Duan Yongping
"Buying a stock is buying a business." Concentrates only within his circle of competence, then holds nearly forever. Emphasizes integrity, equanimity, and that a stop-doing list beats a to-do list.
Founder of Subor and BBK, and the man behind the OPPO and vivo phone brands. After moving to the U.S. in 2001 he became a full-time investor through H&H International Investment. A devoted student of Buffett, he brought value investing wholesale into the Chinese context and, posting on Xueqiu as 大道无形我有名，shaped a generation of Chinese investors.
U.S. holdings are disclosed via H&H International Investment's 13F (≈45-day lag; auto-refreshed here). Large HK stakes (e.g. the May-2026 Pop Mart filing at 5.69%) surface via HKEX disclosure of interests; A-shares (Moutai) and his Xueqiu posts are outside the 13F and curated manually. His reasoning is on Xueqiu under 大道无形我有名。
Holdings & weights
Q2 2026 · 13F (as of 30 Jun 2026)Weights are by market value, from real 13F / daily disclosure. This is a snapshot and will change — see live: Live 13F weights & activity on dataroma
His long-time #1 — the canonical "understand it, then hold" thesis.
Analyze through a master's lensA long-held core position; regards Buffett as his mentor and once won the charity lunch.
Analyze through a master's lensAn early private backer, close to founder Colin Huang; a long-term public holding.
Analyze through a master's lensAn AI position he's aggressively built over the past two years.
Analyze through a master's lensA tech holding; believes in its search and cash-flow dominance.
Analyze through a master's lensIn May 2026, HKEX filings showed his concert-party stake reaching ~5.69% — its second-largest holder (~HK$11.8bn). He'd said he "didn't understand it," then reversed and bought, calling founder Wang Ning "on Steve Jobs's level." HK-listed, not in the U.S. 13F.
Analyze through a master's lensA long-term conviction A-share — pricing power + culture moat. Not in the U.S. 13F.
Analyze through a master's lensBought below $1 in 2001–02 for 100x+ — the trade that made his name.
Analyze through a master's lensCredo Technology Group Holdi −7%, United Health Group Inc. −34%, Walt Disney Co. +13%, new Alibaba Group Holdings.
In their own words
Do the right things, then do things right. The stop-doing list comes first.
Buying a stock is buying a business — its discounted future cash flow. The rest is noise.
If you don't understand it, don't do it. You'll only ever understand a few — and that's enough.
Where to follow them
Primary sources. Read the original — don't settle for second-hand summaries.
Run any stock you care about through the "Value · Circle of Competence" lens.
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