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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
Capital World Investors
1
Capital World Investors
California
$65.2M – – –
BlackRock
2
BlackRock
New York
$51.3M +$9.48M +1,612,426 +31%
Vanguard Group
3
Vanguard Group
Pennsylvania
$48.8M +$10.5M +1,791,816 +38%
NIM
4
Needham Investment Management
New York
$44M -$2.79M -475,000 -7%
Marshall Wace
5
Marshall Wace
United Kingdom
$32.8M +$8.77M +1,492,015 +52%
William Blair & Company
6
William Blair & Company
Illinois
$19.8M -$1.91M -324,680 -11%
Geode Capital Management
7
Geode Capital Management
Massachusetts
$16.6M +$1.4M +238,129 +12%
Millennium Management
8
Millennium Management
New York
$16.2M +$5.65M +960,589 +80%
Acadian Asset Management
9
Acadian Asset Management
Massachusetts
$15.8M -$2.05M -348,245 -14%
Renaissance Technologies
10
Renaissance Technologies
New York
$15.3M +$5.53M +940,381 +85%
Morgan Stanley
11
Morgan Stanley
New York
$13.7M +$9.97M +1,697,046 +1,228%
State Street
12
State Street
Massachusetts
$13.6M +$1.26M +213,658 +13%
Citadel Advisors
13
Citadel Advisors
Florida
$12.2M +$7.99M +1,359,877 +514%
Connor, Clark & Lunn Investment Management (CC&L)
14
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$10.6M +$5.03M +855,630 +154%
DCM
15
Driehaus Capital Management
Illinois
$10.3M +$8.07M +1,373,551 New
N
16
Nuveen
North Carolina
$9.49M +$6.06M +1,030,593 +435%
Prudential Financial
17
Prudential Financial
New Jersey
$9.22M +$7.04M +1,198,043 +3,625%
Invesco
18
Invesco
Georgia
$8.5M +$6.5M +1,105,332 +3,682%
Fidelity Investments
19
Fidelity Investments
Massachusetts
$7.86M +$5.46M +928,617 +770%
Two Sigma Investments
20
Two Sigma Investments
New York
$7.01M +$3.23M +550,276 +143%
TAM
21
Tocqueville Asset Management
New York
$6.59M -$529K -90,000 -9%
Northern Trust
22
Northern Trust
Illinois
$6M +$613K +104,282 +15%
JP Morgan Chase
23
JP Morgan Chase
New York
$5.88M +$4.16M +708,169 +920%
Two Sigma Advisers
24
Two Sigma Advisers
New York
$5.3M +$1.9M +323,300 +84%
RAM
25
Readystate Asset Management
Illinois
$5.08M +$3.99M +678,731 New
1
2 3 4 5

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.