Core Insights - Duan Yongping significantly increased his stake in Berkshire Hathaway while reducing holdings in Apple, Pinduoduo, and Google [1][4]. Holdings Overview - H&H International Investment, managed by Duan Yongping, reported a total portfolio value of approximately $14.7 billion as of Q3 2025, up nearly 28% from $11.5 billion at the end of June [1][3]. - The portfolio includes 11 companies, with Apple being the largest holding at 60.42%, valued at $8.869 billion, followed by Berkshire Hathaway at 17.78%, valued at $2.61 billion [4]. Investment Actions - In Q3, Duan Yongping increased his position in Berkshire Hathaway by over 53%, purchasing put options as the stock price appeared attractive after a decline to around $464 per share [4]. - He reduced his holdings in Alibaba and Nvidia by more than 25%, along with slight reductions in Apple, Pinduoduo, and Google [4]. Market Perspective - Duan Yongping expressed uncertainty about the AI sector but acknowledged the importance of participating in it to avoid missing potential opportunities [6]. - Regarding Apple, he noted that while it may not be a cheap investment, it could still yield significant returns compared to traditional bank interest rates [6].