As the disclosure of US stock institutional investors' 13F positions for the first quarter ended, Duan Yongping and Li Lu's holdings, which have received much attention in the Chinese investment community, came to light one after another. In the first quarter, Duan Yongping carried out a rare round of intensive position adjustments. The H&H International Investment Fund, which is thought to be managed by Duan Yongping, has added positions to Microsoft, Nvidia, and TSMC, increased its holdings in Pinduoduo and reduced its holdings in Alibaba, Google, and Apple, of which Apple holdings were reduced by more than 1 billion US dollars. Li Lu did not buy anything to increase his holdings in the first quarter. Instead, he drastically reduced his holdings of Apple, Google, and Bank of America, the largest stock. It is worth noting that the two major investors invariably sold US stocks net in the first quarter, hoarded cash, or agreed with Buffett that US stocks were overvalued in stages.

As the disclosure of US stock institutional investors' 13F positions for the first quarter ended, Duan Yongping and Li Lu's holdings, which have received much attention in the Chinese investment community, came to light one after another. In the first quarter, Duan Yongping carried out a rare round of intensive position adjustments. The H&H International Investment Fund, which is thought to be managed by Duan Yongping, has added positions to Microsoft, Nvidia, and TSMC, increased its holdings in Pinduoduo and reduced its holdings in Alibaba, Google, and Apple, of which Apple holdings were reduced by more than 1 billion US dollars. Li Lu did not buy anything to increase his holdings in the first quarter. Instead, he drastically reduced his holdings of Apple, Google, and Bank of America, the largest stock. It is worth noting that the two major investors invariably sold US stocks net in the first quarter, hoarded cash, or agreed with Buffett that US stocks were overvalued in stages.