Pinduoduo
PDD
559 hedge funds and large institutions have $53.9B invested in Pinduoduo in 2025 Q3 according to their latest regulatory filings, with 92 funds opening new positions, 221 increasing their positions, 176 reducing their positions, and 66 closing their positions.
39% more first-time investments, than exits
New positions opened: 92 | Existing positions closed: 66
26% more capital invested
Capital invested by funds: $42.9B → $53.9B (+$11B)
26% more repeat investments, than reductions
Existing positions increased: 221 | Existing positions reduced: 176
4% more funds holding
Funds holding: 537 → 559 (+22)
10% more call options, than puts
Call options by funds: $10.3B | Put options by funds: $9.38B
0% more funds holding in top 10
Funds holding in top 10: 65 → 65 (0)
0.1% less ownership
Funds ownership: 28.87% → 28.77% (-0.1%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HSBC Holdings
London,
United Kingdom
|
+$483M |
| 2 |
Fidelity International
Hamilton,
Bermuda
|
+$433M |
| 3 |
AMH
Aspex Management (HK)
Central,
Hong Kong
|
+$376M |
| 4 |
Jane Street
New York
|
+$347M |
| 5 |
Temasek Holdings
Singapore
|
+$343M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS AM
Chicago,
Illinois
|
-$967M |
| 2 |
Assenagon Asset Management
Senningerberg,
Luxembourg
|
-$679M |
| 3 |
Baillie Gifford & Co
Edinburgh,
United Kingdom
|
-$305M |
| 4 |
HH
HSG Holding
Na,
Hong Kong
|
-$266M |
| 5 |
SUT
SC US (TTGP)
Menlo Park,
California
|
-$207M |
PDD Hedge Fund Activity: Q3 2025 in Review
559 of the 7,638 institutional investors tracked by Wall St. Rank reported a position in Pinduoduo (PDD) for Q3 2025, worth a combined $53.9B — up 26% from $42.9B a quarter earlier.
Buyers outnumbered sellers: 92 funds opened new PDD positions and 66 closed out — a net gain of 26 holders — while 221 added to existing stakes and 176 trimmed.
The largest buyer was HSBC Holdings, adding an estimated $483M. The largest seller was UBS AM, exiting entirely with an estimated $967M sold.
- 559 institutional investors held Pinduoduo (PDD) as of Q3 2025, up from 537 in Q2 2025.
- Funds reported $53.9B of Pinduoduo stock for Q3 2025, up 26% quarter-over-quarter.
- 92 funds opened new Pinduoduo positions in Q3 2025 and 66 closed out, a net change of +26 holders.
- The largest Pinduoduo buyer in Q3 2025 was HSBC Holdings, an estimated $483M added.
- The largest Pinduoduo seller in Q3 2025 was UBS AM, an estimated $967M sold.
Based on aggregated 13F filings for Q3 2025.