Cederberg Capital’s Pinduoduo PDD Stock Holding History

Cederberg Capital’s Portfolio PDD Stock Details PDD Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$39.1M	Sell	383,100 -372,800	-49%	-$39.2M	21.01%	2
2025 Q4	$85.7M	Hold	755,900	–	–	27.83%	1
2025 Q3	$99.9M	Buy	755,900 +243,900	+48%	+$28.9M	28.53%	1
2025 Q2	$53.6M	Sell	512,000 -16,700	-3%	-$1.75M	19.68%	2
2025 Q1	$62.6M	Sell	528,700 -39,600	-7%	-$4.54M	24.17%	2
2024 Q4	$55.1M	Hold	568,300	–	–	18.71%	3
2024 Q3	$76.6M	Sell	568,300 -382,700	-40%	-$47M	19.85%	2
2024 Q2	$126M	Sell	951,000 -181,700	-16%	-$24.6M	41.56%	1
2024 Q1	$132M	Sell	1,132,700 -267,600	-19%	-$35.1M	36.51%	1
2023 Q4	$205M	Sell	1,400,300 -3,400	-0.2%	-$412K	47.15%	1
2023 Q3	$138M	Buy	1,403,700 +42,200	+3%	+$3.64M	38.56%	1
2023 Q2	$94.1M	Hold	1,361,500	–	–	41.06%	1
2023 Q1	$103M	Hold	1,361,500	–	–	35.12%	1
2022 Q4	$111M	Hold	1,361,500	–	–	36.89%	1
2022 Q3	$85.2M	Sell	1,361,500 -368,000	-21%	-$21.4M	33.17%	1
2022 Q2	$107M	Buy	1,729,500 +230,000	+15%	+$10.8M	28.32%	1
2022 Q1	$60.1M	Buy	+1,499,500	New	+$77.1M	15.05%	3

Other funds holding PDD

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

Baillie Gifford & Co Edinburgh, United Kingdom $97.9B AUM 20.73% 1-Year Est. Return

VCM

Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM

Invesco Atlanta, Georgia $1.02T AUM 30.18% 1-Year Est. Return

HHII

H&H International Investment Palo Alto, California $20B AUM 9.66% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

HSG Holding Na, Hong Kong $1.62B AUM 5.91% 1-Year Est. Return

Goldman Sachs New York $871B AUM 31.28% 1-Year Est. Return

NetEase Inc Hangzhou, China $934M AUM 11.31% 1-Year Est. Return

SUT

SC US (TTGP) Menlo Park, California $9.25B AUM 20.49% 1-Year Est. Return

Cederberg Capital's PDD Position: Q1 2026 in Review

Cederberg Capital reduced its Pinduoduo (PDD) stake by 49% in Q1 2026, selling an estimated $39.2M and leaving 383,100 shares worth $39.1M. The position accounts for 21.01% of the portfolio, ranked #2.

Cederberg Capital first reported a position in PDD in Q1 2022 and has held it in 17 quarters since. The position peaked at $205M in Q4 2023. 563 funds tracked by Wall St. Rank hold PDD as of Q1 2026.

Cederberg Capital held 383,100 shares of Pinduoduo worth $39.1M as of Q1 2026.
Cederberg Capital sold 372,800 Pinduoduo shares in Q1 2026, an estimated $39.2M.
Pinduoduo made up 21.01% of Cederberg Capital's portfolio in Q1 2026, its #2 holding.
Cederberg Capital first reported a position in Pinduoduo in Q1 2022 and has held it in 17 quarters since.
Cederberg Capital's Pinduoduo position peaked at $205M in Q4 2023.
563 funds tracked by Wall St. Rank held Pinduoduo as of Q1 2026.

Based on Cederberg Capital's 13F filing for Q1 2026, filed 15 May 2026.