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Pinduoduo
PDD

186 hedge funds and large institutions have $5.52B invested in Pinduoduo in 2019 Q3 according to their latest regulatory filings, with 48 funds opening new positions, 59 increasing their positions, 61 reducing their positions, and 36 closing their positions.

New
Increased
Maintained
Reduced
Closed

83% more capital invested

Capital invested by funds: $3.01B → $5.52B (+$2.51B)

33% more first-time investments, than exits

New positions opened: 48 | Existing positions closed: 36

6% more funds holding

Funds holding: 175 → 186 (+11)

6% more funds holding in top 10

Funds holding in top 10: 16 → 17 (+1)

0.99% more ownership

Funds ownership: 5.67% → 6.65% (+0.99%)

3% less repeat investments, than reductions

Existing positions increased: 59 | Existing positions reduced: 61

54% less call options, than puts

Call options by funds: $157M | Put options by funds: $340M

Holders
186
Holders Change
+11
Holders Change %
+6.29%
% of All Funds
4.08%
Holding in Top 10
17
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+6.25%
% of All Funds
0.37%
New
48
Increased
59
Reduced
61
Closed
36
Calls
$157M
Puts
$340M
Net Calls
-$183M
Net Calls Change
-$20.1M

Top Buyers

1
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
+$382M
2
Fidelity Investments
Fidelity Investments
Massachusetts
+$264M
3
SIM
SRS Investment Management
New York
+$150M
4
HA
HHLR Advisors
Cayman Islands
+$105M
5
Renaissance Technologies
Renaissance Technologies
New York
+$94.4M

Top Sellers

1
Morgan Stanley
Morgan Stanley
New York
-$110M
2
Goldman Sachs
Goldman Sachs
New York
-$45.4M
3
KCM
Keywise Capital Management
Cayman Islands
-$37.7M
4
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
-$30.4M
5
WAM
WT Asset Management
Hong Kong
-$27.1M
Name Holding Trade Value Shares
Change 		Change in
Stake
Goldman Sachs
26
Goldman Sachs
New York
$48.2M -$45.4M -1,698,968 -53%
Legal & General Group
27
Legal & General Group
United Kingdom
$38.6M +$704K +26,359 +2%
B
28
Barings
North Carolina
$31.9M -$5.8M -217,297 -18%
PCM
29
Penserra Capital Management
California
$30.4M -$2.4M -89,976 -9%
Citadel Advisors
30
Citadel Advisors
Florida
$28.7M +$9.39M +351,475 +65%
UBS Group
31
UBS Group
Switzerland
$28.7M -$7.04M -263,652 -23%
GIM
32
Growth Interface Management
Florida
$28.7M +$4.01M +150,000 +20%
WAM
33
WT Asset Management
Hong Kong
$28.6M -$27.1M -1,013,474 -53%
Lord, Abbett & Co
34
Lord, Abbett & Co
New Jersey
$25.7M +$21.3M +798,949 New
Wells Fargo
35
Wells Fargo
California
$24.6M +$3.68M +137,857 +22%
Deutsche Bank
36
Deutsche Bank
Germany
$24.6M -$159K -5,967 -0.8%
UBS AM
37
UBS AM
Illinois
$23.2M +$3.61M +135,199 +23%
BS
38
Banco Santander
Spain
$22.8M +$18.9M +706,809 New
Swiss National Bank
39
Swiss National Bank
Switzerland
$22.3M +$5.23M +195,854 +39%
Mitsubishi UFJ Trust & Banking
40
Mitsubishi UFJ Trust & Banking
Japan
$22.1M +$16.2M +607,550 +773%
CS
41
Credit Suisse
Switzerland
$21.2M -$880K -32,958 -5%
Jane Street
42
Jane Street
New York
$21.1M +$15.4M +577,749 +748%
QC
43
Quadrature Capital
United Kingdom
$21M +$17.4M +652,721 New
ECM
44
Element Capital Management
New York
$20.3M +$9.95M +372,598 +144%
Geode Capital Management
45
Geode Capital Management
Massachusetts
$20.3M +$1.28M +47,858 +8%
Northern Trust
46
Northern Trust
Illinois
$17.9M -$5.6M -209,470 -27%
Millennium Management
47
Millennium Management
New York
$16.8M +$12.5M +468,327 +908%
AQR Capital Management
48
AQR Capital Management
Connecticut
$15.7M +$12.2M +455,140 +1,473%
BNP Paribas Financial Markets
49
BNP Paribas Financial Markets
France
$15.6M -$13.5M -505,705 -51%
HHII
50
H&H International Investment
California
$15.4M +$267K +10,000 +2%
1
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PDD Hedge Fund Activity: Q3 2019 in Review

186 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in Pinduoduo (PDD) for Q3 2019, worth a combined $5.52B — up 83% from $3.01B a quarter earlier.

Buyers outnumbered sellers: 48 funds opened new PDD positions and 36 closed out — a net gain of 12 holders — while 59 added to existing stakes and 61 trimmed.

The largest buyer was Baillie Gifford & Co, adding an estimated $382M. The largest seller was Morgan Stanley, cutting an estimated $110M.

  • 186 institutional investors held Pinduoduo (PDD) as of Q3 2019, up from 175 in Q2 2019.
  • Funds reported $5.52B of Pinduoduo stock for Q3 2019, up 83% quarter-over-quarter.
  • 48 funds opened new Pinduoduo positions in Q3 2019 and 36 closed out, a net change of +12 holders.
  • The largest Pinduoduo buyer in Q3 2019 was Baillie Gifford & Co, an estimated $382M added.
  • The largest Pinduoduo seller in Q3 2019 was Morgan Stanley, an estimated $110M sold.

Based on aggregated 13F filings for Q3 2019.