Duan Yongping - H&H International Investment Investment Strategy (Dec 31, 2025)

As of Dec 31, 2025, the H&H International Investment portfolio managed by Duan Yongping demonstrates a sophisticated investment approach with 18 positions and an average holding period of 1206 quarters. The strategy focuses on Communication Services, Consumer Cyclical, Energy, Financial Services, Healthcare, Technology sectors with a typical position size of 15.7% of the portfolio.

The portfolio's risk management approach includes a maximum position size of 15.65% 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	3.3 years	Style	Average duration positions are maintained
Position Count	18	Style	Number of active positions in portfolio
Position Size	15.7%	Risk	Typical allocation per position
Win Rate	62.4%	Performance	Percentage of profitable positions
Average Return	1876.0%	Performance	Mean return across positions
Sharpe Ratio	0.13	Performance	Return per unit of risk taken

Investment Case Study: APPLE INC (AAPL)

12/31/2018 - 3/23/2026

Performance Metrics

Total Return: 115,957.26%

Holding Period: 2639 days

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

Position Weight: 64.38%

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

12/31/2025: DECREASE(-2,470,600.00 shares) @ $271.86

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