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161 hedge funds and large institutions have $560M invested in ThredUp in 2025 Q2 according to their latest regulatory filings, with 56 funds opening new positions, 64 increasing their positions, 28 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

954% more call options, than puts

Call options by funds: $10.2M | Put options by funds: $964K

522% more first-time investments, than exits

New positions opened: 56 | Existing positions closed: 9

300% more capital invested

Capital invested by funds: $140M → $560M (+$420M)

129% more repeat investments, than reductions

Existing positions increased: 64 | Existing positions reduced: 28

41% more funds holding

Funds holding: 114 → 161 (+47)

14.81% more ownership

Funds ownership: 62.77% → 77.58% (+15%)

Holders
161
Holders Change
+47
Holders Change %
+41.23%
% of All Funds
2.12%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.01%
New
56
Increased
64
Reduced
28
Closed
9
Calls
$10.2M
Puts
$964K
Net Calls
+$9.2M
Net Calls Change
+$8.92M

Top Buyers

Rank Fund Capital Flow
1
Vanguard Group
Vanguard Group
Pennsylvania
+$10.5M
2
Morgan Stanley
Morgan Stanley
New York
+$9.97M
3
BlackRock
BlackRock
New York
+$9.48M
4
Marshall Wace
Marshall Wace
United Kingdom
+$8.77M
5
DCM
Driehaus Capital Management
Illinois
+$8.07M

Top Sellers

Rank Fund Capital Flow
1
Ameriprise
Ameriprise
Minnesota
-$29M
2
Fidelity International
Fidelity International
Bermuda
-$13.4M
3
B
BloombergSen
Ontario, Canada
-$3.68M
4
Jacobs Levy Equity Management
Jacobs Levy Equity Management
New Jersey
-$2.81M
5
NIM
Needham Investment Management
New York
-$2.79M
Name Holding Trade Value Shares
Change 		Change in
Stake
URS
76
Utah Retirement Systems
Utah
$474K – – –
SOW
77
State of Wyoming
Wyoming
$453K +$355K +60,486 New
EC
78
EntryPoint Capital
New York
$446K +$350K +59,560 New
BAM
79
Bosun Asset Management
Illinois
$397K -$188K -32,011 -38%
Polen Capital Management
80
Polen Capital Management
Florida
$397K +$311K +52,989 New
Wells Fargo
81
Wells Fargo
California
$388K +$20.1K +3,417 +7%
BCM
82
Bayesian Capital Management
New York
$382K +$300K +51,000 New
Mirae Asset Global ETFs Holdings
83
Mirae Asset Global ETFs Holdings
Hong Kong
$373K +$12.6K +2,145 +4%
DFCM
84
Dark Forest Capital Management
Puerto Rico
$367K +$288K +49,017 New
GCM
85
Graham Capital Management
Connecticut
$357K +$280K +47,653 New
T. Rowe Price Associates
86
T. Rowe Price Associates
Maryland
$341K +$56.8K +9,665 +27%
Verition Fund Management
87
Verition Fund Management
Connecticut
$331K +$260K +44,157 New
XT
88
XTX Topco
Cayman Islands
$267K -$101K -17,271 -33%
Citigroup
89
Citigroup
New York
$259K -$120K -20,492 -37%
B
90
Bailard
California
$245K +$192K +32,700 New
IC
91
IEQ Capital
California
$240K -$3.47K -590 -2%
Manulife (Manufacturers Life Insurance)
92
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$234K +$9.41K +1,601 +5%
CP
93
Creekside Partners
California
$225K – – –
DT
94
Diversified Trust
Tennessee
$218K -$9.91K -1,686 -5%
CAM
95
Cidel Asset Management
Ontario, Canada
$216K – – –
SG Americas Securities
96
SG Americas Securities
New York
$203K +$7.62K +1,296 +5%
Franklin Resources
97
Franklin Resources
California
$196K +$154K +26,229 New
VOYA Investment Management
98
VOYA Investment Management
Georgia
$188K +$24.1K +4,108 +20%
OAC
99
OMERS Administration Corp
Ontario, Canada
$183K +$143K +24,400 New
New York State Common Retirement Fund
100
New York State Common Retirement Fund
New York
$180K -$38.6K -6,568 -21%
2 3
4
5 6

TDUP Hedge Fund Activity: Q2 2025 in Review

161 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in ThredUp (TDUP) for Q2 2025, worth a combined $560M — up 300% from $140M a quarter earlier.

Buyers outnumbered sellers: 56 funds opened new TDUP positions and 9 closed out — a net gain of 47 holders — while 64 added to existing stakes and 28 trimmed.

The largest buyer was Vanguard Group, adding an estimated $10.5M. The largest seller was Ameriprise, cutting an estimated $29M.

  • 161 institutional investors held ThredUp (TDUP) as of Q2 2025, up from 114 in Q1 2025.
  • Funds reported $560M of ThredUp stock for Q2 2025, up 300% quarter-over-quarter.
  • 56 funds opened new ThredUp positions in Q2 2025 and 9 closed out, a net change of +47 holders.
  • The largest ThredUp buyer in Q2 2025 was Vanguard Group, an estimated $10.5M added.
  • The largest ThredUp seller in Q2 2025 was Ameriprise, an estimated $29M sold.

Based on aggregated 13F filings for Q2 2025.