主君的太阳

高盛揭秘10万亿美元AI持仓版图对冲基金与共同基金有哪些不同？_我的网站

刑事侦缉档案3

A | DETROIT -- Ford is recalling more than 238,000 Explorers in the U.S. because a rear axle bolt can fail, potentially causing a loss of drive power or allowing the SUVs to roll away while in park.The recall comes after U.S. safety regulators opened an investigation into the problem after getting two complaints that repairs didn't work in two previous recalls this year and in 2022.Affected are certain Explorers from the 2020 through 2022 model years. The National Highway Traffic Safety Administration says in documents posted Friday on its website that the rear axle horizontal mounting bolt can fracture and cause the driveshaft to disconnect, increasing the risk of a crash.Dealers will replace a bushing and the rear axle bolt. They also will inspect the rear axle cover for damage near the bolt hole and replace the cover if damage is found. Owners will be notified by letter starting Nov. 6.Ford said in documents that it knows of 396 reports of rear axle bolt failures, and fewer than 5% caused loss of power or let vehicles roll while they were in park. The company says it’s not aware of any crashes or injuries. NHTSA opened its investigation in June after getting complaints alleging loss of power due to failure of rear axle bolts even though the Explorers had received repairs under the previous recalls. Ford's remedy was to update software that automatically applied the parking brake to keep the vehicles from rolling away. But the agency said in documents that there was no remedy addressing the failed axle bolt. Ford said Friday that it was replacing axle bolts under service campaigns before the latest recall.。　　在持续火爆但波动性极高的人工智能（AI）交易中，高盛最新报告或许能让人一窥专业投资者的思路。　　高盛表示，对冲基金对人工智能交易的敞口仍然比共同基金更大，但两类基金在2026年第二季度都调整了人工智能股票的仓位。而且，它们对于大型科技股和半导体等个股的选择也截然不同。

B | 　　这些发现基于高盛的《季度对冲基金趋势监测报告》和《共同基金基本面》报告，该报告分析了截至2026年第三季度初，991家持有5.4万亿美元总股票头寸的对冲基金和504家持有4.6万亿美元股票资产的大型主动型共同基金的持仓情况。　　先说相同之处：报告显示，上个季度对冲基金和共同基金都增持了Bloom Energy、Flex和希捷科技的股票。

C | Bloom Energy和Flex提供AI数据中心的电力和制造基础设施，希捷科技则直接受益于AI存储需求的爆发式增长。

D | 　　简单而言，两类机构在人工智能基础设施领域达成了广泛共识。　　高盛在第二季度整理出12只同时获得对冲基金和共同基金增持的AI基础设施股票：美国电力公司、AXT、Bloom Energy、CoreWeave、Flex、Lion Electric、NiSource、Sanmina、SiTime、希捷科技、Talen能源和Xcel能源。

E | 　　然而，在大型科技股和半导体个股上，两类机构态度截然不同：高盛指出，在市值巨大的人工智能公司中，对冲基金在本季度抛售了大部分股票，只有微软和亚马逊是例外，对冲基金买入了这两只股票。然而，共同基金在本季度却抛售了这两只股票。

F | 　　具体而言，对冲基金减持了以下几家大型AI公司：Alphabet、Meta Platforms、英伟达、博通、泛林集团、迈威尔科技、思科系统、慧与科技和应用材料。　　另一方面，共同基金买入了AMD、美光科技和闪迪的股票，而对冲基金则卖出了这三只股票。　　高盛指出，近几个月来，对冲基金的回报及其最受欢迎持仓的回报与人工智能交易的波动密切相关，而今年人工智能基础设施股票在共同基金投资组合中的权重大幅上升，但未能跟上基准权重的步伐，导致共同基金在该领域的权重严重不足。　　高盛数据还显示，在追踪的所有AI相关股票中，英伟达是共同基金低配幅度最大的股票，平均低配幅度约为100个基点。AMD的低配幅度约为60个基点。　　除了人工智能配置之外，高盛数据还显示，对冲基金和共同基金目前都超配金融板块。这在高盛历史数据中第三次出现。这两个集团买入的大盘股包括第一资本金融公司（Capital One Financial）、Corpay、Fiserv和盈透证券（Interactive Brokers Group）。　　数据显示，第二季度，对冲基金对金融板块的净持仓增加了300多个基点，达到全球金融危机以来该板块的最大持仓；而共同基金对金融板块的持仓也增加到至少2012年以来的最大超配水平。