SRS Investment 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	–	Sell	-1,016,859	Closed	-$115M	–	34
2025 Q4	$115M	Sell	1,016,859 -1,637,535	-62%	-$203M	1.21%	18
2025 Q3	$351M	Sell	2,654,394 -1,409,987	-35%	-$167M	3.82%	7
2025 Q2	$425M	Hold	4,064,381	–	–	4.41%	6
2025 Q1	$481M	Hold	4,064,381	–	–	6.45%	4
2024 Q4	$394M	Sell	4,064,381 -287,136	-7%	-$33.4M	5.6%	6
2024 Q3	$587M	Buy	4,351,517 +704,270	+19%	+$86.5M	8.74%	5
2024 Q2	$485M	Hold	3,647,247	–	–	6.6%	5
2024 Q1	$424M	Sell	3,647,247 -643,266	-15%	-$84.3M	5.86%	5
2023 Q4	$628M	Hold	4,290,513	–	–	7.6%	4
2023 Q3	$421M	Buy	4,290,513 +1,844,111	+75%	+$159M	6.07%	5
2023 Q2	$169M	Buy	2,446,402 +2,342,119	+2,246%	+$161M	1.94%	9
2023 Q1	$7.92M	Buy	+104,283	New	+$9.43M	0.11%	19
2020 Q2	–	Sell	-3,543,387	Closed	-$128M	–	32
2020 Q1	$128M	Sell	3,543,387 -17,325	-0.5%	-$632K	2.94%	13
2019 Q4	$135M	Sell	3,560,712 -2,222,723	-38%	-$83M	3.22%	9
2019 Q3	$186M	Buy	5,783,435 +5,620,087	+3,441%	+$150M	5.03%	8
2019 Q2	$3.37M	Buy	+163,348	New	+$3.54M	0.08%	28
2018 Q4	–	Sell	-600,000	Closed	-$15.8M	–	26
2018 Q3	$15.8M	Buy	+600,000	New	+$12.9M	0.35%	21