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Pinduoduo
PDD

189 hedge funds and large institutions have $2.9B invested in Pinduoduo in 2019 Q1 according to their latest regulatory filings, with 106 funds opening new positions, 49 increasing their positions, 26 reducing their positions, and 23 closing their positions.

New
Increased
Maintained
Reduced
Closed

361% more first-time investments, than exits

New positions opened: 106 | Existing positions closed: 23

88% more repeat investments, than reductions

Existing positions increased: 49 | Existing positions reduced: 26

78% more funds holding

Funds holding: 106 → 189 (+83)

77% more capital invested

Capital invested by funds: $1.64B → $2.9B (+$1.26B)

18% more funds holding in top 10

Funds holding in top 10: 17 → 20 (+3)

1.38% more ownership

Funds ownership: 3.23% → 4.61% (+1.4%)

51% less call options, than puts

Call options by funds: $58.9M | Put options by funds: $120M

Holders
189
Holders Change
+83
Holders Change %
+78.3%
% of All Funds
4.09%
Holding in Top 10
20
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+17.65%
% of All Funds
0.43%
New
106
Increased
49
Reduced
26
Closed
23
Calls
$58.9M
Puts
$120M
Net Calls
-$60.6M
Net Calls Change
-$44.6M

Top Buyers

1
BlackRock
BlackRock
New York
+$239M
2
Fidelity Investments
Fidelity Investments
Massachusetts
+$118M
3
TC
Tairen Capital
Hong Kong
+$102M
4
State Street
State Street
Massachusetts
+$86.4M
5
MWA
Marshall Wace Asia
Hong Kong
+$76.9M

Top Sellers

1
O
OppenheimerFunds
New York
-$291M
2
HSBC Holdings
HSBC Holdings
United Kingdom
-$106M
3
Citigroup
Citigroup
New York
-$73.4M
4
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
-$34.2M
5
SCM
Segantii Capital Management
Hong Kong
-$22.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
BCM
76
Bluefin Capital Management
New York
$4.94M +$5.34M +199,162 New
Arrowstreet Capital
77
Arrowstreet Capital
Massachusetts
$4.63M +$5M +186,500 New
PCM
78
Penserra Capital Management
California
$4.61M -$977K -36,407 -16%
Group One Trading
79
Group One Trading
Illinois
$4.57M +$4.94M +184,136 New
First Trust Advisors
80
First Trust Advisors
Illinois
$4.54M -$896K -33,382 -15%
Millennium Management
81
Millennium Management
New York
$4.42M +$2.38M +88,547 +99%
Bank of Montreal
82
Bank of Montreal
Ontario, Canada
$3.58M +$1.82M +67,745 +89%
New York State Common Retirement Fund
83
New York State Common Retirement Fund
New York
$3.5M +$3.79M +141,200 New
KA
84
Kerrisdale Advisers
Florida
$3.47M +$3.76M +140,000 New
BCP
85
Berylson Capital Partners
Massachusetts
$3.35M +$3.62M +135,000 New
GCP
86
GSA Capital Partners
United Kingdom
$3.33M +$3.6M +134,281 New
Charles Schwab
87
Charles Schwab
California
$3.3M +$947K +35,282 +36%
Tudor Investment Corp
88
Tudor Investment Corp
Connecticut
$3.2M +$3.46M +128,945 New
Simplex Trading
89
Simplex Trading
Illinois
$3.17M +$2.97M +110,822 +644%
CII
90
Capital International Inc
California
$3.13M -$1.74M -65,000 -34%
State of New Jersey Common Pension Fund D
91
State of New Jersey Common Pension Fund D
New Jersey
$3.13M +$3.39M +126,286 New
CGT
92
Capital Guardian Trust
California
$2.9M – – –
SG Americas Securities
93
SG Americas Securities
New York
$2.89M +$3.13M +116,542 New
PI
94
PEAK6 Investments
Illinois
$2.75M +$2.97M +110,788 New
Invesco
95
Invesco
Georgia
$2.68M -$87.8K -3,271 -3%
Canada Life
96
Canada Life
Manitoba, Canada
$2.57M +$2.79M +103,941 New
APG Asset Management
97
APG Asset Management
Netherlands
$2.54M +$3.09M +115,100 New
CI Investments Inc
98
CI Investments Inc
Ontario, Canada
$2.48M +$2.68M +100,000 New
Wolverine Trading
99
Wolverine Trading
Illinois
$2.2M +$2.38M +88,716 New
BCIM
100
British Columbia Investment Management
British Columbia, Canada
$2.19M +$2.37M +88,400 New
2 3
4
5 6

PDD Hedge Fund Activity: Q1 2019 in Review

189 of the 4,620 institutional investors tracked by Wall St. Rank reported a position in Pinduoduo (PDD) for Q1 2019, worth a combined $2.9B — up 77% from $1.64B a quarter earlier.

Buyers outnumbered sellers: 106 funds opened new PDD positions and 23 closed out — a net gain of 83 holders — while 49 added to existing stakes and 26 trimmed.

The largest buyer was BlackRock, adding an estimated $239M. The largest seller was OppenheimerFunds, cutting an estimated $291M.

  • 189 institutional investors held Pinduoduo (PDD) as of Q1 2019, up from 106 in Q4 2018.
  • Funds reported $2.9B of Pinduoduo stock for Q1 2019, up 77% quarter-over-quarter.
  • 106 funds opened new Pinduoduo positions in Q1 2019 and 23 closed out, a net change of +83 holders.
  • The largest Pinduoduo buyer in Q1 2019 was BlackRock, an estimated $239M added.
  • The largest Pinduoduo seller in Q1 2019 was OppenheimerFunds, an estimated $291M sold.

Based on aggregated 13F filings for Q1 2019.