Duan Yongping's H&H Investment Shuffles Portfolio: Apple Dominates Amid Strategic Realignments

In the latest filing to the U.S. Securities and Exchange Commission, overseen by renowned investor Duan Yongping, H&H International Investment revealed its second-quarter holdings as of June 30, 2025. The investment firm reported a decrease in the total market value of its holdings from $120 billion in the previous quarter to $115 billion. The portfolio saw adjustments with zero new stocks added, four stocks increased, four reduced, and one entirely liquidated. Among these, the top ten holdings accounted for the entirety of its market value.

Apple Inc. remains the most significant investment for H&H, with approximately 35.12 million shares valued at $72.1 billion, accounting for 62.47% of the total portfolio. This represents a 2.61% increase in the number of shares compared to the previous quarter. Berkshire Hathaway holds the second position with approximately 3.38 million shares valued at $16.4 billion, reflecting no change in quantity.

Pinduoduo is positioned third with 8.66 million shares valued at $9.1 billion, comprising 7.86% of the portfolio and marking an 11.72% increase from the last quarter. Occidental Petroleum ranks fourth, with 13.56 million shares worth $5.7 billion, seeing a 1.95% decrease in shares held. Alibaba stands at fifth, with 3.75 million shares valued at $4.2 billion, reflecting a 5.92% reduction in holdings.

The quarter witnessed significant increases in holdings of Google-Class C and Nvidia, with share quantities increasing by 75.17% and 49.56%, respectively. Meanwhile, H&H modestly reduced its stakes in Microsoft and TSMC and completely exited its position in Moderna, which had been gradually decreased over several years prior.

A notable shift is observed in buying patterns, with Google-Class C, Nvidia, Pinduoduo, and Apple leading the acquisitions. Conversely, the most substantial sell-offs included Occidental Petroleum, Alibaba, and Moderna, reflecting a strategic realignment in the portfolio.