Apple(US:AAPL) Xin Lang Cai Jing·2025-11-15 03:41Core Insights - The article discusses the latest investment moves of prominent investor Duan Yongping, revealing his portfolio management through the H&H investment account, which holds 11 U.S. stocks valued at approximately $14.68 billion [1]. Group 1: Investment Portfolio - As of Q3 2025, Duan Yongping's H&H account has a total market value of $14.68 billion, equivalent to about 104.2 billion RMB [1]. - The largest holding is Apple, with a market value of $8.869 billion, accounting for 60.42% of the portfolio [2]. - Berkshire Hathaway B shares are the second-largest holding, valued at $2.610 billion, representing 17.78% of the portfolio [2]. - Other notable holdings include Pinduoduo, Occidental Petroleum, Alibaba, Google C, Microsoft, NVIDIA, Disney, ASML, and TSMC [1][2]. Group 2: Recent Trading Activity - In Q3, Duan Yongping initiated a new position in ASML, acquiring 80,000 shares valued at $77.45 million, which is a relatively small allocation at 0.53% of the portfolio [1]. - He increased his stake in Berkshire Hathaway B while reducing positions in Apple, Pinduoduo, Alibaba, Google C, and NVIDIA, while maintaining his holdings in Occidental Petroleum, Microsoft, Disney, and TSMC [1]. Group 3: Investment Philosophy - Duan Yongping emphasizes the importance of understanding the business and future cash flows when investing, stating that buying stocks equates to buying companies [6]. - He has previously invested in companies like NetEase, Yahoo, and Tencent, highlighting a focus on companies he understands well [6].