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Pinduoduo
PDD

186 hedge funds and large institutions have $5.52B invested in Pinduoduo in 2019 Q3 according to their latest regulatory filings, with 48 funds opening new positions, 59 increasing their positions, 61 reducing their positions, and 36 closing their positions.

New
Increased
Maintained
Reduced
Closed

83% more capital invested

Capital invested by funds: $3.01B → $5.52B (+$2.51B)

33% more first-time investments, than exits

New positions opened: 48 | Existing positions closed: 36

6% more funds holding

Funds holding: 175 → 186 (+11)

6% more funds holding in top 10

Funds holding in top 10: 16 → 17 (+1)

0.99% more ownership

Funds ownership: 5.67% → 6.65% (+0.99%)

3% less repeat investments, than reductions

Existing positions increased: 59 | Existing positions reduced: 61

54% less call options, than puts

Call options by funds: $157M | Put options by funds: $340M

Holders
186
Holders Change
+11
Holders Change %
+6.29%
% of All Funds
4.08%
Holding in Top 10
17
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+6.25%
% of All Funds
0.37%
New
48
Increased
59
Reduced
61
Closed
36
Calls
$157M
Puts
$340M
Net Calls
-$183M
Net Calls Change
-$20.1M

Top Buyers

1
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
+$382M
2
Fidelity Investments
Fidelity Investments
Massachusetts
+$264M
3
SIM
SRS Investment Management
New York
+$150M
4
HA
HHLR Advisors
Cayman Islands
+$105M
5
Renaissance Technologies
Renaissance Technologies
New York
+$94.4M

Top Sellers

1
Morgan Stanley
Morgan Stanley
New York
-$110M
2
Goldman Sachs
Goldman Sachs
New York
-$45.4M
3
KCM
Keywise Capital Management
Cayman Islands
-$37.7M
4
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
-$30.4M
5
WAM
WT Asset Management
Hong Kong
-$27.1M
Name Holding Trade Value Shares
Change 		Change in
Stake
B
126
BP
United Kingdom
$950K +$787K +29,479 New
SAM
127
Shell Asset Management
Netherlands
$946K -$72.4K -2,710 -8%
GIBU
128
Gulf International Bank (UK)
United Kingdom
$934K – – –
Tudor Investment Corp
129
Tudor Investment Corp
Connecticut
$929K +$770K +28,818 New
GA
130
Greenspring Associates
Maryland
$872K +$723K +27,070 New
RA
131
Rational Advisors
New York
$821K +$681K +25,490 New
LSA
132
L & S Advisors
California
$802K +$665K +24,885 New
D.E. Shaw & Co
133
D.E. Shaw & Co
New York
$761K -$1.07M -39,918 -63%
Aberdeen Group
134
Aberdeen Group
United Kingdom
$680K -$1.45M -54,400 -72%
MTIM
135
Marathon Trading Investment Management
Pennsylvania
$644K +$62.1K +2,323 +13%
TAA
136
TB Alternative Assets
Cayman Islands
$638K -$22.5M -843,011 -98%
VOYA Investment Management
137
VOYA Investment Management
Georgia
$631K +$11.4K +425 +2%
Ohio Public Employees Retirement System (OPERS)
138
Ohio Public Employees Retirement System (OPERS)
Ohio
$586K -$8.01K -300 -2%
GC
139
Guggenheim Capital
Illinois
$560K -$183K -6,863 -28%
PA
140
Profund Advisors
Maryland
$547K +$454K +16,981 New
BCM
141
Bluefin Capital Management
New York
$538K -$10.3M -387,204 -96%
Russell Investments Group
142
Russell Investments Group
United Kingdom
$534K -$79.6K -2,978 -15%
MC
143
Martin Currie
United Kingdom
$507K -$18.1K -678 -4%
ACI
144
AMP Capital Investors
Australia
$499K – – –
TI
145
Trexquant Investment
Connecticut
$479K -$399K -14,948 -50%
GGHC
146
Gilder Gagnon Howe & Co
New York
$465K +$102K +3,819 +36%
Nomura Asset Management
147
Nomura Asset Management
Japan
$435K +$56.1K +2,100 +18%
PP
148
Paloma Partners
Connecticut
$417K +$345K +12,932 New
SPM
149
Symmetry Peak Management
Pennsylvania
$403K +$334K +12,500 New
AWM
150
Avitas Wealth Management
California
$377K +$313K +11,716 New
4 5
6
7 8

PDD Hedge Fund Activity: Q3 2019 in Review

186 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in Pinduoduo (PDD) for Q3 2019, worth a combined $5.52B — up 83% from $3.01B a quarter earlier.

Buyers outnumbered sellers: 48 funds opened new PDD positions and 36 closed out — a net gain of 12 holders — while 59 added to existing stakes and 61 trimmed.

The largest buyer was Baillie Gifford & Co, adding an estimated $382M. The largest seller was Morgan Stanley, cutting an estimated $110M.

  • 186 institutional investors held Pinduoduo (PDD) as of Q3 2019, up from 175 in Q2 2019.
  • Funds reported $5.52B of Pinduoduo stock for Q3 2019, up 83% quarter-over-quarter.
  • 48 funds opened new Pinduoduo positions in Q3 2019 and 36 closed out, a net change of +12 holders.
  • The largest Pinduoduo buyer in Q3 2019 was Baillie Gifford & Co, an estimated $382M added.
  • The largest Pinduoduo seller in Q3 2019 was Morgan Stanley, an estimated $110M sold.

Based on aggregated 13F filings for Q3 2019.