H&H International Investment (Duan Yongping)

Q4 was Duan's first major Apple trim in years — shares -7% but the position is so large (60% → 50% of book) that even small share moves shift the concentration. Nvidia exploded +1111% in shares (from a tiny 0.8% sleeve to a 7.7% real position), Microsoft +208%, TSMC +371%. Duan running a full mega-cap-tech build-out alongside the slow Apple right-sizing.

• ★ HELD
  APPLE INC AAPL

  Cut -7% in shares — even the small trim is news because Duan rarely sells Apple. Weight 60% → 50%; still the dominant position at +122% unrealized.

• ▲ ADDED
  NVIDIA CORPORATION NVDA

  Shares +1111% — building from a token 0.8% sleeve to a real 7.7% position in one quarter. Aggressive AI conviction add.

• ★ HELD
  ALPHABET INC GOOG

  29 quarters held at +117% unrealized — the quiet quality compounder anchor.

• ▲ ADDED
  MICROSOFT CORP MSFT

  Shares +208% — MSFT brought up to a real 2.4% weight; part of the mega-cap-tech diversification away from Apple-only.

• ▲ ADDED
  TAIWAN SEMICONDUCTOR MFG LTD TSM

  Shares +371% — TSMC scaled to 2.1%, the foundry play alongside the NVDA bet.

• ◐ CONCENTRATION

  Top-3 weight 86% → 79% — first meaningful de-concentration of the Duan book in many quarters.