According to Qiaoshui's 13F documents for the fourth quarter, the fund made significant adjustments in Q4, created new positions for 87 stocks, and cleared 85 stocks. Since reopening Nvidia's position in Q3 last year, it has continued to increase its holdings of 220,000 Nvidia shares in the fourth quarter, with a holding ratio of 0.74%. In addition, Qiaoshui also increased its holdings of technology stocks such as Google (GOOG.O), Meta Platforms (META.O), and Cisco (CSCO.O), and reduced its holdings in Pinduoduo (PDD.O), Pepsi (PEP.O), and Walmart (WMT.N). As of the end of Q4, the total volume of holdings increased to US$17.9 billion, an increase of US$1.4 billion over the previous quarter.