5月8日，美国 证券 交易委员会(SEC)官网4月28日披露但斌掌舵的东方港湾旗下海外基金”Oriental Harbor Investment Fund”2026年一季度末的美股持仓数据。数据显示，2026年一季度末东方港湾共持有12只美股标的，持股市值合计11.33亿美元，折合人民币约为78亿元，相比2025年末约13.16亿美元的持股市值略有下降。 从SEC披露的数据来看，但斌组合的前十大持仓集中度高达97.56%，延续了高聚焦、高集中度的投资风格，且继续聚集在AI产业链。其第一、第二大重仓股依次仍为谷歌和英伟达，合计占比超50%。东方港湾一季度还对谷歌和英伟达均进行了小幅加仓，其中，对谷歌加仓的方式为新进买入27.71万股的谷歌-A，谷歌(A+C)合计占比37.53%，是英伟达的近2倍。此外，值得关注的是，东方港湾一季度新进买入了台积电、美光科技、CIRCLE INTERNET GROUP INC，清仓了微软、FNGU(三倍做多FANG+指数ETN)。
Joey Ingelhart/iStock via Getty Images It has been a year since my initial coverage of LandBridge Company, LLC ( LB ). A lot has happened in the global oil and gas market, leading to its sharp price swings. Yet, its robust fundamentals are a testament to its strategic business model and acreage acquisitions. This is supported by its valuation, which highlights its upside potential at its current v...
Joey Ingelhart/iStock via Getty Images It has been a year since my initial coverage of LandBridge Company, LLC ( LB ). A lot has happened in the global oil and gas market, leading to its sharp price swings. Yet, its robust fundamentals are a testament to its strategic business model and acreage acquisitions. This is supported by its valuation, which highlights its upside potential at its current value. Technicals have been quite flattish, but buying opportunities are evident. LB Q1 2026: Starting With Sustained Strength LandBridge Company, LLC started the year faced with increased macroeconomic volatility and sharp oil price swings. Yet, its low-cost model proved to be effective in the current market environment. This was supported by its sustained capitalization on land surface acquisitions to secure more revenue streams. And given the unending needs for oil and gas, its surface acreage across the Delaware Basin has remained crucial and in demand for multiple companies. This was evident in its most recent performance. In Q1 2026, its operating revenue amounted to $51.0M , up by 16.0% YoY from $44.0M. This YoY revenue decrease is already slower than a year ago at 131%. This should not be surprising since LB was at the height of its acquisitions. At the end of 2024, it acquired a total of 220,000 surface acres, increasing its land surface area from its legacy of only 72,000 acres. So, the impact was visible at the start of 2025. Also, it was still new to the public market at that time. But the important thing is that its revenues kept increasing. This means that its continued acquisitions have remained fruitful. As you can see, most of its revenue components increased YoY. This was most evident in its surface-use royalties. With that, you can say that there was an increase in activity and number of contracts in its land surface acreage. Likewise, its operating expenses increased in line with its increased ownership of land surface. It may already have increased its e...
Earnings Call Insights: Cars.com (CARS) Q1 2026 Management view CEO Tobias Hartmann said the company “delivered on our financial commitments,” citing “Q1 revenue of $180.2 million,” “adjusted EBITDA margin of 28.3%,” and that “free cash flow remained strong, up 42% year-over-year,” alongside “immediate cost actions” that identified “$25 million to $30 million of recurring annualized operating cost...
Earnings Call Insights: Cars.com (CARS) Q1 2026 Management view CEO Tobias Hartmann said the company “delivered on our financial commitments,” citing “Q1 revenue of $180.2 million,” “adjusted EBITDA margin of 28.3%,” and that “free cash flow remained strong, up 42% year-over-year,” alongside “immediate cost actions” that identified “$25 million to $30 million of recurring annualized operating cost savings.” CEO Tobias Hartmann framed a strategic shift from “distinct and loosely affiliated pillars” to “one interconnected marketplace-centric ecosystem,” adding that “moving forward to truly maximize our value, we must integrate into one interconnected marketplace-centric ecosystem,” with the marketplace model intended to “drive vehicle transactions at scale.” CEO Tobias Hartmann highlighted AI-related product work, including “MCP integrations for agentic AI platforms,” stating “LLMs are still sub-1% of our traffic,” while also pointing to “Conversational Carson” where “Consumers were more than 4x as likely to submit a lead after having a conversation with Carson.” Chief Financial Officer Sonia Jain said, “Revenue was in line with expectations, while adjusted EBITDA beat our guidance range by over a full point,” and tied the operating approach to April actions: “we are focused on more product integration and innovation while working diligently to enable operational efficiencies.” Outlook Chief Financial Officer Sonia Jain guided Q2 revenue growth as “flat to up 2% year-over-year,” adding that “Dealer revenue should continue to be a growth driver,” while “second quarter OEM and national revenue” is expected to face “similar year-over-year pressures as Q1,” with a “slightly wider than usual quarterly guidance range” due to “timing variances in customer spending.” Chief Financial Officer Sonia Jain guided Q2 adjusted EBITDA margin to “between 28% and 29%,” and reiterated the profitability priority: “our priority is to grow adjusted EBITDA dollars year-over-year at a faster...
Earnings Call Insights: Airbnb (ABNB) Q1 2026 Management View “Airbnb had a strong start to 2026,” Brian Chesky (Co-Founder, CEO & Chairman of the Board) said, adding, “Revenue grew 18% year-over-year to $2.7 billion,” “Our gross booking value grew 19% year-over-year,” and “Nights and Seats Booked grew 9% after accounting for an approximate 100 basis point headwind from the conflict in the Middle ...
Earnings Call Insights: Airbnb (ABNB) Q1 2026 Management View “Airbnb had a strong start to 2026,” Brian Chesky (Co-Founder, CEO & Chairman of the Board) said, adding, “Revenue grew 18% year-over-year to $2.7 billion,” “Our gross booking value grew 19% year-over-year,” and “Nights and Seats Booked grew 9% after accounting for an approximate 100 basis point headwind from the conflict in the Middle East.” Chesky highlighted product levers tied to conversion and mix shift, saying “roughly 20% of global GBV came from Reserve Now, Pay Later bookings,” and that Airbnb is seeing “longer lead times as well as a mix shift towards larger, higher-priced homes,” while also noting “Guests now see more relevant listings and it’s having a positive impact on bookings.” On expansion beyond homes, Chesky said, “we continued scaling experiences,” and cited cross-sell behavior: “Almost 1/4 of new guests who booked an experience go to book a stay or a service,” and “about one in three people who book an experience book a stay within 90 days.” He also said Airbnb is “scaling our boutique and independent hotel pilot,” adding, “roughly 55% of guests who book a hotel on Airbnb come back and they book a home.” Ellie Mertz (Chief Financial Officer) said, “Gross booking value grew 19% year-over-year to $29 billion,” while noting intra-quarter volatility: “we saw a slight deceleration in March, largely due to conflict-related cancellations across EMEA and APAC.” Mertz quantified profitability and items impacting GAAP results, saying, “our net income was $160 million, while adjusted EBITDA was $519 million,” and “Net income was negatively impacted by a onetime adjustment of approximately $70 million to certain deferred tax assets.” On capital allocation and financing, Mertz said, “delivering $1.7 billion of free cash flow in Q1,” “repurchase $1.1 billion of our common stock in Q1,” and “completed a $2.5 billion senior unsecured debt offering for debt repayment and general corporate purposes.” Ou...
Earnings Call Insights: Omada Health (OMDA) Q1 2026 Management View "Q1 2026 was a milestone quarter for Omada" with "42% revenue growth" and "a guidance raise," according to CEO Sean Duffy (Co-Founder, CEO & Director), who also highlighted "positive adjusted EBITDA" and "a higher gross margin" versus last year. "Omada is proud to join Optum Rx's Weight Engage portfolio" and said the collaboration...
Earnings Call Insights: Omada Health (OMDA) Q1 2026 Management View "Q1 2026 was a milestone quarter for Omada" with "42% revenue growth" and "a guidance raise," according to CEO Sean Duffy (Co-Founder, CEO & Director), who also highlighted "positive adjusted EBITDA" and "a higher gross margin" versus last year. "Omada is proud to join Optum Rx's Weight Engage portfolio" and said the collaboration "marks Omada's first offering of prescribing capabilities within a PBM channel," CEO Duffy (CEO) said, adding, "today, we announced that Omada is joining Eli Lilly and Company's Employer Connect to offer our GLP-1 Care Track, also including prescribing capabilities, directly to employers." "In Q1, our total members grew 51% year-over-year, crossing 1 million for the first time in our history," CEO Duffy (CEO) said, describing GLP-1 capabilities as "the tip of the spear for sales conversations" while noting growth "across the full suite of our cardiometabolic services like hypertension and diabetes." "We ended Q1 with 1,025,000 million total members, up 51% year-over-year" and "139,000 net new members," President Wei-Li Shao (President) said, adding that the quarter included "strong year-over-year growth in our hypertension and diabetes programs" and that "multi-condition close rates remain strong." "Revenue was $78 million, up 42% year-over-year" and "our GAAP net loss narrowed to $3 million" while "adjusted EBITDA was $1 million," CFO Steven Cook (Chief Financial Officer) said, emphasizing, "Q1 was the strongest first quarter in Omada's history." Outlook "We are raising our full year revenue guidance to $322 million to $330 million, up from our prior range of $312 million to $322 million," CFO Cook (Chief Financial Officer) said. "For adjusted EBITDA, we expect a range of $14 million to $20 million, up from a prior range of $7 million to $15 million," CFO Cook (Chief Financial Officer) said, adding, "the low-end of the new guidance range is approximately at the high-end o...
Uber Says AI Is Writing More Code and Slowing Hiring Growth Uber Technologies, Inc. is expanding its use of AI tools and using some of those efficiency gains to slow the pace of hiring, according to Business Insider . Speaking on the company’s first quarter earnings call, CEO Dara Khosrowshahi said autonomous coding agents now account for about 10% of Uber’s code updates. Engineers still review th...
Uber Says AI Is Writing More Code and Slowing Hiring Growth Uber Technologies, Inc. is expanding its use of AI tools and using some of those efficiency gains to slow the pace of hiring, according to Business Insider . Speaking on the company’s first quarter earnings call, CEO Dara Khosrowshahi said autonomous coding agents now account for about 10% of Uber’s code updates. Engineers still review that output before it is committed to internal repositories, but he said the shift offers an early glimpse of how AI can accelerate software development. Business Insider writes that Uber has long relied on machine learning for customer facing functions such as setting ride prices and pairing drivers with riders. Now the company is rolling out similar tools across internal teams. “We’re seeing uptake of these tools, whether it’s our legal team or marketing team or developers,” Khosrowshahi said. “We think it’s creating kind of employees with superpowers.” That broader adoption is influencing hiring plans. CFO Balaji Krishnamurthy said executives did not fully anticipate how quickly AI tools would improve productivity when they mapped out their 2026 budget. He said on the call, per Goldman: “ One last comment on AI. I would say, candidly, when we set up budgets for 2026 in November, we underestimated the amount of impact the AI tools could have,” he said. After a new wave of models arrived in December, Uber “re-upped our investment here,” while also reducing “incremental headcount growth.” The spending ramp has been significant. Last month, CTO Praveen Neppalli Naga said Uber had already used its entire 2026 budget for Anthropic’s Claude Code, underscoring how quickly demand for AI tools is growing inside the company. Khosrowshahi said the strategy makes sense if those tools continue improving employee output. “If every person at this company can increase their throughput by 20%, 30%, 50%, 100%, then I think metering headcount growth and leaning in on AI investment is going to...
(RTTNews) - The Hong Kong stock market has moved higher in back-to-back sessions, improving more than 770 points or 2.8 percent along the way. The Hang Seng Index now rests just above the 26,625 point plateau although it's looking at a soft start on Friday.
(RTTNews) - The Hong Kong stock market has moved higher in back-to-back sessions, improving more than 770 points or 2.8 percent along the way. The Hang Seng Index now rests just above the 26,625 point plateau although it's looking at a soft start on Friday.