H&H International Investment LLC, managed by well-known investor Duan Yongping, disclosed in a second-quarter 2026 13F filing with the SEC that it held stakes in 18 companies worth about $19.101 billion, or roughly 130 billion yuan, at the end of June, down from about $20 billion at the end of Q1. Apple remained the firm's biggest position at about $7.84 billion, or 41.05% of the portfolio, followed by Berkshire Hathaway Class B shares at about $4.62 billion, or 24.18%, and PDD Holdings at about $1.91 billion, or 9.99%. H&H added 5.27 million PDD shares in the quarter, increasing that stake by 26.71% to about 25.02 million shares, and opened a new Alibaba position of roughly 301,400 shares valued at about $28.93 million. The firm sharply cut Nvidia by 7.56 million shares, or 54.63%, reduced Alphabet Class C by about 1.74 million shares, or 46.88%, and trimmed Microsoft by 25.78%, while fully exiting TSMC and CrowdStrike. H&H also reduced Apple by 1.8469 million shares, or 6.38%, although Apple's portfolio weighting rose from 36.72% to 41.05% because of share price gains. The quarter's trading diverged from Berkshire Hathaway's move to add heavily to Alphabet, even as H&H increased its Berkshire Class B position by 81,900 shares. Duan later said in July that he thought he would add more Google and Berkshire and maintain his Nvidia position size, while an August comment criticizing Google's culture fueled debate over whether H&H may revisit the stock in the third quarter. Separate filings showed Bridgewater Associates also cut Google, Nvidia, Amazon, Broadcom and Microsoft in Q2 while increasing S&P 500 ETFs, Newmont, Shell and Petrobras, highlighting broader risk rebalancing away from some richly valued technology stocks.