Pinduoduo
PDD
536 hedge funds and large institutions have $42.9B invested in Pinduoduo in 2025 Q2 according to their latest regulatory filings, with 74 funds opening new positions, 201 increasing their positions, 201 reducing their positions, and 112 closing their positions.
20.66% more ownership
Funds ownership: 8.21% → 28.87% (+21%)
0% more repeat investments, than reductions
Existing positions increased: 201 | Existing positions reduced: 201
6% less funds holding in top 10
Funds holding in top 10: 69 → 65 (-4)
8% less funds holding
Funds holding: 582 → 536 (-46)
11% less call options, than puts
Call options by funds: $4.94B | Put options by funds: $5.59B
13% less capital invested
Capital invested by funds: $49.1B → $42.9B (-$6.24B)
34% less first-time investments, than exits
New positions opened: 74 | Existing positions closed: 112
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HCM
Himalaya Capital Management
Seattle,
Washington
|
+$483M |
| 2 |
Goldman Sachs
New York
|
+$442M |
| 3 |
NI
NetEase Inc
Hangzhou,
China
|
+$373M |
| 4 |
OAG
Orbis Allan Gray
Hamilton,
Bermuda
|
+$341M |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
+$310M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Mirae Asset Global Investments
Seoul,
South Korea
|
-$4.13B |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
-$1.33B |
| 3 |
Baillie Gifford & Co
Edinburgh,
United Kingdom
|
-$595M |
| 4 |
Tiger Global Management
New York
|
-$523M |
| 5 |
Fidelity International
Hamilton,
Bermuda
|
-$400M |
PDD Hedge Fund Activity: Q2 2025 in Review
536 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Pinduoduo (PDD) for Q2 2025, worth a combined $42.9B — down 13% from $49.1B a quarter earlier.
Sellers outnumbered buyers: 112 funds closed out of PDD and 74 opened new positions — a net loss of 38 holders — while 201 trimmed existing stakes and 201 added.
The largest buyer was Himalaya Capital Management, opening a new position worth an estimated $483M. The largest seller was Mirae Asset Global Investments, cutting an estimated $4.13B.
- 536 institutional investors held Pinduoduo (PDD) as of Q2 2025, down from 582 in Q1 2025.
- Funds reported $42.9B of Pinduoduo stock for Q2 2025, down 13% quarter-over-quarter.
- 74 funds opened new Pinduoduo positions in Q2 2025 and 112 closed out, a net change of -38 holders.
- The largest Pinduoduo buyer in Q2 2025 was Himalaya Capital Management, an estimated $483M added.
- The largest Pinduoduo seller in Q2 2025 was Mirae Asset Global Investments, an estimated $4.13B sold.
Based on aggregated 13F filings for Q2 2025.