Punch Card Management’s Pinduoduo PDD Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2025 Q2	$43.4M	Buy	415,004 +108,253	+35%	+$11.3M	14.02%	5
2025 Q1	$36.3M	Buy	306,751 +176,751	+136%	+$20.9M	16.76%	3
2024 Q4	$12.6M	Buy	+130,000	New	+$12.6M	4%	3