The positions of world-renowned investors at the end of 2021 have been announced one after another. The positions of Buffett, Munger, Soros and Zhang Lei have attracted much attention. The change of positions represents their prediction of the future and is helpful for investors to grasp the investment direction.
well known investor
last year's yield was announced
The Berkshire stock index rose 26.89% in 2021, beating the benchmark stock index by 26.500% in 2021. In 2021, the global stock market fluctuated violently, and Buffett once again proved his investment ability with excellent results.
There are few investors like Buffett who have maintained stable returns for a long time. Public data show that oak capital, the world's largest non-performing asset management company, had an investment return of 44.99% in 2021; The yield of Fairfax Financial Corporation of Canada in the same period exceeded 35%; BlackRock's yield is slightly lower than that of Buffett's Berkshire Hathaway.
Some investment masters lost the S & P 500 index and even had negative returns. Chase Coleman, known as "a force that can not be ignored in the investment community", had a return on assets under management of - 42.6% in the past year as of February 14; Buffett's gold partner Charlie Munger's assets under management fell slightly in 2021; The assets managed by George Soros, the world's largest investor, had a yield of - 7.31% in the past year as of February 11.
finance, science and technology increase and decrease of warehouse differences
Buffett's position in technology stocks
Investors' positions are mainly based on personal investment ideas and changes in the market environment. From the perspective of the latest positions held by well-known investors, finance, technology and cyclical consumption are industries with concentrated position changes.
Compared with the shareholding at the end of 2021 and the end of the third quarter of last year, Charlie Munger significantly reduced his positions in individual stocks in the financial services industry and increased his positions in cyclical consumer stocks, with the increase and decrease of positions of about 7 percentage points.
Soros significantly increased his positions in cyclical consumer stocks by 26.87 percentage points, reduced his positions in the communication industry by 8.27 percentage points, and slightly reduced his positions in financial and technology stocks. Notably, Soros spent $2 billion to build positions in rivian, Tesla's competitor and electric pickup truck manufacturer, making it a heavy stock of Soros Fund.
Compared with the first two investors, the tiger Global Fund founded by chase Coleman has obvious differences in the position change industry. Tiger Global Fund has significantly increased its positions in technology stocks, slightly increased its positions in individual stocks in the financial service industry, and significantly reduced its positions in cyclical consumer stocks.
The change of Berkshire Hathaway's position managed by Buffett has attracted the attention of global investors. From the perspective of shareholding at the end of 2021, technology, non cyclical and finance are still the top three industries with heavy positions. Compared with the end of the third quarter, various industries changed slightly. The technology industry gained 4.82 percentage points of position increase, and the financial, healthcare and non cyclical industries ranked first in position reduction, with 2.83 percentage points, 1.14 percentage points and 0.56 percentage points respectively. Apple and Byd Company Limited(002594) (Hong Kong stocks) are still their heavy positions.
famous Asian investor
jiacang technology shares
Compared with the above-mentioned well-known investors in North America, the position style of well-known investors in Asia is relatively unified. According to the positions of Gaoyi assets, Gaoling capital, Jinglin assets (Overseas) and Sequoia Capital at the end of 2021, the heavy positions of the four asset management companies are concentrated in cyclical consumption, technology, medical care and other industries. Compared with the end of the third quarter, the above four asset management companies increased their positions in the technology sector and reduced their positions in the health care industry at the same time.
Gaoyi assets, which focuses on long-term value investment, has significantly reduced its positions in the communication service and cyclical consumption industries, of which the proportion of position reduction in the communication service industry is more than 13 percentage points, and that in the medical and health care industry is nearly 4 percentage points; The real estate, industry and science and technology sectors have increased their positions to varying degrees.
As one of the investment funds with the largest asset management scale and the best performance in Asia, Hillhouse capital significantly reduced its positions in the medical and health care industry by more than 9 percentage points, increased its positions in the technology industry by nearly 5 percentage points, and increased its positions in the cyclical consumer industry by 3.48 percentage points.
Jinglin assets, adhering to the concept of "value investment", increased positions in technology, financial services, reduced positions in communication and non cyclical industries at the end of 2021. Sequoia Capital increased its position in the technology sector by nearly 40 percentage points, and reduced its position in the financial service industry by 17.24 percentage points in the same period.
Sequoia Capital China fund, as the "entrepreneur behind the entrepreneur", focuses on investment opportunities in four directions: Technology / media, medical and health care, consumer goods / modern services and industrial technology.
a-share industry leader
favored by investors
According to the data of value masters, well-known investors led by Buffett, Munger and Soros hold stocks of more than 3000 companies around the world, and individual stocks such as micron, TSMC, Bank of America, apple, Netease and JD group have won key positions. Among a shares, leading stocks from all walks of life have been held by well-known global investors, such as China Merchants Bank Co.Ltd(600036) , Sungrow Power Supply Co.Ltd(300274) , China Tourism Group Duty Free Corporation Limited(601888) , Longi Green Energy Technology Co.Ltd(601012) , etc.
What A-Shares do Asian investors represented by Hillhouse capital currently hold? According to the statistics of securities times · databao, according to the latest data of the top ten shareholders (the shares without annual report are taken as the data at the end of the third quarter of 2021), at least 20 shares were held by Hillhouse capital, more than 40 shares were held by Gaoyi assets, 9 shares were held by Jinglin assets (Overseas), and Sequoia Capital held at least 13 shares Guangzhou Grg Metrology&Test Co.Ltd(002967) obtained the positions of Hillhouse capital and Gaoyi assets at the same time, Jiangsu Leili Motor Corporation Limited(300660) obtained the positions of Gaoyi assets and Jinglin at the same time. The four funds hold a total of 80 shares, with intensive positions in pharmaceutical, biological, power equipment and mechanical equipment industries.
These 80 shares rose by an average of more than 12% in 2021, significantly outperforming the Shanghai index. The average increase of A-Shares held by Gaoyi assets and Jinglin assets (Overseas) was more than 15%, and the average increase of A-Shares held by Sequoia Capital was less than 2%. The individual stocks held by Hillhouse capital performed poorly, with an average decline of more than 8%, mainly dragged down by pharmaceutical stocks.
According to the statistics of databao, the Iray Technology Company Limited(688301) , Zhejiang Jingsheng Mechanical & Electrical Co.Ltd(300316) , Shanghai Baolong Automotive Corporation(603197) and Shanghai Baolong Automotive Corporation(603197) of Sequoia Capital's position, Gaoyi asset's position and Contemporary Amperex Technology Co.Limited(300750) of Gaoling capital's position increased by more than 100% in 2021, and more than 65% in the same period Bceg Environmental Remediation Co.Ltd(300958) , Winner Medical Co.Ltd(300888) , Autobio Diagnostics Co.Ltd(603658) fell 45% in 2021. The first two shares were held by Sequoia Capital, and the latter was held by Hillhouse capital.
Buffett stock selection method:
10 technology stocks selected
Referring to the investment direction of world-renowned investors, it can be found that Buffett, Gaoyi assets, Hillhouse capital and Sequoia Capital jointly increased their positions in the technology sector at the end of 2021.
In fact, after several months of correction, the valuation of A-share technology sector returned to about 40 times, slightly lower than the median level in recent 10 years.
Combined with Buffett's stock selection index, among the technology stocks in the A-share market, there are only 10 leading stocks in various fields with the latest P / E ratio of less than 40 times, the return on net assets of more than 5% at the end of the third quarter of 2021, Beishang capital's position increase since 2022 and no risk of decline in performance in 2021.
According to the statistics of data treasure, aviation electromechanical leader Avic Electromechanical Systems Co.Ltd(002013) , optical fiber and optical cable leader Hengtong Optic-Electric Co.Ltd(600487) , among which Hengtong Optic-Electric Co.Ltd(600487) , the return on net assets in the third quarter of 2021 exceeded 6% and the P / E ratio was about 23 times. In 2021, the growth rate of net profit (lower limit and consistent prediction of institutions) exceeds 50%, including Broadex Technologies Co.Ltd(300548) , Fujian Torch Electron Technology Co.Ltd(603678) , Newland Digital Technology Co.Ltd(000997) . Those with a P / E ratio of less than 30 times include Hengtong Optic-Electric Co.Ltd(600487) , Inner Mongolia First Machinery Group Corporation Co.Ltd(600967) , Fujian Torch Electron Technology Co.Ltd(603678) , etc.
