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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
Comerica Bank
126
Comerica Bank
Texas
$781K +$954K +35,575 New
QT
127
Quantbot Technologies
New York
$756K -$458K -17,059 -36%
IG
128
ING Group
Netherlands
$744K +$805K +30,000 New
Point72 Asset Management
129
Point72 Asset Management
Connecticut
$722K +$346K +12,907 +80%
GIBU
130
Gulf International Bank (UK)
United Kingdom
$719K +$778K +29,000 New
Public Sector Pension Investment Board (PSP Investments)
131
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
$715K +$774K +28,834 New
KCM
132
Keywise Capital Management
Cayman Islands
$697K +$754K +28,100 New
LJAC
133
L.J. Altfest & Co
New York
$656K +$552K +20,568 New
Mitsubishi UFJ Asset Management
134
Mitsubishi UFJ Asset Management
Japan
$655K +$708K +26,400 New
VOYA Investment Management
135
VOYA Investment Management
Georgia
$639K +$691K +25,772 New
Parallax Volatility Advisers
136
Parallax Volatility Advisers
California
$634K -$1.26M -46,925 -65%
OSIA
137
O'Shares Investment Advisers
Massachusetts
$629K +$681K +25,374 New
ICP
138
Indus Capital Partners
New York
$593K +$641K +23,900 New
LFDLE
139
La Financiere de L'Echiquier
France
$587K +$635K +23,674 New
SSA
140
Schonfeld Strategic Advisors
New York
$539K +$326K +12,133 +126%
RJA
141
Raymond James & Associates
Florida
$537K +$146K +5,457 +34%
Teacher Retirement System of Texas
142
Teacher Retirement System of Texas
Texas
$534K +$578K +21,538 New
MC
143
Martin Currie
United Kingdom
$511K +$231K +8,621 +72%
VF
144
Virtu Financial
New York
$496K +$537K +20,007 New
AI
145
Atom Investors
Texas
$495K +$535K +19,941 New
Ohio Public Employees Retirement System (OPERS)
146
Ohio Public Employees Retirement System (OPERS)
Ohio
$476K +$515K +19,200 New
Man Group
147
Man Group
United Kingdom
$453K +$490K +18,252 New
DTL
148
Dynamic Technology Lab
Singapore
$433K +$38.3K +1,427 +9%
Macquarie Group
149
Macquarie Group
Australia
$404K +$437K +16,300 New
EMG
150
Ellington Management Group
Connecticut
$402K -$83.2K -3,100 -16%
4 5
6
7 8

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.