H&H International Investment, the fund managed by influential value investor Duan Yongping, initiated a $1.27 billion stake in Tesla in the first quarter, according to its latest 13F filing. The May 19 disclosure also revealed a significant increase in the firm's Nvidia and Pinduoduo holdings.
Duan, who has previously expressed admiration for Tesla's products, had noted a shift in his views on the company. "My opinion of Musk himself has not changed much, but his products are indeed remarkable," Duan stated in a February social media post, specifically citing the company's Full Self-Driving technology.
The filing details a series of high-conviction moves in the fund's $20 billion portfolio.
The portfolio shows a strategy of heavy concentration, with the top five holdings—Apple, Berkshire Hathaway, Nvidia, Pinduoduo, and Tesla—now accounting for 86% of its total value. The increased Pinduoduo stake was mirrored by NetEase founder Ding Lei, another early investor in the e-commerce giant. H&H also made a small, new investment in stablecoin issuer Circle, a company that has also attracted recent investment from Cathie Wood's ARK Invest.
The aggressive shift into AI-related companies like Tesla and Nvidia, while trimming the long-held Apple investment, suggests a strategic pivot toward the market's next growth phase. Investors will watch the firm's Q2 filing in August for signs of continuation in these high-conviction bets or further changes in its core positions.
This article is for informational purposes only and does not constitute investment advice.
