What are the hidden heavy positions of star fund managers?
The disclosure of the 2021 annual report of public funds is coming to an end. Most active equity funds have disclosed the 2021 annual report, and the “invisible heavy positions” of some well-known fund managers have been exposed one after another.
The top ten heavyweight stocks of fund products contribute the most to the net value of the fund, and the exposure is often high. The contribution of the heavyweight stocks hidden in the 11th to 20th positions of fund products to the net value of the fund can not be ignored. In addition, the position adjustment of fund managers cannot be achieved overnight. The trend of invisible heavy position stocks also reflects the change and invariance of fund managers’ investment ideas to a certain extent.
hidden heavy position stocks reveal the investment ideas of fund managers
The annual report of the fund disclosed all the holdings of fund products, and the hidden heavy position stock market value of many star fund managers can even rank among the top ten shareholders of listed companies.
for example, Jingshun Great Wall emerging growth fund managed by Liu Yanchun holds 1.8 billion yuan of Chenguang shares, ranking only 12th among the shares held by the fund, while Jingshun Great Wall emerging growth fund is the third largest shareholder of Chenguang shares
According to the statistics of Chinese journalists from securities companies, as of March 30, among the active equity funds with a scale of more than 5 billion yuan, 170 have disclosed the annual report of 2021, such as e fund blue chip selection managed by Zhang Kun, Jingshun Great Wall emerging growth managed by Liu Yanchun, Ruiyuan growth value a managed by Fu Pengbo, Jingshun Great Wall Dingyi managed by Liu Gesong and Xinda Aoyin new energy industry managed by Feng Mingyuan.
The position adjustment of the fund manager cannot be achieved overnight, so the change of its heavy position stocks does not necessarily reflect the change of its investment ideas in time. The trend of invisible heavy position stocks can reflect the change and invariance of the investment ideas of the fund manager to a certain extent.
The latest scale of e fund blue chip selection managed by Zhang Kun is 67.623 billion yuan. There are no new faces in the top ten heavy positions. From the perspective of its invisible heavy positions, there are many new faces, such as Hong Kong stock bubble mart, Focus Media Information Technology Co.Ltd(002027) , China stock market news and Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) ranking 13th to 16th in the market value of positions. Bubble mart is the largest and fastest-growing trend toy company in China, known as “the first share of the blind box”. Focus Media Information Technology Co.Ltd(002027) , China stock market news are the leading companies of media advertising and internet securities companies respectively.
Bubble mart, Focus Media Information Technology Co.Ltd(002027) , and China stock market news also appeared in the list of invisible heavy positions held by e fund high-quality enterprises managed by Zhang Kun for three years.
Zhang Kun also revealed in the fund’s annual report that the fund’s stock position was basically stable in 2021, and the structure was adjusted. In terms of industries, the allocation of finance, consumption and other industries has been increased, and the allocation of pharmaceutical and other industries has been reduced; In terms of individual stocks, the investment proportion of individual stocks with distinctive business model, clear long-term logic and reasonable valuation level has been increased.
Feng Mingyuan is a recognized technology “Hunter” in the industry. It is not difficult to find his adherence to this field from his invisible heavy positions. For example, Feng Mingyuan’s Xinda Aoyin new energy industry has the latest scale of 17.477 billion yuan. From the perspective of its invisible heavy positions, Zhuhai Cosmx Battery Co.Ltd(688772) , Shanghai Zijiang Enterprise Group Co.Ltd(600210) and Guangdong Guanghua Sci-Tech Co.Ltd(002741) appeared for the first time Zhuhai Cosmx Battery Co.Ltd(688772) company is mainly engaged in the R & D, production and sales of consumer polymer soft encapsulated lithium-ion batteries, and the layout of power lithium-ion batteries. It is a new share listed in the fourth quarter of 2021 Shanghai Zijiang Enterprise Group Co.Ltd(600210) company has a design capacity of 36.6 million square meters per year for aluminum-plastic film, and has established stable cooperative relations with ATL, Byd Company Limited(002594) , Guangzhou Great Power Energy&Technology Co.Ltd(300438) , Do-Fluoride New Materials Co.Ltd(002407) and other well-known manufacturers Guangdong Guanghua Sci-Tech Co.Ltd(002741) laid out the lithium battery recycling and cathode material industries.
It can be seen that Feng Mingyuan is still adding positions to the new energy industry chain company. In his annual report, he also said that looking forward to 2022, facing multiple tests such as geopolitical conflict and epidemic disturbance, the fund will continue to look for investment opportunities in the direction of new energy, TMT, advanced manufacturing and steady growth.
Ja Solar Technology Co.Ltd(002459) , Zhejiang Chint Electrics Co.Ltd(601877) , Hangzhou First Applied Material Co.Ltd(603806) , Great Wall Motor Company Limited(601633) and others first appeared in the invisible heavy positions of GF technology pioneer fund managed by Liu Gesong. Liu Gesong said in the fund’s annual report that the situation of style differentiation may continue in 2022. Looking forward to 2022, he is still optimistic about the growth sustainability and profit growth expectation of assets in the direction of “global comparative advantage manufacturing”.
star fund manager’s largest invisible heavy position stock exposure
brokerage Chinese reporters found that more than 30% of the active equity funds with a scale of more than 5 billion yuan entered the invisible heavy positions of fund products for the first time. With the continuous allocation and position adjustment of fund managers, it is not excluded that these stocks will enter the top ten heavy positions of fund products in the subsequent financial disclosure
To be more specific, the hidden heavy warehouse stocks are dominated by the hidden heavy warehouse stocks, which include Wuxi Apptec Co.Ltd(603259) 1 etc., most of which are also the top ten heavy positions of public funds.
Wuxi Apptec Co.Ltd(603259) is the top ten heavy position stocks of many fund products and the largest invisible heavy position stock of star fund managers. Specifically, Wuxi Apptec Co.Ltd(603259) is the 11th heavy position stock of harvest competitiveness optimization a, BOCOM new growth, e-fund new income a, BOCOM selection, Jingshun great wall core Zhongjing held in one year and Jingshun great wall core bidding.
It is worth noting that Qinghai Salt Lake Industry Co.Ltd(000792) has less than 300 holding funds, and the number of heavily held funds is not outstanding, but it is the invisible holding stocks of many star funds. For example, Qinghai Salt Lake Industry Co.Ltd(000792) appears in Zheng Zehong’s Huaxia energy innovation a, Shi Yuxin and Lu Ben’s Hua’an Ankang a, Li Xiaoxing and Zhang Ping’s Yinhua Xinxiang holding for one year, Yang Ruiwen’s Jingshun Great Wall new energy industry a, Lu Bin’s HSBC Jinxin dynamic strategy a, and Shi Cheng’s SDIC UBS industry trend a.
In addition, Shenzhen Topband Co.Ltd(002139) , Dongfang Electric Corporation Limited(600875) , Ningbo Deye Technology Co.Ltd(605117) , Guangdong Jiayuan Technology Co.Ltd(688388) , Chenguang shares Shenzhen Hekeda Precision Cleaning Equipment Co.Ltd(002816) and other non fund heavy positions also frequently appear in the hidden heavy positions of star fund managers.
For example, Ningbo Deye Technology Co.Ltd(605117) appeared for the first time in the invisible positions of several fund products managed by Zheng chengran. According to the public data, Ningbo Deye Technology Co.Ltd(605117) is mainly engaged in the R & D, production and sales of heat exchanger products and circuit control products such as frequency conversion control chips and photovoltaic inverters, as well as environmental electrical products such as dehumidifiers and air source heat pump hot air fans
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