<p>观察成功的对冲基金经理购买和持有的股票是投资者获取选股思路的好方法。幸运的是，任何持有超过 1 亿美元资产的人都必须向美国证券交易委员会（SEC）披露他们的持股情况，并在季度结束后 45 天将这些信息公开。虽然这并不一定能实时反映这些对冲基金经理的操作，但如果考虑到他们持有这些股票的时间，这可能会提供一些有价值的见解。</p>
<p>我关注的一位亿万富翁对冲基金经理是 Chase Coleman，他管理着 Tiger Global Management。他在一些表现优异的人工智能（AI）股票上投资了大量对冲基金资金，并且长期持有这些公司。我认为投资者应该考虑跟随 Coleman 的做法，购买他所持有的一些相同股票。</p>
<h2>Coleman 近一半的持股集中在五只 AI 股票上</h2>
<p>Coleman 将大量资金集中在少数几只股票上。其中一些最大的股票包括：</p>
<table>
<thead>
<tr>
<th>持股</th>
<th>投资组合百分比</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Meta Platforms</strong>(META -5.00%)</td>
<td>16.5%</td>
</tr>
<tr>
<td><strong>Microsoft</strong>(MSFT -3.58%)</td>
<td>8.5%</td>
</tr>
<tr>
<td><strong>Alphabet</strong>(GOOG -3.21%)(GOOGL -3.43%)</td>
<td>7.4%</td>
</tr>
<tr>
<td><strong>Amazon</strong>(AMZN -3.92%)</td>
<td>5.3%</td>
</tr>
<tr>
<td><strong>Nvidia</strong>(NVDA -7.03%)</td>
<td>4.9%</td>
</tr>
</tbody>
</table>
<p>数据来源：Hedge Follow。</p>
<p>总的来说，这占他投资组合的 42.6%，显然他专注于这些大型科技 AI 公司。这些股票也不是他随意交易的，而是他在 2024 年末持有的股票。过去几年，他基本上保持着相同数量的股份，这在 2024 年是一个很好的策略。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/d13dfcc56aaa0b3b9899201a2f8e3a58.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/d13dfcc56aaa0b3b9899201a2f8e3a58.png"/></p>
<p>NVDA 数据来源于 YCharts</p>
<p>然而，最近市场对这五家公司开始产生负面情绪，每只股票的价格都比 2 月份创下的历史高点下跌了约 20%。</p>
<p>这种悲观情绪可能源于关税或潜在贸易战带来的经济不确定性。市场担心这可能导致这些公司的基础业务受到影响。如果是这样，他们将没有足够的资金用于 AI 投资，尤其是对 Nvidia（这五家公司中下跌幅度最大）影响较大。</p>
<p>然而，我不认为 AI 支出会受到太大影响，因为这些 AI 巨头无法承受在 AI 竞争中失利的代价。因此，我认为 AI 的盈利机会可能会继续存在，因为 AI 仍能为用户提供巨大的收益。</p>
<p>随着每家公司股价显著下跌，如果你没有像亿万富翁 Chase Coleman 那样对这一群体有显著的投资，现在几乎是开仓的最佳时机。</p>
<h2>这些股票已经很久没有这么便宜了</h2>
<p>由于每家公司都在快速增长，我将使用前瞻市盈率（P/E）来评估这些股票。对于大多数这些股票，你必须回到 2023 年才能找到今天所需支付的相同价格。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1542d9f370faf94442732365871b2af9.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1542d9f370faf94442732365871b2af9.png"/></p>
<p>NVDA 前瞻市盈率数据来源于 YCharts</p>
<p>然而，一些股票，如 Amazon 和 Alphabet，在 2023 年初甚至没有这么便宜，当时市场对即将到来的衰退感到担忧。所有这些都表明，市场目前极为悲观，这为长期投资者提供了一个很好的入场点。</p>
<p>投资者必须问的最大问题是：今天的事件会在未来三到五年内影响这些股票吗？如果答案是肯定的，你需要更多思考。如果答案是否定的（我认为这是正确的答案），那么今天看起来是一个很好的买入机会，因为这些 AI 公司所面临的顺风因素在未来几年内可能不会减弱。</p>

谷歌-C

谷歌-A

英伟达

META

<p>亿万富翁对冲基金经理 Chase Coleman 在五大主要人工智能股票上进行了大量投资，这些股票占其投资组合的 42.6%。这些股票包括 Meta Platforms、Microsoft、Alphabet、Amazon 和 Nvidia。尽管最近市场出现下跌，Coleman 仍然保持其持仓，表明其采取了长期策略。目前的悲观情绪为投资者提供了潜在的买入机会，因为这些股票的价格比 2023 年初更便宜。分析师认为，持续的人工智能军备竞赛将继续推动增长，使得现在成为投资这些公司的有利时机</p>

<p>Looking at what successful hedge fund managers buy and hold is a great way for investors to drum up ideas about which stocks to pick. Fortunately, anyone with over $100 million in holdings must disclose what they own to the SEC, then they make that information public knowledge 45 days after the quarter ends. While this isn't necessarily a real-time view into what these hedge fund managers are doing, if you consider how long they've held the stocks, it could provide some valuable insights.</p>
<div class="lb-trans"><p>观察成功的对冲基金经理购买和持有的股票是投资者获取选股思路的好方法。幸运的是，任何持有超过 1 亿美元资产的人都必须向美国证券交易委员会（SEC）披露他们的持股情况，并在季度结束后 45 天将这些信息公开。虽然这并不一定能实时反映这些对冲基金经理的操作，但如果考虑到他们持有这些股票的时间，这可能会提供一些有价值的见解。</p>
</div><p>One billionaire hedge fund manager I follow is Chase Coleman, who runs Tiger Global Management. He has invested a significant amount of his hedge fund's money in some top-performing artificial intelligence (AI) stocks and has held these companies for a long time. I think investors should consider following Coleman's approach and buying some of the same stocks that he is holding.</p>
<div class="lb-trans"><p>我关注的一位亿万富翁对冲基金经理是 Chase Coleman，他管理着 Tiger Global Management。他在一些表现优异的人工智能（AI）股票上投资了大量对冲基金资金，并且长期持有这些公司。我认为投资者应该考虑跟随 Coleman 的做法，购买他所持有的一些相同股票。</p>
</div><h2>Coleman has nearly half of his holdings in five AI stocks</h2>
<div class="lb-trans"><h2>Coleman 近一半的持股集中在五只 AI 股票上</h2>
</div><p>Coleman has a massive amount of his fund wrapped up in just a handful of stocks. Some of the biggest ones are:</p>
<div class="lb-trans"><p>Coleman 将大量资金集中在少数几只股票上。其中一些最大的股票包括：</p>
</div><table>
<thead>
<tr>
<th>Holding</th>
<th>Percent of Portfolio</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Meta Platforms</strong>(META -5.00%)</td>
<td>16.5%</td>
</tr>
<tr>
<td><strong>Microsoft</strong>(MSFT -3.58%)</td>
<td>8.5%</td>
</tr>
<tr>
<td><strong>Alphabet</strong>(GOOG -3.21%)(GOOGL -3.43%)</td>
<td>7.4%</td>
</tr>
<tr>
<td><strong>Amazon</strong>(AMZN -3.92%)</td>
<td>5.3%</td>
</tr>
<tr>
<td><strong>Nvidia</strong>(NVDA -7.03%)</td>
<td>4.9%</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th>持股</th>
<th>投资组合百分比</th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Meta Platforms</strong>(META -5.00%)</td>
<td>16.5%</td>
</tr>
<tr>
<td><strong>Microsoft</strong>(MSFT -3.58%)</td>
<td>8.5%</td>
</tr>
<tr>
<td><strong>Alphabet</strong>(GOOG -3.21%)(GOOGL -3.43%)</td>
<td>7.4%</td>
</tr>
<tr>
<td><strong>Amazon</strong>(AMZN -3.92%)</td>
<td>5.3%</td>
</tr>
<tr>
<td><strong>Nvidia</strong>(NVDA -7.03%)</td>
<td>4.9%</td>
</tr>
</tbody>
</table>
</div><p>Data source: Hedge Follow.</p>
<div class="lb-trans"><p>数据来源：Hedge Follow。</p>
</div><p>Altogether, that accounts for 42.6% of his portfolio, so it's clear that he's focusing on these big tech AI players. These also aren't stocks that he's trading in and out of and just happened to hold at the end of Q4. Over the past years, he has basically held onto the same number of shares he's always had, which was a great strategy in 2024.</p>
<div class="lb-trans"><p>总的来说，这占他投资组合的 42.6%，显然他专注于这些大型科技 AI 公司。这些股票也不是他随意交易的，而是他在 2024 年末持有的股票。过去几年，他基本上保持着相同数量的股份，这在 2024 年是一个很好的策略。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/d13dfcc56aaa0b3b9899201a2f8e3a58.png" alt="" original-src="https://media.ycharts.com/charts/d13dfcc56aaa0b3b9899201a2f8e3a58.png"/></p>
<p>NVDA data by YCharts</p>
<div class="lb-trans"><p>NVDA 数据来源于 YCharts</p>
</div><p>However, the market has started to sour on these five companies lately, and each is down around 20% from its all-time highs established in February.</p>
<div class="lb-trans"><p>然而，最近市场对这五家公司开始产生负面情绪，每只股票的价格都比 2 月份创下的历史高点下跌了约 20%。</p>
</div><p>The pessimism likely comes from economic uncertainty caused by tariffs or a potential trade war. The market is worried that it could cause these companies' base businesses to struggle. If so, they won't have as many excess funds to spend on AI, disproportionately affecting Nvidia (which is down the most of these five).</p>
<div class="lb-trans"><p>这种悲观情绪可能源于关税或潜在贸易战带来的经济不确定性。市场担心这可能导致这些公司的基础业务受到影响。如果是这样，他们将没有足够的资金用于 AI 投资，尤其是对 Nvidia（这五家公司中下跌幅度最大）影响较大。</p>
</div><p>However, I don't expect AI spending to be affected much because the AI arms race is one these AI hyperscalers can't afford to lose. As a result, I think the AI gravy train will likely continue, as there are massive gains that AI can still provide to users.</p>
<div class="lb-trans"><p>然而，我不认为 AI 支出会受到太大影响，因为这些 AI 巨头无法承受在 AI 竞争中失利的代价。因此，我认为 AI 的盈利机会可能会继续存在，因为 AI 仍能为用户提供巨大的收益。</p>
</div><p>With each company down markedly, if you don't have significant exposure to this cohort like billionaire Chase Coleman, there have seldom been better times to open a position than now.</p>
<div class="lb-trans"><p>随着每家公司股价显著下跌，如果你没有像亿万富翁 Chase Coleman 那样对这一群体有显著的投资，现在几乎是开仓的最佳时机。</p>
</div><h2>These stocks haven't been this cheap in a while</h2>
<div class="lb-trans"><h2>这些股票已经很久没有这么便宜了</h2>
</div><p>Because each company is growing rapidly, I'm going to use the forward price-to-earnings (P/E) ratio to value the stocks. For most of these stocks, you have to rewind back to 2023 to get the same price that you have to pay for them today.</p>
<div class="lb-trans"><p>由于每家公司都在快速增长，我将使用前瞻市盈率（P/E）来评估这些股票。对于大多数这些股票，你必须回到 2023 年才能找到今天所需支付的相同价格。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1542d9f370faf94442732365871b2af9.png" alt="" original-src="https://media.ycharts.com/charts/1542d9f370faf94442732365871b2af9.png"/></p>
<p>NVDA PE Ratio (Forward) data by YCharts</p>
<div class="lb-trans"><p>NVDA 前瞻市盈率数据来源于 YCharts</p>
</div><p>However, some stocks, like Amazon and Alphabet, weren't even this cheap at the start of 2023, when the market was worried about an impending recession. All of this indicates that the market is extremely pessimistic right now, which gives long-term investors a great entry point.</p>
<div class="lb-trans"><p>然而，一些股票，如 Amazon 和 Alphabet，在 2023 年初甚至没有这么便宜，当时市场对即将到来的衰退感到担忧。所有这些都表明，市场目前极为悲观，这为长期投资者提供了一个很好的入场点。</p>
</div><p>The biggest question investors must ask is: Will today's events affect these stocks three to five years down the road? If the answer is yes, you'll have to do more thinking. If the answer is no (which I think is the correct answer), then today looks like a great buying opportunity, as the tailwinds that these AI companies are experiencing likely won't ease up too much over the next few years.</p>
<div class="lb-trans"><p>投资者必须问的最大问题是：今天的事件会在未来三到五年内影响这些股票吗？如果答案是肯定的，你需要更多思考。如果答案是否定的（我认为这是正确的答案），那么今天看起来是一个很好的买入机会，因为这些 AI 公司所面临的顺风因素在未来几年内可能不会减弱。</p>
</div>

5 Brilliant AI Stocks That Billionaire Chase Coleman Is Betting Big On

- 对冲基金经理的持股情况为投资者提供选股思路。  
- Chase Coleman 的投资集中在五只人工智能股票上，占其投资组合的 42.6%。  
- 当前市场对这些股票的悲观情绪为长期投资者提供了良好的买入机会。

亿万富翁 Chase Coleman 重仓押注的 5 只优秀 AI 股票