As of the third quarter of 2025, Duan Yongping's total US stock holdings were worth approximately $14.679 billion, with his top ten holdings accounting for 99.51%. He demonstrated an extremely concentrated investment style, even more Buffett-like than Buffett himself: - Apple (AAPL), his absolute ballast, still accounted for 60.42% of his portfolio and was also his most profitable stock. - He significantly increased his holdings in Berkshire Hathaway (BRK.B) by 53.53%, jumping to second place (17.78%), as the market sought a safer haven with greater certainty. - He reduced his holdings in Alibaba (BABA) and Nvidia (NVDA) by over 25%; in contrast, he maintained his holding in Pinduoduo (PDD) and established a new position in semiconductor monopolist ASML (ASML). Duan Yongping's success is not replicable; his core investment philosophy is that buying stocks is buying companies. He never tries to appear smart through frequent trading; he only earns money he understands. His recent portfolio adjustments demonstrate his composure and restraint during the high point of the US stock market, preferring to earn less windfall profits in order to make his asset structure more stable.