What if you had copied H&H International Investment?
Duan Yongping
The verdict
Copying H&H International Investment's 13F filings from Feb 2020 would have turned $10,000 into $36,417, more than the S&P 500 did.
The S&P 500 turned the same $10,000 into $24,522 over the same days. The copy returned +21.2% a year against +14.3% for the S&P 500, 6.9 points a year ahead. Its worst fall was 27.3%, from Feb 19, 2020 to Mar 23, 2020. The S&P 500's worst fall over the test was 33.7%.
Copied Feb 19, 2020 to Nov 9, 2026 · SEC 13F filings and daily closes
What $10,000 became
- Copying H&H International Investment$36,417
- S&P 500$24,522
- Bought their first portfolio and never traded$36,623
If you had bought their first portfolio and never traded, you would have ended at $36,623, so following every move cost $206.
- $10,000 copied
- $36,417
- +264.2%, +21.2% a year
- In the S&P 500
- $24,522
- +145.2%, +14.3% a year
- No trading
- $36,623
- Bought their first portfolio and never traded
- Worst fall
- −27.3%
- Feb 19, 2020 to Mar 23, 2020
- Trades
- 66
- 42 buys, 24 sales over 27 filings; about 27% of the copy traded a year
The moves that made the most
- AAPLApple+$19,954
Held since Feb 2020, the stock up 349%
- BRK.BBerkshire Hathaway+$4,487
Held since Feb 2020, the stock up 151%
- GOOGAlphabet+$1,381
Held since Feb 2020, the stock up 280%
- AMZNAmazon.com+$379
Held from Feb 2020 to May 2021, the stock up 49%
- DISWalt Disney+$230
Held since May 2020, the stock up 5%
- BACBank of America+$192
Held from May 2020 to Nov 2024, the stock up 166%
The moves that cost the most
- PDDPdd Holdings−$811
Held since Feb 2020
Held from Nov 2021 to May 2023, the stock down 75%
Held since Feb 2026
- JOYY−$95
Held from Feb 2021 to May 2024, the stock down 74%
- TSLATesla−$95
Held since May 2026, the stock down 9%
- MRNAModerna−$28
Held from Feb 2022 to Aug 2025, the stock down 80%
Year by year
| Year | Copy | S&P 500 | Gap, pts |
|---|---|---|---|
| 2020from Feb 2020 | +52.0% | +12.6% | +39.4 |
| 2021 | +33.8% | +28.7% | +5.0 |
| 2022 | −21.2% | −18.2% | −3.0 |
| 2023 | +40.7% | +26.2% | +14.5 |
| 2024 | +29.0% | +24.9% | +4.1 |
| 2025 | +9.2% | +17.7% | −8.6 |
| 2026to Nov 2026 | +14.8% | +11.5% | +3.3 |
A historical test on paper, before costs and taxes. It trades at the close of the first trading day after each filing comes out, up to 45 days after the quarter, and skips delisted companies, which flatters it.