As of Q3 2025, Duan Yongping's US stock portfolio total market value is approximately $14.679 billion, with the top ten holdings accounting for 99.51%. This showcases an extremely concentrated investment style—more Buffett than Buffett: - The absolute cornerstone, Apple (AAPL), still accounts for 60.42% of the portfolio and remains his most profitable stock. - Significantly increased holdings in Berkshire Hathaway (BRK.B) by 53.53%, making it the second-largest position (17.78%). In the current market, this reflects a preference for a safer haven with higher certainty. - Reduced positions in Alibaba (BABA) and Nvidia (NVDA) by over 25%. In contrast, he maintained his position in Pinduoduo (PDD) and initiated a new position in semiconductor monopoly ASML (ASML). Duan Yongping's success is not replicable. His core investment philosophy is simple: buying stocks is buying companies. He never tries to appear smart through frequent trading—he only earns money he understands. From his recent portfolio adjustments, we can see his calmness and restraint during the high points of the US stock market. He would rather forgo some quick profits to make his asset structure more stable.