Investment Strategy Review: Adjusting AI Investment Structure, Maintaining High PositionsIn January, we made minor adjustments to our AI-related holdings by reducing positions in AI hardware companies that had significant gains, where market expectations were fully priced in, and which had limited room for future returns. However, we increased our investments in semiconductor foundries and design tools companies that also benefit from AI, have a good competitive landscape, high certainty, insufficient market reaction, and decent returns potentials. We continue to prioritize holding companies involved in AI's B2B applications, as well as internet companies that reflect future lifestyle changes and brand consumer products. In January, we began experimenting with establishing some short positions (the investment method is the same as for long positions, just the criteria are reversed) to add alpha returns to our portfolio. We maintained high positions in January with little structural cha
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