Duan Yongping's latest stock holdings—after taking a look around, I can sum it up in just two words: conflicting. On the U.S. stock side, he's reducing positions. In Q2, he cut Nvidia by 54%, Google by 47%, and Apple's position dropped from a peak of 80% to 41%. He completely exited TSMC. He once said: 'Apple isn't cheap anymore.' But on the other side, he's increasing positions. On September 28, at 1,230.85 yuan per share, he bought 30,000 shares of Moutai, spending 36.92 million yuan. This marks his third public increase in Moutai holdings this year. He's also buying Pop Mart, with his Hong Kong stock holdings already reaching disclosure levels. A man dubbed 'China's Buffett'— selling U.S. stocks while buying Chinese assets. What's even more interesting is what he said: 'I only have three heavy positions: Apple, Moutai, Tencent.' Apple is being reduced. Moutai is being increased. Tencent—he didn't say it's being reduced. Think about it. Really think about it.