5 E-commerce Stocks Billionaires Are Loading Up On

4. PDD Holdings Inc. (NASDAQ:PDD)

Number of Billionaire Investors in Q1 2023: 16

PDD Holdings Inc. (NASDAQ:PDD) is an Irish retailer that operates out of Dublin, Ireland. Its electronic commerce platform sells a variety of products ranging from electronics, shoes, bags, clothes, food products, and furniture. The firm was previously known as Pinduoduo and was set up in 2015.

After digging through 943 hedge funds for their first quarter of 2023 investments, Insider Monkey discovered that 62 had held a stake in PDD Holdings Inc. (NASDAQ:PDD). The firm’s largest investor is Lei Zhang’s Hillhouse Capital Management which owns ten million shares that are worth $807 million.

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