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114 hedge funds and large institutions have $140M invested in ThredUp in 2025 Q1 according to their latest regulatory filings, with 27 funds opening new positions, 32 increasing their positions, 31 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

575% more first-time investments, than exits

New positions opened: 27 | Existing positions closed: 4

94% more capital invested

Capital invested by funds: $72.4M → $140M (+$67.7M)

25% more funds holding

Funds holding: 91 → 114 (+23)

21% more call options, than puts

Call options by funds: $1.63M | Put options by funds: $1.34M

1.97% more ownership

Funds ownership: 60.8% → 62.77% (+2%)

3% more repeat investments, than reductions

Existing positions increased: 32 | Existing positions reduced: 31

Holders
114
Holders Change
+23
Holders Change %
+25.27%
% of All Funds
1.53%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
27
Increased
32
Reduced
31
Closed
4
Calls
$1.63M
Puts
$1.34M
Net Calls
+$281K
Net Calls Change
-$16K

Top Buyers

Rank Fund Capital Flow
1
Marshall Wace
Marshall Wace
United Kingdom
+$3.13M
2
Millennium Management
Millennium Management
New York
+$2.57M
3
TAM
Tocqueville Asset Management
New York
+$2.23M
4
William Blair & Company
William Blair & Company
Illinois
+$2.16M
5
B
BloombergSen
Ontario, Canada
+$1.45M

Top Sellers

Rank Fund Capital Flow
1
Goldman Sachs
Goldman Sachs
New York
-$2.61M
2
Fidelity International
Fidelity International
Bermuda
-$1.04M
3
Jacobs Levy Equity Management
Jacobs Levy Equity Management
New Jersey
-$470K
4
Morgan Stanley
Morgan Stanley
New York
-$337K
5
JP Morgan Chase
JP Morgan Chase
New York
-$287K
Name Holding Trade Value Shares
Change 		Change in
Stake
PD
101
Point72 (DIFC)
United Arab Emirates
$6.77K +$6.47K +2,810 New
CIBC Private Wealth Group
102
CIBC Private Wealth Group
Georgia
$5.31K – – –
CA
103
Clearstead Advisors
Ohio
$3.13K – – –
SCM
104
Sterling Capital Management
North Carolina
$2.79K -$2.38K -1,033 -47%
CA
105
CoreCap Advisors
Michigan
$2.41K – – –
EWA
106
EverSource Wealth Advisors
Alabama
$622 +$594 +258 New
PNC Financial Services Group
107
PNC Financial Services Group
Pennsylvania
$386 +$368 +160 New
Russell Investments Group
108
Russell Investments Group
United Kingdom
$280 +$267 +116 New
PGAM
109
Princeton Global Asset Management
New Jersey
$241 -$2.3K -1,000 -91%
PA
110
Parallel Advisors
California
$111 – – –
TWC
111
TD Waterhouse Canada
Ontario, Canada
$86 – – –
Northwestern Mutual Wealth Management
112
Northwestern Mutual Wealth Management
Wisconsin
$48 +$46 +20 New
TWD
113
True Wealth Design
Ohio
$39 +$37 +16 New
SS
114
SBI Securities
Japan
$7 -$2.3K -1,000 -100%
Ohio Public Employees Retirement System (OPERS)
115
Ohio Public Employees Retirement System (OPERS)
Ohio
– -$58.8K -42,331 Closed
VF
116
Virtu Financial
New York
– -$33K -24,091 Closed
B
117
Bensler
Washington
– -$14K -10,101 Closed
AWM
118
Avior Wealth Management
Nebraska
– -$338 -243 Closed
1 2 3 4
5

TDUP Hedge Fund Activity: Q1 2025 in Review

114 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in ThredUp (TDUP) for Q1 2025, worth a combined $140M — up 94% from $72.4M a quarter earlier.

Buyers outnumbered sellers: 27 funds opened new TDUP positions and 4 closed out — a net gain of 23 holders — while 32 added to existing stakes and 31 trimmed.

The largest buyer was Marshall Wace, adding an estimated $3.13M. The largest seller was Goldman Sachs, cutting an estimated $2.61M.

  • 114 institutional investors held ThredUp (TDUP) as of Q1 2025, up from 91 in Q4 2024.
  • Funds reported $140M of ThredUp stock for Q1 2025, up 94% quarter-over-quarter.
  • 27 funds opened new ThredUp positions in Q1 2025 and 4 closed out, a net change of +23 holders.
  • The largest ThredUp buyer in Q1 2025 was Marshall Wace, an estimated $3.13M added.
  • The largest ThredUp seller in Q1 2025 was Goldman Sachs, an estimated $2.61M sold.

Based on aggregated 13F filings for Q1 2025.