三季度“冠军基”重仓股出炉！持续超配算力板块看好AI未来增长

智通财经网2025-10-28

智通财经APP获悉，10月28日，普通股票型、偏股混合型、灵活配置型基金的三季度业绩冠军均披露了三季报，分别由财通集成电路产业A、恒越优势精选、财通多策略福鑫摘得。总体看，它们均在海外算力、半导体等科技板块进行了配置。分别来看，财通基金旗下两只基金均由金梓才管理，他在三季度超配了光通信板块，并继续大幅加配海外算力板块。财通多策略福鑫报告显示，截至报告期末，财通福鑫定开混合发起基金份额净值为...

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The continued overweight computing power sector is optimistic about the future growth of AI","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"300308":1,"300433":1,"300475":1,"300502":1,"301377":1,"600183":1,"601138":1,"601208":1,"688012":1,"688183":1,"002916":1,"002384":1,"001309":1,"002080":1,"002463":1,"AI":0.72},"content_text":"智通财经APP获悉，10月28日，普通股票型、偏股混合型、灵活配置型基金的三季度业绩冠军均披露了三季报，分别由财通集成电路产业A、恒越优势精选、财通多策略福鑫摘得。总体看，它们均在海外算力、半导体等科技板块进行了配置。分别来看，财通基金旗下两只基金均由金梓才管理，他在三季度超配了光通信板块，并继续大幅加配海外算力板块。财通多策略福鑫报告显示，截至报告期末，财通福鑫定开混合发起基金份额净值为3.9940元，报告期内，基金份额净值增长率为91.24%，同期业绩比较基准收益率为9.26%。持仓上，金梓才对算力题材的信心很足。生益科技、中际旭创、生益电子、深南电路等几大重仓股的季末持仓市值占基金净值比例均在9%以上。对比二季度末持仓数据来看，该基金三季度新进重仓了生益科技、深南电路、沪电股份、中材科技、鼎泰高科。金梓才表示，站在2025年三季度当下，海外AI的增长确定性比之前更高，增长的斜率也有所提升，他预期2026年和2027年海外算力需求的增长可能更快，海外算力板块的基本面依旧强劲。在持仓板块上，他做出了一定调整。相比一个季度前，他认为市场严重低估了光通信板块的基本面，所以给予了大幅超配。他认为，随着海外算力板块在三季度的大幅上涨，这一部分认知差已逐渐消除，相信一线光通信企业仍然具备较为显著的投资价值。金梓才管理的另一只冠军基金中，财通集成电路产业A表现同样亮眼，以86.49%的季度净值增长率录得三季度普通股票型基金业绩冠军。该基金重仓股调整明显，工业富联、生益电子、中际旭创、新易盛均较二季度加仓。截至三季度末，该基金的前十大重仓股分别为工业富联(601138.SH)、生益科技(600183.SH)、生益电子(688183.SH)、中际旭创(300308.SZ)、、深南电路(002916.SZ)、沪电股份(002463.SZ)、、中材科技(002080.SZ)、鼎泰高科(301377.SZ)、新易盛(300502.SZ)、东材科技(601208.SH)。持股中，工业富联、生益科技的季末持仓市值占基金净值比达到了10%。金梓才表示，三季度继续大幅超配海外算力板块。海外AI的增长确定性比之前更高，增长的斜率也有所提升，预计2026年和2027年海外算力需求的增长可能更快，拥有强劲的基本面。金梓才认为，视频推理的加入对算力需求的带动，目前算力的需求增长可能仅仅是刚开始，或可预见未来推理端算力需求的广阔增长空间。三季度的偏股混合型基金业绩冠军是恒越优势精选，该基金由吴海宁管理，是今年以来的业绩“黑马”之一。数据显示，截至报告期末该基金份额净值为1.3592元；报告期基金份额净值增长率为100.06%，业绩比较基准收益率为13.78%。吴海宁的基金在报告期内保持高仓位运行，她表示仍看好北美AI算力的业绩持续性，中期维度将其作为底仓的首选，后续更加关注技术上有变革的方向。同时，也看好国产半导体设备，储能，AI端侧等板块。持仓上，前十大重仓股中，除东山精密(002384.SZ)、中际旭创(300308.SZ)外，其他八只全部为新进重仓品种，包括德明利(001309.SZ)、香农芯创(300475.SZ)、蓝思科技(300433.SZ)、中微公司(688012.SH)等个股。吴海宁指，9月以来，基金加大了对存储板块的配置，她注意到存储芯片进入涨价周期，AI推理正驱动数据存储的需求快速爆发。随着Sora2的发布，AI视频生产应用出圈，而视频生成对数据存储的需求量是文字/图像生成的数百倍。SSD正快速取代HDD的应用场景，存储芯片的供给端亦相当受限。同时，国内企业级存储模组国产化率较低，互联网大厂未来提高国产化率势在必行。她判断三季度是存储大周期的起点，因其兼具成长和周期性，也是AI应用投资最好的落脚点。她认为，国产存储芯片的生产能力已达国际先进水平，在景气上行周期内持续扩产的确定性高，而刻蚀设备作为存储芯片生产所需的关键设备，将持续受益。国内独立储能经济性显现，国外电力紧缺增加了大储需求，储能的景气度亦可看长。更多港股重磅资讯，下载智通财经app更多港股及海外理财资讯，请点击www.zhitongcaijing.com（搜索“智通财经”）；欲加入智通港股投资群，请加智通客服微信(ztcjkf)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2578980796","isCrawlerRequest":true}

三季度“冠军基”重仓股出炉！持续超配算力板块 看好AI未来增长

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三季度“冠军基”重仓股出炉！持续超配算力板块看好AI未来增长