胜者为王18的个人主页 - 老虎社区

胜者为王18

胜者为王18

暂无个人介绍

IP属地：山东

71关注

3粉丝

3主题

0勋章

10-10

M

英伟达悄然重新定义自由现金流，千亿回购计划暗藏水分？

2025-07-24

$特斯拉(TSLA)$ 月底350还是有希望的[强]

2025-03-11

$Hims & Hers Health Inc.(HIMS)$ 保持住心态，别把自己给干崩溃了！

2025-03-11

Replying to @爱吃小鱼鱼的猴子:跌到底才有反弹，慌啥呢？//@爱吃小鱼鱼的猴子:跌破100估计就恐慌了

2025-03-07

$特斯拉(TSLA)$ 挤挤泡沫，相信马斯克不会任人宰割，抛掉捣乱的民主党的股东，虽然双方都有损失，但减减肥甩掉包袱更健康！相信不久的时间后特斯拉会再次辉煌！

2025-03-07

美股市场的基本面变化不大，庄家想获利了结重新上菜再吃一遍，这就是回调的基本原则！再次大涨是必然的！

Tom Lee：现在应该买入美股！市场已经消化各种坏消息，接下来三个月很可能是大涨月

2025-03-06

长久看特斯拉的产业链比较长，市场适应能力较强，很多现在效益不高的产业在未来很可能产生出来较高的市场效应！而英伟达市场业务面相比较窄，自身突破需要较高的研发成本，如果有其他公司突破性的产品能以更低的成本取代，英伟达就危险了⚠️

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"4200961418214362","uuid":"4200961418214362","gmtCreate":1737858245390,"gmtModify":1741266210402,"name":"胜者为王18","pinyin":"szww18shengzheweiwang18","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":3,"headSize":71,"tweetSize":7,"questionSize":0,"limitLevel":999,"accountStatus":1,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":3,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.06.11","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":1,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":1,"crmLevelSwitch":0,"location":"山东","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":17,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":616784070389896,"gmtCreate":1791601306984,"gmtModify":1791601308804,"author":{"id":"4200961418214362","authorId":"4200961418214362","name":"胜者为王18","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4200961418214362","idStr":"4200961418214362"},"themes":[],"title":"","htmlText":"M","listText":"M","text":"M","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/616784070389896","repostId":"2674002860","repostType":2,"repost":{"id":"2674002860","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1791594609,"share":"https://www.laohunote.com/m/news/2674002860?lang=zh_CN&edition=full","pubTime":"2026-10-10 09:10","market":"sh","language":"zh","title":"英伟达悄然重新定义自由现金流，千亿回购计划暗藏水分？","url":"https://stock-news.laohu8.com/highlight/detail?id=2674002860","media":"华尔街见闻","summary":"英伟达将对OpenAI、Anthropic等242家企业的股权投资列为\"战略用途\"，从自由现金流中扣除。经此调整，上半财年自由现金流从官方口径699亿美元骤降至217亿美元，缩水近七成。与此同时，公司新增249亿美元长期债务以支撑回购，2350亿美元回购计划的可持续性存疑。","content":"<html><head></head><body><p>英伟达一个措辞上的细微变化，正在重塑投资者对这家芯片巨头财务健康状况的理解。</p>\n<p>今年9月28日，英伟达宣布将股票回购授权规模扩大1500亿美元至2350亿美元，并在公告中悄然嵌入一句关键表述——<strong>&#34;我们将以净超出战略用途的自由现金流（excess free cash flow net of strategic uses）形式回馈股东&#34;</strong>。据《华尔街日报》报道，这句话实质上是在向投资者发出信号：<strong>英伟达对外的股权投资，同样会压缩可用于回购和分红的现金。</strong>这一表述几乎未引发市场关注，但其背后的财务逻辑影响深远。</p>\n<p><strong>若将英伟达的战略股权投资及股权激励相关现金支出纳入计算，其今年上半财年的实际自由现金流将从官方口径的699亿美元骤降至约217亿美元——缩水近七成。</strong>与此同时，英伟达在同期斥资约310亿美元用于超出维持股本不变所需的额外回购，并新增长期债务249亿美元至324亿美元，部分依赖举债来支撑回购力度。这一组合引发外界对其回购可持续性的质疑。</p>\n<h2>“净战略用途”：一句话改变回购逻辑</h2>\n<p>英伟达此次措辞调整的核心，在于将战略股权投资纳入自由现金流的扣减范畴。</p>\n<p>传统意义上，自由现金流通常以经营活动现金流减去资本支出（capex）计算，被视为企业在维持运营后可自由支配的现金代理指标。然而，英伟达的资本支出形态已不局限于厂房设备，还延伸至对AI生态系统内企业的股权投资。</p>\n<p>英伟达披露，截至目前，公司持有13家上市公司及229家私营公司的股权，涵盖数据中心建设、AI模型开发、能源供应及硬件制造等领域，其中包括OpenAI和Anthropic等知名AI企业。<strong>英伟达将上述投资定性为“战略性”而非“可选择性”，认为这些投资有助于加速其计算平台及整体AI市场的发展。</strong></p>\n<p>值得注意的是，这些被投企业同时也是英伟达芯片的买家，形成一种循环动态——英伟达向其注资，被投企业再用这些资金购买英伟达产品。这一循环结构已引发市场对AI繁荣可持续性的担忧。</p>\n<h2>数字背后：自由现金流被高估多少？</h2>\n<p><strong>英伟达并未正式修改自由现金流的定义，官方仍沿用传统公式。但实际数字的差距触目惊心。</strong></p>\n<p>据《华尔街日报》分析，在截至今年7月26日的上半财年内：</p>\n<ul>\n<li>\n<p>英伟达用于购买股权投资的现金流出为<strong>424亿美元</strong>，出售所得为72亿美元，<strong>净流出达352亿美元</strong>；</p>\n</li>\n<li>\n<p>若将上述净流出视同资本支出处理，英伟达自由现金流将从<strong>699亿美元减半至347亿美元</strong>；</p>\n</li>\n<li>\n<p>此外，员工股权激励相关的现金支出同样未被纳入传统自由现金流计算。同期，英伟达为员工股票归属支付的现金预扣税款达<strong>45亿美元</strong>，另有约<strong>90亿美元</strong>的回购用于对冲股权激励带来的股本稀释；</p>\n</li>\n<li>\n<p>扣除员工股权激励相关现金支出后，再叠加股权投资净流出，<strong>英伟达上半财年的调整后自由现金流约为217亿美元</strong>，较官方口径缩水约69%。</p>\n</li>\n</ul>\n<p>与此同时，英伟达在同期新增长期债务249亿美元，这在一定程度上解释了公司如何在战略投资和股权激励吸收大量现金的情况下，仍维持了可观的额外回购规模。</p>\n<h2>2350亿回购授权：华尔街预期能否兑现？</h2>\n<p>英伟达2350亿美元的回购授权规模庞大，兑现需要持续强劲的现金流支撑。</p>\n<p>据Visible Alpha汇编的华尔街分析师预测数据，英伟达在2028财年（截至2028年1月）的自由现金流均值预期超过<strong>3300亿美元</strong>，理论上足以覆盖全部回购授权及分红支出。</p>\n<p>然而，英伟达自身已通过措辞调整暗示，<strong>未来仍需持续向被投企业注入大量资金。</strong>若战略股权投资规模维持高位，调整后的实际可分配现金流将远低于传统口径下的预测数字，回购计划的实际执行空间也将相应收窄。</p>\n<h2>信息披露：英伟达领先同行，但仍不够</h2>\n<p>在信息透明度方面，英伟达已率先做出改进。</p>\n<p>英伟达上季度调整了现金流量表的列报方式，<strong>将债务类证券与股权类证券在投资活动项下完全分开披露</strong>（其持有的债务证券均为美国国债或机构债券），使投资者得以自行进行上述调整。</p>\n<p>相比之下，微软、亚马逊及谷歌母公司Alphabet均将债务投资与股权投资合并列报，令投资者难以进行同类拆分。《华尔街日报》认为，其他公司应效仿英伟达的做法。</p>\n<p>但即便如此，英伟达的披露改进仍只是起点。<strong>自由现金流的真实面貌远比表面复杂，投资者需要现金流量表提供更高程度的透明度，才能准确评估这家AI时代最重要芯片公司的真实财务状况与回购能力。</strong></p></body></html>","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>英伟达悄然重新定义自由现金流，千亿回购计划暗藏水分？</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\">\n英伟达悄然重新定义自由现金流，千亿回购计划暗藏水分？\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-10-10 09:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>英伟达一个措辞上的细微变化，正在重塑投资者对这家芯片巨头财务健康状况的理解。</p>\n<p>今年9月28日，英伟达宣布将股票回购授权规模扩大1500亿美元至2350亿美元，并在公告中悄然嵌入一句关键表述——<strong>&#34;我们将以净超出战略用途的自由现金流（excess free cash flow net of strategic uses）形式回馈股东&#34;</strong>。据《华尔街日报》报道，这句话实质上是在向投资者发出信号：<strong>英伟达对外的股权投资，同样会压缩可用于回购和分红的现金。</strong>这一表述几乎未引发市场关注，但其背后的财务逻辑影响深远。</p>\n<p><strong>若将英伟达的战略股权投资及股权激励相关现金支出纳入计算，其今年上半财年的实际自由现金流将从官方口径的699亿美元骤降至约217亿美元——缩水近七成。</strong>与此同时，英伟达在同期斥资约310亿美元用于超出维持股本不变所需的额外回购，并新增长期债务249亿美元至324亿美元，部分依赖举债来支撑回购力度。这一组合引发外界对其回购可持续性的质疑。</p>\n<h2>“净战略用途”：一句话改变回购逻辑</h2>\n<p>英伟达此次措辞调整的核心，在于将战略股权投资纳入自由现金流的扣减范畴。</p>\n<p>传统意义上，自由现金流通常以经营活动现金流减去资本支出（capex）计算，被视为企业在维持运营后可自由支配的现金代理指标。然而，英伟达的资本支出形态已不局限于厂房设备，还延伸至对AI生态系统内企业的股权投资。</p>\n<p>英伟达披露，截至目前，公司持有13家上市公司及229家私营公司的股权，涵盖数据中心建设、AI模型开发、能源供应及硬件制造等领域，其中包括OpenAI和Anthropic等知名AI企业。<strong>英伟达将上述投资定性为“战略性”而非“可选择性”，认为这些投资有助于加速其计算平台及整体AI市场的发展。</strong></p>\n<p>值得注意的是，这些被投企业同时也是英伟达芯片的买家，形成一种循环动态——英伟达向其注资，被投企业再用这些资金购买英伟达产品。这一循环结构已引发市场对AI繁荣可持续性的担忧。</p>\n<h2>数字背后：自由现金流被高估多少？</h2>\n<p><strong>英伟达并未正式修改自由现金流的定义，官方仍沿用传统公式。但实际数字的差距触目惊心。</strong></p>\n<p>据《华尔街日报》分析，在截至今年7月26日的上半财年内：</p>\n<ul>\n<li>\n<p>英伟达用于购买股权投资的现金流出为<strong>424亿美元</strong>，出售所得为72亿美元，<strong>净流出达352亿美元</strong>；</p>\n</li>\n<li>\n<p>若将上述净流出视同资本支出处理，英伟达自由现金流将从<strong>699亿美元减半至347亿美元</strong>；</p>\n</li>\n<li>\n<p>此外，员工股权激励相关的现金支出同样未被纳入传统自由现金流计算。同期，英伟达为员工股票归属支付的现金预扣税款达<strong>45亿美元</strong>，另有约<strong>90亿美元</strong>的回购用于对冲股权激励带来的股本稀释；</p>\n</li>\n<li>\n<p>扣除员工股权激励相关现金支出后，再叠加股权投资净流出，<strong>英伟达上半财年的调整后自由现金流约为217亿美元</strong>，较官方口径缩水约69%。</p>\n</li>\n</ul>\n<p>与此同时，英伟达在同期新增长期债务249亿美元，这在一定程度上解释了公司如何在战略投资和股权激励吸收大量现金的情况下，仍维持了可观的额外回购规模。</p>\n<h2>2350亿回购授权：华尔街预期能否兑现？</h2>\n<p>英伟达2350亿美元的回购授权规模庞大，兑现需要持续强劲的现金流支撑。</p>\n<p>据Visible Alpha汇编的华尔街分析师预测数据，英伟达在2028财年（截至2028年1月）的自由现金流均值预期超过<strong>3300亿美元</strong>，理论上足以覆盖全部回购授权及分红支出。</p>\n<p>然而，英伟达自身已通过措辞调整暗示，<strong>未来仍需持续向被投企业注入大量资金。</strong>若战略股权投资规模维持高位，调整后的实际可分配现金流将远低于传统口径下的预测数字，回购计划的实际执行空间也将相应收窄。</p>\n<h2>信息披露：英伟达领先同行，但仍不够</h2>\n<p>在信息透明度方面，英伟达已率先做出改进。</p>\n<p>英伟达上季度调整了现金流量表的列报方式，<strong>将债务类证券与股权类证券在投资活动项下完全分开披露</strong>（其持有的债务证券均为美国国债或机构债券），使投资者得以自行进行上述调整。</p>\n<p>相比之下，微软、亚马逊及谷歌母公司Alphabet均将债务投资与股权投资合并列报，令投资者难以进行同类拆分。《华尔街日报》认为，其他公司应效仿英伟达的做法。</p>\n<p>但即便如此，英伟达的披露改进仍只是起点。<strong>自由现金流的真实面貌远比表面复杂，投资者需要现金流量表提供更高程度的透明度，才能准确评估这家AI时代最重要芯片公司的真实财务状况与回购能力。</strong></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3f1c866c487eb9e101f73a62d4495ce9","relate_stocks":{"SGXZ80539844.SGD":"ALLIANZ GLOBAL HIGH PAYOUT \"AMI\" (H2-SGD) INC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU2028103732.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AMG\" (USD) INC","LU2491049909.HKD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (HKD) ACC","BK4503":"景林资产持仓","LU2491050071.SGD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (SGDHDG) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","LU2322448791.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (USD) INC","LU1979441026.SGD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"A\" (SGDHDG) ACC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0072462426.USD":"贝莱德全球配置 A2","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","NVDA":"英伟达","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","LU2322448957.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (HKD) INC","LU2491050154.USD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (USD) ACC","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","IE0001KFT4U8.USD":"FTGF CLEARBRIDGE GLOBAL GROWTH LEADERS \"A\" (USD) INC","IE0009G5SDU7.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) INC","LU0048584097.USD":"FIDELITY FUNDS  GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) INC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU0138981039.USD":"FIDELITY FUNDS SUSTAINABLE MULTI ASSET INCOME \"A\" INC","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","IE000ITXATA3.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) ACC","LU2860962120.EUR":"CPR INVEST - ARTIFICIAL INTELLIGENCE \"A2\" (EUR) ACC A","LU1202635105.USD":"ALLIANZ EUROPE INCOME AND GROWTH \"AM\" (USDHDG) INC","IE000YTNTUN2.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG)INC","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","IE00BDCRKT87.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC","LU1144417596.USD":"UBS (LUX) GLOBAL QUALITY DIVIDEND EQUITY \"Q\" (USD) INC","LU2473716301.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMF\" (USD) INC","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","CLSE":"Convergence Long/Short Equity ETF","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","SGXZ81514606.USD":"大华环球创新基金A Acc USD","SPTE":"SP FUNDS S&P GLOBAL TECHNOLOGY ETF","SNPE":"Xtrackers S&P 500 Scored & Screened ETF","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","LU0096362180.USD":"CT (LUX) I GLOBAL FOCUS \"DU\" (USD)","LU2552382058.USD":"WELLINGTON US BRAND POWER \"A\" (USD) ACC","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","LU2471134952.CNY":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (CNYHDG) INC","LU2471134879.HKD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (HKD) INC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","LU1935043452.HKD":"宏利环球多元资产收益 \"AA\" 基金（港元）派息","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","JGRO":"Jpmorgan Active Growth ETF","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","LU0861579265.USD":"联博低波幅策略股票基金A","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","LU1935042215.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (USD) INC A","CMAG":"Corgi Mag 7 ETF","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","LU0210536198.USD":"JPM US GROWTH \"A\" ACC","LU0187121727.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) INC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU2023251221.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (USD) INC","LU2896262040.SGD":"JPM US GROWTH FUND \"A\" (SGD) ACC","HK0000914686.HKD":"GFI Global Select Equity Fund Class A (HKD)","LU0898699433.AUD":"JPM GLOBAL INCOME \"A\" (AUDHDG) INC (M)","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","BK4581":"高盛持仓","HK0000914660.USD":"GFI Global Select Equity Fund Class A (USD)","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","LU1732800096.USD":"摩根大通环球收益基金A (irc)","IE00BZ199S13.USD":"BNY MELLON MOBILITY INNOVATION \"B\" (USD) ACC","LU2394011477.USD":"JPMORGAN CLIMATE CHANGE SOLUTIONS \"A\" (USD) ACC","LU2487616109.SGD":"JPM AMERICA EQUITY \"A\" (SGD) ACC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU0210528500.USD":"JPM AMERICA EQUITY \"A\" ACC","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","GAMR":"Amplify Video Game Leaders ETF","BK4579":"人工智能","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","SNVD.UK":"LS -1X NVIDIA","BK4592":"伊斯兰概念","LU2065169927.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) ACC","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","FTEC":"Fidelity MSCI Information Techno","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","LU2168564065.EUR":"AZ ALLOCATION - TREND \"AAZ\" (EUR) ACC","EFIV":"SPDR S&P 500 ESG ETF","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU1935042488.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (USD) INC","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (SGDHDG) INC","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","LU1778281490.HKD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (HKD) INC","LU2168564149.EUR":"AZ ALLOCATION - TREND \"BAZ\" (EUR) ACC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","NULC":"Nuveen ESG Large-Cap ETF","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","SOXQ":"Invesco PHLX Semiconductor ETF","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","LU1917777945.USD":"安联专题基金Cl AT Acc","LU0158827781.USD":" ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (USD) ACC","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","SOXX":"iShares费城交易所半导体ETF","CNEQ":"Alger Concentrated Equity ETF","LU1721428933.USD":"法巴全球经典环境基金RH MD Dis","LU2242650005.HKD":"FIDELITY FUNDS GLOBAL MULTI ASSET DYNAMIC \"A\" (HKD) ACC","SOXY":"YieldMax Target 12 Semiconductor Option Income ETF","SG9999014542.SGD":"United Income Focus Trust Acc SGD","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","USD":"ProShares Ultra Semiconductors","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","BK4598":"佩洛西持仓","LU2063271972.USD":"富兰克林创新领域基金","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1400636574.HKD":"ALLIANZ EUROPE INCOME AND GROWTH \"AMG\" (HKDHDG) INC","VGT":"信息技术ETF-Vanguard","LU0345768153.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) ACC","LU2237443895.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) ACC","LU0557290698.USD":"施罗德环球可持续增长基金","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","LU1934455277.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"AD\" (USD) INC","NVC":"Corgi NVDA 2x Daily ETF","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","NVD":"2倍做空NVDA ETF-GraniteShares","LU1791710582.SGD":"Fidelity Global Demographics A-ACC-SGD (SGD/USD hedged)","LU1119994496.HKD":"FIDELITY WORLD \"A\" (HKD) ACC","LU1934455194.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (USD) ACC","LU1116320737.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (USD) INC","LFGY":"YieldMax Crypto Industry and Tech Portfolio Option Income ETF","NVDB":"ProShares Ultra NVDA ETF","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","3NVD.UK":"LS 3X NVIDIA","LU1791710400.SGD":"Fidelity Global Demographics A-ACC-SGD","NVDD":"1倍做空NVDA ETF-Direxion","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","LU0823414478.USD":"法巴经典能源转换基金","LU0056508442.USD":"贝莱德世界科技基金A2","NVDG":"2倍做多NVDA ETF- Leverage Shares","AGOX":"Adaptive Alpha Opportunities ETF","LU0323240290.USD":"HSBC GIF GLOBAL EQUITY CLIMATE CHANGE \"AD\" INC","SG9999001424.SGD":"United E-Commerce Fund SGD","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","NVDL":"2倍做多NVDA ETF-GraniteShares","BK4605":"半导体精选","LU1116320901.HKD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (HKD) INC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","NVDQ":"2倍做空NVDA ETF-T-Rex","CHAT":"ROUNDHILL GENERATIVE AI & TECHNOLOGY ETF","BK4608":"AI应用概念股","NVDS":"1.5倍做空NVDA ETF-Tradr","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","NVDU":"2倍做多NVDA ETF-Direxion","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","NVDW":"NVDA周配息ETF-Roundhill","LU0724617625.USD":"BGF GLOBAL ALLOCATION \"A4\" (USD) INC","LU1232071149.USD":"AZ FUND 1 GLOBAL GROWTH SELECTOR \"AAZ\" (USDHDG) ACC","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY  \"A4\" (USD) INC","VT":"世界全股市ETF-Vanguard","LU0310800379.SGD":"FTIF - Templeton Global A Acc SGD","NVDX":"2倍做多NVDA ETF-T-Rex","LU0788109477.HKD":"BGF GLOBAL ALLOCATION \"A2\" (HKDHGD) ACC","LU0210533765.USD":"JPM GLOBAL GROWTH \"A\" (USD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","LU2148611432.USD":"AZ ALLOCATION BALANCED BRAVE \"AAZ\" (USDHDG) ACC","NVDY":"NVDA期权收益策略ETF-YieldMax","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","ARTY":"ISHARES FUTURE AI & TECH ETF","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","NVII":"Rex NVDA Growth & Income ETF","IETC":"iShares U.S. Tech Independence Focused ETF","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0726765562.USD":"JPM GLOBAL INCOME \"A\" (USD HEDGED) INC","BK4612":"AI芯片","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU2381873111.SGD":"BGF SYSTEMATIC GLOBAL EQUITY HIGH INCOME \"A6\" (SGDHDG) INC","2NVD.UK":"2X NVIDIA ETP","LU2347655073.USD":"JPM GLOBAL INCOME \"A\" (USDHDG) INC A","BK4614":"Manus概念股","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU0070217475.USD":"JPM GLOBAL SELECT EQUITY \"A\" ACC","LU1880398554.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) INC","CHPX":"Global X AI Semiconductor & Quantum ETF","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU1670756490.USD":"ALLIANZ EUROPE INCOME AND GROWTH \"AT\" (USDHDG) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","LU1267930573.SGD":"TEMPLETON GLOBAL \"AA\" (SGD) ACC A","BK4141":"半导体产品","LU1691799644.USD":"Amundi Funds Polen Capital Global Growth A2 (C) USD","LU0965509283.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (SGDHDG) INC","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","ILDR":"First Trust Innovation Leaders ETF","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","NVYY":"GraniteShares YieldBOOST NVDA ETF","TEK":"iShares Technology Opportunities Active ETF","LU2279689827.SGD":"JPMorgan Investment Funds - Global Income Sustainable A (mth) SGD-H","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","SG9999014906.USD":"大华全球优质成长基金Acc USD","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","LU1868836757.USD":"CT (LUX) I AMERICAN FUND \"2\" (USD) ACC","LU0957791311.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"ZU\" (USD) ACC","AIFD":"TCW Artificial Intelligence ETF","ROM":"ProShares Ultra Technology","LU2087625088.SGD":"ALLSPRING  US ALL CAP GROWTH \"A\" (SGDHDG) ACC","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","LU2746668461.USD":"MANULIFE DYNAMIC LEADERS \"AA\" (USD) ACC","LU1548497426.USD":"安联环球人工智能AT Acc","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU1035775433.USD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","LU2746668974.SGD":"MANULIFE DYNAMIC LEADERS \"AA\" (SGDHDG) ACC","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","ANV":"GraniteShares Autocallable NVDA ETF","IE0004091025.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"B\" (USD) ACC","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","LU0079474960.USD":"联博美国增长基金A","LU1934455863.HKD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (HKD) ACC","LU2361044949.HKD":"WELLINGTON US QUALITY GROWTH \"A\" (HKD) ACC","NVDO":"2倍上限加速NVDA ETF-Leverage Shares","LU2361044865.SGD":"WELLINGTON US QUALITY GROWTH \"A\" (SGDHDG) ACC","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","USXF":"iShares ESG Advanced MSCI USA ETF","AIPI":"REX AI EQUITY PREMIUM INCOME ETF","HK0000304805.HKD":"PICTET 战略收益基金 P类港元","LU2361045086.USD":"WELLINGTON US QUALITY GROWTH \"A\" (USD) ACC","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","IE00BYXW3230.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"AA\" (USD) ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","HK0000304797.USD":"PICTET 战略收益基金 P类 美元","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","LU0124676726.USD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (USD) ACC","ESLG":"Eventide Large Cap Growth ETF","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","LU0965508806.USD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC","BK4567":"ESG概念","LU2065170008.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) INC","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU0528227936.USD":"富达环球人口趋势基金A-ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0985320562.USD":"NORDEA 1 GLOBAL STARS EQUITY \"BP\" (USD) ACC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","LU0342679015.USD":"ALLIANZ GLOBAL EQUITY UNCONSTRAINED \"AT\" (USD) ACC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU0545039389.USD":"BGF GLOBAL EQUITY INCOME \"A2\" ACC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","HK0000819398.USD":"BLACKROCK PREMIER SYSTEMATIC GLOBAL EQUITY HIGH INCOME FUND A10 (USD)INC","LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","ESUM":"EVENTIDE US MARKET ETF","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","LU2191332357.HKD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (HKDHDG) INC","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","TYLG":"GLOBAL X INFORMATION TECHNOLOGY COVERED CALL & GROWTH ETF","LU2463028550.USD":"AB SICAV I AMERICAN MULTI-ASSET PORTFOLIO \"A\" (USD) ACC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU2420271590.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AT\" (USD) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU2065171311.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) ACC","FDTX":"Fidelity Disruptive Technology ETF","LU2065171402.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) INC","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","LU0795875086.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD","LU0823421333.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) ACC","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH  \"AG\" (USD) ACC","LU0823421416.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) INC","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","LU1992135399.USD":"Allianz Global Intelligent Cities AT Acc USD","HK0000532082.HKD":"ALLIANZ SELECTION INCOME AND GROWTH \"AM\" (HKD) INC","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU2413666699.HKD":"BNP PARIBAS GLOBAL ENVIRONMENT \"CRH\" (HKDHDG) INC","LU2247934214.USD":"FIDELITY FUNDS SUSTAINABLE FUTURE CONNECTIVITY \"A\" (USD) ACC","LU0109392836.USD":"富兰克林科技股A","LU0823434583.USD":"BNP PARIBAS US GROWTH \"C\" (USD) ACC","IE000KEQY171.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) INC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU0823434740.USD":"BNP PARIBAS US GROWTH \"C\" (USD) INC","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0143551892.USD":"T ROWE PRICE GLOBAL FOCUSED GROWTH EQUITY \"A\" (USD) ACC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","BK4543":"AI","LU2462591277.SGD":"TRP GLOBAL FOCUSED GROWTH EQUITY \"AN\" (SGDHDG) ACC","LU2954938101.SGD":"T ROWE PRICE GLOBAL FOCUSED GROWTH EQUITY \"A8P\" (SGD) INC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","THMR":"THOR AdaptiveRisk Dynamic ETF","LU2999663052.SGD":"T ROWE PRICE GLOBAL FOCUSED GROWTH EQUITY \"A4P\" (SGD) INC","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0444971666.USD":"天利全球科技基金","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU0912757837.SGD":"JPMorgan Investment Funds - Global Income A (mth) SGD-H","IE00B4YYXB79.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) ACC","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","LU0069063385.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (USD) ACC","IXN":"iShares Trust S&P Global Informa","LU0965509101.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (SGDHDG) ACC","LU2047632596.USD":"T.ROWE MULTI-ASSET GLOBAL INCOME \"A\" (USD) ACC","LU1400636657.SGD":"Allianz Europe Income and Growth Cl AMg DIS H2-SGD","LU0689626769.HKD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (HKD) ACC","LU0823414551.USD":"BNP PARIBAS ENERGY TRANSITION \"C\" (USD) INC","BK4549":"软银资本持仓","SGXZ51526630.SGD":"大华环球创新基金A Acc SGD","LU2100268510.USD":"T.ROWE MULTI-ASSET GLOBAL INCOME \"AX\" (USD) INC","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","BK4548":"巴美列捷福持仓","LU3102509885.SGD":"T.ROWE MULTI-ASSET GLOBAL INCOME \"A8P\" (SGDHDG) INC","FAI":"First Trust Bloomberg Artificial Intelligence ETF","LU0251132253.USD":"FIDELITY FUNDS  GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) ACC","LU1633808545.USD":"ALLIANZ GLOBAL EQUITY GROWTH \"AT\" (USD) ACC","IE00BKPKM429.USD":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","LU0203202063.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A2X\" (USD) ACC","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC","BK4554":"元宇宙及AR概念","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU0266013472.USD":"AXA WF - Framlington Longevity Economy A Cap USD","LU1066051225.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AC\" (USD) ACC","LU0203201768.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"AX\" (USD) INC","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","LU1069347547.HKD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (HKD) INC","BK4585":"ETF&股票定投概念","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1923622614.USD":"Natixis Thematics Meta R/A USD","LU0553294199.USD":"BGF GLOBAL EQUITY INCOME \"A5G\" (USD) INC","LU2506951792.HKD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (HKDHDG)       ACC","LU1699723380.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"AP\" (USD) ACC","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","BK4587":"ChatGPT概念","LU2413666426.HKD":"BNP PARIBAS GLOBAL ENVIRONMENT \"C\" (HKD) ACC","LU2125909759.SGD":"Natixis Thematics Safety H-R/A SGD","LU0057025933.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (USD) ACC","LU2452424414.USD":"BGF ESG MULTI-ASSET \"A10\" (USDHDG) INC","LU0882574139.USD":"富达环球消费行业基金A ACC","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","LU2125909916.SGD":"Natixis Thematics Safety R/A SGD","SG9999015978.USD":"利安颠覆性创新基金A","07388":"南方两倍做空英伟达","BK4588":"碎股","BK4550":"红杉资本持仓","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU1923622291.USD":"Natixis Thematics Safety R/A USD","LU0323239441.USD":"HSBC GIF GLOBAL EQUITY CLIMATE CHANGE \"AC\" ACC","XLK":"高科技指数ETF-SPDR","LU0133085943.USD":"T ROWE PRICE US BLUE CHIP EQUITY \"A\" ACC","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU2433249047.HKD":"THEMATICS META \"R/A\" (HKD) ACC","BK4551":"寇图资本持仓","LU1861127337.USD":"ALLIANZ GLOBAL MULTI ASSET SUSTAINABILITY BALANCED \"AMG\" (USD) INC","LU0174119429.USD":"T ROWE PRICE US LARGE CAP GROWTH EQUITY \"A\" ACC","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU2244417387.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) ACC","LU2462591350.SGD":"T ROWE PRICE US LARGE CAP GROWTH EQUITY \"AN\" (SGDHDG) ACC","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","LU1037948897.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (HKD) INC","LU2290526834.HKD":"BGF NEXT GENERATION TECHNOLOGY \"A2\" (HKDHDG) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","SHOC":"Strive U.S. Semiconductor ETF","SG9999014575.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USDHDG) INC","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","LU1037948541.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (HKD) ACC","BK4529":"IDC概念","IE00BDRTCR15.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC A","LU2125909593.SGD":"Natixis Thematics Meta R/A SGD","LU2637965513.SGD":"BGF GLOBAL ALLOCATION \"A10\" (SGDHDG) INC","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","IE00B5TLWC47.USD":"BNY MELLON LONG-TERM GLOBAL EQUITY \"B\" (USD) ACC","LU0215105999.USD":"SCHRODER ISF GLOBAL EQUITY \"A\" ACC","LU2403377893.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AM\" (USD) INC","LU1261432733.SGD":"Fidelity World A-ACC-SGD","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","IE0034235295.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"A\" (USD) ACC","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","07788":"南方两倍做多英伟达","LU2092937148.SGD":"Blackrock ESG Multi-Asset A8 SGD-H","LU2092627202.USD":"Blackrock ESG Multi-Asset A8 USD-H","LU2111349929.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (HKD) INC","LU1992135472.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES \"AT\" (HKD) ACC","LU1035773651.USD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (USD) INC","SMH":"半导体指数ETF-HOLDRs","SG9999014559.SGD":"United Income Focus Trust Dis SGD","LU2360107168.USD":"BGF NEXT GENERATION TECHNOLOGY \"A4\" (USD) INC","LU2077746001.SGD":"Blackrock ESG Multi-Asset A2 SGD-H","BK4527":"明星科技股","LU2237443465.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) INC","SG9999014567.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USD) ACC","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","DIPS":"做空NVDA期权收益策略ETF-YieldMax","LU1674673691.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (USD) INC","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","SG9999015358.SGD":"United Income Focus Trust Dis SGD-H","LU0234570918.USD":"高盛全球核心股票组合Acc Close","TTEQ":"T. Rowe Price Technology ETF","LU2357125470.USD":"BNP PARIBAS ENERGY TRANSITION \"CLASSIC RH\" (USDHDG) ACC","LU0094547139.USD":"abrdn SICAV I - GLOBAL SUSTAINABLE EQUITY FUND \"A\" (USD) ACC","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","SMHX":"VanEck Fabless Semiconductor ETF","LU2294711713.HKD":"BNP PARIBAS ENERGY TRANSITION \"C\" (HKD) ACC","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU0080751232.USD":"富达环球多元动力基金A","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","LU2097344431.USD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (USDHDG) INC","LU0345769128.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) ACC","IE000Q6AESB8.SGD":"PIMCO BALANCED INCOME AND GROWTH \"A\" (SGDHDG) INC","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","TTXU":"Direxion Daily Technology Top 5 Bull 2X ETF","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","LU2097344357.USD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (USDHDG) ACC","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU1069344957.HKD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (HKD) INC","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","WISE":"THEMES GENERATIVE ARTIFICIAL INTELLIGENCE ETF","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","BK4532":"文艺复兴科技持仓","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","BK4534":"瑞士信贷持仓","LU2125909247.SGD":"Natixis Thematics Meta H-R/A SGD","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU0494093205.USD":"贝莱德ESG灵活多元资产A2 USD-H","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU1821325948.USD":"NINETY ONE GSF GLOBAL MACRO ALLOCATION \"A\" (USD) ACC","TRFK":"PACER DATA AND DIGITAL REVOLUTION ETF","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU1803068623.USD":"TEMPLETON GLOBAL CLIMATE CHANGE \"AH1\" (USDHDG) ACC","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","09388":"南方两倍做空英伟达-U","NVIW.SI":"NVDA 3xLongSG261006","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","LU0395794307.EUR":"JPM GLOBAL INCOME (DIV) \"A\" (EUR) INC","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","METV":"Roundhill Ball Metaverse ETF","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU2271345857.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (HKD) ACC","LU0345768740.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) INC","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","LU0082616367.USD":"摩根大通美国科技A（dist）","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","09788":"南方两倍做多英伟达-U","LU2272731782.SGD":"Allianz Global Intelligent Cities AM Dis H2-SGD","NVD2.UK":"2X NVIDIA ETP","SG9999002232.USD":"Allianz Global High Payout USD","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","NVD3.UK":"LS 3X NVIDIA","LU2272731600.USD":"Allianz Global Intelligent Cities AM Dis USD","LU1003077747.HKD":"BGF GLOBAL EQUITY INCOME \"A6\" (HKDHDG) INC","LU1645745479.HKD":"ALLIANZ EUROPE INCOME AND GROWTH \"AM\" (HKDHDG) INC","LU0347712357.USD":"BNP PARIBAS GLOBAL ENVIRONMENT \"C\" (USD) ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","SG9999002224.SGD":"Allianz Global High Payout SGD","NVDS.UK":"LS -1X NVIDIA","LU2083900584.USD":"HSBC GIF US INCOME FOCUSED \"AM2\" (USD) INC","SG9999015341.SGD":"United Income Focus Trust Acc SGD-H","LU0472753341.HKD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (HKD) ACC","IE00B3SWFQ91.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) INC","LU1066051811.HKD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (HKD) INC","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","LU1127390331.HKD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A\" (HKD) ACC","LU1400636491.USD":"Allianz Europe Income and Growth Cl AMg DIS H2-USD","LU2242649171.HKD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (HKD) ACC","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","LU1623119135.USD":"Natixis Mirova Global Sustainable Equity R-NPF/A USD","LU0107464264.USD":"abrdn SICAV I - GLOBAL INNOVATION EQUITY \"A\" (USD) ACC","LU1712237335.SGD":"Natixis Mirova Global Sustainable Equity H-R-NPF/A SGD","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU1880398471.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) ACC","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","LU2272731865.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AM\" (HKD) INC","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD"},"source_url":"https://wallstreetcn.com/articles/3783308","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2674002860","content_text":"英伟达一个措辞上的细微变化，正在重塑投资者对这家芯片巨头财务健康状况的理解。\n今年9月28日，英伟达宣布将股票回购授权规模扩大1500亿美元至2350亿美元，并在公告中悄然嵌入一句关键表述——\"我们将以净超出战略用途的自由现金流（excess free cash flow net of strategic uses）形式回馈股东\"。据《华尔街日报》报道，这句话实质上是在向投资者发出信号：英伟达对外的股权投资，同样会压缩可用于回购和分红的现金。这一表述几乎未引发市场关注，但其背后的财务逻辑影响深远。\n若将英伟达的战略股权投资及股权激励相关现金支出纳入计算，其今年上半财年的实际自由现金流将从官方口径的699亿美元骤降至约217亿美元——缩水近七成。与此同时，英伟达在同期斥资约310亿美元用于超出维持股本不变所需的额外回购，并新增长期债务249亿美元至324亿美元，部分依赖举债来支撑回购力度。这一组合引发外界对其回购可持续性的质疑。\n“净战略用途”：一句话改变回购逻辑\n英伟达此次措辞调整的核心，在于将战略股权投资纳入自由现金流的扣减范畴。\n传统意义上，自由现金流通常以经营活动现金流减去资本支出（capex）计算，被视为企业在维持运营后可自由支配的现金代理指标。然而，英伟达的资本支出形态已不局限于厂房设备，还延伸至对AI生态系统内企业的股权投资。\n英伟达披露，截至目前，公司持有13家上市公司及229家私营公司的股权，涵盖数据中心建设、AI模型开发、能源供应及硬件制造等领域，其中包括OpenAI和Anthropic等知名AI企业。英伟达将上述投资定性为“战略性”而非“可选择性”，认为这些投资有助于加速其计算平台及整体AI市场的发展。\n值得注意的是，这些被投企业同时也是英伟达芯片的买家，形成一种循环动态——英伟达向其注资，被投企业再用这些资金购买英伟达产品。这一循环结构已引发市场对AI繁荣可持续性的担忧。\n数字背后：自由现金流被高估多少？\n英伟达并未正式修改自由现金流的定义，官方仍沿用传统公式。但实际数字的差距触目惊心。\n据《华尔街日报》分析，在截至今年7月26日的上半财年内：\n\n\n英伟达用于购买股权投资的现金流出为424亿美元，出售所得为72亿美元，净流出达352亿美元；\n\n\n若将上述净流出视同资本支出处理，英伟达自由现金流将从699亿美元减半至347亿美元；\n\n\n此外，员工股权激励相关的现金支出同样未被纳入传统自由现金流计算。同期，英伟达为员工股票归属支付的现金预扣税款达45亿美元，另有约90亿美元的回购用于对冲股权激励带来的股本稀释；\n\n\n扣除员工股权激励相关现金支出后，再叠加股权投资净流出，英伟达上半财年的调整后自由现金流约为217亿美元，较官方口径缩水约69%。\n\n\n与此同时，英伟达在同期新增长期债务249亿美元，这在一定程度上解释了公司如何在战略投资和股权激励吸收大量现金的情况下，仍维持了可观的额外回购规模。\n2350亿回购授权：华尔街预期能否兑现？\n英伟达2350亿美元的回购授权规模庞大，兑现需要持续强劲的现金流支撑。\n据Visible Alpha汇编的华尔街分析师预测数据，英伟达在2028财年（截至2028年1月）的自由现金流均值预期超过3300亿美元，理论上足以覆盖全部回购授权及分红支出。\n然而，英伟达自身已通过措辞调整暗示，未来仍需持续向被投企业注入大量资金。若战略股权投资规模维持高位，调整后的实际可分配现金流将远低于传统口径下的预测数字，回购计划的实际执行空间也将相应收窄。\n信息披露：英伟达领先同行，但仍不够\n在信息透明度方面，英伟达已率先做出改进。\n英伟达上季度调整了现金流量表的列报方式，将债务类证券与股权类证券在投资活动项下完全分开披露（其持有的债务证券均为美国国债或机构债券），使投资者得以自行进行上述调整。\n相比之下，微软、亚马逊及谷歌母公司Alphabet均将债务投资与股权投资合并列报，令投资者难以进行同类拆分。《华尔街日报》认为，其他公司应效仿英伟达的做法。\n但即便如此，英伟达的披露改进仍只是起点。自由现金流的真实面貌远比表面复杂，投资者需要现金流量表提供更高程度的透明度，才能准确评估这家AI时代最重要芯片公司的真实财务状况与回购能力。","news_type":1,"symbols_score_info":{"TYLG":0.6,"NVDQ":0.6,"NVC":0.6,"NVDD":0.6,"CMAG":0.6,"THMR":0.6,"NVDG":0.6,"NVIW.SI":0.6,"NVDA":1.97,"TTXU":0.6,"NVDW":0.6,"ESUM":0.6,"SOXY":0.6,"FTEC":0.6,"NVYY":0.6,"SNVDAmain":0.6,"LFGY":0.6,"GAMR":0.6,"NVDB":0.6,"SPTE":0.6,"USD":0.6,"TTEQ":0.6,"VT":0.6,"NVDU":0.6,"FDTX":0.6,"CHPX":0.6,"NVDL":0.6,"NVII":0.6,"EFIV":0.6,"DIPS":0.6,"SMH":0.6,"USXF":0.6,"IETC":0.6,"ILDR":0.6,"07788":0.6,"ANV":0.6,"NVDS":0.6,"METV":0.6,"NVD3.UK":0.6,"NVDS.UK":0.6,"07388":0.6,"IXN":0.6,"SOXX":0.6,"CLSE":0.6,"ESLG":0.6,"09788":0.6,"VGT":0.6,"09388":0.6,"AIPI":0.6,"NVDO":0.6,"3NVD.UK":0.6,"XLK":0.6,"NVDY":0.6,"AIFD":0.6,"SNVD.UK":0.6,"NVD2.UK":0.6,"CHAT":0.6,"SNPE":0.6,"ROM":0.6,"SMHX":0.6,"TEK":0.6,"NVD":0.6,"TRFK":0.6,"JGRO":0.6,"2NVD.UK":0.6,"ARTY":0.6,"NULC":0.6,"SHOC":0.6,"NVDX":0.6,"FAI":0.6,"CNEQ":0.6,"SOXQ":0.6,"AGOX":0.6,"WISE":0.6}},"isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":460230275526904,"gmtCreate":1753369864019,"gmtModify":1753369865322,"author":{"id":"4200961418214362","authorId":"4200961418214362","name":"胜者为王18","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4200961418214362","idStr":"4200961418214362"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$特斯拉(TSLA)$&nbsp;</a><v-v data-views=\"1\"></v-v> 月底350还是有希望的[强]&nbsp;&nbsp;","listText":"<a href=\"https://laohu8.com/S/TSLA\">$特斯拉(TSLA)$&nbsp;</a><v-v data-views=\"1\"></v-v> 月底350还是有希望的[强]&nbsp;&nbsp;","text":"$特斯拉(TSLA)$ 月底350还是有希望的[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/460230275526904","isVote":1,"tweetType":1,"viewCount":2350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":412291459424448,"gmtCreate":1741677834692,"gmtModify":1741677836126,"author":{"id":"4200961418214362","authorId":"4200961418214362","name":"胜者为王18","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4200961418214362","idStr":"4200961418214362"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/HIMS\">$Hims &amp; Hers Health Inc.(HIMS)$&nbsp;</a><v-v data-views=\"1\"></v-v> 保持住心态，别把自己给干崩溃了！","listText":"<a href=\"https://laohu8.com/S/HIMS\">$Hims &amp; Hers Health Inc.(HIMS)$&nbsp;</a><v-v data-views=\"1\"></v-v> 保持住心态，别把自己给干崩溃了！","text":"$Hims & Hers Health Inc.(HIMS)$ 保持住心态，别把自己给干崩溃了！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/412291459424448","isVote":1,"tweetType":1,"viewCount":3117,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":412071021260880,"gmtCreate":1741623462071,"gmtModify":1741624095453,"author":{"id":"4200961418214362","authorId":"4200961418214362","name":"胜者为王18","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4200961418214362","idStr":"4200961418214362"},"themes":[],"title":"","htmlText":"Replying to <a href=\"https://laohu8.com/U/3537739548105956\">@爱吃小鱼鱼的猴子</a>:跌到底才有反弹，慌啥呢？//<a href=\"https://laohu8.com/U/3537739548105956\">@爱吃小鱼鱼的猴子</a>:跌破100估计就恐慌了","listText":"Replying to <a href=\"https://laohu8.com/U/3537739548105956\">@爱吃小鱼鱼的猴子</a>:跌到底才有反弹，慌啥呢？//<a href=\"https://laohu8.com/U/3537739548105956\">@爱吃小鱼鱼的猴子</a>:跌破100估计就恐慌了","text":"Replying to @爱吃小鱼鱼的猴子:跌到底才有反弹，慌啥呢？//@爱吃小鱼鱼的猴子:跌破100估计就恐慌了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/412071021260880","isVote":1,"tweetType":1,"viewCount":2670,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":410630090678480,"gmtCreate":1741279754150,"gmtModify":1741279981598,"author":{"id":"4200961418214362","authorId":"4200961418214362","name":"胜者为王18","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4200961418214362","idStr":"4200961418214362"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$特斯拉(TSLA)$&nbsp;</a><v-v data-views=\"0\"></v-v> 挤挤泡沫，相信马斯克不会任人宰割，抛掉捣乱的民主党的股东，虽然双方都有损失，但减减肥甩掉包袱更健康！相信不久的时间后特斯拉会再次辉煌！","listText":"<a href=\"https://laohu8.com/S/TSLA\">$特斯拉(TSLA)$&nbsp;</a><v-v data-views=\"0\"></v-v> 挤挤泡沫，相信马斯克不会任人宰割，抛掉捣乱的民主党的股东，虽然双方都有损失，但减减肥甩掉包袱更健康！相信不久的时间后特斯拉会再次辉煌！","text":"$特斯拉(TSLA)$ 挤挤泡沫，相信马斯克不会任人宰割，抛掉捣乱的民主党的股东，虽然双方都有损失，但减减肥甩掉包袱更健康！相信不久的时间后特斯拉会再次辉煌！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/410630090678480","isVote":1,"tweetType":1,"viewCount":5020,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4188550895709712","authorId":"4188550895709712","name":"鑫870323","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4188550895709712","idStr":"4188550895709712"},"content":"你说的不久是多久，还是永远","text":"你说的不久是多久，还是永远","html":"你说的不久是多久，还是永远"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":410624518955288,"gmtCreate":1741278983153,"gmtModify":1741279235434,"author":{"id":"4200961418214362","authorId":"4200961418214362","name":"胜者为王18","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4200961418214362","idStr":"4200961418214362"},"themes":[],"title":"","htmlText":"美股市场的基本面变化不大，庄家想获利了结重新上菜再吃一遍，这就是回调的基本原则！再次大涨是必然的！","listText":"美股市场的基本面变化不大，庄家想获利了结重新上菜再吃一遍，这就是回调的基本原则！再次大涨是必然的！","text":"美股市场的基本面变化不大，庄家想获利了结重新上菜再吃一遍，这就是回调的基本原则！再次大涨是必然的！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/410624518955288","repostId":"1114917406","repostType":4,"repost":{"id":"1114917406","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1741219195,"share":"https://www.laohunote.com/m/news/1114917406?lang=zh_CN&edition=full","pubTime":"2025-03-06 07:59","market":"us","language":"zh","title":"Tom Lee：现在应该买入美股！市场已经消化各种坏消息，接下来三个月很可能是大涨月","url":"https://stock-news.laohu8.com/highlight/detail?id=1114917406","media":"老虎资讯综合","summary":"Fundstrat Global Advisors的研究主管Tom Lee说，现在股市值得买进，因为很多坏消息已经反映在股价裡了，接下来几个月可能会大涨。Tom Lee甚至觉得，三、四、五月很可能会变成“大涨月”，股市可能涨10%到15%。他认为市场已经历了一波情绪上的熊市，之前那种追涨的势头也退潮了。Tom Lee还是说他要买。","content":"<html><head></head><body><p>Fundstrat Global Advisors的研究主管Tom Lee说，现在股市值得买进，因为很多坏消息已经反映在股价裡了，接下来几个月可能会大涨。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/752f6cea56ce188bd8249aef152b377f\" tg-width=\"560\" tg-height=\"240\"/></p><p>周三在CNBC的节目上称：“我很乐观。我能理解为什麽投资者现在不敢动手……他们不清楚这些关税会有多严重，会持续多久。”他接著说：“但现在我们看到股价大跌，大家的情绪也低落。像今天这样，ADP就业报告很糟，但市场居然还涨了。这说明股市在坏消息中上涨，是个好兆头，代表很多坏消息已经被消化了。”</p><p>Tom Lee甚至觉得，三、四、五月很可能会变成“大涨月”，股市可能涨10%到15%。他认为市场已经历了一波情绪上的熊市，之前那种追涨的势头也退潮了。本周，三大指数在月初都跌了超过1%，因为特朗普总统的关税政策，加上对美国商品的报复性关税，让投资者心情沉重，对未来利润也没信心。标普500今年到现在跌了1.5%，纳斯达克一度从高点跌了10%，进入了修正区。</p><p><strong>是否会买进？</strong></p><p>Tom Lee还是说他要买。周三，三大指数都反弹了，从连跌两天的低谷爬起来，因为白宫对汽车行业做出了一些让步，安抚了投资者。</p><p>他说：“我们早就知道，股市会在坏消息到顶前先触底。所以，如果现在坏消息出来市场没崩，那就说明很多吓人的东西已经被算进去了。”</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a4996c8c8e7d16904928c94888f94e30\" tg-width=\"768\" tg-height=\"149\"/></p><p></p><p></p></body></html>","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>Tom Lee：现在应该买入美股！市场已经消化各种坏消息，接下来三个月很可能是大涨月</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\">\nTom Lee：现在应该买入美股！市场已经消化各种坏消息，接下来三个月很可能是大涨月\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2025-03-06 07:59</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Fundstrat Global Advisors的研究主管Tom Lee说，现在股市值得买进，因为很多坏消息已经反映在股价裡了，接下来几个月可能会大涨。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/752f6cea56ce188bd8249aef152b377f\" tg-width=\"560\" tg-height=\"240\"/></p><p>周三在CNBC的节目上称：“我很乐观。我能理解为什麽投资者现在不敢动手……他们不清楚这些关税会有多严重，会持续多久。”他接著说：“但现在我们看到股价大跌，大家的情绪也低落。像今天这样，ADP就业报告很糟，但市场居然还涨了。这说明股市在坏消息中上涨，是个好兆头，代表很多坏消息已经被消化了。”</p><p>Tom Lee甚至觉得，三、四、五月很可能会变成“大涨月”，股市可能涨10%到15%。他认为市场已经历了一波情绪上的熊市，之前那种追涨的势头也退潮了。本周，三大指数在月初都跌了超过1%，因为特朗普总统的关税政策，加上对美国商品的报复性关税，让投资者心情沉重，对未来利润也没信心。标普500今年到现在跌了1.5%，纳斯达克一度从高点跌了10%，进入了修正区。</p><p><strong>是否会买进？</strong></p><p>Tom Lee还是说他要买。周三，三大指数都反弹了，从连跌两天的低谷爬起来，因为白宫对汽车行业做出了一些让步，安抚了投资者。</p><p>他说：“我们早就知道，股市会在坏消息到顶前先触底。所以，如果现在坏消息出来市场没崩，那就说明很多吓人的东西已经被算进去了。”</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a4996c8c8e7d16904928c94888f94e30\" tg-width=\"768\" tg-height=\"149\"/></p><p></p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/347452cc99fb488c45ccd900fcf3aa20","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114917406","content_text":"Fundstrat Global Advisors的研究主管Tom Lee说，现在股市值得买进，因为很多坏消息已经反映在股价裡了，接下来几个月可能会大涨。周三在CNBC的节目上称：“我很乐观。我能理解为什麽投资者现在不敢动手……他们不清楚这些关税会有多严重，会持续多久。”他接著说：“但现在我们看到股价大跌，大家的情绪也低落。像今天这样，ADP就业报告很糟，但市场居然还涨了。这说明股市在坏消息中上涨，是个好兆头，代表很多坏消息已经被消化了。”Tom Lee甚至觉得，三、四、五月很可能会变成“大涨月”，股市可能涨10%到15%。他认为市场已经历了一波情绪上的熊市，之前那种追涨的势头也退潮了。本周，三大指数在月初都跌了超过1%，因为特朗普总统的关税政策，加上对美国商品的报复性关税，让投资者心情沉重，对未来利润也没信心。标普500今年到现在跌了1.5%，纳斯达克一度从高点跌了10%，进入了修正区。是否会买进？Tom Lee还是说他要买。周三，三大指数都反弹了，从连跌两天的低谷爬起来，因为白宫对汽车行业做出了一些让步，安抚了投资者。他说：“我们早就知道，股市会在坏消息到顶前先触底。所以，如果现在坏消息出来市场没崩，那就说明很多吓人的东西已经被算进去了。”","news_type":1,"symbols_score_info":{".SPX":1.1,".IXIC":1.1,".DJI":1.1}},"isVote":1,"tweetType":1,"viewCount":4408,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":410545256518128,"gmtCreate":1741259624894,"gmtModify":1741266524812,"author":{"id":"4200961418214362","authorId":"4200961418214362","name":"胜者为王18","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4200961418214362","idStr":"4200961418214362"},"themes":[],"title":"","htmlText":"长久看特斯拉的产业链比较长，市场适应能力较强，很多现在效益不高的产业在未来很可能产生出来较高的市场效应！而英伟达市场业务面相比较窄，自身突破需要较高的研发成本，如果有其他公司突破性的产品能以更低的成本取代，英伟达就危险了⚠️","listText":"长久看特斯拉的产业链比较长，市场适应能力较强，很多现在效益不高的产业在未来很可能产生出来较高的市场效应！而英伟达市场业务面相比较窄，自身突破需要较高的研发成本，如果有其他公司突破性的产品能以更低的成本取代，英伟达就危险了⚠️","text":"长久看特斯拉的产业链比较长，市场适应能力较强，很多现在效益不高的产业在未来很可能产生出来较高的市场效应！而英伟达市场业务面相比较窄，自身突破需要较高的研发成本，如果有其他公司突破性的产品能以更低的成本取代，英伟达就危险了⚠️","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/410545256518128","isVote":1,"tweetType":1,"viewCount":5354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":410630090678480,"gmtCreate":1741279754150,"gmtModify":1741279981598,"author":{"id":"4200961418214362","authorId":"4200961418214362","name":"胜者为王18","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4200961418214362","idStr":"4200961418214362"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$特斯拉(TSLA)$&nbsp;</a><v-v data-views=\"0\"></v-v> 挤挤泡沫，相信马斯克不会任人宰割，抛掉捣乱的民主党的股东，虽然双方都有损失，但减减肥甩掉包袱更健康！相信不久的时间后特斯拉会再次辉煌！","listText":"<a href=\"https://laohu8.com/S/TSLA\">$特斯拉(TSLA)$&nbsp;</a><v-v data-views=\"0\"></v-v> 挤挤泡沫，相信马斯克不会任人宰割，抛掉捣乱的民主党的股东，虽然双方都有损失，但减减肥甩掉包袱更健康！相信不久的时间后特斯拉会再次辉煌！","text":"$特斯拉(TSLA)$ 挤挤泡沫，相信马斯克不会任人宰割，抛掉捣乱的民主党的股东，虽然双方都有损失，但减减肥甩掉包袱更健康！相信不久的时间后特斯拉会再次辉煌！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/410630090678480","isVote":1,"tweetType":1,"viewCount":5020,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4188550895709712","authorId":"4188550895709712","name":"鑫870323","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4188550895709712","idStr":"4188550895709712"},"content":"你说的不久是多久，还是永远","text":"你说的不久是多久，还是永远","html":"你说的不久是多久，还是永远"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":410545256518128,"gmtCreate":1741259624894,"gmtModify":1741266524812,"author":{"id":"4200961418214362","authorId":"4200961418214362","name":"胜者为王18","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4200961418214362","idStr":"4200961418214362"},"themes":[],"title":"","htmlText":"长久看特斯拉的产业链比较长，市场适应能力较强，很多现在效益不高的产业在未来很可能产生出来较高的市场效应！而英伟达市场业务面相比较窄，自身突破需要较高的研发成本，如果有其他公司突破性的产品能以更低的成本取代，英伟达就危险了⚠️","listText":"长久看特斯拉的产业链比较长，市场适应能力较强，很多现在效益不高的产业在未来很可能产生出来较高的市场效应！而英伟达市场业务面相比较窄，自身突破需要较高的研发成本，如果有其他公司突破性的产品能以更低的成本取代，英伟达就危险了⚠️","text":"长久看特斯拉的产业链比较长，市场适应能力较强，很多现在效益不高的产业在未来很可能产生出来较高的市场效应！而英伟达市场业务面相比较窄，自身突破需要较高的研发成本，如果有其他公司突破性的产品能以更低的成本取代，英伟达就危险了⚠️","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/410545256518128","isVote":1,"tweetType":1,"viewCount":5354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":460230275526904,"gmtCreate":1753369864019,"gmtModify":1753369865322,"author":{"id":"4200961418214362","authorId":"4200961418214362","name":"胜者为王18","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4200961418214362","idStr":"4200961418214362"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$特斯拉(TSLA)$&nbsp;</a><v-v data-views=\"1\"></v-v> 月底350还是有希望的[强]&nbsp;&nbsp;","listText":"<a href=\"https://laohu8.com/S/TSLA\">$特斯拉(TSLA)$&nbsp;</a><v-v data-views=\"1\"></v-v> 月底350还是有希望的[强]&nbsp;&nbsp;","text":"$特斯拉(TSLA)$ 月底350还是有希望的[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/460230275526904","isVote":1,"tweetType":1,"viewCount":2350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":410624518955288,"gmtCreate":1741278983153,"gmtModify":1741279235434,"author":{"id":"4200961418214362","authorId":"4200961418214362","name":"胜者为王18","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4200961418214362","idStr":"4200961418214362"},"themes":[],"title":"","htmlText":"美股市场的基本面变化不大，庄家想获利了结重新上菜再吃一遍，这就是回调的基本原则！再次大涨是必然的！","listText":"美股市场的基本面变化不大，庄家想获利了结重新上菜再吃一遍，这就是回调的基本原则！再次大涨是必然的！","text":"美股市场的基本面变化不大，庄家想获利了结重新上菜再吃一遍，这就是回调的基本原则！再次大涨是必然的！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/410624518955288","repostId":"1114917406","repostType":4,"repost":{"id":"1114917406","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1741219195,"share":"https://www.laohunote.com/m/news/1114917406?lang=zh_CN&edition=full","pubTime":"2025-03-06 07:59","market":"us","language":"zh","title":"Tom Lee：现在应该买入美股！市场已经消化各种坏消息，接下来三个月很可能是大涨月","url":"https://stock-news.laohu8.com/highlight/detail?id=1114917406","media":"老虎资讯综合","summary":"Fundstrat Global Advisors的研究主管Tom Lee说，现在股市值得买进，因为很多坏消息已经反映在股价裡了，接下来几个月可能会大涨。Tom Lee甚至觉得，三、四、五月很可能会变成“大涨月”，股市可能涨10%到15%。他认为市场已经历了一波情绪上的熊市，之前那种追涨的势头也退潮了。Tom Lee还是说他要买。","content":"<html><head></head><body><p>Fundstrat Global Advisors的研究主管Tom Lee说，现在股市值得买进，因为很多坏消息已经反映在股价裡了，接下来几个月可能会大涨。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/752f6cea56ce188bd8249aef152b377f\" tg-width=\"560\" tg-height=\"240\"/></p><p>周三在CNBC的节目上称：“我很乐观。我能理解为什麽投资者现在不敢动手……他们不清楚这些关税会有多严重，会持续多久。”他接著说：“但现在我们看到股价大跌，大家的情绪也低落。像今天这样，ADP就业报告很糟，但市场居然还涨了。这说明股市在坏消息中上涨，是个好兆头，代表很多坏消息已经被消化了。”</p><p>Tom Lee甚至觉得，三、四、五月很可能会变成“大涨月”，股市可能涨10%到15%。他认为市场已经历了一波情绪上的熊市，之前那种追涨的势头也退潮了。本周，三大指数在月初都跌了超过1%，因为特朗普总统的关税政策，加上对美国商品的报复性关税，让投资者心情沉重，对未来利润也没信心。标普500今年到现在跌了1.5%，纳斯达克一度从高点跌了10%，进入了修正区。</p><p><strong>是否会买进？</strong></p><p>Tom Lee还是说他要买。周三，三大指数都反弹了，从连跌两天的低谷爬起来，因为白宫对汽车行业做出了一些让步，安抚了投资者。</p><p>他说：“我们早就知道，股市会在坏消息到顶前先触底。所以，如果现在坏消息出来市场没崩，那就说明很多吓人的东西已经被算进去了。”</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a4996c8c8e7d16904928c94888f94e30\" tg-width=\"768\" tg-height=\"149\"/></p><p></p><p></p></body></html>","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>Tom Lee：现在应该买入美股！市场已经消化各种坏消息，接下来三个月很可能是大涨月</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\">\nTom Lee：现在应该买入美股！市场已经消化各种坏消息，接下来三个月很可能是大涨月\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2025-03-06 07:59</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Fundstrat Global Advisors的研究主管Tom Lee说，现在股市值得买进，因为很多坏消息已经反映在股价裡了，接下来几个月可能会大涨。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/752f6cea56ce188bd8249aef152b377f\" tg-width=\"560\" tg-height=\"240\"/></p><p>周三在CNBC的节目上称：“我很乐观。我能理解为什麽投资者现在不敢动手……他们不清楚这些关税会有多严重，会持续多久。”他接著说：“但现在我们看到股价大跌，大家的情绪也低落。像今天这样，ADP就业报告很糟，但市场居然还涨了。这说明股市在坏消息中上涨，是个好兆头，代表很多坏消息已经被消化了。”</p><p>Tom Lee甚至觉得，三、四、五月很可能会变成“大涨月”，股市可能涨10%到15%。他认为市场已经历了一波情绪上的熊市，之前那种追涨的势头也退潮了。本周，三大指数在月初都跌了超过1%，因为特朗普总统的关税政策，加上对美国商品的报复性关税，让投资者心情沉重，对未来利润也没信心。标普500今年到现在跌了1.5%，纳斯达克一度从高点跌了10%，进入了修正区。</p><p><strong>是否会买进？</strong></p><p>Tom Lee还是说他要买。周三，三大指数都反弹了，从连跌两天的低谷爬起来，因为白宫对汽车行业做出了一些让步，安抚了投资者。</p><p>他说：“我们早就知道，股市会在坏消息到顶前先触底。所以，如果现在坏消息出来市场没崩，那就说明很多吓人的东西已经被算进去了。”</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a4996c8c8e7d16904928c94888f94e30\" tg-width=\"768\" tg-height=\"149\"/></p><p></p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/347452cc99fb488c45ccd900fcf3aa20","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114917406","content_text":"Fundstrat Global Advisors的研究主管Tom Lee说，现在股市值得买进，因为很多坏消息已经反映在股价裡了，接下来几个月可能会大涨。周三在CNBC的节目上称：“我很乐观。我能理解为什麽投资者现在不敢动手……他们不清楚这些关税会有多严重，会持续多久。”他接著说：“但现在我们看到股价大跌，大家的情绪也低落。像今天这样，ADP就业报告很糟，但市场居然还涨了。这说明股市在坏消息中上涨，是个好兆头，代表很多坏消息已经被消化了。”Tom Lee甚至觉得，三、四、五月很可能会变成“大涨月”，股市可能涨10%到15%。他认为市场已经历了一波情绪上的熊市，之前那种追涨的势头也退潮了。本周，三大指数在月初都跌了超过1%，因为特朗普总统的关税政策，加上对美国商品的报复性关税，让投资者心情沉重，对未来利润也没信心。标普500今年到现在跌了1.5%，纳斯达克一度从高点跌了10%，进入了修正区。是否会买进？Tom Lee还是说他要买。周三，三大指数都反弹了，从连跌两天的低谷爬起来，因为白宫对汽车行业做出了一些让步，安抚了投资者。他说：“我们早就知道，股市会在坏消息到顶前先触底。所以，如果现在坏消息出来市场没崩，那就说明很多吓人的东西已经被算进去了。”","news_type":1,"symbols_score_info":{".SPX":1.1,".IXIC":1.1,".DJI":1.1}},"isVote":1,"tweetType":1,"viewCount":4408,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":616784070389896,"gmtCreate":1791601306984,"gmtModify":1791601308804,"author":{"id":"4200961418214362","authorId":"4200961418214362","name":"胜者为王18","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4200961418214362","idStr":"4200961418214362"},"themes":[],"title":"","htmlText":"M","listText":"M","text":"M","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/616784070389896","repostId":"2674002860","repostType":2,"repost":{"id":"2674002860","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1791594609,"share":"https://www.laohunote.com/m/news/2674002860?lang=zh_CN&edition=full","pubTime":"2026-10-10 09:10","market":"sh","language":"zh","title":"英伟达悄然重新定义自由现金流，千亿回购计划暗藏水分？","url":"https://stock-news.laohu8.com/highlight/detail?id=2674002860","media":"华尔街见闻","summary":"英伟达将对OpenAI、Anthropic等242家企业的股权投资列为\"战略用途\"，从自由现金流中扣除。经此调整，上半财年自由现金流从官方口径699亿美元骤降至217亿美元，缩水近七成。与此同时，公司新增249亿美元长期债务以支撑回购，2350亿美元回购计划的可持续性存疑。","content":"<html><head></head><body><p>英伟达一个措辞上的细微变化，正在重塑投资者对这家芯片巨头财务健康状况的理解。</p>\n<p>今年9月28日，英伟达宣布将股票回购授权规模扩大1500亿美元至2350亿美元，并在公告中悄然嵌入一句关键表述——<strong>&#34;我们将以净超出战略用途的自由现金流（excess free cash flow net of strategic uses）形式回馈股东&#34;</strong>。据《华尔街日报》报道，这句话实质上是在向投资者发出信号：<strong>英伟达对外的股权投资，同样会压缩可用于回购和分红的现金。</strong>这一表述几乎未引发市场关注，但其背后的财务逻辑影响深远。</p>\n<p><strong>若将英伟达的战略股权投资及股权激励相关现金支出纳入计算，其今年上半财年的实际自由现金流将从官方口径的699亿美元骤降至约217亿美元——缩水近七成。</strong>与此同时，英伟达在同期斥资约310亿美元用于超出维持股本不变所需的额外回购，并新增长期债务249亿美元至324亿美元，部分依赖举债来支撑回购力度。这一组合引发外界对其回购可持续性的质疑。</p>\n<h2>“净战略用途”：一句话改变回购逻辑</h2>\n<p>英伟达此次措辞调整的核心，在于将战略股权投资纳入自由现金流的扣减范畴。</p>\n<p>传统意义上，自由现金流通常以经营活动现金流减去资本支出（capex）计算，被视为企业在维持运营后可自由支配的现金代理指标。然而，英伟达的资本支出形态已不局限于厂房设备，还延伸至对AI生态系统内企业的股权投资。</p>\n<p>英伟达披露，截至目前，公司持有13家上市公司及229家私营公司的股权，涵盖数据中心建设、AI模型开发、能源供应及硬件制造等领域，其中包括OpenAI和Anthropic等知名AI企业。<strong>英伟达将上述投资定性为“战略性”而非“可选择性”，认为这些投资有助于加速其计算平台及整体AI市场的发展。</strong></p>\n<p>值得注意的是，这些被投企业同时也是英伟达芯片的买家，形成一种循环动态——英伟达向其注资，被投企业再用这些资金购买英伟达产品。这一循环结构已引发市场对AI繁荣可持续性的担忧。</p>\n<h2>数字背后：自由现金流被高估多少？</h2>\n<p><strong>英伟达并未正式修改自由现金流的定义，官方仍沿用传统公式。但实际数字的差距触目惊心。</strong></p>\n<p>据《华尔街日报》分析，在截至今年7月26日的上半财年内：</p>\n<ul>\n<li>\n<p>英伟达用于购买股权投资的现金流出为<strong>424亿美元</strong>，出售所得为72亿美元，<strong>净流出达352亿美元</strong>；</p>\n</li>\n<li>\n<p>若将上述净流出视同资本支出处理，英伟达自由现金流将从<strong>699亿美元减半至347亿美元</strong>；</p>\n</li>\n<li>\n<p>此外，员工股权激励相关的现金支出同样未被纳入传统自由现金流计算。同期，英伟达为员工股票归属支付的现金预扣税款达<strong>45亿美元</strong>，另有约<strong>90亿美元</strong>的回购用于对冲股权激励带来的股本稀释；</p>\n</li>\n<li>\n<p>扣除员工股权激励相关现金支出后，再叠加股权投资净流出，<strong>英伟达上半财年的调整后自由现金流约为217亿美元</strong>，较官方口径缩水约69%。</p>\n</li>\n</ul>\n<p>与此同时，英伟达在同期新增长期债务249亿美元，这在一定程度上解释了公司如何在战略投资和股权激励吸收大量现金的情况下，仍维持了可观的额外回购规模。</p>\n<h2>2350亿回购授权：华尔街预期能否兑现？</h2>\n<p>英伟达2350亿美元的回购授权规模庞大，兑现需要持续强劲的现金流支撑。</p>\n<p>据Visible Alpha汇编的华尔街分析师预测数据，英伟达在2028财年（截至2028年1月）的自由现金流均值预期超过<strong>3300亿美元</strong>，理论上足以覆盖全部回购授权及分红支出。</p>\n<p>然而，英伟达自身已通过措辞调整暗示，<strong>未来仍需持续向被投企业注入大量资金。</strong>若战略股权投资规模维持高位，调整后的实际可分配现金流将远低于传统口径下的预测数字，回购计划的实际执行空间也将相应收窄。</p>\n<h2>信息披露：英伟达领先同行，但仍不够</h2>\n<p>在信息透明度方面，英伟达已率先做出改进。</p>\n<p>英伟达上季度调整了现金流量表的列报方式，<strong>将债务类证券与股权类证券在投资活动项下完全分开披露</strong>（其持有的债务证券均为美国国债或机构债券），使投资者得以自行进行上述调整。</p>\n<p>相比之下，微软、亚马逊及谷歌母公司Alphabet均将债务投资与股权投资合并列报，令投资者难以进行同类拆分。《华尔街日报》认为，其他公司应效仿英伟达的做法。</p>\n<p>但即便如此，英伟达的披露改进仍只是起点。<strong>自由现金流的真实面貌远比表面复杂，投资者需要现金流量表提供更高程度的透明度，才能准确评估这家AI时代最重要芯片公司的真实财务状况与回购能力。</strong></p></body></html>","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>英伟达悄然重新定义自由现金流，千亿回购计划暗藏水分？</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\">\n英伟达悄然重新定义自由现金流，千亿回购计划暗藏水分？\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-10-10 09:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>英伟达一个措辞上的细微变化，正在重塑投资者对这家芯片巨头财务健康状况的理解。</p>\n<p>今年9月28日，英伟达宣布将股票回购授权规模扩大1500亿美元至2350亿美元，并在公告中悄然嵌入一句关键表述——<strong>&#34;我们将以净超出战略用途的自由现金流（excess free cash flow net of strategic uses）形式回馈股东&#34;</strong>。据《华尔街日报》报道，这句话实质上是在向投资者发出信号：<strong>英伟达对外的股权投资，同样会压缩可用于回购和分红的现金。</strong>这一表述几乎未引发市场关注，但其背后的财务逻辑影响深远。</p>\n<p><strong>若将英伟达的战略股权投资及股权激励相关现金支出纳入计算，其今年上半财年的实际自由现金流将从官方口径的699亿美元骤降至约217亿美元——缩水近七成。</strong>与此同时，英伟达在同期斥资约310亿美元用于超出维持股本不变所需的额外回购，并新增长期债务249亿美元至324亿美元，部分依赖举债来支撑回购力度。这一组合引发外界对其回购可持续性的质疑。</p>\n<h2>“净战略用途”：一句话改变回购逻辑</h2>\n<p>英伟达此次措辞调整的核心，在于将战略股权投资纳入自由现金流的扣减范畴。</p>\n<p>传统意义上，自由现金流通常以经营活动现金流减去资本支出（capex）计算，被视为企业在维持运营后可自由支配的现金代理指标。然而，英伟达的资本支出形态已不局限于厂房设备，还延伸至对AI生态系统内企业的股权投资。</p>\n<p>英伟达披露，截至目前，公司持有13家上市公司及229家私营公司的股权，涵盖数据中心建设、AI模型开发、能源供应及硬件制造等领域，其中包括OpenAI和Anthropic等知名AI企业。<strong>英伟达将上述投资定性为“战略性”而非“可选择性”，认为这些投资有助于加速其计算平台及整体AI市场的发展。</strong></p>\n<p>值得注意的是，这些被投企业同时也是英伟达芯片的买家，形成一种循环动态——英伟达向其注资，被投企业再用这些资金购买英伟达产品。这一循环结构已引发市场对AI繁荣可持续性的担忧。</p>\n<h2>数字背后：自由现金流被高估多少？</h2>\n<p><strong>英伟达并未正式修改自由现金流的定义，官方仍沿用传统公式。但实际数字的差距触目惊心。</strong></p>\n<p>据《华尔街日报》分析，在截至今年7月26日的上半财年内：</p>\n<ul>\n<li>\n<p>英伟达用于购买股权投资的现金流出为<strong>424亿美元</strong>，出售所得为72亿美元，<strong>净流出达352亿美元</strong>；</p>\n</li>\n<li>\n<p>若将上述净流出视同资本支出处理，英伟达自由现金流将从<strong>699亿美元减半至347亿美元</strong>；</p>\n</li>\n<li>\n<p>此外，员工股权激励相关的现金支出同样未被纳入传统自由现金流计算。同期，英伟达为员工股票归属支付的现金预扣税款达<strong>45亿美元</strong>，另有约<strong>90亿美元</strong>的回购用于对冲股权激励带来的股本稀释；</p>\n</li>\n<li>\n<p>扣除员工股权激励相关现金支出后，再叠加股权投资净流出，<strong>英伟达上半财年的调整后自由现金流约为217亿美元</strong>，较官方口径缩水约69%。</p>\n</li>\n</ul>\n<p>与此同时，英伟达在同期新增长期债务249亿美元，这在一定程度上解释了公司如何在战略投资和股权激励吸收大量现金的情况下，仍维持了可观的额外回购规模。</p>\n<h2>2350亿回购授权：华尔街预期能否兑现？</h2>\n<p>英伟达2350亿美元的回购授权规模庞大，兑现需要持续强劲的现金流支撑。</p>\n<p>据Visible Alpha汇编的华尔街分析师预测数据，英伟达在2028财年（截至2028年1月）的自由现金流均值预期超过<strong>3300亿美元</strong>，理论上足以覆盖全部回购授权及分红支出。</p>\n<p>然而，英伟达自身已通过措辞调整暗示，<strong>未来仍需持续向被投企业注入大量资金。</strong>若战略股权投资规模维持高位，调整后的实际可分配现金流将远低于传统口径下的预测数字，回购计划的实际执行空间也将相应收窄。</p>\n<h2>信息披露：英伟达领先同行，但仍不够</h2>\n<p>在信息透明度方面，英伟达已率先做出改进。</p>\n<p>英伟达上季度调整了现金流量表的列报方式，<strong>将债务类证券与股权类证券在投资活动项下完全分开披露</strong>（其持有的债务证券均为美国国债或机构债券），使投资者得以自行进行上述调整。</p>\n<p>相比之下，微软、亚马逊及谷歌母公司Alphabet均将债务投资与股权投资合并列报，令投资者难以进行同类拆分。《华尔街日报》认为，其他公司应效仿英伟达的做法。</p>\n<p>但即便如此，英伟达的披露改进仍只是起点。<strong>自由现金流的真实面貌远比表面复杂，投资者需要现金流量表提供更高程度的透明度，才能准确评估这家AI时代最重要芯片公司的真实财务状况与回购能力。</strong></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3f1c866c487eb9e101f73a62d4495ce9","relate_stocks":{"SGXZ80539844.SGD":"ALLIANZ GLOBAL HIGH PAYOUT \"AMI\" (H2-SGD) INC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU2028103732.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AMG\" (USD) INC","LU2491049909.HKD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (HKD) ACC","BK4503":"景林资产持仓","LU2491050071.SGD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (SGDHDG) ACC","LU0238689110.USD":"贝莱德环球动力股票基金","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","LU2322448791.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (USD) INC","LU1979441026.SGD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"A\" (SGDHDG) ACC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0072462426.USD":"贝莱德全球配置 A2","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","NVDA":"英伟达","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","LU2322448957.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (HKD) INC","LU2491050154.USD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (USD) ACC","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","IE0001KFT4U8.USD":"FTGF CLEARBRIDGE GLOBAL GROWTH LEADERS \"A\" (USD) INC","IE0009G5SDU7.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) INC","LU0048584097.USD":"FIDELITY FUNDS  GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) INC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU0138981039.USD":"FIDELITY FUNDS SUSTAINABLE MULTI ASSET INCOME \"A\" INC","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","IE000ITXATA3.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) ACC","LU2860962120.EUR":"CPR INVEST - ARTIFICIAL INTELLIGENCE \"A2\" (EUR) ACC A","LU1202635105.USD":"ALLIANZ EUROPE INCOME AND GROWTH \"AM\" (USDHDG) INC","IE000YTNTUN2.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG)INC","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","LU2237438978.USD":"Amundi Funds US Pioneer A2 (C) USD","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","IE00BDCRKT87.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC","LU1144417596.USD":"UBS (LUX) GLOBAL QUALITY DIVIDEND EQUITY \"Q\" (USD) INC","LU2473716301.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMF\" (USD) INC","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","CLSE":"Convergence Long/Short Equity ETF","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","SGXZ81514606.USD":"大华环球创新基金A Acc USD","SPTE":"SP FUNDS S&P GLOBAL TECHNOLOGY ETF","SNPE":"Xtrackers S&P 500 Scored & Screened ETF","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","LU0096362180.USD":"CT (LUX) I GLOBAL FOCUS \"DU\" (USD)","LU2552382058.USD":"WELLINGTON US BRAND POWER \"A\" (USD) ACC","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","LU2471134952.CNY":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (CNYHDG) INC","LU2471134879.HKD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (HKD) INC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","LU1935043452.HKD":"宏利环球多元资产收益 \"AA\" 基金（港元）派息","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","JGRO":"Jpmorgan Active Growth ETF","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","LU0861579265.USD":"联博低波幅策略股票基金A","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","LU1935042215.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (USD) INC A","CMAG":"Corgi Mag 7 ETF","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","LU0210536198.USD":"JPM US GROWTH \"A\" ACC","LU0187121727.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) INC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU2023251221.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (USD) INC","LU2896262040.SGD":"JPM US GROWTH FUND \"A\" (SGD) ACC","HK0000914686.HKD":"GFI Global Select Equity Fund Class A (HKD)","LU0898699433.AUD":"JPM GLOBAL INCOME \"A\" (AUDHDG) INC (M)","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","BK4581":"高盛持仓","HK0000914660.USD":"GFI Global Select Equity Fund Class A (USD)","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","LU1732800096.USD":"摩根大通环球收益基金A (irc)","IE00BZ199S13.USD":"BNY MELLON MOBILITY INNOVATION \"B\" (USD) ACC","LU2394011477.USD":"JPMORGAN CLIMATE CHANGE SOLUTIONS \"A\" (USD) ACC","LU2487616109.SGD":"JPM AMERICA EQUITY \"A\" (SGD) ACC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU0210528500.USD":"JPM AMERICA EQUITY \"A\" ACC","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","GAMR":"Amplify Video Game Leaders ETF","BK4579":"人工智能","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","SNVD.UK":"LS -1X NVIDIA","BK4592":"伊斯兰概念","LU2065169927.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) ACC","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","FTEC":"Fidelity MSCI Information Techno","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","LU2168564065.EUR":"AZ ALLOCATION - TREND \"AAZ\" (EUR) ACC","EFIV":"SPDR S&P 500 ESG ETF","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU1935042488.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (USD) INC","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (SGDHDG) INC","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","LU1778281490.HKD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (HKD) INC","LU2168564149.EUR":"AZ ALLOCATION - TREND \"BAZ\" (EUR) ACC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","NULC":"Nuveen ESG Large-Cap ETF","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","SOXQ":"Invesco PHLX Semiconductor ETF","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","LU1917777945.USD":"安联专题基金Cl AT Acc","LU0158827781.USD":" ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (USD) ACC","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","SOXX":"iShares费城交易所半导体ETF","CNEQ":"Alger Concentrated Equity ETF","LU1721428933.USD":"法巴全球经典环境基金RH MD Dis","LU2242650005.HKD":"FIDELITY FUNDS GLOBAL MULTI ASSET DYNAMIC \"A\" (HKD) ACC","SOXY":"YieldMax Target 12 Semiconductor Option Income ETF","SG9999014542.SGD":"United Income Focus Trust Acc SGD","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","USD":"ProShares Ultra Semiconductors","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","BK4598":"佩洛西持仓","LU2063271972.USD":"富兰克林创新领域基金","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU1400636574.HKD":"ALLIANZ EUROPE INCOME AND GROWTH \"AMG\" (HKDHDG) INC","VGT":"信息技术ETF-Vanguard","LU0345768153.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) ACC","LU2237443895.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) ACC","LU0557290698.USD":"施罗德环球可持续增长基金","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","LU1934455277.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"AD\" (USD) INC","NVC":"Corgi NVDA 2x Daily ETF","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","NVD":"2倍做空NVDA ETF-GraniteShares","LU1791710582.SGD":"Fidelity Global Demographics A-ACC-SGD (SGD/USD hedged)","LU1119994496.HKD":"FIDELITY WORLD \"A\" (HKD) ACC","LU1934455194.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (USD) ACC","LU1116320737.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (USD) INC","LFGY":"YieldMax Crypto Industry and Tech Portfolio Option Income ETF","NVDB":"ProShares Ultra NVDA ETF","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","3NVD.UK":"LS 3X NVIDIA","LU1791710400.SGD":"Fidelity Global Demographics A-ACC-SGD","NVDD":"1倍做空NVDA ETF-Direxion","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","LU0823414478.USD":"法巴经典能源转换基金","LU0056508442.USD":"贝莱德世界科技基金A2","NVDG":"2倍做多NVDA ETF- Leverage Shares","AGOX":"Adaptive Alpha Opportunities ETF","LU0323240290.USD":"HSBC GIF GLOBAL EQUITY CLIMATE CHANGE \"AD\" INC","SG9999001424.SGD":"United E-Commerce Fund SGD","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","NVDL":"2倍做多NVDA ETF-GraniteShares","BK4605":"半导体精选","LU1116320901.HKD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (HKD) INC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","NVDQ":"2倍做空NVDA ETF-T-Rex","CHAT":"ROUNDHILL GENERATIVE AI & TECHNOLOGY ETF","BK4608":"AI应用概念股","NVDS":"1.5倍做空NVDA ETF-Tradr","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","NVDU":"2倍做多NVDA ETF-Direxion","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","NVDW":"NVDA周配息ETF-Roundhill","LU0724617625.USD":"BGF GLOBAL ALLOCATION \"A4\" (USD) INC","LU1232071149.USD":"AZ FUND 1 GLOBAL GROWTH SELECTOR \"AAZ\" (USDHDG) ACC","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY  \"A4\" (USD) INC","VT":"世界全股市ETF-Vanguard","LU0310800379.SGD":"FTIF - Templeton Global A Acc SGD","NVDX":"2倍做多NVDA ETF-T-Rex","LU0788109477.HKD":"BGF GLOBAL ALLOCATION \"A2\" (HKDHGD) ACC","LU0210533765.USD":"JPM GLOBAL GROWTH \"A\" (USD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","LU2148611432.USD":"AZ ALLOCATION BALANCED BRAVE \"AAZ\" (USDHDG) ACC","NVDY":"NVDA期权收益策略ETF-YieldMax","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","ARTY":"ISHARES FUTURE AI & TECH ETF","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","NVII":"Rex NVDA Growth & Income ETF","IETC":"iShares U.S. Tech Independence Focused ETF","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0726765562.USD":"JPM GLOBAL INCOME \"A\" (USD HEDGED) INC","BK4612":"AI芯片","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU2381873111.SGD":"BGF SYSTEMATIC GLOBAL EQUITY HIGH INCOME \"A6\" (SGDHDG) INC","2NVD.UK":"2X NVIDIA ETP","LU2347655073.USD":"JPM GLOBAL INCOME \"A\" (USDHDG) INC A","BK4614":"Manus概念股","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU0070217475.USD":"JPM GLOBAL SELECT EQUITY \"A\" ACC","LU1880398554.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) INC","CHPX":"Global X AI Semiconductor & Quantum ETF","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU1670756490.USD":"ALLIANZ EUROPE INCOME AND GROWTH \"AT\" (USDHDG) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","LU1267930573.SGD":"TEMPLETON GLOBAL \"AA\" (SGD) ACC A","BK4141":"半导体产品","LU1691799644.USD":"Amundi Funds Polen Capital Global Growth A2 (C) USD","LU0965509283.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (SGDHDG) INC","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","ILDR":"First Trust Innovation Leaders ETF","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","NVYY":"GraniteShares YieldBOOST NVDA ETF","TEK":"iShares Technology Opportunities Active ETF","LU2279689827.SGD":"JPMorgan Investment Funds - Global Income Sustainable A (mth) SGD-H","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","SG9999014906.USD":"大华全球优质成长基金Acc USD","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","LU1868836757.USD":"CT (LUX) I AMERICAN FUND \"2\" (USD) ACC","LU0957791311.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"ZU\" (USD) ACC","AIFD":"TCW Artificial Intelligence ETF","ROM":"ProShares Ultra Technology","LU2087625088.SGD":"ALLSPRING  US ALL CAP GROWTH \"A\" (SGDHDG) ACC","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","LU2746668461.USD":"MANULIFE DYNAMIC LEADERS \"AA\" (USD) ACC","LU1548497426.USD":"安联环球人工智能AT Acc","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU1035775433.USD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","LU2746668974.SGD":"MANULIFE DYNAMIC LEADERS \"AA\" (SGDHDG) ACC","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","ANV":"GraniteShares Autocallable NVDA ETF","IE0004091025.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"B\" (USD) ACC","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","LU0079474960.USD":"联博美国增长基金A","LU1934455863.HKD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (HKD) ACC","LU2361044949.HKD":"WELLINGTON US QUALITY GROWTH \"A\" (HKD) ACC","NVDO":"2倍上限加速NVDA ETF-Leverage Shares","LU2361044865.SGD":"WELLINGTON US QUALITY GROWTH \"A\" (SGDHDG) ACC","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","USXF":"iShares ESG Advanced MSCI USA ETF","AIPI":"REX AI EQUITY PREMIUM INCOME ETF","HK0000304805.HKD":"PICTET 战略收益基金 P类港元","LU2361045086.USD":"WELLINGTON US QUALITY GROWTH \"A\" (USD) ACC","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","IE00BYXW3230.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"AA\" (USD) ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","HK0000304797.USD":"PICTET 战略收益基金 P类 美元","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","LU0124676726.USD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (USD) ACC","ESLG":"Eventide Large Cap Growth ETF","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","LU0965508806.USD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC","BK4567":"ESG概念","LU2065170008.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) INC","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU0528227936.USD":"富达环球人口趋势基金A-ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0985320562.USD":"NORDEA 1 GLOBAL STARS EQUITY \"BP\" (USD) ACC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","LU0342679015.USD":"ALLIANZ GLOBAL EQUITY UNCONSTRAINED \"AT\" (USD) ACC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU0545039389.USD":"BGF GLOBAL EQUITY INCOME \"A2\" ACC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","HK0000819398.USD":"BLACKROCK PREMIER SYSTEMATIC GLOBAL EQUITY HIGH INCOME FUND A10 (USD)INC","LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","ESUM":"EVENTIDE US MARKET ETF","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","LU2191332357.HKD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (HKDHDG) INC","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","TYLG":"GLOBAL X INFORMATION TECHNOLOGY COVERED CALL & GROWTH ETF","LU2463028550.USD":"AB SICAV I AMERICAN MULTI-ASSET PORTFOLIO \"A\" (USD) ACC","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU2420271590.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AT\" (USD) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU2065171311.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) ACC","FDTX":"Fidelity Disruptive Technology ETF","LU2065171402.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) INC","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","LU0795875086.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD","LU0823421333.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) ACC","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH  \"AG\" (USD) ACC","LU0823421416.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) INC","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","LU1992135399.USD":"Allianz Global Intelligent Cities AT Acc USD","HK0000532082.HKD":"ALLIANZ SELECTION INCOME AND GROWTH \"AM\" (HKD) INC","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU2413666699.HKD":"BNP PARIBAS GLOBAL ENVIRONMENT \"CRH\" (HKDHDG) INC","LU2247934214.USD":"FIDELITY FUNDS SUSTAINABLE FUTURE CONNECTIVITY \"A\" (USD) ACC","LU0109392836.USD":"富兰克林科技股A","LU0823434583.USD":"BNP PARIBAS US GROWTH \"C\" (USD) ACC","IE000KEQY171.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) INC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU0823434740.USD":"BNP PARIBAS US GROWTH \"C\" (USD) INC","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0143551892.USD":"T ROWE PRICE GLOBAL FOCUSED GROWTH EQUITY \"A\" (USD) ACC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","BK4543":"AI","LU2462591277.SGD":"TRP GLOBAL FOCUSED GROWTH EQUITY \"AN\" (SGDHDG) ACC","LU2954938101.SGD":"T ROWE PRICE GLOBAL FOCUSED GROWTH EQUITY \"A8P\" (SGD) INC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","THMR":"THOR AdaptiveRisk Dynamic ETF","LU2999663052.SGD":"T ROWE PRICE GLOBAL FOCUSED GROWTH EQUITY \"A4P\" (SGD) INC","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0444971666.USD":"天利全球科技基金","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU0912757837.SGD":"JPMorgan Investment Funds - Global Income A (mth) SGD-H","IE00B4YYXB79.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) ACC","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","LU0069063385.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (USD) ACC","IXN":"iShares Trust S&P Global Informa","LU0965509101.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (SGDHDG) ACC","LU2047632596.USD":"T.ROWE MULTI-ASSET GLOBAL INCOME \"A\" (USD) ACC","LU1400636657.SGD":"Allianz Europe Income and Growth Cl AMg DIS H2-SGD","LU0689626769.HKD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (HKD) ACC","LU0823414551.USD":"BNP PARIBAS ENERGY TRANSITION \"C\" (USD) INC","BK4549":"软银资本持仓","SGXZ51526630.SGD":"大华环球创新基金A Acc SGD","LU2100268510.USD":"T.ROWE MULTI-ASSET GLOBAL INCOME \"AX\" (USD) INC","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","BK4548":"巴美列捷福持仓","LU3102509885.SGD":"T.ROWE MULTI-ASSET GLOBAL INCOME \"A8P\" (SGDHDG) INC","FAI":"First Trust Bloomberg Artificial Intelligence ETF","LU0251132253.USD":"FIDELITY FUNDS  GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) ACC","LU1633808545.USD":"ALLIANZ GLOBAL EQUITY GROWTH \"AT\" (USD) ACC","IE00BKPKM429.USD":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","LU0203202063.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A2X\" (USD) ACC","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC","BK4554":"元宇宙及AR概念","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU0266013472.USD":"AXA WF - Framlington Longevity Economy A Cap USD","LU1066051225.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AC\" (USD) ACC","LU0203201768.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"AX\" (USD) INC","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","LU1069347547.HKD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (HKD) INC","BK4585":"ETF&股票定投概念","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU1923622614.USD":"Natixis Thematics Meta R/A USD","LU0553294199.USD":"BGF GLOBAL EQUITY INCOME \"A5G\" (USD) INC","LU2506951792.HKD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (HKDHDG)       ACC","LU1699723380.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"AP\" (USD) ACC","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","BK4587":"ChatGPT概念","LU2413666426.HKD":"BNP PARIBAS GLOBAL ENVIRONMENT \"C\" (HKD) ACC","LU2125909759.SGD":"Natixis Thematics Safety H-R/A SGD","LU0057025933.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (USD) ACC","LU2452424414.USD":"BGF ESG MULTI-ASSET \"A10\" (USDHDG) INC","LU0882574139.USD":"富达环球消费行业基金A ACC","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","LU2125909916.SGD":"Natixis Thematics Safety R/A SGD","SG9999015978.USD":"利安颠覆性创新基金A","07388":"南方两倍做空英伟达","BK4588":"碎股","BK4550":"红杉资本持仓","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU1923622291.USD":"Natixis Thematics Safety R/A USD","LU0323239441.USD":"HSBC GIF GLOBAL EQUITY CLIMATE CHANGE \"AC\" ACC","XLK":"高科技指数ETF-SPDR","LU0133085943.USD":"T ROWE PRICE US BLUE CHIP EQUITY \"A\" ACC","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU2433249047.HKD":"THEMATICS META \"R/A\" (HKD) ACC","BK4551":"寇图资本持仓","LU1861127337.USD":"ALLIANZ GLOBAL MULTI ASSET SUSTAINABILITY BALANCED \"AMG\" (USD) INC","LU0174119429.USD":"T ROWE PRICE US LARGE CAP GROWTH EQUITY \"A\" ACC","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU2244417387.USD":"FIDELITY SUSTAINABLE US EQUITY \"A\" (USD) ACC","LU2462591350.SGD":"T ROWE PRICE US LARGE CAP GROWTH EQUITY \"AN\" (SGDHDG) ACC","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","LU1037948897.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (HKD) INC","LU2290526834.HKD":"BGF NEXT GENERATION TECHNOLOGY \"A2\" (HKDHDG) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","SHOC":"Strive U.S. Semiconductor ETF","SG9999014575.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USDHDG) INC","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","LU1037948541.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (HKD) ACC","BK4529":"IDC概念","IE00BDRTCR15.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC A","LU2125909593.SGD":"Natixis Thematics Meta R/A SGD","LU2637965513.SGD":"BGF GLOBAL ALLOCATION \"A10\" (SGDHDG) INC","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","LU0390134368.USD":"FRANKLIN GLOBAL GROWTH \"A\" (USD) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","IE00B5TLWC47.USD":"BNY MELLON LONG-TERM GLOBAL EQUITY \"B\" (USD) ACC","LU0215105999.USD":"SCHRODER ISF GLOBAL EQUITY \"A\" ACC","LU2403377893.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AM\" (USD) INC","LU1261432733.SGD":"Fidelity World A-ACC-SGD","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","IE0034235295.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"A\" (USD) ACC","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","07788":"南方两倍做多英伟达","LU2092937148.SGD":"Blackrock ESG Multi-Asset A8 SGD-H","LU2092627202.USD":"Blackrock ESG Multi-Asset A8 USD-H","LU2111349929.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (HKD) INC","LU1992135472.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES \"AT\" (HKD) ACC","LU1035773651.USD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (USD) INC","SMH":"半导体指数ETF-HOLDRs","SG9999014559.SGD":"United Income Focus Trust Dis SGD","LU2360107168.USD":"BGF NEXT GENERATION TECHNOLOGY \"A4\" (USD) INC","LU2077746001.SGD":"Blackrock ESG Multi-Asset A2 SGD-H","BK4527":"明星科技股","LU2237443465.HKD":"abrdn SICAV I -  GLOBAL DYNAMIC DIVIDEND \"A\" (HKD) INC","SG9999014567.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USD) ACC","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","DIPS":"做空NVDA期权收益策略ETF-YieldMax","LU1674673691.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (USD) INC","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","SG9999015358.SGD":"United Income Focus Trust Dis SGD-H","LU0234570918.USD":"高盛全球核心股票组合Acc Close","TTEQ":"T. Rowe Price Technology ETF","LU2357125470.USD":"BNP PARIBAS ENERGY TRANSITION \"CLASSIC RH\" (USDHDG) ACC","LU0094547139.USD":"abrdn SICAV I - GLOBAL SUSTAINABLE EQUITY FUND \"A\" (USD) ACC","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","SMHX":"VanEck Fabless Semiconductor ETF","LU2294711713.HKD":"BNP PARIBAS ENERGY TRANSITION \"C\" (HKD) ACC","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU0080751232.USD":"富达环球多元动力基金A","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","LU2097344431.USD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (USDHDG) INC","LU0345769128.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) ACC","IE000Q6AESB8.SGD":"PIMCO BALANCED INCOME AND GROWTH \"A\" (SGDHDG) INC","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","TTXU":"Direxion Daily Technology Top 5 Bull 2X ETF","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","LU2097344357.USD":"SCHRODER ISF SUSTAINABLE MULTI-ASSET INCOME \"A\" (USDHDG) ACC","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU1069344957.HKD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (HKD) INC","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","WISE":"THEMES GENERATIVE ARTIFICIAL INTELLIGENCE ETF","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","BK4532":"文艺复兴科技持仓","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","BK4534":"瑞士信贷持仓","LU2125909247.SGD":"Natixis Thematics Meta H-R/A SGD","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU0494093205.USD":"贝莱德ESG灵活多元资产A2 USD-H","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU1821325948.USD":"NINETY ONE GSF GLOBAL MACRO ALLOCATION \"A\" (USD) ACC","TRFK":"PACER DATA AND DIGITAL REVOLUTION ETF","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU1803068623.USD":"TEMPLETON GLOBAL CLIMATE CHANGE \"AH1\" (USDHDG) ACC","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","09388":"南方两倍做空英伟达-U","NVIW.SI":"NVDA 3xLongSG261006","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","LU0395794307.EUR":"JPM GLOBAL INCOME (DIV) \"A\" (EUR) INC","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","METV":"Roundhill Ball Metaverse ETF","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU2271345857.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (HKD) ACC","LU0345768740.USD":"NINETY ONE GSF GLOBAL STRATEGIC MANAGED \"A\" (USD) INC","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","LU0082616367.USD":"摩根大通美国科技A（dist）","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","09788":"南方两倍做多英伟达-U","LU2272731782.SGD":"Allianz Global Intelligent Cities AM Dis H2-SGD","NVD2.UK":"2X NVIDIA ETP","SG9999002232.USD":"Allianz Global High Payout USD","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","NVD3.UK":"LS 3X NVIDIA","LU2272731600.USD":"Allianz Global Intelligent Cities AM Dis USD","LU1003077747.HKD":"BGF GLOBAL EQUITY INCOME \"A6\" (HKDHDG) INC","LU1645745479.HKD":"ALLIANZ EUROPE INCOME AND GROWTH \"AM\" (HKDHDG) INC","LU0347712357.USD":"BNP PARIBAS GLOBAL ENVIRONMENT \"C\" (USD) ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","SG9999002224.SGD":"Allianz Global High Payout SGD","NVDS.UK":"LS -1X NVIDIA","LU2083900584.USD":"HSBC GIF US INCOME FOCUSED \"AM2\" (USD) INC","SG9999015341.SGD":"United Income Focus Trust Acc SGD-H","LU0472753341.HKD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (HKD) ACC","IE00B3SWFQ91.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) INC","LU1066051811.HKD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (HKD) INC","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","LU1127390331.HKD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A\" (HKD) ACC","LU1400636491.USD":"Allianz Europe Income and Growth Cl AMg DIS H2-USD","LU2242649171.HKD":"FIDELITY FUNDS GLOBAL THEMATIC OPPORTUNITIES \"A\" (HKD) ACC","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","LU1623119135.USD":"Natixis Mirova Global Sustainable Equity R-NPF/A USD","LU0107464264.USD":"abrdn SICAV I - GLOBAL INNOVATION EQUITY \"A\" (USD) ACC","LU1712237335.SGD":"Natixis Mirova Global Sustainable Equity H-R-NPF/A SGD","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU1880398471.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) ACC","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","LU2272731865.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AM\" (HKD) INC","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD"},"source_url":"https://wallstreetcn.com/articles/3783308","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2674002860","content_text":"英伟达一个措辞上的细微变化，正在重塑投资者对这家芯片巨头财务健康状况的理解。\n今年9月28日，英伟达宣布将股票回购授权规模扩大1500亿美元至2350亿美元，并在公告中悄然嵌入一句关键表述——\"我们将以净超出战略用途的自由现金流（excess free cash flow net of strategic uses）形式回馈股东\"。据《华尔街日报》报道，这句话实质上是在向投资者发出信号：英伟达对外的股权投资，同样会压缩可用于回购和分红的现金。这一表述几乎未引发市场关注，但其背后的财务逻辑影响深远。\n若将英伟达的战略股权投资及股权激励相关现金支出纳入计算，其今年上半财年的实际自由现金流将从官方口径的699亿美元骤降至约217亿美元——缩水近七成。与此同时，英伟达在同期斥资约310亿美元用于超出维持股本不变所需的额外回购，并新增长期债务249亿美元至324亿美元，部分依赖举债来支撑回购力度。这一组合引发外界对其回购可持续性的质疑。\n“净战略用途”：一句话改变回购逻辑\n英伟达此次措辞调整的核心，在于将战略股权投资纳入自由现金流的扣减范畴。\n传统意义上，自由现金流通常以经营活动现金流减去资本支出（capex）计算，被视为企业在维持运营后可自由支配的现金代理指标。然而，英伟达的资本支出形态已不局限于厂房设备，还延伸至对AI生态系统内企业的股权投资。\n英伟达披露，截至目前，公司持有13家上市公司及229家私营公司的股权，涵盖数据中心建设、AI模型开发、能源供应及硬件制造等领域，其中包括OpenAI和Anthropic等知名AI企业。英伟达将上述投资定性为“战略性”而非“可选择性”，认为这些投资有助于加速其计算平台及整体AI市场的发展。\n值得注意的是，这些被投企业同时也是英伟达芯片的买家，形成一种循环动态——英伟达向其注资，被投企业再用这些资金购买英伟达产品。这一循环结构已引发市场对AI繁荣可持续性的担忧。\n数字背后：自由现金流被高估多少？\n英伟达并未正式修改自由现金流的定义，官方仍沿用传统公式。但实际数字的差距触目惊心。\n据《华尔街日报》分析，在截至今年7月26日的上半财年内：\n\n\n英伟达用于购买股权投资的现金流出为424亿美元，出售所得为72亿美元，净流出达352亿美元；\n\n\n若将上述净流出视同资本支出处理，英伟达自由现金流将从699亿美元减半至347亿美元；\n\n\n此外，员工股权激励相关的现金支出同样未被纳入传统自由现金流计算。同期，英伟达为员工股票归属支付的现金预扣税款达45亿美元，另有约90亿美元的回购用于对冲股权激励带来的股本稀释；\n\n\n扣除员工股权激励相关现金支出后，再叠加股权投资净流出，英伟达上半财年的调整后自由现金流约为217亿美元，较官方口径缩水约69%。\n\n\n与此同时，英伟达在同期新增长期债务249亿美元，这在一定程度上解释了公司如何在战略投资和股权激励吸收大量现金的情况下，仍维持了可观的额外回购规模。\n2350亿回购授权：华尔街预期能否兑现？\n英伟达2350亿美元的回购授权规模庞大，兑现需要持续强劲的现金流支撑。\n据Visible Alpha汇编的华尔街分析师预测数据，英伟达在2028财年（截至2028年1月）的自由现金流均值预期超过3300亿美元，理论上足以覆盖全部回购授权及分红支出。\n然而，英伟达自身已通过措辞调整暗示，未来仍需持续向被投企业注入大量资金。若战略股权投资规模维持高位，调整后的实际可分配现金流将远低于传统口径下的预测数字，回购计划的实际执行空间也将相应收窄。\n信息披露：英伟达领先同行，但仍不够\n在信息透明度方面，英伟达已率先做出改进。\n英伟达上季度调整了现金流量表的列报方式，将债务类证券与股权类证券在投资活动项下完全分开披露（其持有的债务证券均为美国国债或机构债券），使投资者得以自行进行上述调整。\n相比之下，微软、亚马逊及谷歌母公司Alphabet均将债务投资与股权投资合并列报，令投资者难以进行同类拆分。《华尔街日报》认为，其他公司应效仿英伟达的做法。\n但即便如此，英伟达的披露改进仍只是起点。自由现金流的真实面貌远比表面复杂，投资者需要现金流量表提供更高程度的透明度，才能准确评估这家AI时代最重要芯片公司的真实财务状况与回购能力。","news_type":1,"symbols_score_info":{"TYLG":0.6,"NVDQ":0.6,"NVC":0.6,"NVDD":0.6,"CMAG":0.6,"THMR":0.6,"NVDG":0.6,"NVIW.SI":0.6,"NVDA":1.97,"TTXU":0.6,"NVDW":0.6,"ESUM":0.6,"SOXY":0.6,"FTEC":0.6,"NVYY":0.6,"SNVDAmain":0.6,"LFGY":0.6,"GAMR":0.6,"NVDB":0.6,"SPTE":0.6,"USD":0.6,"TTEQ":0.6,"VT":0.6,"NVDU":0.6,"FDTX":0.6,"CHPX":0.6,"NVDL":0.6,"NVII":0.6,"EFIV":0.6,"DIPS":0.6,"SMH":0.6,"USXF":0.6,"IETC":0.6,"ILDR":0.6,"07788":0.6,"ANV":0.6,"NVDS":0.6,"METV":0.6,"NVD3.UK":0.6,"NVDS.UK":0.6,"07388":0.6,"IXN":0.6,"SOXX":0.6,"CLSE":0.6,"ESLG":0.6,"09788":0.6,"VGT":0.6,"09388":0.6,"AIPI":0.6,"NVDO":0.6,"3NVD.UK":0.6,"XLK":0.6,"NVDY":0.6,"AIFD":0.6,"SNVD.UK":0.6,"NVD2.UK":0.6,"CHAT":0.6,"SNPE":0.6,"ROM":0.6,"SMHX":0.6,"TEK":0.6,"NVD":0.6,"TRFK":0.6,"JGRO":0.6,"2NVD.UK":0.6,"ARTY":0.6,"NULC":0.6,"SHOC":0.6,"NVDX":0.6,"FAI":0.6,"CNEQ":0.6,"SOXQ":0.6,"AGOX":0.6,"WISE":0.6}},"isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":412291459424448,"gmtCreate":1741677834692,"gmtModify":1741677836126,"author":{"id":"4200961418214362","authorId":"4200961418214362","name":"胜者为王18","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4200961418214362","idStr":"4200961418214362"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/HIMS\">$Hims &amp; Hers Health Inc.(HIMS)$&nbsp;</a><v-v data-views=\"1\"></v-v> 保持住心态，别把自己给干崩溃了！","listText":"<a href=\"https://laohu8.com/S/HIMS\">$Hims &amp; Hers Health Inc.(HIMS)$&nbsp;</a><v-v data-views=\"1\"></v-v> 保持住心态，别把自己给干崩溃了！","text":"$Hims & Hers Health Inc.(HIMS)$ 保持住心态，别把自己给干崩溃了！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/412291459424448","isVote":1,"tweetType":1,"viewCount":3117,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":412071021260880,"gmtCreate":1741623462071,"gmtModify":1741624095453,"author":{"id":"4200961418214362","authorId":"4200961418214362","name":"胜者为王18","avatar":"https://static.tigerbbs.com/9f21cbc437ac1cdbc5501cc836dc8f3d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4200961418214362","idStr":"4200961418214362"},"themes":[],"title":"","htmlText":"Replying to <a href=\"https://laohu8.com/U/3537739548105956\">@爱吃小鱼鱼的猴子</a>:跌到底才有反弹，慌啥呢？//<a href=\"https://laohu8.com/U/3537739548105956\">@爱吃小鱼鱼的猴子</a>:跌破100估计就恐慌了","listText":"Replying to <a href=\"https://laohu8.com/U/3537739548105956\">@爱吃小鱼鱼的猴子</a>:跌到底才有反弹，慌啥呢？//<a href=\"https://laohu8.com/U/3537739548105956\">@爱吃小鱼鱼的猴子</a>:跌破100估计就恐慌了","text":"Replying to @爱吃小鱼鱼的猴子:跌到底才有反弹，慌啥呢？//@爱吃小鱼鱼的猴子:跌破100估计就恐慌了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/412071021260880","isVote":1,"tweetType":1,"viewCount":2670,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}