It should be Apple, PDD, Maotai for the rmb assets (capital controls), Tencent. He mentioned last month before the China surge that he tried to buy PDD and Tencent heavily. He does sell puts/covered calls with Apple at specific times.
There's a lot outside of H&H, as that is just one holding vehicle. In 2018 he said Apple was 90% of his assets, I presume not including the PDD angel ownership which was 3.77% in 2020, minus dilution.
Anyway the reason I made this was I recently heard about the scenario I alluded to the OP: a successful entrepreneur/investor's mother copied Duan rigidly for many years and has killed the former's own good returns. That got me thinking, both for myself and what I recommend to friends who ask for advice.
Fair, guess I need to be more active!
He was an extremely famous Chinese entrepreneur before investing so he was able to meet with Ding Lei through that. A young Colin Huang was introduced to him after that, but Duan basically handpicked, mentored and invested in Huang, even giving him key access to his own company (BBK's) resources long before PDD. That kind of selection and mentoring is a huge avenue for value-add. Kind of like what Charlie did with Li Lu, but ideally earlier on before they even had a chance to prove themselves.