205,4210 00For
EXCHANGE TRADED CONCEPTS TRUST198,3730 00For
Northern Trust184,1290 00For
BNY Mellon176,9990 00For

Showing the 25 largest of 77 asset managers. See all 77 in the interactive database.

5. Elect Director Jiazhen Zhao

DIRECTOR ELECTIONS

24% fund support · no official result

FOR 24%AGAINST 76%

The 77 asset managers below cast 24% of the shares they voted on this item FOR (17,911,132 for, 55,421,087 against).

FOR: 17,911,132 (24.4%)AGAINST: 55,421,087 (75.6%)
Largest asset managers voting on “Elect Director Jiazhen Zhao” at PDD Holdings Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard024,945,569 00Against
Fidelity245,05319,094,401 00Against
Invesco4,679,5510 00For
Dodge & Cox3,719,7000 00For
EUPAC FUND3,051,5470 00For
T. Rowe Price1,769,3030 00For
State Street3461,712,687 00Against
TIAA01,632,126 00Against
Dimensional01,326,548 00Against
Capital Group1,164,8000 00For
American Century01,087,740 00Against
ProShares0912,186 00Against
MFS884,2380 00For
AllianceBernstein846,1060 00For
Delaware/Macquarie0830,000 00Against
First Trust0788,948 00Against
JPMorgan0528,099 00Against
MATTHEWS INTERNATIONAL FUNDS0340,676 00Against
Victory Capital0292,981 00Against
WisdomTree0270,157 00Against
NYLIM VP FUNDS TRUST208,9930 00For
Columbia Threadneedle205,4210 00For
EXCHANGE TRADED CONCEPTS TRUST0198,373 00Against
Northern Trust184,1290 00For
BNY Mellon172,4504,549 00For

Showing the 25 largest of 77 asset managers. See all 77 in the interactive database.

6. Elect Director Lei Chen

DIRECTOR ELECTIONS

24% fund support · no official result

FOR 24%AGAINST 76%

The 77 asset managers below cast 24% of the shares they voted on this item FOR (17,825,391 for, 55,506,828 against).

FOR: 17,825,391 (24.3%)AGAINST: 55,506,828 (75.7%)
Largest asset managers voting on “Elect Director Lei Chen” at PDD Holdings Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard024,945,569 00Against
Fidelity245,05319,094,401 00Against
Invesco4,679,5510 00For
Dodge & Cox3,719,7000 00For
EUPAC FUND3,051,5470 00For
T. Rowe Price1,769,3030 00For
State Street3461,712,687 00Against
TIAA01,632,126 00Against
Dimensional01,326,548 00Against
Capital Group1,164,8000 00For
American Century01,087,740 00Against
ProShares0912,186 00Against
MFS884,2380 00For
AllianceBernstein846,1060 00For
Delaware/Macquarie0830,000 00Against
First Trust0788,948 00Against
JPMorgan0528,099 00Against
MATTHEWS INTERNATIONAL FUNDS0340,676 00Against
Victory Capital0292,981 00Against
WisdomTree0270,157 00Against
NYLIM VP FUNDS TRUST195,39313,600 00For
Columbia Threadneedle205,4210 00For
EXCHANGE TRADED CONCEPTS TRUST0198,373 00Against
Northern Trust184,1290 00For
BNY Mellon172,4504,549 00For

Showing the 25 largest of 77 asset managers. See all 77 in the interactive database.

7. As an ordinary resolution: THAT Dr. Ivonne M.C.M. Rietjens be re- elected as a director of the Company.

DIRECTOR ELECTIONS

99.1% fund support · no official result

FOR 99%

The 51 asset managers below cast 99.1% of the shares they voted on this item FOR (28,678,553 for, 256,350 against).

FOR: 28,678,553 (98.9%)AGAINST: 256,350 (0.9%)ABSTAIN: 52,504 (0.2%)
Largest asset managers voting on “As an ordinary resolution: THAT Dr. Ivonne M.C.M. Rietjens be re- elected as a director of the Company.” at PDD Holdings Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock12,384,508124,085 00For
Krane Shares Trust5,744,9370 00For
Vanguard5,577,5730 00For
Charles Schwab1,223,8630 00For
BAILLIE GIFFORD FUNDS839,9540 00For
Jackson National432,75458,644 00For
Global X486,1550 00For
Hartford452,8340 00For
NEOS ETF Trust243,0540 00For
John Hancock231,9900 00For
Russell Investments115,2270 00For
Fidelity113,0140 00For
Brighthouse85,1500 9,3910For
Mercer Funds91,0110 00For
MASTER INVESTMENT PORTFOLIO44,85738,152 00For
SEI77,4090 00For
Prudential/PGIM74,1420 00For
Investment Managers Series Trust67,4240 00For
First Trust59,2130 00For
TRUST FOR PROFESSIONAL MANAGERS46,7280 00For
Pacer Funds Trust45,6410 00For
Series Portfolios Trust00 43,1130Abstain
OPTIMUM FUND TRUST28,3610 00For
VanEck Funds23,7000 00For
CARILLON SERIES TRUST22,5000 00For

Showing the 25 largest of 51 asset managers. See all 51 in the interactive database.

8. As an ordinary resolution: THAT Mr. Anthony Kam Ping Leung be re-elected as a director of the Company.

DIRECTOR ELECTIONS

73% fund support · no official result

FOR 73%AGAINST 27%

The 51 asset managers below cast 73% of the shares they voted on this item FOR (21,080,248 for, 7,854,655 against).

FOR: 21,080,248 (72.7%)AGAINST: 7,854,655 (27.1%)ABSTAIN: 52,504 (0.2%)
Largest asset managers voting on “As an ordinary resolution: THAT Mr. Anthony Kam Ping Leung be re-elected as a director of the Company.” at PDD Holdings Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock12,508,5930 00For
Krane Shares Trust05,744,937 00Against
Vanguard5,577,5730 00For
Charles Schwab01,223,863 00Against
BAILLIE GIFFORD FUNDS839,9540 00For
Jackson National432,75458,644 00For
Global X3,538482,617 00Against
Hartford452,8340 00For
NEOS ETF Trust243,0540 00For
John Hancock231,9900 00For
Russell Investments0115,227 00Against
Fidelity113,0140 00For
Brighthouse85,1500 9,3910For
Mercer Funds40,12950,882 00Against
MASTER INVESTMENT PORTFOLIO83,0090 00For
SEI077,409 00Against
Prudential/PGIM74,1420 00For
Investment Managers Series Trust67,4240 00For
First Trust59,2130 00For
TRUST FOR PROFESSIONAL MANAGERS46,7280 00For
Pacer Funds Trust45,6410 00For
Series Portfolios Trust00 43,1130Abstain
OPTIMUM FUND TRUST28,3610 00For
VanEck Funds023,700 00Against
CARILLON SERIES TRUST22,5000 00For

Showing the 25 largest of 51 asset managers. See all 51 in the interactive database.

9. As an ordinary resolution: THAT Mr. George Yong-Boon Yeo be re- elected as a director of the Company.

DIRECTOR ELECTIONS

27% fund support · no official result

FOR 27%AGAINST 73%

The 51 asset managers below cast 27% of the shares they voted on this item FOR (7,907,715 for, 21,027,188 against).

FOR: 7,907,715 (27.3%)AGAINST: 21,027,188 (72.5%)ABSTAIN: 52,504 (0.2%)
Largest asset managers voting on “As an ordinary resolution: THAT Mr. George Yong-Boon Yeo be re- elected as a director of the Company.” at PDD Holdings Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock012,508,593 00Against
Krane Shares Trust05,744,937 00Against
Vanguard5,577,5730 00For
Charles Schwab01,223,863 00Against
BAILLIE GIFFORD FUNDS839,9540 00For
Jackson National432,75458,644 00For
Global X3,538482,617 00Against
Hartford0452,834 00Against
NEOS ETF Trust243,0540 00For
John Hancock231,9900 00For
Russell Investments0115,227 00Against
Fidelity0113,014 00Against
Brighthouse85,1500 9,3910For
Mercer Funds40,12950,882 00Against
MASTER INVESTMENT PORTFOLIO083,009 00Against
SEI077,409 00Against
Prudential/PGIM74,1420 00For
Investment Managers Series Trust67,4240 00For
First Trust59,2130 00For
TRUST FOR PROFESSIONAL MANAGERS46,7280 00For
Pacer Funds Trust45,6410 00For
Series Portfolios Trust00 43,1130Abstain
OPTIMUM FUND TRUST28,3610 00For
VanEck Funds023,700 00Against
CARILLON SERIES TRUST22,5000 00For

Showing the 25 largest of 51 asset managers. See all 51 in the interactive database.

10. As an ordinary resolution: THAT Mr. Haifeng Lin be re-elected as a director of the Company.

DIRECTOR ELECTIONS

28% fund support · no official result

FOR 28%AGAINST 72%

The 51 asset managers below cast 28% of the shares they voted on this item FOR (8,000,387 for, 20,934,516 against).

FOR: 8,000,387 (27.6%)AGAINST: 20,934,516 (72.2%)ABSTAIN: 52,504 (0.2%)
Largest asset managers voting on “As an ordinary resolution: THAT Mr. Haifeng Lin be re-elected as a director of the Company.” at PDD Holdings Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock124,08512,384,508 00Against
Krane Shares Trust05,744,937 00Against
Vanguard5,577,5730 00For
Charles Schwab01,223,863 00Against
BAILLIE GIFFORD FUNDS839,9540 00For
Jackson National30,202461,196 00Against
Global X0486,155 00Against
Hartford452,8340 00For
NEOS ETF Trust243,0540 00For
John Hancock39,786192,204 00Against
Russell Investments0115,227 00Against
Fidelity113,0140 00For
Brighthouse85,1500 9,3910For
Mercer Funds40,12950,882 00Against
MASTER INVESTMENT PORTFOLIO38,15244,857 00Against
SEI077,409 00Against
Prudential/PGIM74,1420 00For
Investment Managers Series Trust67,4240 00For
First Trust59,2130 00For
TRUST FOR PROFESSIONAL MANAGERS46,7280 00For
Pacer Funds Trust45,6410 00For
Series Portfolios Trust00 43,1130Abstain
OPTIMUM FUND TRUST28,3610 00For
VanEck Funds023,700 00Against
CARILLON SERIES TRUST022,500 00Against

Showing the 25 largest of 51 asset managers. See all 51 in the interactive database.

11. As an ordinary resolution: THAT Mr. Jiazhen Zhao be re-elected as a director of the Company.

DIRECTOR ELECTIONS

98% fund support · no official result

FOR 98%

The 51 asset managers below cast 98% of the shares they voted on this item FOR (28,276,768 for, 658,135 against).

FOR: 28,276,768 (97.5%)AGAINST: 658,135 (2.3%)ABSTAIN: 52,504 (0.2%)
Largest asset managers voting on “As an ordinary resolution: THAT Mr. Jiazhen Zhao be re-elected as a director of the Company.” at PDD Holdings Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock12,508,5930 00For
Krane Shares Trust5,744,9370 00For
Vanguard5,577,5730 00For
Charles Schwab1,223,8630 00For
BAILLIE GIFFORD FUNDS839,9540 00For
Jackson National88,846402,552 00Against
Global X482,6173,538 00For
Hartford452,8340 00For
NEOS ETF Trust243,0540 00For
John Hancock39,786192,204 00Against
Russell Investments115,2270 00For
Fidelity113,0140 00For
Brighthouse85,1500 9,3910For
Mercer Funds91,0110 00For
MASTER INVESTMENT PORTFOLIO83,0090 00For
SEI77,4090 00For
Prudential/PGIM74,1420 00For
Investment Managers Series Trust67,4240 00For
First Trust59,2130 00For
TRUST FOR PROFESSIONAL MANAGERS46,7280 00For
Pacer Funds Trust45,6410 00For
Series Portfolios Trust00 43,1130Abstain
OPTIMUM FUND TRUST28,3610 00For
VanEck Funds23,7000 00For
CARILLON SERIES TRUST022,500 00Against

Showing the 25 largest of 51 asset managers. See all 51 in the interactive database.

12. As an ordinary resolution: THAT Mr. Lei Chen be re-elected as a director of the Company.

DIRECTOR ELECTIONS

98% fund support · no official result

FOR 98%

The 51 asset managers below cast 98% of the shares they voted on this item FOR (28,276,768 for, 658,135 against).

FOR: 28,276,768 (97.5%)AGAINST: 658,135 (2.3%)ABSTAIN: 52,504 (0.2%)
Largest asset managers voting on “As an ordinary resolution: THAT Mr. Lei Chen be re-elected as a director of the Company.” at PDD Holdings Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
BlackRock12,508,5930 00For
Krane Shares Trust5,744,9370 00For
Vanguard5,577,5730 00For
Charles Schwab1,223,8630 00For
BAILLIE GIFFORD FUNDS839,9540 00For
Jackson National88,846402,552 00Against
Global X482,6173,538 00For
Hartford452,8340 00For
NEOS ETF Trust243,0540 00For
John Hancock39,786192,204 00Against
Russell Investments115,2270 00For
Fidelity113,0140 00For
Brighthouse85,1500 9,3910For
Mercer Funds91,0110 00For
MASTER INVESTMENT PORTFOLIO83,0090 00For
SEI77,4090 00For
Prudential/PGIM74,1420 00For
Investment Managers Series Trust67,4240 00For
First Trust59,2130 00For
TRUST FOR PROFESSIONAL MANAGERS46,7280 00For
Pacer Funds Trust45,6410 00For
Series Portfolios Trust00 43,1130Abstain
OPTIMUM FUND TRUST28,3610 00For
VanEck Funds23,7000 00For
CARILLON SERIES TRUST022,500 00Against

Showing the 25 largest of 51 asset managers. See all 51 in the interactive database.

Largest PDD Holdings Inc. shareholders voting in 2025-2026

Ranked by the number of PDD Holdings Inc. shares each manager voted on the most widely held ballot item of the 2025-2026 meeting, shown as a share of the 5,568,585,848 shares outstanding at the time of that meeting.

Top PDD Holdings Inc. shareholders by shares voted, 2025-2026
#Asset manager % of shares outstanding
1Vanguard 0.45%
2Fidelity 0.35%
3Invesco 0.08%
4Dodge & Cox 0.07%
5EUPAC FUND 0.05%
6T. Rowe Price 0.03%
7State Street 0.03%
8TIAA 0.03%
9Dimensional 0.02%
10Capital Group 0.02%

Reported PDD Holdings Inc. ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

PDD Holdings Inc. beneficial owners on record for the 2025-2026 proxy season
Holder % outstanding Disclosure
BlackRock 0.71% 13F
Vanguard Group 0.59% 13F
Goldman Sachs 0.23% 13F
State Street 0.22% 13F
Citadel Advisors 0.15% 13F
JPMorgan Chase 0.14% 13F
Geode Capital 0.12% 13F
Invesco 0.12% 13F
FMR (Fidelity) 0.11% 13F
Morgan Stanley 0.11% 13F

Percentages above are of 5,568,585,848 shares outstanding, as reported by PDD Holdings Inc. on its Form 20-F dated 2024-12-31 (see the filing on EDGAR). This is the count contemporaneous with the 2025-2026 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from PDD Holdings Inc.’s 20-F dated 2024-12-31. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At PDD Holdings Inc.'s shareholder meeting held 2025-12-19, in the 2025-2026 proxy season, 121 asset managers reported how they voted in their SEC Form N-PX filings, covering 2,365 separate fund positions. Their filings are grouped here into 12 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. No official Form 8-K vote tally has been matched to this meeting, so this page states no certified outcome for its most widely held ballot item. On that item — Elect Director Anthony Kam Ping Leung — the reporting funds cast 98% of the shares they voted in favour (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). That is the aggregate of those managers' own N-PX disclosures, not the company's certified result, and the funds are a subset of all shareholders.

PDD Holdings Inc. proxy season coverage: 2024-2025 · 2025-2026 (this page).