Baidu Stock Is Up 48% This Past Year — So Why Did One Fund Just Exit a $108 Million Position?

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Jonathan Ponciano, The Motley Fool

Mon, December 8, 2025 astatine 7:42 AM CST 5 min read

New York City-based RPD Fund Management reduced its involvement successful Baidu by astir 1.3 cardinal shares successful the 3rd quarter.
The nett presumption simplification equaled astir $108 million.
The presumption antecedently accounted for 4.5% of money AUM successful the anterior quarter.
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New York City-based RPD Fund Management sold retired its full presumption successful Baidu (NASDAQ:BIDU) during the 3rd quarter, a determination representing astir $108 cardinal successful value, according to a SEC filing for the play ended September 30.

According to a filing with the Securities and Exchange Commission dated November 14, RPD Fund Management afloat exited its holding successful Baidu (NASDAQ:BIDU), selling each 1.3 cardinal shares successful the 3rd quarter. The transaction reflects a nett presumption alteration of astir $108 cardinal based connected quarterly mean pricing. This marks a implicit liquidation of a involvement that antecedently represented 4.5% of the fund’s reported assets.

Top holdings aft the filing:

NASDAQ:GTM: $163.2 cardinal (97.9% of AUM)
NYSE:HOUS: $2.3 cardinal (1.4% of AUM)
NYSE:ANF: $752,840 (0.5% of AUM)
NASDAQ:DOMO: $503,712 (0.3% of AUM)

As of Friday, Baidu shares were priced astatine $125.66, up 48% implicit the past twelvemonth — good outperforming the S&P 500, which is up 13% successful the aforesaid period.

Metric

Value

Price (as of marketplace adjacent Friday)	$125.66
Market Capitalization	$43.8 billion
Revenue (TTM)	$18.8 billion
Net Income (TTM)	$3.9 billion

Baidu generates gross chiefly done online selling services, unreality computing, artificial quality initiatives, and integer video contented via its Baidu Core and iQIYI segments.
The institution offers online selling services, unreality services, and integer contented done its Baidu Core and iQIYI platforms.
Baidu serves businesses seeking integer selling and unreality solutions, arsenic good arsenic consumers successful China accessing search, video, and amusement content.

Baidu, Inc. is simply a starring net exertion institution successful China, leveraging its standard successful search, cloud, and AI-driven services to seizure integer advertizing and unreality computing demand. The company’s dual-segment operation enables it to diversify gross streams crossed some concern and user markets. Baidu’s competitory borderline lies successful its robust exertion infrastructure, extended idiosyncratic base, and ongoing investments successful artificial quality and integer contented platforms.

RPD Fund Management’s determination — arsenic ample arsenic it is — seems similar it could beryllium a motion of shifting condemnation successful a concern undergoing a analyzable transition. While Baidu’s banal has rallied meaningfully from its lows, the company’s latest net underscore however uneven that betterment remains. Third-quarter gross fell 7% twelvemonth implicit twelvemonth to RMB 31.2 billion, and Baidu reported a steep RMB 15.1 cardinal operating nonaccomplishment driven chiefly by a RMB 16.2 cardinal impairment to long-lived assets. Excluding this charge, halfway operations remained profitable, with non-GAAP nett income reaching RMB 3.8 cardinal ($530 million) and adjusted EBITDA totaling RMB 4.4 cardinal ($622 million).

RPD’s afloat exit removes what had been a meaningful 4.5% presumption successful a money present astir wholly concentrated successful a azygous holding. And portion Baidu continues to item AI-driven momentum — AI Cloud gross surged 33%, portion AI-native selling skyrocketed 262% — the mixed fiscal representation whitethorn person prompted a reassessment. Ultimately, anyone considering the banal should measurement improving AI fundamentals against volatility successful net prime and the company’s ongoing strategical pivot.