中国基金报·2025-11-19 07:54Core Viewpoint - Duan Yongping significantly increased his holdings in Berkshire Hathaway while reducing his positions in Apple, Pinduoduo, and Google, reflecting a strategic shift in investment focus [2][6]. Group 1: Portfolio Overview - As of the end of Q3 2025, H&H International Investment's total portfolio value reached approximately $14.7 billion (about 104.4 billion RMB), an increase of nearly 28% from $11.5 billion at the end of June [2][4]. - The portfolio includes 11 companies, with major holdings in Apple, Berkshire Hathaway, Pinduoduo, Occidental Petroleum, Microsoft, Disney, TSMC, and Nvidia [4]. Group 2: Changes in Holdings - Duan Yongping increased his stake in Berkshire Hathaway by over 53%, with the holding now valued at $2.61 billion, representing 17.78% of the portfolio [5][6]. - Apple remains the largest holding at 60.42%, valued at $8.69 billion, despite a slight reduction in shares [5][6]. - Significant reductions were made in Alibaba and Nvidia, with decreases exceeding 25%, alongside smaller reductions in Apple, Pinduoduo, and Google [6]. Group 3: Market Insights - Duan Yongping expressed uncertainty regarding the AI sector but acknowledged the importance of not missing out on potential opportunities, suggesting a cautious approach to investing in AI [8]. - Regarding Apple, he indicated that while it may not be a cheap investment, its potential for growth remains, and it could outperform traditional bank interest rates [9].