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Pinduoduo
PDD

106 hedge funds and large institutions have $1.64B invested in Pinduoduo in 2018 Q4 according to their latest regulatory filings, with 50 funds opening new positions, 27 increasing their positions, 22 reducing their positions, and 26 closing their positions.

New
Increased
Maintained
Reduced
Closed

92% more first-time investments, than exits

New positions opened: 50 | Existing positions closed: 26

89% more funds holding in top 10

Funds holding in top 10: 9 → 17 (+8)

29% more funds holding

Funds holding: 82 → 106 (+24)

23% more repeat investments, than reductions

Existing positions increased: 27 | Existing positions reduced: 22

1.71% more ownership

Funds ownership: 1.51% → 3.23% (+1.7%)

7% less capital invested

Capital invested by funds: $1.76B → $1.64B (-$122M)

41% less call options, than puts

Call options by funds: $23M | Put options by funds: $39.1M

Holders
106
Holders Change
+24
Holders Change %
+29.27%
% of All Funds
2.36%
Holding in Top 10
17
Holding in Top 10 Change
+8
Holding in Top 10 Change %
+88.89%
% of All Funds
0.38%
New
50
Increased
27
Reduced
22
Closed
26
Calls
$23M
Puts
$39.1M
Net Calls
-$16.1M
Net Calls Change
+$11.2M

Top Buyers

1
HSBC Holdings
HSBC Holdings
United Kingdom
+$120M
2
GAM
Greenwoods Asset Management
Cayman Islands
+$73.1M
3
Citigroup
Citigroup
New York
+$63.9M
4
KFA
Krane Funds Advisors
New York
+$60.4M
5
O
OppenheimerFunds
New York
+$49.9M

Top Sellers

1
Capital World Investors
Capital World Investors
California
-$158M
2
YRHAM
Yong Rong (HK) Asset Management
Hong Kong
-$38.9M
3
Viking Global Investors
Viking Global Investors
Connecticut
-$37.1M
4
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
-$32.7M
5
Coatue Management
Coatue Management
New York
-$28.9M
Name Holding Trade Value Shares
Change 		Change in
Stake
DCM
51
Driehaus Capital Management
Illinois
$2.93M +$2.75M +130,450 New
State Street
52
State Street
Massachusetts
$2.84M +$559K +26,512 +26%
CGT
53
Capital Guardian Trust
California
$2.62M -$18.1M -860,209 -88%
TCIM
54
TIAA CREF Investment Management
New York
$2.58M -$4.01M -190,000 -62%
Invesco
55
Invesco
Georgia
$2.5M +$2.34M +111,230 New
TEE
56
Tibra Equities Europe
United Kingdom
$2.24M +$2.11M +100,000 New
Charles Schwab
57
Charles Schwab
California
$2.19M +$115K +5,472 +6%
Millennium Management
58
Millennium Management
New York
$2.01M +$1.55M +73,453 +459%
BlackRock
59
BlackRock
New York
$2M +$90.4K +4,287 +5%
Walleye Trading
60
Walleye Trading
New York
$1.91M +$1.79M +85,008 New
Bank of Montreal
61
Bank of Montreal
Ontario, Canada
$1.71M +$451K +21,400 +39%
SC
62
Sculptor Capital
New York
$1.69M +$453K +21,500 +40%
Parallax Volatility Advisers
63
Parallax Volatility Advisers
California
$1.63M -$1.08M -51,374 -41%
Citadel Advisors
64
Citadel Advisors
Florida
$1.42M -$10.7M -509,821 -89%
Deutsche Bank
65
Deutsche Bank
Germany
$1.36M +$1.28M +60,510 +35,594%
Geode Capital Management
66
Geode Capital Management
Massachusetts
$1.3M – – –
QT
67
Quantbot Technologies
New York
$1.07M +$1M +47,571 New
CIS
68
Capital International Sarl
California
$912K -$1.65M -78,400 -66%
SEI Investments
69
SEI Investments
Pennsylvania
$872K – – –
Northern Trust
70
Northern Trust
Illinois
$744K +$150K +7,133 +27%
Morgan Stanley
71
Morgan Stanley
New York
$662K +$439K +20,838 +241%
Mackenzie Financial
72
Mackenzie Financial
Ontario, Canada
$610K +$573K +27,180 New
MIFH
73
Migdal Insurance & Financial Holdings
Israel
$582K +$547K +25,947 New
PCM
74
Prelude Capital Management
New York
$570K +$535K +25,400 New
TRAM
75
Tuscan Ridge Asset Management
Illinois
$496K +$466K +22,115 New
1 2
3
4 5

PDD Hedge Fund Activity: Q4 2018 in Review

106 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in Pinduoduo (PDD) for Q4 2018, worth a combined $1.64B — down 6.9% from $1.76B a quarter earlier.

Buyers outnumbered sellers: 50 funds opened new PDD positions and 26 closed out — a net gain of 24 holders — while 27 added to existing stakes and 22 trimmed.

The largest buyer was HSBC Holdings, adding an estimated $120M. The largest seller was Capital World Investors, cutting an estimated $158M.

  • 106 institutional investors held Pinduoduo (PDD) as of Q4 2018, up from 82 in Q3 2018.
  • Funds reported $1.64B of Pinduoduo stock for Q4 2018, down 6.9% quarter-over-quarter.
  • 50 funds opened new Pinduoduo positions in Q4 2018 and 26 closed out, a net change of +24 holders.
  • The largest Pinduoduo buyer in Q4 2018 was HSBC Holdings, an estimated $120M added.
  • The largest Pinduoduo seller in Q4 2018 was Capital World Investors, an estimated $158M sold.

Based on aggregated 13F filings for Q4 2018.