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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
Ameriprise
151
Ameriprise
Minnesota
$387K +$419K +15,614 New
SAM
152
Shell Asset Management
Netherlands
$387K +$419K +15,620 New
ACI
153
AMP Capital Investors
Australia
$372K +$428K +15,963 New
FFM
154
Fullerton Fund Management
Singapore
$331K +$358K +13,350 New
Nomura Asset Management
155
Nomura Asset Management
Japan
$327K +$354K +13,200 New
PPA
156
Parametric Portfolio Associates
Washington
$297K +$322K +11,988 New
PA
157
Profund Advisors
Maryland
$294K +$318K +11,843 New
NMC
158
Nine Masts Capital
Hong Kong
$275K +$297K +11,072 New
DCM
159
Driehaus Capital Management
Illinois
$263K -$3.22M -119,850 -92%
TI
160
Trexquant Investment
Connecticut
$259K +$281K +10,456 New
FTUS
161
Flow Traders U.S.
New York
$247K +$267K +9,943 New
WAM
162
World Asset Management
Michigan
$222K +$240K +8,947 New
QI
163
QS Investors
New York
$216K +$234K +8,705 New
BFM
164
Boothbay Fund Management
New York
$213K +$231K +8,593 New
AL
165
AJO LP
Pennsylvania
$207K +$224K +8,341 New
Capstone Investment Advisors
166
Capstone Investment Advisors
New York
$191K +$207K +7,720 New
GGHC
167
Gilder Gagnon Howe & Co
New York
$129K +$15.1K +561 +12%
Daiwa Securities Group
168
Daiwa Securities Group
Japan
$102K +$110K +4,100 New
ACA
169
Atlas Capital Advisors
Wyoming
$86.8K +$93.9K +3,501 New
QCG
170
Quadrant Capital Group
Ohio
$66K +$72.5K +2,704 New
CSS
171
Cubist Systematic Strategies
Connecticut
$53K -$410K -15,273 -88%
OAM
172
Oppenheimer Asset Management
New York
$35K +$38.4K +1,431 New
Marshall Wace
173
Marshall Wace
United Kingdom
$34K -$251K -9,366 -87%
Royal Bank of Canada
174
Royal Bank of Canada
Ontario, Canada
$28K +$28.2K +1,051 +1,781%
PAM
175
Panagora Asset Management
Massachusetts
$24K +$26K +970 New
5 6
7
8 9

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.