Causeway Capital Management’s Pinduoduo PDD Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$24.2M	Sell	237,010 -134,231	-36%	-$14.1M	0.3%	60
2025 Q4	$42.1M	Buy	371,241 +61,600	+20%	+$7.65M	0.58%	44
2025 Q3	$40.9M	Buy	+309,641	New	+$36.7M	0.54%	47
2025 Q2	–	Sell	-105,926	Closed	-$12.5M	–	105
2025 Q1	$12.5M	Sell	105,926 -340,346	-76%	-$39.1M	0.26%	59
2024 Q4	$43.3M	Sell	446,272 -322,505	-42%	-$37.5M	0.99%	30
2024 Q3	$104M	Buy	768,777 +24,174	+3%	+$2.97M	2.55%	7
2024 Q2	$99M	Buy	744,603 +62,230	+9%	+$8.43M	2.7%	4
2024 Q1	$79.3M	Buy	682,373 +24,856	+4%	+$3.26M	2.07%	9
2023 Q4	$96.2M	Sell	657,517 -6,380	-1%	-$774K	2.45%	6
2023 Q3	$65.1M	Sell	663,897 -164,298	-20%	-$14.2M	1.72%	12
2023 Q2	$57.3M	Buy	828,195 +7,277	+0.9%	+$500K	1.51%	14
2023 Q1	$62.3M	Buy	820,918 +7,767	+1%	+$702K	1.49%	16
2022 Q4	$66.3M	Buy	813,151 +311,839	+62%	+$21.7M	1.93%	8
2022 Q3	$31.4M	Buy	501,312 +282,753	+129%	+$16.4M	0.88%	30
2022 Q2	$13.5M	Buy	+218,559	New	+$10.2M	0.34%	52
2022 Q1	–	Sell	-116,800	Closed	-$6.81M	–	84
2021 Q4	$6.81M	Buy	116,800 +92,199	+375%	+$7.27M	0.15%	66
2021 Q3	$2.23M	Buy	+24,601	New	+$2.39M	0.05%	73
2020 Q3	–	Sell	-213,200	Closed	-$18.3M	–	88
2020 Q2	$18.3M	Buy	+213,200	New	+$12.8M	0.33%	50