How Duan Yongping Built a Multi-Billion Dollar US Stock Portfolio Centered on Apple

Born March 10, 1961, in Nanchang, Jiangxi Province, China, Duan Yongping has established himself as one of the world’s most accomplished entrepreneurs and investors. His journey from pioneering consumer electronics companies to dominating the global investment landscape represents a masterclass in strategic vision and disciplined capital allocation. Today, through his H&H International Investment company, Duan Yongping commands a diversified portfolio valued at approximately $16.6 billion as of Q2 2024, making him one of Asia’s most influential players in American equity markets.

From Smartphone Pioneer to Value Investor: The Business Genesis of Duan Yongping

Duan Yongping’s early career demonstrated an exceptional talent for identifying market opportunities and scaling enterprises. He founded and developed Subor and BBK Electronics into industry leaders, before moving on to co-establish OPPO and vivo—two brands that would reshape the global smartphone market. These companies not only captured substantial market share in China but also built formidable user bases across international markets, establishing Duan Yongping as a technology entrepreneur of legendary status.

However, it was Duan Yongping’s transition into professional investing that would cement his reputation as a master capital allocator. His commitment to education and social progress—demonstrated through over 1 billion yuan in donations to Zhejiang University—reveals a deeper philosophy: that wealth creation must be matched by societal contribution. This values-driven approach extends to his investment methodology as well.

Duan Yongping’s Investment Philosophy: Patience, Diversification, and Long-Term Value

The turning point in Duan Yongping’s investment career came in 2001 when he identified NetEase as a grossly undervalued asset. This singular conviction—coupled with his willingness to hold through market volatility—generated returns exceeding 100x, transforming him into a legendary figure within investment circles. This success was not luck but rather a reflection of his sophisticated approach to value investing: discovering high-quality enterprises trading below intrinsic value and maintaining positions through extended holding periods.

Duan Yongping’s investment philosophy centers on three core principles: identifying genuinely superior businesses, buying at rational prices, and exercising extraordinary patience. Rather than chasing market trends, he scrutinizes company fundamentals, competitive moats, and long-term growth trajectories. This disciplined methodology has proven remarkably effective across market cycles and macroeconomic shifts.

Portfolio Breakdown: How Duan Yongping Allocates $16.6 Billion Across Nine US Stocks

As of Q2 2024, Duan Yongping’s investment portfolio encompasses nine US-listed stocks spanning multiple economic sectors. Technology giant Apple represents the cornerstone of his holdings, accounting for 80.95% of his total portfolio value—approximately $13.46 billion. This concentration reflects Duan Yongping’s exceptional confidence in Apple’s competitive positioning, innovation capacity, and cash generation capabilities.

Beyond Apple, Duan Yongping’s portfolio reveals a carefully structured diversification strategy across complementary sectors:

• Technology: Apple (primary position), Google Class C shares, Alibaba
• Financial Services: Berkshire Hathaway Class B shares, Bank of America
• Energy & Commodities: Occidental Petroleum
• Healthcare/Biotechnology: Moderna
• Consumer/Retail: Disney, Pinduoduo

This sectoral allocation demonstrates that while Duan Yongping remains fundamentally bullish on technology’s long-term trajectory, he recognizes that truly diversified wealth requires exposure across uncorrelated asset classes. Energy, financial intermediaries, and healthcare companies provide defensive characteristics and inflation hedges that complement tech sector volatility.

Strategic Shifts in Q2 2024: Duan Yongping’s Portfolio Adjustments and Market Insights

During the second quarter of 2024, Duan Yongping executed meaningful portfolio adjustments that reveal his real-time market assessment. He reduced positions in Apple, Berkshire Hathaway Class B, Google Class C, Disney, Pinduoduo, and Bank of America. These tactical retreats, particularly in tech holdings, likely reflect Duan Yongping’s prudent risk management in response to elevated valuations and potential market headwinds.

Simultaneously, Duan Yongping increased allocations to Alibaba and Occidental Petroleum, signaling renewed conviction in Chinese e-commerce recovery and energy sector fundamentals. The unchanged position in Moderna indicates sustained confidence in biotechnology’s secular growth drivers and the company’s pipeline potential.

These adjustments encapsulate Duan Yongping’s investment philosophy in practice: maintaining sufficient portfolio stability through core positions (Apple remains 80.95% of holdings) while actively rebalancing peripheral holdings based on shifting valuations and macro conditions. Rather than market timing, these moves reflect calculated, disciplined rebalancing—exactly the methodology that generated 100x returns from his NetEase investment decades earlier.

The enduring success of Duan Yongping’s investment approach confirms that fortune favors the disciplined. Through a combination of philosophical rigor, sector diversification, and the patience to hold exceptional businesses through cycles, Duan Yongping has constructed an investment empire that serves as a template for serious wealth builders seeking stable, long-term capital appreciation.