景林最新13F：左侧增持拼多多

林氪02-07

这几天，又到了美股机构提交13F文件，披露最新持仓的时间。目前，我最关注的几位风向标，比如巴菲特、段永平的H&H、以及喜马拉雅资本持仓，都还没有公布最新情况。作为中国老牌顶级私募的景林资产，今天公布了2025年Q4的答卷。比较吸引我注意力的，无疑是其在Q4继续加仓拼多多。景林在Q4增持了61.13万股拼多多，将其推升至组合中的第三大重仓股。复盘一下25年Q4的市场环境，尤其是年底阶段，拼多多饱受...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2609528210?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-02-07 23:41","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2609528210","market":"us","top_or_hot":-1,"title":"景林最新13F：左侧增持拼多多","media":"林氪","content":"<div>\n<p>这几天，又到了美股机构提交13F文件，披露最新持仓的时间。目前，我最关注的几位风向标，比如巴菲特、段永平的H&H、以及喜马拉雅资本持仓，都还没有公布最新情况。作为中国老牌顶级私募的景林资产，今天公布了2025年Q4的答卷。比较吸引我注意力的，无疑是其在Q4继续加仓拼多多。景林在Q4增持了61.13万股拼多多，将其推升至组合中的第三大重仓股。复盘一下25年Q4的市场环境，尤其是年底阶段，拼多多饱受...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2026020723495095404467&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>景林最新13F：左侧增持拼多多</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n景林最新13F：左侧增持拼多多\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-07 23:41 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2026020723495095404467&s=b><strong>林氪</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>这几天，又到了美股机构提交13F文件，披露最新持仓的时间。目前，我最关注的几位风向标，比如巴菲特、段永平的H&H、以及喜马拉雅资本持仓，都还没有公布最新情况。作为中国老牌顶级私募的景林资产，今天公布了2025年Q4的答卷。比较吸引我注意力的，无疑是其在Q4继续加仓拼多多。景林在Q4增持了61.13万股拼多多，将其推升至组合中的第三大重仓股。复盘一下25年Q4的市场环境，尤其是年底阶段，拼多多饱受...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2026020723495095404467&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0650527681.SGD","symbol_name":"Fidelity China Consumer A-SGD","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2026020723495095404467&s=b","article_id":"2609528210","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2026020723495095404467&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2609528210","pubTimestamp":1770478901,"columns":[],"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"作为中国老牌顶级私募的景林资产，今天公布了2025年Q4的答卷。比较吸引我注意力的，无疑是其在Q4继续加仓拼多多。景林在Q4增持了61.13万股拼多多，将其推升至组合中的第三大重仓股。因为景林持有标的比较多，不展开具体说了，这里贴一下最新的持仓明细。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"LU0650527681.SGD":"Fidelity China Consumer A-SGD","LU0737861772.HKD":"FIDELITY EMERGING ASIA \"A \" (HKD) ACC","LU1303224171.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) INC","LU1961090484.USD":"ALLIANZ ALL CHINA EQUITY \"A\" (USD) INC","LU0823413587.USD":"BNP PARIBAS EMERGING EQUITY \"C\" (USD) ACC","LU2257852520.SGD":"JPMorgan Funds - Asia Growth A (acc) SGD","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","LU0589944569.HKD":"ALLIANZ EMERGING ASIA EQUITY \"AT\" (HKD) ACC","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU0871576103.HKD":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) ACC","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","BK4531":"中概回港概念","LU0821914370.USD":"贝莱德亚洲成长领袖A2","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","LU0502904849.HKD":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (HKD) ACC","LU0823413660.USD":"BNP PARIBAS EMERGING EQUITY \"C\" (USD) INC","LU0823397103.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\" (USD) ACC","LU0259732245.USD":"EASTSPRING INVESTMENTS DRAGON PEACOCK A","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU0823426308.USD":"法巴中国股票基金","BK4535":"淡马锡持仓","LU0823397285.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\" (USD) INC","LU0328353924.USD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERGING MARKETS OPPORTUNITY (USD) \"P\" (USD) ACC","LU1981816686.USD":"EASTSPRING INV ASIAN MULTI FACTOR EQUITY \"A\" (USD) ACC","LU0051755006.USD":"摩根大通中国A (dist)","LU0516422366.SGD":"Fullerton Lux Funds - Asia Focus Equities A Acc SGD","BK4548":"巴美列捷福持仓","LU0370786039.SGD":"Fidelity Greater China A-SGD","LU0683595622.HKD":"AB SICAV I-EM.MKTS MUL.ASS.PTF(AD)","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","LU0210526637.USD":"JPM CHINA \"A\" (USD) ACC","LU0572944931.SGD":"Janus Henderson Horizon China Opportunities A2 SGD","LU0594300179.USD":"FIDELITY CHINA CONSUMER \"A\" (USD) ACC","LU0516423091.SGD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (SGD) ACC","LU1868837565.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"1\" (USD) ACC","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","LU1720050803.USD":"安联全方位中国股票基金","LU0164865239.USD":"HSBC GIF CHINESE EQUITY \"AC\" (USD) ACC","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","PDD":"拼多多","BK4553":"喜马拉雅资本持仓","LU0143863784.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES\"DU\" (USD) ACC","BK4585":"ETF&股票定投概念","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU2399975544.HKD":"ALLIANZ ALL CHINA EQUITY \"AT\" (HKD) ACC","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU1323998911.USD":"BGF ASIAN MULTI-ASSET INCOME \"A\" (USD) ACC","LU0140636845.USD":"施罗德大中华区股票A Acc","BK4558":"双十一","LU0823426480.USD":"法巴中国股票经典Dis","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","LU0348827113.USD":"ALLIANZ RCM CHINA \"AT\" ACC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU0633140560.USD":"AB EMERGING MARKET MULTI ASSET PORTFOLIO \"A\" (USD) ACC","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","LU0143863198.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES\"AU\" (USD) ACC","LU2211817866.USD":"Allianz Food Security AT Acc USD","BK4588":"碎股","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU0456846285.SGD":"JPMorgan Funds - Greater China A (acc) SGD","LU1880383440.USD":"AMUNDI FUNDS CHINA EQUITY \"A2\" (USD) INC","LU0049112450.USD":"FIDELITY PACIFIC \"A\" INC","SG9999002463.SGD":"LionGlobal China Growth SGD","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU1808992512.USD":"AB ALL CHINA EQUITY PORTFOLIO \"A\" (USD) ACC","LU0633140727.USD":"AB EMERGING MARKETS MULTI ASSET PORTFOLIO \"AD\" (USD) INC","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","BK4509":"腾讯概念","LU0052750758.USD":"富兰克林中国基金A Acc","LU0531971595.HKD":"HSBC GIF CHINESE EQUITY \"AD\" (HKD) INC","SG9999014674.SGD":"Nikko AM All China Equity A SGD","SG9999002828.SGD":"Eastspring Investments Unit Trusts - Dragon Peacock A SGD","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","IE00BGV7N243.SGD":"FSSA Global Emerging Markets Focus I Acc SGD","BK4501":"段永平概念","LU0561508036.HKD":"ALLIANZ CHINA EQUITY \"A\" (HKD) INC","LU0516423174.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (USD) ACC","LU1046422090.SGD":"Fidelity Pacific A-SGD","BK4503":"景林资产持仓","LU0516422952.EUR":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (EUR) ACC","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU0048580855.USD":"富达大中华区A","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU2242644610.SGD":"Fidelity China Innovation A-ACC-SGD","BK4505":"高瓴资本持仓","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","LU0348788117.USD":"ALLIANZ EMERGING ASIA EQUITY \"A\" (USD) INC","IE00B29SXG58.USD":"FSSA CHINA FOCUS \"I\" (USD) ACC","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","BK4504":"桥水持仓","LU0329678170.USD":"FIDELITY EMERGING ASIA \"A\" (USD) INC","LU0878005551.USD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (USD) ACC","LU0359201612.USD":"贝莱德中国基金A2","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","LU0329678337.USD":"FIDELITY EMERGING ASIA \"A\" (USD)","LU0348805143.USD":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","LU0605514214.HKD":"FIDELITY CHINA CONSUMER \"A\" (HKD) ACC","LU2008162690.USD":"FIDELITY FUNDS - ASIA PACIFIC OPPORTUNITIES \"A\" (USD) ACC","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","LU0231483743.USD":"abrdn SICAV I - ALL CHINA SUSTAINABLE EQUITY \"A\" (USD) ACC","LU1719994722.HKD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (HKD) ACC","LU1171460220.USD":"FULLGOAL CHINA SMALL-MID CAP GROWTH \"A1\" (USD) INC","LU1235295612.USD":"FIDELITY PACIFIC \"A\" (USDHDG) INC","BK4220":"综合零售","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","LU2087589342.USD":"BGF ASIAN MULTI-ASSET INCOME \"A6\" (USD) INC","LU1770034418.SGD":"ALL CHINA EQUITY \"A\" (SGDHDG) ACC","LU2039709279.SGD":"MANULIFE GF DRAGON GROWTH \"AA\" (SGDHDG) INC","LU1769817096.USD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERG MARKETS OPPO \"P\" (USD) INC","LU0823038988.USD":"AMUNDI FUNDS ASIA EQUITY FOCUS  \"A2\" (USD) ACC","LU2177674079.SGD":"Fidelity Asia Pacific Opportunities A-ACC-SGD (hedged)","LU1769817179.HKD":"UBS (LUX) EQUITY SICAV - GLOBAL EMERG MARKETS OPPO \"P\" (HKD) INC","BK4526":"热门中概股","LU0359201885.HKD":"BGF CHINA \"A2\" (HKD) ACC","LU0823039010.USD":"AMUNDI FUNDS ASIA EQUITY FOCUS  \"A2\" (USD) INC","BK4122":"互联网与直销零售","LU0117841782.USD":"JPM GREATER CHINA \"A\" (USD) INC","LU0047713382.USD":"BGF EMERGING MARKETS \"A2\" ACC","LU1868838027.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"8\" (USD) ACC","LU0235996351.USD":"UBS (LUX) KEY SELECTION SICAV - ASIAN EQUITY (USD) \"P\" (USD) ACC","LU1048588211.SGD":"Blackrock Asian Dragon A2 SGD-H","LU1956131251.USD":"BNP PARIBAS SUSTAINABLE ASIA EX-JAPAN EQUITY \"C\"MD (USD) INC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU0455707207.USD":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (USD) INC","SG9999002562.SGD":"LionGlobal Asia Pacific SGD","LU1251922891.USD":"NINETY ONE GSF ALL CHINA EQUITY \"A\" (USD) ACC","LU0072462343.USD":"贝莱德亚洲巨龙基金","LU0594300419.USD":"富达中国消费基金A","LU1868837722.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"2\" (USD) ACC"},"translate_title":"Jinglin's latest 13F: the left side overweight Pinduoduo","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PDD":1.95},"content_text":"这几天，又到了美股机构提交13F文件，披露最新持仓的时间。目前，我最关注的几位风向标，比如巴菲特、段永平的H&H、以及喜马拉雅资本持仓，都还没有公布最新情况。作为中国老牌顶级私募的景林资产，今天公布了2025年Q4的答卷。比较吸引我注意力的，无疑是其在Q4继续加仓拼多多。景林在Q4增持了61.13万股拼多多，将其推升至组合中的第三大重仓股。复盘一下25年Q4的市场环境，尤其是年底阶段，拼多多饱受噪音干扰，股价整体承压，典型的左侧交易。除了拼多多，这份作业还有几个值得关注的变化：1、增持谷歌至第一大重仓股，不知道是否受巴菲特持仓的影响。2、减仓超6成的英伟达持仓、减仓近2成的Meta，获利了结。3、目前前五大持仓，分别是谷歌、Meta、拼多多、网易和满帮。因为景林持有标的比较多，不展开具体说了，这里贴一下最新的持仓明细。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2609528210","isCrawlerRequest":true}