Duan Yongping - H&H International Investment Investment Strategy (Sep 30, 2025)

As of Sep 30, 2025, the H&H International Investment portfolio managed by Duan Yongping demonstrates a sophisticated investment approach with 16 positions and an average holding period of 1172 quarters. The strategy focuses on Communication Services, Consumer Cyclical, Energy, Financial Services, Healthcare, Technology sectors with a typical position size of 16.4% of the portfolio.

The portfolio's risk management approach includes a maximum position size of 16.44% and sector diversification of 6%, exemplified by the case study of APPLE INC (AAPL). This strategic framework provides insights into Duan Yongping's investment philosophy, risk management practices, and long-term value creation approach.

Investment Strategy Metrics

Key metrics revealing investment style, risk management, and performance characteristics

Metric	Value	Category	Description
Holding Period	3.2 years	Style	Average duration positions are maintained
Position Count	16	Style	Number of active positions in portfolio
Position Size	16.4%	Risk	Typical allocation per position
Win Rate	63.2%	Performance	Percentage of profitable positions
Average Return	2042.4%	Performance	Mean return across positions
Sharpe Ratio	0.14	Performance	Return per unit of risk taken

Investment Case Study: APPLE INC (AAPL)

12/31/2018 - 12/26/2025

Performance Metrics

Total Return: 115,958.06%

Holding Period: 2552 days

Max Position Size: $13,463,726,588.00

Position Weight: 64.89%

Key Events

12/31/2018: ENTRY(2,699,400.00 shares) @ $0.16

3/31/2019: INCREASE(628,200.00 shares) @ $0.19

6/30/2019: INCREASE(550,300.00 shares) @ $0.20

9/30/2019: DECREASE(-438,800.00 shares) @ $0.22

12/31/2019: DECREASE(-192,100.00 shares) @ $0.29

3/31/2020: INCREASE(3,410,600.00 shares) @ $0.25

6/30/2020: INCREASE(549,800.00 shares) @ $0.36

9/30/2020: INCREASE(20,364,600.00 shares) @ $0.12

12/31/2020: INCREASE(529,300.00 shares) @ $0.13

3/31/2021: INCREASE(7,186,900.00 shares) @ $0.12

6/30/2021: INCREASE(4,125,800.00 shares) @ $0.14

9/30/2021: DECREASE(-4,101,600.00 shares) @ $0.14

12/31/2021: DECREASE(-5,238,700.00 shares) @ $0.18

3/31/2022: INCREASE(5,337,000.00 shares) @ $0.17

6/30/2022: INCREASE(7,090,400.00 shares) @ $0.14

9/30/2022: INCREASE(7,257,000.00 shares) @ $0.14

12/31/2022: INCREASE(11,474,600.00 shares) @ $129.93

3/31/2023: INCREASE(2,030,174.00 shares) @ $164.90

6/30/2023: DECREASE(-2,628,900.00 shares) @ $193.97

9/30/2023: INCREASE(385,977.00 shares) @ $171.21

12/31/2023: DECREASE(-1,296,880.00 shares) @ $192.53

3/31/2024: INCREASE(4,860,022.00 shares) @ $171.48

6/30/2024: DECREASE(-658,838.00 shares) @ $210.62

9/30/2024: DECREASE(-11,155,100.00 shares) @ $233.00

12/31/2024: DECREASE(-11,904,578.00 shares) @ $250.42

3/31/2025: DECREASE(-6,640,396.00 shares) @ $222.13

6/30/2025: INCREASE(894,426.00 shares) @ $205.17

9/30/2025: DECREASE(-289,500.00 shares) @ $254.63

Investment Thesis

Entry Context: Initial position established based on fundamental analysis

Sector Conditions: Favorable market conditions in the sector

Risk Factors:

Market volatility
Sector-specific risks

Key Learnings

Position sizing is critical for portfolio management
Important to monitor sector exposure