<p>觀察成功的對沖基金經理購買和持有的股票是投資者獲取選股思路的好方法。幸運的是，任何持有超過 1 億美元資產的人都必須向美國證券交易委員會（SEC）披露他們的持股情況，並在季度結束後 45 天將這些信息公開。雖然這並不一定能實時反映這些對沖基金經理的操作，但如果考慮到他們持有這些股票的時間，這可能會提供一些有價值的見解。</p>
<p>我關注的一位億萬富翁對沖基金經理是 Chase Coleman，他管理着 Tiger Global Management。他在一些表現優異的人工智能（AI）股票上投資了大量對沖基金資金，並且長期持有這些公司。我認為投資者應該考慮跟隨 Coleman 的做法，購買他所持有的一些相同股票。</p>
<h2>Coleman 近一半的持股集中在五隻 AI 股票上</h2>
<p>Coleman 將大量資金集中在少數幾隻股票上。其中一些最大的股票包括：</p>
<table>
<thead>
<tr>
<th>持股</th>
<th>投資組合百分比</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>數據來源：Hedge Follow。</p>
<p>總的來説，這佔他投資組合的 42.6%，顯然他專注於這些大型科技 AI 公司。這些股票也不是他隨意交易的，而是他在 2024 年末持有的股票。過去幾年，他基本上保持着相同數量的股份，這在 2024 年是一個很好的策略。</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 數據來源於 YCharts</p>
<p>然而，最近市場對這五家公司開始產生負面情緒，每隻股票的價格都比 2 月份創下的歷史高點下跌了約 20%。</p>
<p>這種悲觀情緒可能源於關税或潛在貿易戰帶來的經濟不確定性。市場擔心這可能導致這些公司的基礎業務受到影響。如果是這樣，他們將沒有足夠的資金用於 AI 投資，尤其是對 Nvidia（這五家公司中下跌幅度最大）影響較大。</p>
<p>然而，我不認為 AI 支出會受到太大影響，因為這些 AI 巨頭無法承受在 AI 競爭中失利的代價。因此，我認為 AI 的盈利機會可能會繼續存在，因為 AI 仍能為用户提供巨大的收益。</p>
<p>隨着每家公司股價顯著下跌，如果你沒有像億萬富翁 Chase Coleman 那樣對這一羣體有顯著的投資，現在幾乎是開倉的最佳時機。</p>
<h2>這些股票已經很久沒有這麼便宜了</h2>
<p>由於每家公司都在快速增長，我將使用前瞻市盈率（P/E）來評估這些股票。對於大多數這些股票，你必須回到 2023 年才能找到今天所需支付的相同價格。</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 前瞻市盈率數據來源於 YCharts</p>
<p>然而，一些股票，如 Amazon 和 Alphabet，在 2023 年初甚至沒有這麼便宜，當時市場對即將到來的衰退感到擔憂。所有這些都表明，市場目前極為悲觀，這為長期投資者提供了一個很好的入場點。</p>
<p>投資者必須問的最大問題是：今天的事件會在未來三到五年內影響這些股票嗎？如果答案是肯定的，你需要更多思考。如果答案是否定的（我認為這是正確的答案），那麼今天看起來是一個很好的買入機會，因為這些 AI 公司所面臨的順風因素在未來幾年內可能不會減弱。</p>

谷歌-C

谷歌-A

英偉達

META

<p>億萬富翁對沖基金經理 Chase Coleman 在五大主要人工智能股票上進行了大量投資，這些股票佔其投資組合的 42.6%。這些股票包括 Meta Platforms、Microsoft、Alphabet、Amazon 和 Nvidia。儘管最近市場出現下跌，Coleman 仍然保持其持倉，表明其採取了長期策略。目前的悲觀情緒為投資者提供了潛在的買入機會，因為這些股票的價格比 2023 年初更便宜。分析師認為，持續的人工智能軍備競賽將繼續推動增長，使得現在成為投資這些公司的有利時機</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>觀察成功的對沖基金經理購買和持有的股票是投資者獲取選股思路的好方法。幸運的是，任何持有超過 1 億美元資產的人都必須向美國證券交易委員會（SEC）披露他們的持股情況，並在季度結束後 45 天將這些信息公開。雖然這並不一定能實時反映這些對沖基金經理的操作，但如果考慮到他們持有這些股票的時間，這可能會提供一些有價值的見解。</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>我關注的一位億萬富翁對沖基金經理是 Chase Coleman，他管理着 Tiger Global Management。他在一些表現優異的人工智能（AI）股票上投資了大量對沖基金資金，並且長期持有這些公司。我認為投資者應該考慮跟隨 Coleman 的做法，購買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隻 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 將大量資金集中在少數幾隻股票上。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>投資組合百分比</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>數據來源：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>總的來説，這佔他投資組合的 42.6%，顯然他專注於這些大型科技 AI 公司。這些股票也不是他隨意交易的，而是他在 2024 年末持有的股票。過去幾年，他基本上保持着相同數量的股份，這在 2024 年是一個很好的策略。</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 數據來源於 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，最近市場對這五家公司開始產生負面情緒，每隻股票的價格都比 2 月份創下的歷史高點下跌了約 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>這種悲觀情緒可能源於關税或潛在貿易戰帶來的經濟不確定性。市場擔心這可能導致這些公司的基礎業務受到影響。如果是這樣，他們將沒有足夠的資金用於 AI 投資，尤其是對 Nvidia（這五家公司中下跌幅度最大）影響較大。</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，我不認為 AI 支出會受到太大影響，因為這些 AI 巨頭無法承受在 AI 競爭中失利的代價。因此，我認為 AI 的盈利機會可能會繼續存在，因為 AI 仍能為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>隨着每家公司股價顯著下跌，如果你沒有像億萬富翁 Chase Coleman 那樣對這一羣體有顯著的投資，現在幾乎是開倉的最佳時機。</p>
</div><h2>These stocks haven't been this cheap in a while</h2>
<div class="lb-trans"><h2>這些股票已經很久沒有這麼便宜了</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>由於每家公司都在快速增長，我將使用前瞻市盈率（P/E）來評估這些股票。對於大多數這些股票，你必須回到 2023 年才能找到今天所需支付的相同價格。</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 前瞻市盈率數據來源於 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 年初甚至沒有這麼便宜，當時市場對即將到來的衰退感到擔憂。所有這些都表明，市場目前極為悲觀，這為長期投資者提供了一個很好的入場點。</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>投資者必須問的最大問題是：今天的事件會在未來三到五年內影響這些股票嗎？如果答案是肯定的，你需要更多思考。如果答案是否定的（我認為這是正確的答案），那麼今天看起來是一個很好的買入機會，因為這些 AI 公司所面臨的順風因素在未來幾年內可能不會減弱。</p>
</div>

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

- 對沖基金經理的持股情況為投資者提供選股思路。  
- Chase Coleman 的投資集中在五隻人工智能股票上，佔其投資組合的 42.6%。  
- 當前市場對這些股票的悲觀情緒為長期投資者提供了良好的買入機會。

億萬富翁 Chase Coleman 重倉押注的 5 只優秀 AI 股票