The annual portfolio return for 2024 is around 8%, far below expectations. This is mainly due to $PDD(PDD.US) and $Li Auto(LI.US) contributing significantly to negative returns.

Tonight, I will open a new U.S. stock portfolio for 2025, mainly considering the following:

1. Remove Li Auto, continue to hold Pinduoduo and Futu, with a low proportion in Futu, planning to trade when it reaches a new high.

2. The pharmaceutical sector has been bearish for 4 years, remove XBI, focus on holding one high-quality pharmaceutical stock each from China and the U.S., BeiGene and Regeneron. Currently, both are at low positions. The intrinsic value has been increasing, and in the fifth year, the stock price should change, right?

3. The focus in U.S. stocks remains on AI, with slight adjustments. The semiconductor focus is mainly on TSMC, which is still in a trough. Additionally, shifting towards platforms and applications, optimistic about Claude. Overall holdings include Google, Amazon, and Meta. Remove Tesla. Add Salesforce, optimistic about AI's early industrialization in the B2B sector.

A total of 10 stocks.