Duan Yongping’s latest holdings for Q1 2026: selling Apple to buy Google, Pinduoduo—Apple is still the largest position, but the number of shares has already fallen. In the past, Apple was the absolute core; now it’s more like a ballast. You can still hold it, but there’s no need to keep the portfolio’s main focus entirely on it.

Berkshire Hathaway, Nvidia, Pinduoduo, and Google continue to add to their positions—this actually shows he isn’t lowering his risk appetite, but switching to different risks.
TSMC has cut its position significantly. What’s unexpected is that he entered Circle... this is the first time he has moved into the crypto industry!