The first quarterly report of public funds in 2022 intensively disclosed that a number of “invisible heavy positions” of star fund managers have also surfaced one after another. The so-called “invisible heavy position stocks” of the fund mainly refer to two aspects: one is the heavy position stocks that rank 11th to 20th in the proportion of positions disclosed in the fund’s annual report and semi annual report; Second, in the first and third quarterly reports of the fund, the company did not appear in the top ten heavyweight stocks in the quarterly report of the fund, but appeared in the list of top ten circulating stock shareholders of listed companies.
Combined with the first quarterly report of the fund and the first quarterly report of listed companies, securities times · databao sorted out the latest invisible heavy positions of the fund. The “invisible” operation trend of fund managers in the first quarter can also see their views on the market to a certain extent.
exposure of fund’s hidden heavy positions
According to the statistics of data treasure, among the hidden positions in the first quarterly report of the fund, a total of 95 shares held a stock market value of more than 200 million yuan at the end of the period. From the perspective of industry distribution, the focus is on fund growth. Among them, 19 stocks were selected in the pharmaceutical and biological industry, and more than 10 stocks were selected in the two major industries of power equipment and electronics. In addition, there are more than five stocks in automobile, national defense and military industry and non-ferrous metal industry.
From the perspective of shareholding market value at the end of the period, China Europe healthcare a continued to hold a heavy position of Zhejiang Jiuzhou Pharmaceutical Co.Ltd(603456) , with a market value of nearly 2 billion yuan at the end of the period, ranking the first, and a heavy position of Jiangsu Hengrui Medicine Co.Ltd(600276) nearly 1.3 billion yuan, ranking the second. Ruiyuan growth value a heavy position Winning Health Technology Group Co.Ltd(300253) nearly 1 billion yuan, ranking third.
9 shares account for more than 6%
In terms of the proportion of shares held in circulating shares, 9 of the above-mentioned more than 90 shares are held by corresponding funds, accounting for more than 6% of the circulating shares, and Acrobiosystems Co.Ltd(301080) has the highest proportion, reaching 10.76%. According to the data, the first quarterly report of China Europe healthcare a holds Acrobiosystems Co.Ltd(301080) 215 million shares. China Europe healthcare a still ranks second with Zhejiang Gongdong Medical Technology Co.Ltd(605369) , accounting for 10.39%.
From the perspective of shareholding increase and decrease, the individual shares of the top ten new circulating shareholders of the fund include Jiangsu Hengrui Medicine Co.Ltd(600276) , Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) , 3Peak Incorporated(688536) and other individual shares, and the stock market value at the end of the period exceeded 500 million yuan. In terms of share increase, Huaxia energy a significantly increased its holdings of Tianrun Industry Technology Co.Ltd(002283) 2768 million shares and 46.57 million shares at the end of the period. In addition, Xingquan trend investment increased its holdings of State Grid Information&Communication Co.Ltd(600131) more than 20 million shares, and noan growth increased its holdings of Westone Information Industry Inc(002268) more than 8 million shares.
star fund latest trends
The latest trend of invisible heavy positions of star fund managers such as Ge Lan, Cai Songsong, Xie Zhiyu and Zhu Shaoxing has also attracted attention. According to the statistics of data treasure, more than 40 stocks hold invisible positions for the above-mentioned star fund managers. From the market value of shareholding at the end of the period, Glenn’s China Europe healthcare a heavy positions Zhejiang Jiuzhou Pharmaceutical Co.Ltd(603456) , Jiangsu Hengrui Medicine Co.Ltd(600276) , Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) , etc. In combination with the first quarterly report of listed companies and the annual report of the fund last year, Jiangsu Hengrui Medicine Co.Ltd(600276) obtained a slight increase of 420000 shares held by China Europe medical and health a in the first quarter, and Zhejiang Gongdong Medical Technology Co.Ltd(605369) , Jianmin Pharmaceutical Group Co.Ltd(600976) , etc. China Europe healthcare pointed out in the first quarterly report that it is still optimistic about the medium and long-term investment opportunities in the pharmaceutical and biological sector, but short-term market fluctuations are inevitable.
In terms of other star funds, Ruiyuan growth value a holds Winning Health Technology Group Co.Ltd(300253) , Suzhou Maxwell Technologies Co.Ltd(300751) , Sinocare Inc(300298) and other individual stocks, and its shareholding is relatively stable. Wells Fargo Tianhui a holds Yealink Network Technology Co.Ltd(300628) , Chongqing Department Store Co.Ltd(600729) , Zhuzhou Kibing Group Co.Ltd(601636) and other stocks, with an obvious trend of increasing positions. Zhu Shaoxing said in the first quarterly report of the fund that if we focus on a longer time dimension, it is meaningless to be overly pessimistic about the market. Other star funds also mainly increased their holdings. Noan growth increased its holdings of Westone Information Industry Inc(002268) 8 million shares, and Xingquan Herun, headed by Xie Zhiyu, increased its holdings of Xinjiang Daqo New Energy Co.Ltd(688303) , with an increase of more than 70%. In addition, Xingquan Herun also increased its holdings of Sieyuan Electric Co.Ltd(002028) , and two new stocks Inner Mongoliayuan Xing Energy Company Limited(000683) , Luoyang Xinqianglian Slewing Bearings Co.Ltd(300850) entered the top ten heavy positions.
Xie Zhiyu’s newly increased holdings of stocks are mostly new energy industry stocks. The stock prices of these stocks have continued to fall this year, but their performance is good. For example, the net profit of Xinjiang Daqo New Energy Co.Ltd(688303) first quarterly report increased by more than 6 times, and the dynamic P / E ratio was about 10 times.
12 shares fell more than 20% since April
Since April, the Shanghai and Shenzhen stock markets have continued to callback, the Shanghai stock index is approaching the previous low, and the Shenzhen Component Index, gem index and Kechuang 50 index have reached new lows. In terms of sectors, only food and beverage, transportation, commerce and retail and other sectors rose against the market. In this case, the invisible heavy position stocks of the above-mentioned more than 90 funds also performed poorly, with an average decline of more than 9% since April, 12 stocks falling more than 20%, Jianmin Pharmaceutical Group Co.Ltd(600976) , Zhejiang Tianyu Pharmaceutical Co.Ltd(300702) two stocks falling more than 30%, and Zhejiang Yongtai Technology Co .Ltd(002326) , Acrobiosystems Co.Ltd(301080) two stocks falling more than 25%.
Most of the above stocks with large decline are hidden positions of star funds, but most of the hidden positions of some star funds are stocks with good performance, and the valuation is not very high at present. For example, Xinjiang Daqo New Energy Co.Ltd(688303) , Inner Mongoliayuan Xing Energy Company Limited(000683) , Shandong Wit Dyne Health Co.Ltd(000915) and so on, the first quarter reported high growth and the dynamic P / E ratio was below 20 times. Whether such individual stocks can outperform the market in the future remains to be seen
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