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Pinduoduo
PDD

558 hedge funds and large institutions have $53.9B invested in Pinduoduo in 2025 Q3 according to their latest regulatory filings, with 92 funds opening new positions, 221 increasing their positions, 176 reducing their positions, and 66 closing their positions.

New
Increased
Maintained
Reduced
Closed

39% more first-time investments, than exits

New positions opened: 92 | Existing positions closed: 66

26% more capital invested

Capital invested by funds: $42.9B → $53.9B (+$11B)

26% more repeat investments, than reductions

Existing positions increased: 221 | Existing positions reduced: 176

4% more funds holding

Funds holding: 536 → 558 (+22)

10% more call options, than puts

Call options by funds: $10.3B | Put options by funds: $9.38B

0% more funds holding in top 10

Funds holding in top 10: 65 → 65 (0)

0.1% less ownership

Funds ownership: 28.87% → 28.77% (-0.1%)

Holders
558
Holders Change
+22
Holders Change %
+4.1%
% of All Funds
7.32%
Holding in Top 10
65
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.85%
New
92
Increased
221
Reduced
176
Closed
66
Calls
$10.3B
Puts
$9.38B
Net Calls
+$907M
Net Calls Change
+$1.55B

Top Buyers

1
HSBC Holdings
HSBC Holdings
United Kingdom
+$483M
2
Fidelity International
Fidelity International
Bermuda
+$433M
3
AMH
Aspex Management (HK)
Hong Kong
+$376M
4
Jane Street
Jane Street
New York
+$347M
5
Temasek Holdings
Temasek Holdings
Singapore
+$343M

Top Sellers

1
UBS AM
UBS AM
Illinois
-$967M
2
Assenagon Asset Management
Assenagon Asset Management
Luxembourg
-$679M
3
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
-$305M
4
HH
HSG Holding
Hong Kong
-$266M
5
SUT
SC US (TTGP)
California
-$207M
Name Holding Trade Value Shares
Change 		Change in
Stake
FFWM
501
Future Financial Wealth Management
Ohio
$33K – – –
WANY
502
Wealthspire Advisors (New York)
New York
$28.9K +$25.9K +219 New
PS
503
Principal Securities
Iowa
$27.5K +$16.5K +139 +201%
AUB
504
Atlantic Union Bankshares
Virginia
$26.4K – – –
UB
505
UMB Bank
Missouri
$22.5K -$3.31K -28 -14%
SAM
506
Smartleaf Asset Management
Massachusetts
$14.9K +$12.5K +106 +1,325%
CFD
507
Creative Financial Designs
Indiana
$14.8K – – –
PTC
508
Private Trust Company
Ohio
$14.5K +$3.2K +27 +33%
JWA
509
JFS Wealth Advisors
Pennsylvania
$14.4K – – –
Bessemer Group
510
Bessemer Group
New Jersey
$14K – – –
MG
511
Mather Group
Illinois
$13.6K +$12.2K +103 New
CLOS
512
Compagnie Lombard Odier SCmA
Switzerland
$13.2K – – –
RAM
513
Ramirez Asset Management
New York
$11.9K – – –
MCM
514
MAI Capital Management
Ohio
$11.2K -$109K -925 -92%
KFI
515
Key Financial Inc
Pennsylvania
$11K – – –
CAL
516
Capital Analysts LLC
Pennsylvania
$11K – – –
FP
517
Financial Perspectives
Minnesota
$10.7K – – –
MMCM
518
Murphy & Mullick Capital Management
New York
$9.78K – – –
W
519
WealthCollab
Washington
$9.65K – – –
BIA
520
Bell Investment Advisors
California
$8.86K -$2.72K -23 -26%
IA
521
IFP Advisors
Florida
$7.4K -$32.2K -272 -83%
PWA
522
Physician Wealth Advisors
Utah
$7.4K +$473 +4 +8%
HWP
523
Highline Wealth Partners
California
$6.74K +$2.37K +20 +65%
CA
524
Crewe Advisors
Utah
$6.08K +$5.45K +46 New
GI
525
GAMMA Investing
California
$5.29K – – –
19 20
21
22 23

PDD Hedge Fund Activity: Q3 2025 in Review

558 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Pinduoduo (PDD) for Q3 2025, worth a combined $53.9B — up 26% from $42.9B a quarter earlier.

Buyers outnumbered sellers: 92 funds opened new PDD positions and 66 closed out — a net gain of 26 holders — while 221 added to existing stakes and 176 trimmed.

The largest buyer was HSBC Holdings, adding an estimated $483M. The largest seller was UBS AM, exiting entirely with an estimated $967M sold.

  • 558 institutional investors held Pinduoduo (PDD) as of Q3 2025, up from 536 in Q2 2025.
  • Funds reported $53.9B of Pinduoduo stock for Q3 2025, up 26% quarter-over-quarter.
  • 92 funds opened new Pinduoduo positions in Q3 2025 and 66 closed out, a net change of +26 holders.
  • The largest Pinduoduo buyer in Q3 2025 was HSBC Holdings, an estimated $483M added.
  • The largest Pinduoduo seller in Q3 2025 was UBS AM, an estimated $967M sold.

Based on aggregated 13F filings for Q3 2025.