HONG KONG, Aug 30 Reuters Concentrated bets on popular Chinese ecommerce giant PDD Holdings may have led to losses in billions of dollars for hedge funds from a crash in its shares following downbeat comments from its executives.

U.S.listed shares in PDD, the owner of lowpriced retailer Temu, plummeted 33 this week, and 30 in the third quarter.

BY THE NUMBERS

Global hedge funds held 102.8 million shares of PDD at the end of June, up from 91.7 million shares the previous quarter, according to an estimate by WhaleWisdom, a website that tracks and analyses quarterly U.S. 13F filings.

It is unclear if hedge funds increased or reduced their investments since then, but Reuters39; calculations show the 30 fall in PDD shares between the end of June and Aug. 29 would have wiped out a combined value of roughly 4 billion from those positions.

Some of Asia39;s largest hedge funds, including billionaire Zhang Lei39;s HHLR Advisors, Tairen Capital, Greenwoods Asset Management, were among the major investors in PDD by market value as of June 30, according to WhaleWisdom.

Among global hedge fund giants, David Tepper39;s Appaloosa Management owned 1.94 million shares of PDD at the end of the second quarter, worth more than 250 million.

THE CONTEXT

PDD missed market estimates for quarterly revenue on Monday. During the earnings call, the firm said revenue growth would face pressure due to intensified competition and external challenges, and there were no plans for dividends or…