% of shares outstanding not shown: this line files 20-F annual reports only — a foreign private issuer whose US listing trades as ADSs (depositary receipts), while its cover-page share count is in ORDINARY shares. The depositary ratio is not in our data. The count we hold for this line is 433,541,553 shares (as of 2025-12-31, source dei). Dividing one by the other is wrong by the whole ratio (a 5:1 ADR reads one fifth of the true percentage), so the percentage is withheld rather than served wrong. Holder share counts are shown as filed.
Crowding percentile withheld — no market cap for PONY in the served universe — the cohort is size-matched, and an unmatched percentile would compare a micro-cap register to a mega-cap one.
| # | Holder | Shares | Value | % of shares out | Δ QoQ |
|---|---|---|---|---|---|
| 1 | FMR LLC | 13,910,92613.9M | $131M | — | TRIM -21% |
| 2 | HSG Holding Ltd | 7,538,3587.5M | $100M | — | NEW |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 7,868,3497.9M | $74M | — | NEW |
| 4 | TMT General Partner Ltd | 6,942,1356.9M | $66M | — | ADD 262% |
| 5 | ONTARIO TEACHERS PENSION PLAN BOARD | 6,492,5306.5M | $61M | — | — |
| 6 | BAILLIE GIFFORD & CO | 6,359,4686.4M | $60M | — | — |
| 7 | MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 4,276,5524.3M | $40M | — | — |
| 8 | Aspex Management (HK) Ltd | 4,140,4474.1M | $39M | — | — |
| 9 | IDG China Venture Capital Fund IV Associates L.P. | 3,989,2504.0M | $38M | — | ADD 80% |
| 10 | Lingotto Investment Management LLP | 3,324,0683.3M | $31M | — | TRIM -19% |
| 11 | MORGAN STANLEY | 3,203,9443.2M | $30M | — | ADD 6% |
| 12 | WELLINGTON MANAGEMENT GROUP LLP | 3,033,7863.0M | $29M | — | ADD 7% |
| 13 | TIGER GLOBAL MANAGEMENT LLCtracked | 2,900,0002.9M | $27M | — | — |
| 14 | Carlyle Group Inc. | 2,362,4472.4M | $22M | — | — |
| 15 | VANGUARD FIDUCIARY TRUST CO | 2,142,0152.1M | $20M | — | NEW |
| 16 | BAMCO INC /NY/ | 2,125,6432.1M | $20M | — | TRIM -18% |
| 17 | ARK Investment Management LLC | 1,926,1511.9M | $18M | — | ADD 17% |
| 18 | UBS Group AG | 1,891,6371.9M | $18M | — | ADD 64% |
| 19 | CITADEL ADVISORS LLC | 1,864,9021.9M | $18M | — | TRIM -28% |
| 20 | Sumitomo Mitsui Trust Group, Inc. | 1,821,7351.8M | $17M | — | TRIM -8% |
| 21 | Amova Asset Management Americas, Inc. | 1,821,7351.8M | $17M | — | TRIM -8% |
| 22 | FIL Ltd | 1,673,0831.7M | $16M | — | TRIM -27% |
| 23 | M&G PLC | 1,638,3261.6M | $15M | — | ADD 269% |
| 24 | SOROS FUND MANAGEMENT LLC | 1,292,3091.3M | $12M | — | ADD 5% |
| 25 | Holocene Advisors, LP | 1,224,5551.2M | $12M | — | NEW |
| 26 | Eurizon Capital SGR S.p.A. | 1,180,0541.2M | $11M | — | NEW |
| 27 | MASTERS CAPITAL MANAGEMENT LLC | 950,000950,000 | $9M | — | TRIM -21% |
| 28 | Marex Group plc | 860,929860,929 | $8M | — | ADD 52% |
| 29 | Flight Deck Capital, LP | 839,900839,900 | $8M | — | — |
| 30 | Abu Dhabi Investment Council Co P.J.S.C | 33,44233,442 | $8M | — | NEW |
| 31 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 759,139759,139 | $7M | — | TRIM -26% |
| 32 | Mirae Asset Global Investments Co., Ltd. | 720,822720,822 | $7M | — | TRIM -20% |
| 33 | Yiheng Capital Management, L.P. | 653,215653,215 | $6M | — | — |
| 34 | SG Americas Securities, LLC | 571,575571,575 | $5M | — | ADD 5% |
| 35 | ARMISTICE CAPITAL, LLC | 536,000536,000 | $5M | — | ADD 15% |
| 36 | STATE STREET CORP | 504,263504,263 | $5M | — | ADD 9% |
| 37 | GOLDMAN SACHS GROUP INC | 487,999487,999 | $5M | — | ADD 101% |
| 38 | Vontobel Holding Ltd. | 478,708478,708 | $5M | — | NEW |
| 39 | Mitsubishi UFJ Trust & Banking Corp | 473,317473,317 | $4M | — | NEW |
| 40 | Yunqi Capital Ltd | 415,000415,000 | $4M | — | — |
| 41 | Legal & General Group Plc | 393,896393,896 | $4M | — | ADD 149% |
| 42 | VANGUARD ASSET MANAGEMENT, Ltd | 373,664373,664 | $4M | — | NEW |
| 43 | Evergreen Quality Fund GP, Ltd. | 349,800349,800 | $3M | — | ADD 250% |
| 44 | Pictet Asset Management Holding SA | 333,014333,014 | $3M | — | NEW |
| 45 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 315,915315,915 | $3M | — | NEW |
| 46 | Baader Bank Aktiengesellschaft | 204,504204,504 | $2M | — | TRIM -11% |
| 47 | DNCA FINANCE | 187,500187,500 | $2M | — | NEW |
| 48 | Squarepoint Ops LLC | 173,079173,079 | $2M | — | ADD 282% |
| 49 | FRANKLIN RESOURCES INC | 163,676163,676 | $2M | — | NEW |
| 50 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 162,556162,556 | $2M | — | TRIM -7% |
| 51 | Jump Financial, LLC | 162,095162,095 | $2M | — | NEW |
| 52 | BlackRock, Inc. | 156,327156,327 | $1M | — | ADD 4013% |
| 53 | Verition Fund Management LLC | 150,078150,078 | $1M | — | TRIM -84% |
| 54 | SCHRODER INVESTMENT MANAGEMENT GROUP | 149,171149,171 | $1M | — | TRIM -2% |
| 55 | BANK OF AMERICA CORP /DE/ | 137,854137,854 | $1M | — | TRIM -54% |
| 56 | CITIGROUP INC | 137,361137,361 | $1M | — | TRIM -29% |
| 57 | Mitsubishi UFJ Asset Management Co., Ltd. | 135,757135,757 | $1M | — | TRIM -5% |
| 58 | PNC FINANCIAL SERVICES GROUP, INC. | 130,000130,000 | $1M | — | — |
| 59 | Renaissance Capital LLC | 119,586119,586 | $1M | — | ADD 608% |
| 60 | Quantinno Capital Management LP | 110,340110,340 | $1M | — | NEW |
| 61 | XTX Topco Ltd | 108,901108,901 | $1M | — | NEW |
| 62 | MONEY CONCEPTS CAPITAL CORP | 106,065106,065 | $1M | — | ADD 13% |
| 63 | Point72 Asset Management, L.P. | 103,560103,560 | $977,606 | — | TRIM -97% |
| 64 | Cresset Asset Management, LLC | 100,491100,491 | $948,635 | — | TRIM -2% |
| 65 | IMC-Chicago, LLC | 95,32195,321 | $899,830 | — | NEW |
| 66 | Walleye Trading LLC | 72,79972,799 | $687,223 | — | NEW |
| 67 | D. E. Shaw & Co., Inc. | 72,46972,469 | $684,107 | — | ADD 33% |
| 68 | Man Group plc | 71,87771,877 | $678,519 | — | TRIM -51% |
| 69 | Lansforsakringar Fondforvaltning AB (publ) | 71,50171,501 | $674,966 | — | TRIM -15% |
| 70 | Invesco Ltd. | 64,97864,978 | $613,392 | — | TRIM -5% |
| 71 | CAPITAL FUND MANAGEMENT S.A. | 60,05860,058 | $566,947 | — | TRIM -84% |
| 72 | HRT FINANCIAL LP | 58,72658,726 | $554,000 | — | ADD 24% |
| 73 | HSBC HOLDINGS PLC | 60,47260,472 | $552,876 | — | NEW |
| 74 | Engineers Gate Manager LP | 57,90357,903 | $546,604 | — | NEW |
| 75 | MARSHALL WACE, LLP | 52,24452,244 | $493,184 | — | TRIM -98% |
| 76 | Electron Capital Partners, LLC | 50,36750,367 | $475,463 | — | — |
| 77 | PROFUND ADVISORS LLC | 49,08749,087 | $463,381 | — | ADD 7% |
| 78 | Green Alpha Advisors, LLC | 41,17141,171 | $388,654 | — | TRIM -4% |
| 79 | LPL Financial LLC | 41,10741,107 | $388,050 | — | ADD 120% |
| 80 | NORTHERN TRUST CORP | 39,37339,373 | $371,681 | — | NEW |
| 81 | Belvedere Trading LLC | 37,94837,948 | $358,229 | — | NEW |
| 82 | NOMURA HOLDINGS INC | 36,47436,474 | $344,315 | — | TRIM -46% |
| 83 | Krane Funds Advisors LLC | 37,56937,569 | $336,806 | — | ADD 6% |
| 84 | Polymer Capital Management (HK) LTD | 34,73234,732 | $327,870 | — | NEW |
| 85 | Balyasny Asset Management L.P. | 32,81532,815 | $309,774 | — | TRIM -92% |
| 86 | Pathstone Holdings, LLC | 30,84630,846 | $291,186 | — | — |
| 87 | Handelsbanken Fonder AB | 30,70030,700 | $290,000 | — | ADD 124% |
| 88 | Venturi Wealth Management, LLC | 27,97427,974 | $264,075 | — | NEW |
| 89 | Aaron Wealth Advisors LLC | 24,91124,911 | $235,160 | — | NEW |
| 90 | IEQ CAPITAL, LLC | 24,58624,586 | $232,092 | — | ADD 3% |
| 91 | Focus Partners Wealth | 22,60622,606 | $213,401 | — | ADD 3% |
| 92 | SIMPLEX TRADING, LLC | 22,04922,049 | $208,142 | — | TRIM -74% |
| 93 | Legend Capital Advisors LLC | 21,98021,980 | $207,491 | — | — |
| 94 | GROUP ONE TRADING LLC | 20,14820,148 | $190,197 | — | TRIM -7% |
| 95 | IFP Advisors, Inc | 20,05620,056 | $189,329 | — | ADD 231% |
| 96 | SBI Securities Co., Ltd. | 19,87219,872 | $187,592 | — | ADD 4% |
| 97 | Cetera Investment Advisers | 19,35019,350 | $182,664 | — | TRIM -23% |
| 98 | Marathon Trading Investment Management LLC | 16,80016,800 | $158,592 | — | NEW |
| 99 | Cerity Partners LLC | 16,62416,624 | $156,931 | — | NEW |
| 100 | Mariner, LLC | 15,93315,933 | $150,403 | — | NEW |
Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.
| Holder | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| FMR LLC | — | 2.9M | 5.7M | 16.5M | 17.6M | 13.9M | $131M |
| HSG Holding Ltd | — | — | 5.9M | 1.1M | — | 7.5M | $100M |
| VANGUARD CAPITAL MANAGEMENT LLC | — | — | — | — | — | 7.9M | $74M |
| TMT General Partner Ltd | — | — | 5.4M | 3.2M | 1.9M | 6.9M | $66M |
| ONTARIO TEACHERS PENSION PLAN BOARD | — | — | 6.5M | 6.5M | 6.5M | 6.5M | $61M |
| BAILLIE GIFFORD & CO | — | — | 7.1M | 6.5M | 6.3M | 6.4M | $60M |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | — | — | — | 4.0M | 4.2M | 4.3M | $40M |
| Aspex Management (HK) Ltd | 2.4M | 2.4M | 500K | 4.1M | 4.1M | 4.1M | $39M |
| IDG China Venture Capital Fund IV Associates L.P. | 10.1M | 10.1M | 9.9M | 9.3M | 2.2M | 4.0M | $38M |
| Lingotto Investment Management LLP | 1.2M | 1.5M | 2.4M | 4.8M | 4.1M | 3.3M | $31M |
| MORGAN STANLEY | 998 | 1.4M | 527K | 3.3M | 3.0M | 3.2M | $30M |
| WELLINGTON MANAGEMENT GROUP LLP | 1.3M | 2.0M | 2.3M | 2.2M | 2.8M | 3.0M | $29M |
| TIGER GLOBAL MANAGEMENT LLCtracked | 370K | 370K | 370K | 370K | 2.9M | 2.9M | $27M |
| Carlyle Group Inc. | 2.4M | 2.4M | 2.4M | 2.4M | 2.4M | 2.4M | $22M |
| VANGUARD FIDUCIARY TRUST CO | — | — | — | — | — | 2.1M | $20M |
Shares reported each quarter by the largest current holders. Green = added vs the prior filing, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
Holder count only — too few computable %-of-shares-outstanding quarters for a % pane. Line breaks are quarters with no 13F record, never interpolated.
| Quarter | Holders | Shares held | % shares out | Value held |
|---|---|---|---|---|
| 2026-Q1 | 148 | 111,344,179 | — | $1.1B |
| 2025-Q4 | 140 | 98,235,244 | — | $1.4B |
| 2025-Q3 | 141 | 110,513,674 | — | $2.5B |
| 2025-Q2 | 110 | 77,639,247 | — | $1.0B |
| 2025-Q1 | 58 | 42,656,295 | — | $371M |
| 2024-Q4 | 46 | 34,958,097 | — | $502M |
Short interest has its own tab now — open SI →
Source: SEC Form 13F — every institution manager (≥ $100M in 13F securities) reporting a long US-listed position, across ~10,250 filers over 10 years of history. 13F is long-only, US-listed, filed up to 45 days after quarter-end.
| Biggest buyers | Δ shares | Δ value | |
|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | +7,868,349 | $74M | OPEN |
| HSG Holding Ltd | +7,538,358 | $71M | OPEN |
| TMT General Partner Ltd | +5,024,721 | $47M | ADD |
| VANGUARD FIDUCIARY TRUST CO | +2,142,015 | $20M | OPEN |
| IDG China Venture Capital Fund IV Associates L.P. | +1,773,000 | $17M | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| FMR LLC | −3,704,691 | $35M | TRIM |
| Point72 Asset Management, L.P. | −3,106,403 | $29M | TRIM |
| MARSHALL WACE, LLP | −2,450,467 | $23M | TRIM |
| JANE STREET GROUP, LLC | −2,004,782 | $19M | CLOSE |
| Lingotto Investment Management LLP | −783,444 | $7M | TRIM |
The 2025-Q4 register is as-filed in ITS OWN share basis; every count below was rebased into the 2026-Q1 basis (no split in between, factor 1). Dollar figures value the SHARE delta at one price — the 2026-03-31 close — rather than differencing two filings' own reported values, which would mix the quarter's price move into the trade figure.
13Fs disclose LONG US-listed positions only — shorts, most derivatives, bonds and non-US listings are invisible here, and a filer's quarter-over-quarter change is not necessarily a trade (index rebalances, in-kind transfers and entity successions all read as flow).
| 2025-09-30 |
| SEC → |
Source: SEC Schedule 13D/13G structured XML. 13D = active intent; 13G filers report passively (Rule 13d-1(b) QII / 13d-1(c) Passive / 13d-1(d) Exempt) and are not activists. Percent and delta are the group aggregate the filing reports. Structured 13D/G coverage begins December 2024 (SEC XML mandate).
