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Pinduoduo
PDD

582 hedge funds and large institutions have $49.1B invested in Pinduoduo in 2025 Q1 according to their latest regulatory filings, with 97 funds opening new positions, 227 increasing their positions, 185 reducing their positions, and 95 closing their positions.

New
Increased
Maintained
Reduced
Closed

28% more call options, than puts

Call options by funds: $7.04B | Put options by funds: $5.52B

24% more capital invested

Capital invested by funds: $39.5B → $49.1B (+$9.61B)

23% more repeat investments, than reductions

Existing positions increased: 227 | Existing positions reduced: 185

2% more first-time investments, than exits

New positions opened: 97 | Existing positions closed: 95

1% more ownership

Funds ownership: 7.21% → 8.21% (+1%)

1% less funds holding

Funds holding: 586 → 582 (-4)

5% less funds holding in top 10

Funds holding in top 10: 73 → 69 (-4)

Holders
582
Holders Change
-4
Holders Change %
-0.68%
% of All Funds
7.8%
Holding in Top 10
69
Holding in Top 10 Change
-4
Holding in Top 10 Change %
-5.48%
% of All Funds
0.93%
New
97
Increased
227
Reduced
185
Closed
95
Calls
$7.04B
Puts
$5.52B
Net Calls
+$1.53B
Net Calls Change
+$145M

Top Buyers

Rank Fund Capital Flow
1
Mirae Asset Global Investments
Mirae Asset Global Investments
South Korea
+$4.51B
2
UBS AM
UBS AM
Illinois
+$928M
3
HA
HHLR Advisors
Cayman Islands
+$440M
4
OAG
Orbis Allan Gray
Bermuda
+$264M
5
KFA
Krane Funds Advisors
New York
+$254M

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$284M
2
UBS Group
UBS Group
Switzerland
-$224M
3
N
Nuveen
North Carolina
-$166M
4
JP Morgan Chase
JP Morgan Chase
New York
-$137M
5
WRCM
Whale Rock Capital Management
Massachusetts
-$134M
Name Holding Trade Value Shares
Change 		Change in
Stake
BHWM
576
Beaird Harris Wealth Management
Texas
$592 – – –
CFD
577
Creative Financial Designs
Indiana
$592 – – –
ADL
578
Asset Dedication LLC
California
$592 +$574 +5 New
ACM
579
Anfield Capital Management
California
$473 – – –
LCM
580
Logan Capital Management
Pennsylvania
$355 – – –
TPCW
581
TD Private Client Wealth
New York
$355 +$344 +3 New
HNW
582
High Note Wealth
Minnesota
$237 – – –
TC
583
Tairen Capital
Hong Kong
– -$69.1M -712,134 Closed
BAM
584
Brilliance Asset Management
Hong Kong
– -$62.7M -646,212 Closed
Janus Henderson Group
585
Janus Henderson Group
United Kingdom
– -$44.2M -455,266 Closed
SAM
586
Storebrand Asset Management
Norway
– -$39.6M -408,180 Closed
D.E. Shaw & Co
587
D.E. Shaw & Co
New York
– -$46.3M -403,654 Closed
AIM
588
Alpine Investment Management
Hong Kong
– -$45.9M -400,000 Closed
Swedbank
589
Swedbank
Sweden
– -$34.8M -358,715 Closed
OCM
590
Oaktree Capital Management
California
– -$26.9M -277,767 Closed
Nordea Investment Management
591
Nordea Investment Management
Sweden
– -$24.7M -252,195 Closed
IFLIT
592
Investmentaktiengesellschaft Fuer Langfristige Investoren TGV
Germany
– -$21.7M -230,000 Closed
SAM
593
Synergy Asset Management
Washington
– -$23.2M -205,740 Closed
GIM
594
Genesis Investment Management
United Kingdom
– -$17.9M -184,792 Closed
Coatue Management
595
Coatue Management
New York
– -$17.9M -184,628 Closed
PEAK6
596
PEAK6
Illinois
– -$19.9M -173,251 Closed
TI
597
Trexquant Investment
Connecticut
– -$15.5M -160,033 Closed
LSC
598
Leading Securities Company
Hong Kong
– -$13.5M -139,370 Closed
KC
599
Kadensa Capital
Hong Kong
– -$11.7M -120,397 Closed
PAM
600
Pamalican Asset Management
Hong Kong
– -$11.4M -118,000 Closed
22 23
24
25 26

PDD Hedge Fund Activity: Q1 2025 in Review

582 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in Pinduoduo (PDD) for Q1 2025, worth a combined $49.1B — up 24% from $39.5B a quarter earlier.

Buyers outnumbered sellers: 97 funds opened new PDD positions and 95 closed out — a net gain of 2 holders — while 227 added to existing stakes and 185 trimmed.

The largest buyer was Mirae Asset Global Investments, adding an estimated $4.51B. The largest seller was Morgan Stanley, cutting an estimated $284M.

  • 582 institutional investors held Pinduoduo (PDD) as of Q1 2025, down from 586 in Q4 2024.
  • Funds reported $49.1B of Pinduoduo stock for Q1 2025, up 24% quarter-over-quarter.
  • 97 funds opened new Pinduoduo positions in Q1 2025 and 95 closed out, a net change of +2 holders.
  • The largest Pinduoduo buyer in Q1 2025 was Mirae Asset Global Investments, an estimated $4.51B added.
  • The largest Pinduoduo seller in Q1 2025 was Morgan Stanley, an estimated $284M sold.

Based on aggregated 13F filings for Q1 2025.