Duan Yongping tests "AI trading": "heavily increases" Nvidia, "newly enters" CoreWeave, Credo, and Tempus, "slashes" Apple.

Duan Yongping tests "AI trading": "heavily increases" Nvidia, "newly enters" CoreWeave, Credo, and Tempus, "slashes" Apple.

```

While significantly reducing holdings in his top stock, Apple, renowned investor Duan Yongping boosted his position in Nvidia by more than 11 times in Q4, and also took light positions to “test the waters” in three highly representative AI vertical companies.

Data shows that Duan Yongping increased holdings in six stocks during Q4, with Nvidia seeing the largest increase, followed by Berkshire Hathaway. Simultaneously, he reduced holdings in five stocks, with Apple seeing the largest reduction.

This value-investing heavyweight, known for his major holdings of NetEase, Kweichow Moutai, and Apple, is using real capital to build deep positions for the age of artificial intelligence.

“Aggressively adding” Nvidia, “new entry” into CoreWeave, Credo, and Tempus

Documents reveal that Duan Yongping increased his Nvidia position by 6.6393 million shares in Q4, a surge of 1110.62%, bringing his total Nvidia shares to 7.2371 million and portfolio market value to US$1.35 billion, making Nvidia his third largest holding (7.72% of portfolio).

Beyond the heavy bet on “pick-and-shovel” leader Nvidia, Duan Yongping opened positions in three “new faces.” The combined share of these positions is only about 0.28%, but the stock-picking logic is highly sophisticated, precisely covering the three key points in the AI industry chain: computing power, connectivity, and applications:

  • CoreWeave: the “landlord” of computing power leasing
    Initiated a position of 299,900 shares. In an environment where all giants are scrambling for GPUs, CoreWeave doesn’t produce models but builds high-performance GPU clusters to lease to enterprises. This is a typical “pick-and-shovel” company: while facing heavy assets and high depreciation pressures, it holds strong pricing power during periods of computing power scarcity.
  • Credo Technology: the “express highway” for data centers
    Initiated a position of 141,300 shares. If GPUs are the heart, the high-speed interconnect chips and optical modules provided by Credo are the blood vessels. AI server clusters require extremely high data transmission speeds; Duan Yongping’s move here bets on the deterministic incremental change from data center upgrades. It’s an “attached investment,” closely tied to AI server iteration.
  • Tempus AI: “practical experiments” in AI-powered healthcare
    Initiated a position of 110,000 shares. Unlike the previous two hardware-oriented companies, Tempus focuses on applying AI to precision oncology. This represents Duan Yongping’s attempt at AI in vertical application layers. However, the medical industry faces strict regulation and long cycles; although this is the ultimate direction for AI to shift from “computing power” to “productivity,” its profitability remains unproven and is more of an endurance race.

Reducing Apple, increasing Berkshire Hathaway

While ramping up on AI, Duan Yongping also significantly rebalanced traditional “ballast” holdings.

In Q4, Apple remained his number one holding, with a market value of US$8.797 billion, accounting for 50.3% of his portfolio. However, he sold 2.4706 million shares of Apple in Q4, a reduction of 7.09%. This move may have been for risk control due to overconcentration in a single asset, or to free up capital for more AI investments.

Meanwhile, as a defensive asset, Berkshire Hathaway B shares saw a significant increase. Duan Yongping bought nearly 1.985 million shares, an increase of 38.24%, keeping it firmly as his second largest holding (20.63% of portfolio). This “left hand for tech growth, right hand for defensive value” structure remains the cornerstone of his investment portfolio.

In addition, Duan Yongping increased holdings in Google and Pinduoduo, and sharply reduced his holdings in lithography giant ASML (down 87.63%), reflecting his differentiated view of future growth potential among various tech giants.

Risk Warning and DisclaimerThe market carries risks; investment requires caution. This article does not constitute personal investment advice, nor does it take into account individual users' specific investment objectives, financial situations, or needs. Users should consider whether any opinions, perspectives, or conclusions in this article are suitable for their own circumstances. Investments based on this are at one's own risk. ```