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KE Holdings (BEKE): which funds own it

Real Estate →Data as of Jun 30, 2026 (Q2 2026) · updated on Nov 5, 2026

A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.

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4 concentrated managers hold it (+1 vs last quarter) with a median weight of 3.2%.

Who owns KE Holdings?

KE Holdings trades in the U.S. through ADRs, certificates that represent shares of a non-U.S. company. Form 13F counts ADRs while the company reports ordinary shares, so we do not compute percentages. Holders reporting more than 5% of the ordinary shares to the SEC (Schedules 13D/13G): Baihui Partners, 24.7% (13D/A filed Aug 18, 2026), ZHU Yan, 24.7% (13D/A filed Aug 18, 2026) and Tencent Holdings, 8.7% (13D/A filed Sep 30, 2025). As of Jun 30, 2026, the largest ADR holders reported on Form 13F were Price T Rowe Associates (12.0 million ADRs), Wellington Management Group LLP (8.9 million ADRs) and Pzena Investment Management (8.9 million ADRs).

Which institutions hold the most KE Holdings shares?

Per Form 13F filings as of Jun 30, 2026, in ADRs:

  1. 1. Price T Rowe Associates: 12.0 million ADRs
  2. 2. Wellington Management Group LLP: 8.9 million ADRs
  3. 3. Pzena Investment Management: 8.9 million ADRs
  4. 4. Baird Financial Group: 5.9 million ADRs
  5. 5. Schroder Investment Management Group: 5.9 million ADRs
  6. 6. H Capital V GP: 4.9 million ADRs
  7. 7. Renaissance Technologies: 4.4 million ADRs
  8. 8. UBS Group: 4.1 million ADRs
  9. 9. Goldman Sachs Group: 4.1 million ADRs
  10. 10. Mitsubishi UFJ Trust & Banking: 3.8 million ADRs

Sources:13D/A by Baihui Partners (Aug 18, 2026) ↗13D/A by ZHU Yan (Aug 18, 2026) ↗13D/A by Tencent Holdings (Sep 30, 2025) ↗All of the company's proxy statements on EDGAR ↗

We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.

KE Holdings revenue

KE Holdings reported annual revenue of $13.52 billion for fiscal year 2025 (year ended December 31, 2025), according to its Form 20-F filed with the SEC (XBRL data).

Concentrated managers
4
All 13F: 204
Consensus
—
No score: it needs 5 or more concentrated managers
Price at Jun 30, 2026 (per 13F)
$14.53
-2.9% in the quarter · reported value ÷ shares, not the quote · See current quote ↗

Quarter flow (concentrated managers)

Change in managers (3 → 4): 1 opened · 0 exited = +1

Net flow in the quarter: −$17.5M (−1.2 M shares) · bought $11.8M and sold $29.3MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.

Concentrated managers holding it

Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.

Largest holders of BEKE (all 13F filers)

The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.

Fundamentals

12-month figures to Dec 31, 2025 · balance sheet as of Dec 31, 2025.

Profitability
Operating margin
2.2%
Net margin
3.2%
ROE
4.5%
Growth
Revenue (TTM)
$13.5 bn
Revenue growth
5.6%
Net income (TTM)
$428M
Balance sheet
Net debt / EBITDA
−14.8x
Free cash flow (TTM)
$-141M
Quality vs sector
37/100

Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated

Shares outstanding: buybacks and dilution

Diluted shares by fiscal year (split-adjusted)

2025: 3.47 bn

3.61 bn0
20202025
1 year
−1.8%
3 years
−2.7%
5 years
+53.1%
Buybacks (FY 2025)
$941M
Share issuance
no data
Stock-based compensation
$272M2.0% of revenue
Dividends paid
$412M

From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.

Earnings quality and debt

29.5% of net income does not come from operations.

Operating cash flow ÷ net income (12 months)
-0.13
Interest coverage (operating income ÷ interest)
no data
Debt due within 12 months
$29.7M0.00 times cash and investments

From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.

Insiders (Form 4)

Officers and directors who bought (6 m)
0
Amount (6 m)
$0
CEO/CFO bought (12 m)
No

10% owners who bought (6 m): 0

Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.

Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →

Above 5% (13D/13G)

Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.

This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.

  • Ever Orient International4.7%(fell below 5%)13D · amendmentfiling ↗Event: Sep 25, 2026 · filed: Sep 29, 2026
  • Baihui Partners24.7%13D · amendmentfiling ↗Event: Aug 14, 2026 · filed: Aug 18, 2026
  • ZHU Yan24.7%13D · amendmentfiling ↗Event: Aug 14, 2026 · filed: Aug 18, 2026

Above 5% over time (13D/13G)

Each holder with its filings in order. History since December 2024.

This company filed no 8-K forms in the last year. Foreign companies listed in the US (ADRs) report material events on forms 6-K and 20-F, and ETFs and funds do not file 8-Ks. If it is a foreign company listed in the US through ADRs (American Depositary Receipts), what trades are bank-issued certificates that represent shares from its home market. See its filings on EDGAR ↗

Other Real Estate stocks in managers' portfolios

Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.

All of Real Estate →

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