Key Takeaways:
- H&H International cut Nvidia 54.63% and Alphabet 46.88% in Q2 2026.
- The fund added Pinduoduo 26.71% and opened a new Alibaba position.
- Portfolio value fell to $19.1 billion from about $20 billion in Q1.
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Duan Yongping's H&H cuts Nvidia 55%, Alphabet 47% in Q2 2026
Duan Yongping's H&H International cut its Nvidia stake 54.63% and Alphabet 46.88% in Q2 2026, per a 13F filing.
The filing, submitted to the SEC on Aug. 14, shows the fund's portfolio value fell to $19.1 billion from about $20 billion at the end of Q1. H&H reduced its Nvidia position by 7.56 million shares to about 6.3 million shares worth $1.26 billion, and trimmed Alphabet Class C by 1.74 million shares to about 1.97 million shares valued at $696 million, or 3.64 percent of the portfolio. Microsoft holdings fell 25.78 percent, while TSMC and CrowdStrike were exited entirely.
Apple remained the top holding at $7.84 billion, or 41.05 percent of the portfolio, followed by Berkshire Hathaway Class B at $4.62 billion (24.18 percent) and Pinduoduo at $1.91 billion (9.99 percent). The fund added 5.27 million Pinduoduo shares, a 26.71 percent increase, and opened a new Alibaba position of about 301,400 shares worth $28.93 million.
The reductions contrast with Berkshire Hathaway, which increased its Alphabet holdings by about 24.54 million Class A and 23.60 million Class C shares in the quarter, making the stock its third-largest investment. Bridgewater also trimmed Alphabet 33.81 percent, favoring broad-market ETFs instead. Alphabet trades at $343.54, a 37.9 percent premium to GuruFocus's GF Value of $249.13, with a price-to-earnings ratio of 17.37 times versus a five-year median of 24.19 times. The company's market capitalization stands at about $4.22 trillion, and 54 gurus hold the stock, with 14 adding and 30 trimming in recent quarters.
Duan, one of Asia's most closely watched investors, has shifted toward value and Chinese consumer names while trimming mega-cap tech. The new Alibaba position points to renewed confidence in Chinese internet stocks, while the Pinduoduo increase reinforces a bullish stance on e-commerce. The fund's pivot reflects a broader rotation among value investors away from high-valuation growth names, and Duan's moves carry outsized weight in Asian markets, where his quarterly filings are widely tracked. Investors will watch H&H's Q3 filing for whether the tech reductions continue, and whether the fund builds out its Alibaba and Pinduoduo positions further.
This article is for informational purposes only and does not constitute investment advice.
