Yes, Vanguard FTSE Emerging Markets ETF (VWO) holds PDD with 0.63% (as of 2026-06-16).

PDD Holdings Inc. (PDD) is held by VWO (0.63%).

What AI bubble is PDD in?

PDD Holdings Inc. (PDD) is mapped to the Nuclear / SMR bubble on QuantAbundance. Classifier 2026-05-07: extended tier, corr 0.53 to nuclear-smr centroid (29 obs, 2nd: quantum 0.296). is_primary_bubble=FALSE.

What sector is PDD in?

PDD Holdings Inc. is classified under GICS Consumer Discretionary (Broadline Retail).

What is PDD's last close price?

PDD last closed at $78.08 on 2026-09-24.

PDD

NASDAQNext earnings·Nov 18AnalystsBuy·34+47%

PDD Holdings Inc.

Consumer Discretionary · Broadline Retail

$78.08last close

-40.4%~252d

Price

-40.38% over 1Y

1 auto-fib

Thesis

as of 2026-09-23

Bull case

Structural read: PDD is a two-engine take-rate story - Pinduoduo (mature, profitable China discount marketplace tilted toward lower-tier cities + agriculture) and Temu (cross-border land-grab, sub-scale, burning marketing $ to convert Western shoppers off $AMZN/$WMT/$SHOP).

Group operating margin in the 25-30% range masks a profitable PDD core subsidizing a loss-making Temu push. Stock trades at a structural discount to US peers on ADR delisting risk + China VIE structure + Temu de-minimis tariff overhang (US $800 threshold removal under discussion).

Q1 FY26 revenue decel + management warning on "fierce competition" reset multiples in 2025.

- Pinduoduo monetization runway: take-rate still below $BABA Taobao/Tmall; agriculture vertical structurally underpenetrated

- Temu GMV scaling triple-digit YoY; cohort retention improving as catalog broadens beyond apparel

- Net cash >$40B (~35% of market cap) - buyback optionality if Beijing approves

- Asset-light marketplace model - no inventory risk, opex scales with ad revenue

Bear case

- Temu loses money on every order; de-minimis tariff removal would compress unit economics structurally

- $AMZN Haul + $SHEIN + TikTok Shop directly target Temu wedge - first-mover advantage thinning

- China consumer macro weak; Pinduoduo take-rate hikes met merchant backlash 2024-25

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Analyze PDD· interactive tools

Bubbles· capital-flow co-movement

Top correlated· 252d co-movement

0.59
0.57
0.50
0.43
0.39

Frequently asked questions

Is PDD in VWO?: Yes, Vanguard FTSE Emerging Markets ETF (VWO) holds PDD with 0.63% (as of 2026-06-16).
What ETFs hold PDD?: PDD Holdings Inc. (PDD) is held by VWO (0.63%).
What AI bubble is PDD in?: PDD Holdings Inc. (PDD) is mapped to the Nuclear / SMR bubble on QuantAbundance. Classifier 2026-05-07: extended tier, corr 0.53 to nuclear-smr centroid (29 obs, 2nd: quantum 0.296). is_primary_bubble=FALSE.
What sector is PDD in?: PDD Holdings Inc. is classified under GICS Consumer Discretionary (Broadline Retail).
What is PDD's last close price?: PDD last closed at $78.08 on 2026-09-24.

Key levels

$86.38
0.786 retr of 71.94->139.41 (52w) · 2026-09-24
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
-9.6%
$97.71
0.618 retr of 71.94->139.41 (52w) · 2026-09-24
Out of reach · reference only
-20.1%
$105.67
0.5 retr of 71.94->139.41 (52w) · 2026-09-24
Out of reach · reference only
-26.1%
$113.64
0.382 retr of 71.94->139.41 (52w) · 2026-09-24
Out of reach · reference only
-31.3%

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Facts

Exchange: NASDAQ
Currency: USD
Market cap: $112.73B
Last update: 2026-09-24

Revenue (TTM)$67.3B

P/E8.5×

P/S0.3×

Net margin20.4%

PDD