长年跑不赢大盘的基金_老虎社区_美港股上老虎

长年跑不赢大盘的基金公司，不用管他，loser罢了

AI行业大洗牌!桥水Q1加码AI芯片与云硬件，清仓赛富时(CRM.US)等软件股

桥水基金2026年第一季度显著调整美股仓位，大幅加仓以台积电、英伟达为代表的AI核心硬件与算力芯片巨头，同时清仓了赛富时等部分面临AI冲击的传统企业级软件股。更令市场瞩目的是，桥水在本季度重新大举建仓台积电，期末持仓市值直接飙升至3.64亿美元。

AI行业大洗牌!桥水Q1加码AI芯片与云硬件，清仓赛富时(CRM.US)等软件股

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

推荐
最新

暂无评论

热议股票

{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":565111657256872,"tweetId":"565111657256872","gmtCreate":1779001104618,"gmtModify":1779009536093,"author":{"id":3573164402650618,"idStr":"3573164402650618","authorId":3573164402650618,"authorIdStr":"3573164402650618","name":"袁老板117","avatar":"https://static.tigerbbs.com/e758bd60ef47bcbf996ad962139a47ff","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":3,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","html":"<html><head></head><body><p>长年跑不赢大盘的基金公司，不用管他，loser罢了</p></body></html>","htmlText":"<html><head></head><body><p>长年跑不赢大盘的基金公司，不用管他，loser罢了</p></body></html>","text":"长年跑不赢大盘的基金公司，不用管他，loser罢了","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/565111657256872","repostId":2635542700,"repostType":2,"repost":{"id":"2635542700","kind":"news","pubTimestamp":1778903082,"share":"https://www.laohu8.com/m/news/2635542700?lang=zh_CN&edition=full","pubTime":"2026-05-16 11:44","market":"us","language":"zh","title":"AI行业大洗牌!桥水Q1加码AI芯片与云硬件，清仓赛富时(CRM.US)等软件股","url":"https://stock-news.laohu8.com/highlight/detail?id=2635542700","media":"智通财经","summary":"桥水基金2026年第一季度显著调整美股仓位，大幅加仓以台积电、英伟达为代表的AI核心硬件与算力芯片巨头，同时清仓了赛富时等部分面临AI冲击的传统企业级软件股。更令市场瞩目的是，桥水在本季度重新大举建仓台积电，期末持仓市值直接飙升至3.64亿美元。","content":"<html><body><p>智通财经APP获悉，根据美国证券交易委员会(SEC)披露，桥水基金(Bridgewater Associates)递交了截至2026年3月31日的第一季度持仓报告(13F)。</p><p>统计数据显示，桥水第一季度持仓总市值达224亿美元，上一季度总市值为274亿美元。桥水在第一季度的持仓组合中新增了214只个股，增持了292只个股;同时，桥水减持487只个股，清仓261只个股。其中，桥水的前十大持仓标的占总市值的40.65%。</p><p><img src=\"https://img.zhitongcaijing.com/image/20260516/1778900341665366.png\" title=\"1778900341665366.png\"/></p><p>在前五大重仓股中，<a href=\"https://laohu8.com/S/161125\">标普500</a>指数ETF-SPDR(SPY.US)位列第一，持仓约436万股，持仓市值约为28.38亿美元，占投资组合比例为12.67%。</p><p>标普500指数ETF-<a href=\"https://laohu8.com/S/EEMA\">iShares</a>(IVV.US)位列第二，持仓约268万股，持仓市值约为17.50亿美元，占投资组合比例为7.81%。</p><p><a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>(AMZN.US)位列第三，持仓约438万股，持仓市值约为9.14亿美元，占投资组合比例为4.08%。</p><p><a href=\"https://laohu8.com/S/NVDA\">英伟达</a>(NVDA.US)位列第四，持仓约469万股，持仓市值约为8.18亿美元，占投资组合比例为3.65%。</p><p><a href=\"https://laohu8.com/S/GOOG\">谷歌</a>(GOOGL.US)位列第五，持仓约199万股，持仓市值约为5.74亿美元，占投资组合比例为2.56%。</p><p>桥水的第六到第十大重仓股分别为：<a href=\"https://laohu8.com/S/AVGO\">博通</a>(AVGO.US)、<a href=\"https://laohu8.com/S/MU\">美光科技</a>(MU.US)、<a href=\"https://laohu8.com/S/MSFT\">微软</a>(MSFT.US)、<a href=\"https://laohu8.com/S/GEV\">GE Vernova</a>(GEV.US)、台积电(TSM.US)。</p><p><img src=\"https://img.zhitongcaijing.com/image/20260516/1778900695590451.png\" title=\"1778900695590451.png\"/></p><p>桥水基金2026年第一季度显著调整美股仓位，大幅加仓以<a href=\"https://laohu8.com/S/TSM\">台积电</a>、英伟达为代表的AI核心硬件与算力芯片巨头，同时清仓了<a href=\"https://laohu8.com/S/CRM\">赛富时</a>等部分面临AI冲击的传统企业级软件股。</p><p>报告显示，电商与云服务巨头亚马逊在第一季度获得了桥水最大幅度的增持。与此同时，桥水继续全面收割AI军备竞赛的上游红利，对人工智能领头羊英伟达、科技巨头<a href=\"https://laohu8.com/S/GOOGL\">谷歌</a>、微软以及半导体标杆<a href=\"https://laohu8.com/S/600455\">博通</a>和美光科技进行了大幅度的加仓。</p><p>更令市场瞩目的是，桥水在本季度重新大举建仓台积电，期末持仓市值直接飙升至3.64亿美元。这一系列动作表明，在AI算力需求持续井喷的当下，桥水认同芯片、半导体供应链以及超大规模云服务商作为AI行业核心“铲子股”的绝对确定性，并倾注了真金白银的重兵进行防守与进攻。</p><p>与加大硬件配置相呼应，桥水在本季度对企业级SaaS(软件即服务)行业进行了显著减仓。2026年年初，市场关于“AI普及可能削弱企业对传统高额办公软件依赖”的讨论升温，引发了对部分传统SaaS服务商商业模式的担忧，相关软件股出现不同程度的回撤。</p><p>在此背景下，桥水在最新一季度采取了明确的调整行动：彻底清空了赛富时，并对数字办公软件巨头<a href=\"https://laohu8.com/S/ADBE\">Adobe</a>实施了大幅减持。桥水这一“增硬件、减软件”的调仓姿态，反映出部分华尔街宏观策略基金已将对AI颠覆传统软件行业的理论担忧，逐步付诸于实际的投资组合调整之中。</p><p>从持仓比例变化来看，前五大买入标的分别是：亚马逊、台积电、美光科技、博通、英伟达。</p><p>前五大卖出标的包括：标普500指数ETF-iShares、赛富时(CRM.US)、Adobe(ADBE.US)、<a href=\"https://laohu8.com/S/BKNG\">Booking Holdings</a>(BKNG.US)、万事达(MA.US)。</p><p><img src=\"https://img.zhitongcaijing.com/image/20260516/1778900578405722.png\" title=\"1778900578405722.png\"/></p><p>回顾桥水过去几个季度的历史动向可以发现，该基金在AI领域的布局并非一成不变，而是呈现出宏观审慎的动态调整特征。以算力核心英伟达为例，桥水在2025年第二季度大幅加仓后，于第三季度因估值等因素考量减持了近三分之二的仓位，随后又在第四季度伴随AI需求的持续释放选择反手增持，直至2026年首季进一步深化与硬件生态的绑定。</p></body></html>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AI行业大洗牌!桥水Q1加码AI芯片与云硬件，清仓赛富时(CRM.US)等软件股</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAI行业大洗牌!桥水Q1加码AI芯片与云硬件，清仓赛富时(CRM.US)等软件股\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-16 11:44 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1442579.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉，根据美国证券交易委员会(SEC)披露，桥水基金(Bridgewater Associates)递交了截至2026年3月31日的第一季度持仓报告(13F)。统计数据显示，桥水第一季度持仓总市值达224亿美元，上一季度总市值为274亿美元。桥水在第一季度的持仓组合中新增了214只个股，增持了292只个股;同时，桥水减持487只个股，清仓261只个股。其中，桥水的前十大持仓标的占总...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1442579.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","MA":"万事达","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0251131958.USD":"FIDELITY AMERICA \"A\" (USD) ACC","LU0251142724.SGD":"Fidelity America A-SGD","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU0082616367.USD":"摩根大通美国科技A（dist）","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","BK4532":"文艺复兴科技持仓","BK4581":"高盛持仓","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","BK4543":"AI",".SPX":"S&P 500 Index","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","BK4534":"瑞士信贷持仓","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","LU2361044949.HKD":"WELLINGTON US QUALITY GROWTH \"A\" (HKD) ACC","LU1201861165.SGD":"Natixis Harris Associates Global Equity PA SGD","LU0472753341.HKD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (HKD) ACC","LU0057025933.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (USD) ACC","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU2361044865.SGD":"WELLINGTON US QUALITY GROWTH \"A\" (SGDHDG) ACC","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","BK4535":"淡马锡持仓","NVDA":"英伟达","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","BK4538":"云计算","LU2361045086.USD":"WELLINGTON US QUALITY GROWTH \"A\" (USD) ACC","LU1046421795.USD":"富达环球科技A-ACC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","BK4548":"巴美列捷福持仓","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","BKNG":"Booking Holdings","LU2244417387.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","ADBE":"Adobe","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU0124676726.USD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (USD) ACC","BK4023":"应用软件","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU0557290698.USD":"施罗德环球可持续增长基金","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","AMZN":"亚马逊","LU0528227936.USD":"富达环球人口趋势基金A-ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU0238689110.USD":"贝莱德环球动力股票基金","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","BK4585":"ETF&股票定投概念","LU1791710582.SGD":"Fidelity Global Demographics A-ACC-SGD (SGD/USD hedged)","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","LU1791710400.SGD":"Fidelity Global Demographics A-ACC-SGD","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","AVGO":"博通","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","BK4550":"红杉资本持仓","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","BK4588":"碎股","MSFT":"微软","MU":"美光科技","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","BK4598":"佩洛西持仓","SPY":"标普500ETF","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","LU1823568750.SGD":"Fidelity Global Technology A-ACC SGD","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","BK4567":"ESG概念","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU1235294995.USD":"FIDELITY GLOBAL TECHNOLOGY \"A\" (USDHDG) ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","BK4528":"SaaS概念","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","BK4505":"高瓴资本持仓","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH  \"AG\" (USD) ACC","TSM":"台积电","LU2247934214.USD":"FIDELITY FUNDS SUSTAINABLE FUTURE CONNECTIVITY \"A\" (USD) ACC","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0477156797.USD":"HARRIS ASSOCIATES GLOBAL EQUITY \"RE\" (USD) ACC","LU0130518102.USD":"HARRIS ASSOCIATES GLOBAL EQUITY \"R\" INC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU0109392836.USD":"富兰克林科技股A","LU0187121727.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) INC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","LU0477156953.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"RE\" (USD) ACC","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","BK4608":"AI应用概念股","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","BK4607":"DeepSeek概念股","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","GOOGL":"谷歌A","BK4561":"索罗斯持仓","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","LU2087625088.SGD":"ALLSPRING  US ALL CAP GROWTH \"A\" (SGDHDG) ACC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4527":"明星科技股","CRM":"赛富时","LU1548497426.USD":"安联环球人工智能AT Acc","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","IVV":"标普500ETF-iShares","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU0069063385.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (USD) ACC","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","LU0689626769.HKD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (HKD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","BK4613":"AI应用软件","CRMG":"2倍做多CRM ETF- Leverage Shares","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","BK4579":"人工智能"},"source_url":"http://www.zhitongcaijing.com/content/detail/1442579.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2635542700","content_text":"智通财经APP获悉，根据美国证券交易委员会(SEC)披露，桥水基金(Bridgewater Associates)递交了截至2026年3月31日的第一季度持仓报告(13F)。统计数据显示，桥水第一季度持仓总市值达224亿美元，上一季度总市值为274亿美元。桥水在第一季度的持仓组合中新增了214只个股，增持了292只个股;同时，桥水减持487只个股，清仓261只个股。其中，桥水的前十大持仓标的占总市值的40.65%。在前五大重仓股中，标普500指数ETF-SPDR(SPY.US)位列第一，持仓约436万股，持仓市值约为28.38亿美元，占投资组合比例为12.67%。标普500指数ETF-iShares(IVV.US)位列第二，持仓约268万股，持仓市值约为17.50亿美元，占投资组合比例为7.81%。亚马逊(AMZN.US)位列第三，持仓约438万股，持仓市值约为9.14亿美元，占投资组合比例为4.08%。英伟达(NVDA.US)位列第四，持仓约469万股，持仓市值约为8.18亿美元，占投资组合比例为3.65%。谷歌(GOOGL.US)位列第五，持仓约199万股，持仓市值约为5.74亿美元，占投资组合比例为2.56%。桥水的第六到第十大重仓股分别为：博通(AVGO.US)、美光科技(MU.US)、微软(MSFT.US)、GE Vernova(GEV.US)、台积电(TSM.US)。桥水基金2026年第一季度显著调整美股仓位，大幅加仓以台积电、英伟达为代表的AI核心硬件与算力芯片巨头，同时清仓了赛富时等部分面临AI冲击的传统企业级软件股。报告显示，电商与云服务巨头亚马逊在第一季度获得了桥水最大幅度的增持。与此同时，桥水继续全面收割AI军备竞赛的上游红利，对人工智能领头羊英伟达、科技巨头谷歌、微软以及半导体标杆博通和美光科技进行了大幅度的加仓。更令市场瞩目的是，桥水在本季度重新大举建仓台积电，期末持仓市值直接飙升至3.64亿美元。这一系列动作表明，在AI算力需求持续井喷的当下，桥水认同芯片、半导体供应链以及超大规模云服务商作为AI行业核心“铲子股”的绝对确定性，并倾注了真金白银的重兵进行防守与进攻。与加大硬件配置相呼应，桥水在本季度对企业级SaaS(软件即服务)行业进行了显著减仓。2026年年初，市场关于“AI普及可能削弱企业对传统高额办公软件依赖”的讨论升温，引发了对部分传统SaaS服务商商业模式的担忧，相关软件股出现不同程度的回撤。在此背景下，桥水在最新一季度采取了明确的调整行动：彻底清空了赛富时，并对数字办公软件巨头Adobe实施了大幅减持。桥水这一“增硬件、减软件”的调仓姿态，反映出部分华尔街宏观策略基金已将对AI颠覆传统软件行业的理论担忧，逐步付诸于实际的投资组合调整之中。从持仓比例变化来看，前五大买入标的分别是：亚马逊、台积电、美光科技、博通、英伟达。前五大卖出标的包括：标普500指数ETF-iShares、赛富时(CRM.US)、Adobe(ADBE.US)、Booking Holdings(BKNG.US)、万事达(MA.US)。回顾桥水过去几个季度的历史动向可以发现，该基金在AI领域的布局并非一成不变，而是呈现出宏观审慎的动态调整特征。以算力核心英伟达为例，桥水在2025年第二季度大幅加仓后，于第三季度因估值等因素考量减持了近三分之二的仓位，随后又在第四季度伴随AI需求的持续释放选择反手增持，直至2026年首季进一步深化与硬件生态的绑定。","news_type":1,"symbols_score_info":{"MSFT":1.83,"CRM":1.92,".SPX":1.85,"MA":1.75,"CRMG":0.6,"IVV":1.85,"AMZN":1.89,"BKNG":1.75,"AVGO":1.88,"SPY":1.86,"TSM":1.9,"NVDA":1.91,"MU":1.88,"ADBE":1.81,"GOOGL":1.84}},"isVote":1,"tweetType":1,"viewCount":75,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":43,"optionInvolvedFlag":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}