Tencent Holdings filed Amendment No. 2 to a Schedule 13G reporting beneficial ownership of 5,905,597 Reddit shares, representing 4.17% of the Class A common stock.
The reported holdings comprise 3,317,185 Class B shares held by Tencent Cloud Europe B.V.; 2,100,000 Class A shares held by Huang River Investment Limited; and 50,425 Class A plus 437,987 Class B shares held by Jojoba Investment Limited. Each Class B share carries ten votes and is convertible into Class A at the holder’s option.
A voting agreement grants Steve Huffman, Reddit’s CEO, the authority and irrevocable proxy to vote shares then owned by Tencent affiliates, subject to stated restrictions. Related reporting entities Aceville Pte. Ltd., TCH Delta Limited, and Tencent Cloud Europe B.V. each report 3,317,185 shares (2.35%).
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)
Reddit, Inc.
(Name of Issuer)
Class A Common Stock, par value $0.0001 per share
(Title of Class of Securities)
75734B100
(CUSIP Number)
09/30/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
75734B100
1
Names of Reporting Persons
Tencent Holdings Ltd
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
5,905,597.00
7
Sole Dispositive Power
5,905,597.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,905,597.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.17 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: The shares held by Tencent Holdings Limited represent (i) 3,317,185 shares of Class B Common Stock held of record by Tencent Cloud Europe B.V., a wholly-owned subsidiary of Aceville Pte. Ltd., which is a wholly-owned subsidiary of TCH Delta Limited, which is a wholly-owned subsidiary of Tencent Holdings Limited, (ii) 2,100,000 shares of Class A Common Stock held of record by Huang River Investment Limited, a wholly-owned subsidiary of Tencent Holdings Limited, and (iii) 50,425 shares of Class A Common Stock and 437,987 shares of Class B Common Stock held of record by Jojoba Investment Limited, a wholly-owned subsidiary of Tencent Holdings Limited. Tencent Holdings Limited, TCH Delta Limited and Aceville Pte. Ltd. may each be deemed to beneficially own the shares held of record by Tencent Cloud Europe B.V. Each share of Class B Common Stock is entitled to ten votes and is convertible into Class A Common Stock at the option of the holder. Pursuant to a certain voting agreement entered into between the Tencent affiliates and Mr. Steve Huffman, the CEO of the Issuer, Mr. Huffman has the authority (and irrevocable proxy) to vote shares then owned by affiliates of Tencent Holdings Limited, in his sole discretion, subjection to certain restrictions therein. Also see Item 4.
SCHEDULE 13G
CUSIP No.
75734B100
1
Names of Reporting Persons
Aceville Pte. Ltd.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
SINGAPORE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,317,185.00
7
Sole Dispositive Power
3,317,185.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,317,185.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.35 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: Reference is made to the comment for type of reporting person of Tencent Holdings Limited.
SCHEDULE 13G
CUSIP No.
75734B100
1
Names of Reporting Persons
TCH Delta Limited
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
VIRGIN ISLANDS, BRITISH
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,317,185.00
7
Sole Dispositive Power
3,317,185.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,317,185.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.35 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: Reference is made to the comment for type of reporting person of Tencent Holdings Limited.
SCHEDULE 13G
CUSIP No.
75734B100
1
Names of Reporting Persons
Tencent Cloud Europe B.V.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
NETHERLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,317,185.00
7
Sole Dispositive Power
3,317,185.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,317,185.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.35 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: Reference is made to the comment for type of reporting person of Tencent Holdings Limited.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Reddit, Inc.
(b)
Address of issuer's principal executive offices:
303 2nd Street, South Tower, 5th Floor, San Francisco, California, 94107
Address or principal business office or, if none, residence:
For each of Tencent Holdings Limited, Aceville Pte. Ltd., TCH Delta Limited and Tencent Cloud Europe B.V.:
29/F.,Three Pacific Place
No. 1, Queen's Road East
Wanchai, Hong Kong
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by Items 4(a) is set forth in Row 9 of the cover page for each Reporting Person and is incorporated herein by reference.
(b)
Percent of class:
The total number of outstanding shares of Class A Common Stock used to calculate the percent of class represented by the Class A Common Stock beneficially owned by Tencent Holdings Limited, 4.17%, is the sum of (i) 137,824,835 shares of Class A Common Stock of the Issuer as disclosed in the Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on October 31, 2025 (the "Securities Filing"), and (ii) 3,317,185 shares of Class B Common Stock held of record by Tencent Cloud Europe B.V., a wholly-owned subsidiary of Aceville Pte Ltd, which is a wholly-owned subsidiary of TCH Delta Limited, which is a wholly-owned subsidiary of Tencent Holdings Limited, and 437,987 shares of Class B Common Stock held of record by Jojoba Investment Limited, a wholly-owned subsidiary of Tencent Holdings Limited, each of which can be converted into an equal number of Class A Common Stock at the option of the holder. Tencent Holdings Limited, TCH Delta Limited and Aceville Pte. Ltd. may each be deemed to beneficially own the shares held of record by Tencent Cloud Europe B.V.
The total number of outstanding shares of Class A Common Stock used to calculate the percent of class represented by the Class A Common Stock beneficially owned by each of Aceville Pte. Ltd, TCH Delta Limited and Tencent Cloud Europe B.V., 2.35%, is the sum of (i) 137,824,835 shares of Class A Common Stock of the Issuer as disclosed in the Securities Filing, and (ii) 3,317,185 shares of Class B Common Stock held of record by Tencent Cloud Europe B.V., which can be converted into an equal number of Class A Common Stock at the option of the holder.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See Row 5 of the cover page of each Reporting Person.
(ii) Shared power to vote or to direct the vote:
See Row 6 of the cover page of each Reporting Person.
(iii) Sole power to dispose or to direct the disposition of:
See Row 7 of the cover page of each Reporting Person.
(iv) Shared power to dispose or to direct the disposition of:
See Row 8 of the cover page of each Reporting Person.
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See Item 4.
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What stake in Reddit (RDDT) did Tencent report in its Schedule 13G/A?
Tencent reported beneficial ownership of 5,905,597 shares, representing 4.17% of Reddit’s Class A common stock.
How are Tencent’s Reddit shares allocated across its affiliates?
Holdings include 3,317,185 Class B (Tencent Cloud Europe B.V.), 2,100,000 Class A (Huang River Investment Limited), and 50,425 Class A plus 437,987 Class B (Jojoba Investment Limited).
What voting rights do Reddit’s Class B shares carry?
Each Class B share has ten votes and is convertible into Class A at the option of the holder.
Does anyone else have authority to vote Tencent’s Reddit shares?
Yes. A voting agreement gives Steve Huffman an irrevocable proxy to vote shares then owned by Tencent affiliates, subject to restrictions.
What percentages did Aceville, TCH Delta, and Tencent Cloud Europe report?
Each reported 3,317,185 shares, or 2.35% of the Class A common stock.
What is the CUSIP and class referenced in the filing for Reddit (RDDT)?
CUSIP 75734B100; the class is Class A Common Stock, par value $0.0001 per share.
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