--- title: "🔥📊 Yesterday, both Buffett and Duan Yongping adjusted their portfolios in sync: The AI theme is be" description: "🔥📊 Yesterday, both Buffett and Duan Yongping adjusted their portfolios in sync: The AI theme is becoming "institutionalized and concentrated."In the latest disclosed holdings from yesterday," type: "topic" locale: "en" url: "https://longbridge.com/en/topics/38784293.md" published_at: "2026-02-19T12:45:37.000Z" author: "[辰逸](https://longbridge.com/en/profiles/16318663)" --- # 🔥📊 Yesterday, both Buffett and Duan Yongping adjusted their portfolios in sync: The AI theme is be 🔥📊 Yesterday, both Buffett and Duan Yongping adjusted their portfolios in sync: The AI theme is becoming "institutionalized and concentrated." In the latest disclosed holdings from yesterday, there's a signal more important than price movements— Big money is converging, not dispersing. I'll talk about the commonalities first, then the divergences. First, commonality: Both Buffett and Duan Yongping hold Google. This in itself isn't surprising, but in the current AI competitive landscape, it looks more like a bet on "underlying computing power + data gateway." Google isn't just search; it's: AI foundational models Cloud computing An advertising cash flow machine It belongs to "deterministic infrastructure assets," not high-volatility themes. Second, commonality: Both reduced their positions in Apple, but it remains their largest holding. This looks more like a structural rebalancing, not a trend of bearishness. Apple is already a super cash flow asset; reducing the position is more about portfolio management than a shift in logic. What's really worth dissecting is the divergence. Duan Yongping significantly increased his position in $NVIDIA(NVDA.US), directly elevating it to his third-largest holding, just behind Apple and Berkshire. This isn't a tactical trade; it's a strategic bet. When a long-term investor who emphasizes "circle of competence" actively pulls Nvidia into his core portfolio tier, it shows he already sees it as a representative of "AI infrastructure pricing power." Looking at the new additions: $Coreweave(CRWV.US) $ASML(ASML.US)(ASML.US)(ASML.US) $Tempus AI(TEM.US) The commonality of these three is: they are all deeply related to the AI or semiconductor chain, but at different levels— $ASML(ASML.US)(ASML.US)(ASML.US) is the equipment leader $Coreweave(CRWV.US) is related to computing power/cloud $Tempus AI(TEM.US) leans towards medical AI data This isn't random position building; it's a layout around the upstream and application ends of AI. Looking at the institutional level. Bridgewater and Baillie Gifford also increased their positions in $NVIDIA(NVDA.US). When two types of institutions with vastly different styles simultaneously increase their bets on the same asset, it usually indicates: Not emotion-driven, but trend confirmation. They aren't betting on "how much it will rise," but on "the sustainability of AI capital expenditure." SoftBank's moves are even more contrasting. Q4 liquidation of $NVIDIA(NVDA.US) was interpreted by the market as a shift of funds towards OpenAI. But at the same time, they built a position in Circle. This represents another line of thinking— Not betting on computing power, but betting on "AI + financial infrastructure." Circle is a stablecoin issuer, essentially the hub for on-chain US dollar liquidity. If the AI economy expands, payment and settlement infrastructure will also become foundational support. So what you're seeing now isn't "who is bullish on AI," but: Funds are beginning to stratify within the AI track. First layer: Deterministic computing power leader — $NVIDIA(NVDA.US) Second layer: Foundational platform — Google Third layer: Equipment chain — $ASML(ASML.US)(ASML.US)(ASML.US) Fourth layer: Application and derivatives — $Tempus AI(TEM.US), $Coreweave(CRWV.US) Fifth layer: Financial infrastructure — Circle The real question isn't "whether to participate in AI," but: Do you value computing power pricing power more, or the speed of application diffusion? More crucially— When institutions are already highly concentrated in Nvidia and Google, is this consensus a safety cushion, or a future crowded trade? ### Related Stocks - [ASML.US - ASML](https://longbridge.com/en/quote/ASML.US.md) - [NVDA.US - NVIDIA](https://longbridge.com/en/quote/NVDA.US.md) - [INTC.US - Intel](https://longbridge.com/en/quote/INTC.US.md) - [BAC.US - Bank of America](https://longbridge.com/en/quote/BAC.US.md) - [GOOG.US - Alphabet - C](https://longbridge.com/en/quote/GOOG.US.md) - [04335.HK - INTEL-T](https://longbridge.com/en/quote/04335.HK.md) - [BAC-B.US - BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG](https://longbridge.com/en/quote/BAC-B.US.md) - [BAC-E.US - BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'](https://longbridge.com/en/quote/BAC-E.US.md) - [BAC-K.US - BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH](https://longbridge.com/en/quote/BAC-K.US.md) - [BAC-L.US - BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L](https://longbridge.com/en/quote/BAC-L.US.md) --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.