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SCHEDULE Filed 2025-09-30 Event 2025-09-30 SEC 0000950103-25-012567 →

Tencent Holdings Ltd → KE Holdings Inc. BEKE

Stake: 8.70% Shares: 295,185,491 CUSIP: 482497104 Class: Class A Ordinary Shares, par value US$0.00002 per share
Composite Decision Signal · PASS (LOW BASE-RATE EDGE) Conviction Score: 29/100 · Filer 90d Win Rate: 0% · Hist. 90d Edge: -15.2%
  • Passive Schedule 13G filer baseline
  • High conviction ownership stake (8.7%)
  • 2 NPORT-P mutual funds holding CUSIP
  • Elevated short days-to-cover (6.9 DTC)
  • Short interest building (+47.9% vs prior settlement)

Item 4 — Purpose of Transaction

Item 4 of the Schedule D is hereby amended and supplemented by adding the following before the sub-title named "General" in this Item: On February 10, 2025, Parallel Stellar surrendered 2 Class A Ordinary Shares of the Issuer. On September 30, 2025, Sunshine Peak, TPP I SPV and TPP II SPV, entities controlled by Tencent Plus Partners ("TPP"), executed a distribution plan of Class A Ordinary Shares they held through on-market transactions in the amount of 13,323,284 ADSs representing 39,969,852 Class A Ordinary Shares of the Issuer, and distributing the proceeds to their limited partners. TPP is under Tencent and facilitates collaboration with external capital partners by investing with Tencent. Tencent's interest (excluding TPP) in BEKE remains unchanged.

Cross-References

Insider Activity (last 365d)
14 transactions
2 buys · 1 sales · 4 awards/exercises
Issuer Cluster
9 13D/G filings on this issuer
8 other filings besides this one
Filer Track Record
34 filings by this filer
33 other filings in the data moat
Short Interest · settle 2026-10-15
DTC 6.89
30,673,581 shares short · +47.9% vs prior

Post-Filing Returns · since 2025-09-30 on BEKE

+1 day
+1.6%
+5 days
-0.2%
+30 days
-9.5%
+60 days
-12.4%
+90 days
-15.2%
+180 days
-21.0%

Anchor price 18.65 on closest trading day on/after 2025-09-30. Source: Yahoo Finance daily adj_close (split + dividend adjusted).

Form 4 Insider Transactions · last 365d

DateInsiderRoleTypeSharesPriceValue
2026-09-21 Shan Yigang director, officer Sale 3,326,670 $5.44 $18.09M
2026-09-03 Zhu Hansong director F 803 $17.73 $14K
2026-09-03 Chen Xiaohong director F 1 $17.73 $18
2026-09-02 Zhu Hansong director Option exercise 3,750 — —
2026-09-02 Zhu Hansong director Option exercise 3,750 — —
2026-09-02 Zhu Hansong director Award 4,588 — —
2026-09-02 Chen Xiaohong director Option exercise 8,750 — —
2026-09-02 Chen Xiaohong director Option exercise 8,750 — —
2026-09-02 Chen Xiaohong director Award 10,704 — —
2026-08-14 Shan Yigang director, officer J 316,964 — —
2026-08-14 Peng Yongdong director, officer J 730,525 — —
2026-04-07 Xu Tao (XT) director, officer J 1 — —
2026-04-07 Shan Yigang director, officer J 425,840 — —
2026-04-07 Peng Yongdong director, officer J 981,459 — —

Other 13D/G Filings on KE Holdings Inc.

FiledFormFilerStakeShares
2026-09-29 SCHEDULE 13D/A Ever Orient International Ltd — 156,906,542 view →
2026-08-18 SCHEDULE 13D/A Baihui Partners L.P. — 849,601,280 view →
2026-08-18 SCHEDULE 13D/A Grain Bud Holding Ltd — 849,601,280 view →
2022-05-18 SC Baihui Partners L.P. — — view →
2022-05-18 SC Grain Bud Holding Ltd — — view →
2021-12-30 SC Grain Bud Holding Ltd — — view →
2021-11-08 SC Grain Bud Holding Ltd — — view →
2021-11-08 SC Baihui Partners L.P. — — view →

Other Filings by Tencent Holdings Ltd

FiledFormIssuerStakeShares
2026-08-24 SCHEDULE 13D/A Amer Sports, Inc. 2.70% 15,794,146 view →
2024-11-12 SC Zhihu Inc. ZHIHF — — view →
2024-05-16 SC NIO Inc. NIOIF — — view →
2023-05-02 SC HUYA Inc. HUYA — — view →
2023-05-02 SC Lilium N.V. LILMF — — view →
2022-03-30 SC JD.com, Inc. JDCMF — — view →
2022-02-14 SC Sea Ltd SE — — view →
2022-01-10 SC JD.com, Inc. JDCMF — — view →
2022-01-04 SC Sea Ltd SE — — view →
2022-01-03 SC Sea Ltd SE — — view →
2021-09-27 SC SOGOU INC. — — view →
2021-07-21 SC SOGOU INC. — — view →
2021-07-14 SC HUYA Inc. HUYA — — view →
2021-07-14 SC DouYu International Holdings Ltd DOYU — — view →
2021-04-20 SC Sea Ltd SE — — view →
2021-03-24 SC Pinduoduo Inc. PDD — — view →
2021-03-04 SC NIO Inc. NIOIF — — view →
2021-02-10 SC GLU MOBILE INC — — view →
2020-12-03 SC SOGOU INC. — — view →
2020-11-25 SC Pinduoduo Inc. PDD — — view →
Showing 20 of 33

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