Duan Yongping Experiments with "AI Trading": "Aggressively Adding" Nvidia, "Newly Entering" CoreWeave, Credo, and Tempus, "Significantly Reducing" Apple

While significantly reducing his holdings in his largest position, Apple, renowned investor Duan Yongping increased his holdings in Nvidia by more than 11 times in Q4, and also took small positions to "test the waters" in three highly representative companies in vertical AI fields.

Data shows that Duan Yongping increased his holdings in six stocks in Q4, with the largest increase in Nvidia, followed by Berkshire Hathaway; at the same time, he reduced his holdings in five stocks, with Apple seeing the biggest reduction.

This value investing tycoon, once famous for his major positions in NetEase, Kweichow Moutai, and Apple, is now making significant investments in the era of artificial intelligence with real money.

"Aggressively Adding" Nvidia, "New Entries" in CoreWeave, Credo, and Tempus

Documents show that Duan Yongping increased his position by 6.6393 million shares in Q4, a surge of 1,110.62%, bringing his total Nvidia holdings to 7.2371 million shares. The market value of this position soared to $1.35 billion, making Nvidia the third-largest holding in his portfolio (accounting for 7.72%).

Beyond heavily betting on "the seller of shovels" Nvidia, Duan Yongping also opened positions in three "new faces." Although these combined holdings account for only about 0.28% of the portfolio, his stock selection logic is extremely shrewd, precisely covering three key nodes of the AI industry chain: computing power, connectivity, and application:

• CoreWeave: The "Landlord" of Computing Power Leasing
  Newly acquired 299,900 shares. At a time when all the giants are scrambling for GPUs, CoreWeave does not produce models, but instead builds high-performance GPU clusters for enterprise rental. This is a typical "shovel seller" company. Although it faces heavy asset and high depreciation financial pressures, it possesses strong bargaining power during periods of computing power shortage.

• Credo Technology: The "Highway" of Data Centers
  Newly acquired 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 demand extremely high data transmission speeds. Duan Yongping's move aims to bet on the incremental certainty brought by data center upgrades, a highly symbiotic investment closely tied to the iteration of AI servers.

• Tempus AI: The "Practical Experiment" of AI in Medicine
  Newly acquired 110,000 shares. Unlike the hardware nature of the previous two, Tempus focuses on applying AI to precision oncology. This represents Duan Yongping's attempt at vertical AI applications. However, the healthcare industry is strictly regulated and has long cycles. While this marks the ultimate direction of AI transforming from "computing power" to "productivity," its profitability is still being tested, making it more like an endurance race.

Reducing Apple, Increasing Berkshire Hathaway

While advancing into AI, Duan Yongping also made significant rebalancing of his traditional "ballast stone" holdings.

In Q4, Apple remained his largest position, with a market value of $8.797 billion, accounting for 50.3%. However, during Q4, he reduced his Apple holdings by 2.4706 million shares, a reduction of 7.09%. This move may have been driven by risk control due to overconcentration in a single asset, or possibly to free up funds for increased investments in AI.

Meanwhile, the defensive asset Berkshire Hathaway B saw a significant increase. Duan Yongping bought nearly 1.985 million shares, boosting his position by 38.24%, securing its place as his second-largest holding (20.63%). This "left hand technology growth, right hand value defense" structure remains the cornerstone of his investment portfolio.

In addition, Duan Yongping also increased his holdings in Google and Pinduoduo, while significantly reducing his stake in lithography machine giant ASML (an 87.63% reduction), showing a divergence in his assessment of the future growth potential of different tech giants.