AI全球选股策略：投资组合月度跟踪（2024年6月）

Group 1: AI Investment Portfolio Performance - The AI10 portfolio has achieved a return of 34.1% since its inception, outperforming the AI Select portfolio which returned 20.5% [4][89] - The AI10 portfolio has outperformed the QQQ index by 7.9 percentage points since December 2023 [92] - ARM Holdings has been the best-performing stock in the AI10 portfolio, with a total return of 168.0% since inception [14][98] Group 2: Commodity Investment Portfolio Performance - The Commodity 10 portfolio has returned 15.8% since its inception, while the Commodity Select portfolio returned 13.6% [4][70] - The performance of the Commodity 10 portfolio has been better than the MSCI ACWI benchmark [70] - The monthly performance of the Commodity 10 portfolio shows a significant decline in stocks like Southern Copper Corp and EQT Corp, with declines of -9.18% and -10.00% respectively [27][103] Group 3: Industry Dynamics - AMD has launched new AI chips to compete with Nvidia, with the MI325X accelerator expected to be released in Q4 2024, promising a 35x improvement in inference performance [19] - Apple introduced AppleIntelligence at WWDC24, integrating ChatGPT into iOS18, enhancing user experience across its devices [19] - OpenAI is considering transitioning to a "for-profit benefit corporation," aligning with industry competitors [19] Group 4: Risk Characteristics of Portfolios - The AI10 portfolio exhibits a higher Sharpe ratio of 2.93x compared to the AI Select portfolio's 2.34x, indicating better risk-adjusted returns [40][100] - The Commodity 10 portfolio has a Beta of 1.06 and a Sharpe ratio of 1.64x, suggesting a balanced risk profile [30][95] - The AI10 portfolio has a lower P/E ratio of 42.3x compared to 49x for the AI Select portfolio, indicating better valuation metrics [77]