Duan Yongping
H&H International Investment
Duan Yongping (H&H International Investment) discloses a $19.10B portfolio across 18 US-listed positions in the latest 13F filing (2026Q2, filed Aug 14, 2026). The largest holding is AAPL at 41.1% of the book. The biggest move of the quarter: added 27% to the PDD share count (position now $1.91B). Mechanically cloning this 13F returned 24.8%/yr over the past 7.3 years, versus 15.5%/yr for the S&P 500 across that identical 7.3-year window.
Holdings (18) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | AAPL | 41.1% | $7.84B | |||
| 2 | BRK/B | 24.2% | $4.62B | |||
| 3 | PDD | 10.0% | $1.91B | |||
| 4 | TSLA | 7.4% | $1.42B | |||
| 5 | NVDA | 6.6% | $1.26B | |||
| 6 | GOOG | 3.6% | $696M | |||
| 7 | OXY | 2.6% | $498M | |||
| 8 | MSFT | 1.5% | $281M | |||
| 9 | G25457105 | 1.0% | $191M | |||
| 10 | UNH | 0.9% | $166M | |||
| 11 | DIS | 0.9% | $164M | |||
| 12 | BABA | 0.2% | $29M | |||
| 13 | CRCL | 0.1% | $13M | |||
| 14 | PLTR | <0.1% | $7M | |||
| 15 | SNPS | <0.1% | $4M | |||
| 16 | SNOW | <0.1% | $3M | |||
| 17 | TEM | <0.1% | $1M | |||
| 18 | INOD | <0.1% | $756K |
- 1AAPLport41.1%val$7.84BApple Incthis Q hold·30q
- port24.2%val$4.62BBerkshire Hathaway Inc-cl Bthis Q hold·30q
- 3PDDport10.0%val$1.91BPdd Holdings Incthis Q +27%·16q
- 4TSLAport7.4%val$1.42BTesla Incthis Q hold·2q
- 5NVDAport6.6%val$1.26BNvidia Corpthis Q -55%·6q
- 6GOOGport3.6%val$696MAlphabet Inc-cl Cthis Q -47%·30q
- 7OXYport2.6%val$498MOccidental Petroleum Corpthis Q hold·12q
- 8MSFTport1.5%val$281MMicrosoft Corpthis Q -26%·6q
- 9G25457105port1.0%val$191MCredo Technology Group Holdithis Q hold·3q
- 10UNHport0.9%val$166MUnitedhealth Group Incthis Q -34%·2q
- 11DISport0.9%val$164MWalt Disney Co/thethis Q hold·25q
- 12BABAport0.2%val$29MAlibaba Group Holding-sp Adrthis Q New·19q
- 13CRCLport0.1%val$13MCircle Internet Group Incthis Q hold·2q
- 14PLTRport<0.1%val$7MPalantir Technologies Inc-athis Q hold·2q
- 15SNPSport<0.1%val$4MSynopsys Incthis Q hold·2q
- 16SNOWport<0.1%val$3MSnowflake Incthis Q hold·2q
- 17TEMport<0.1%val$1MTempus AI Inc-cl Athis Q hold·3q
- 18INODport<0.1%val$756KInnodata Incthis Q hold·2q
2026Q2 moves, by size (8)(expand ↓)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| NVDA | Nvidia Corp | TRIM | 6.6% | -55% | $1.26B |
| PDD | Pdd Holdings Inc | ADD | 10.0% | +27% | $1.91B |
| GOOG | Alphabet Inc-cl C | TRIM | 3.6% | -47% | $696M |
| MSFT | Microsoft Corp | TRIM | 1.5% | -26% | $281M |
| UNH | Unitedhealth Group Inc | TRIM | 0.9% | -34% | $166M |
| TSM | Taiwan Semiconductor-sp Adr | EXIT | 0.3% | -100% | $0 |
| BABA | Alibaba Group Holding-sp Adr | NEW | 0.2% | +100% | $29M |
| CRWD | Crowdstrike Holdings Inc - A | EXIT | <0.1% | -100% | $0 |
- TRIMNVDA6.6%Nvidia CorpΔ -55%·$1.26B
- ADDPDD10.0%Pdd Holdings IncΔ +27%·$1.91B
- TRIMGOOG3.6%Alphabet Inc-cl CΔ -47%·$696M
- TRIMMSFT1.5%Microsoft CorpΔ -26%·$281M
- TRIMUNH0.9%Unitedhealth Group IncΔ -34%·$166M
- EXITTSM0.3%Taiwan Semiconductor-sp AdrΔ -100%·$0
- NEWBABA0.2%Alibaba Group Holding-sp AdrΔ +100%·$29M
- EXITCRWD<0.1%Crowdstrike Holdings Inc - AΔ -100%·$0
About Duan Yongping
Duan Yongping is a Chinese entrepreneur-turned-concentrated-value investor best known as the founder of BBK Electronics and, indirectly, the backer of what became OPPO and vivo. His public investment philosophy is an explicit derivative of Buffett and Munger: buy businesses with durable competitive advantage, hold indefinitely, and ignore short-term price movements — a posture he has articulated for years on Chinese social platforms, particularly Xueqiu. H&H International's 13F reflects that discipline directly: 19 positions, 87% in the top five, with AAPL and BRK/B together accounting for more than half the disclosed equity book. His most widely cited trade was paying $620,100 at a 2006 charity auction for a Buffett lunch — a capital-allocation decision he has described as the best investment he ever made. Readers should note that the 13F captures only U.S.-listed long equities; his PDD position straddles NASDAQ listing and Hong Kong, and any private holdings, Chinese domestic equities, or options overlays fall entirely outside the filing.
2026Q2 brief
2026Q2 activity: 1 new position (top: BABA); 1 conviction add (top: PDD); 2 exits (top: TSM, CRWD). Top 5 holdings: AAPL, BRK/B, PDD, TSLA, NVDA (89% of portfolio).
AI-generated. Not investment advice.
Filing history
Duan Yongping's disclosed 13F portfolio value and position count by quarter — the trajectory across every SEC filing.
| Quarter | Positions | Portfolio value |
|---|---|---|
| Q2 2026 — what changed → | 18 | $19.10B |
| Q1 2026 — what changed → | 19 | $20.00B |
| Q4 2025 — what changed → | 14 | $17.49B |
| Q3 2025 — what changed → | 11 | $14.68B |
| Q2 2025 — what changed → | 10 | $11.53B |
| Q1 2025 — what changed → | 11 | $12.00B |
| Q4 2024 holdings | 8 | $14.52B |
| Q3 2024 holdings | 8 | $16.54B |
| Q2 2024 holdings | 9 | $16.63B |
| Q1 2024 holdings | 9 | $14.20B |
| Q4 2023 holdings | 9 | $14.46B |
| Q3 2023 holdings | 9 | $13.28B |
Values as disclosed at each quarter end. Older filings on EDGAR.
Multibaggers Duan Yongping held
Stocks up 5x or more since Duan Yongping first held them at conviction size — the holding record behind the returns. Longest unbroken run and largest book weight are shown for each.
- NVDA488xNVIDIA CORP5q straight · peak 12.07% · still holds
- TSM27.7xTAIWAN SEMICONDUCTOR-SP ADR5q straight · peak 2.13% · still holds
- TSLA22.5xTESLA INC1q straight · peak 6.34% · still holds
- ASML21.3xASML HLDG NV2q straight · peak 0.53%
- AAPL19.9xAPPLE INC24q straight · peak 80.95% · still holds
- AMZN13.8xAMAZON.COM INC9q straight · peak 15.99%
Six biggest of 10. Price multiple since the first quarter we observed a conviction holding (2014Q1 at the earliest), not Duan Yongping's realized return — entry price and trades between filings aren't disclosed. Peak weight is share of disclosed US 13F book. All 129 multibaggers the cohort held →
Frequently asked questions
- What stocks does Duan Yongping own?
- As of 2026Q2, Duan Yongping's 13F discloses 18 positions worth $19.10B. The top five holdings: AAPL (41.1%), BRK/B (24.2%), PDD (10.0%), TSLA (7.4%), NVDA (6.6%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Duan Yongping buy this quarter?
- In 2026Q2, the filing shows 1 new position and 1 addition to existing holdings. The largest positions touched by buying: PDD, BABA.
- How big is Duan Yongping's portfolio?
- $19.10B across 18 positions per the latest 13F (filed Aug 14, 2026). The top five holdings account for 89% of the disclosed book.
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Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001759760). Not investment advice.