The top ten largest holdings of public funds are exposed! Zhang Kun’s performance was “given a thumbs up” by CNOOC

Source: Market Value Storm It’s rare to guess right once.

Author | Market Value Fengyun Fund Research Department Editor | Xiaobai April every year is the intensive disclosure period for the first quarter reports of public funds. As of April 24, most funds in the market have disclosed their first quarter reports for 2024.

Choice data shows that the size of the public fund market reached a new high in the first quarter, reaching 28.8 trillion yuan, a month-on-month increase of 5.6%. The scale of ETFs also continued to exceed the highest point, with the current scale reaching 2.4 trillion yuan, and the scale of non-monetary ETFs exceeded 2 trillion yuan. .

The disclosure of the first quarter report can not only give us a macro feeling of the entire fund market, but we can also understand which stocks public funds prefer, what changes are in public positions, and the specific allocation of various industries through the content of the first quarter report.

To this end, Fengyun Junte compiled the list of the top ten largest holdings of public funds in the first quarter and other information to help you get a glimpse of the position adjustment path of public funds during the first quarter.

Kweichow Moutai ranks first, and funds prefer CATL. Choice data shows that in the first quarter of 2024, the top three holdings of all public funds are Kweichow Moutai (600519.SH), CATL (300750.SZ), and Wuliangye (000858.SZ). ), with the total market value of shareholdings being 147.8 billion yuan, 110.8 billion yuan, and 62.3 billion yuan respectively.

(Source: Choice data, market value Fengyun tabulation) Among the top ten heavily held stocks, except for Luzhou Laojiao and Mindray Medical, the remaining eight stocks have received varying degrees of increase in holdings.

Affected by the large-scale rebalancing of public equity funds, the top ten companies that increased their holdings all rose in the first quarter, with an average increase of 27.5%, while the top ten companies that were reduced in holdings all fell in the first quarter, with an average decrease of 19.6%. .

Among active equity funds, CATL received the largest increase in holdings, with a market value of 13.47 billion yuan, followed by Zijin Mining (601899.SH) and Midea Group (000333.SZ), which each increased their holdings by 11.4 billion yuan. , 7.92 billion yuan.

The top three reductions are WuXi AppTec (603259.SH), Kweichow Moutai (600519.SH) and Luxshare Precision (002475.SZ), with market values ​​of 17.61 billion yuan, 10.62 billion yuan and 6.2 billion yuan respectively. .

(Source: Choice data, market capitalization Fengyun tabulation) The top ten listed companies with the largest number of funds are CATL, Kweichow Moutai, Zijin Mining (601899.SH), Midea Group (000333.SZ), and Wuliangye (000858. SZ), Luxshare Precision (002475.SZ), InnoLight (300308.SZ), Hengrui Pharmaceuticals (600276.SH), Tencent Holdings (00700.HK) and Yangtze Electric Power (600900.SH).

Among them, CATL temporarily ranks first among all stocks with a total amount held by 1,529 funds, with an increase of more than 15% in the first quarter, and it ranks first in terms of increasing market value and number of funds held.

(Source: Choice data, market value Fengyun tabulation) Kweichow Moutai currently ranks second among all stocks with a total amount held by 1,523 funds.

Funds with larger holding increases include E Fund CSI 300 ETF (510310.SH), ChinaAMC SSE 50ETF (510050.SH), Harvest CSI 300ETF (159919.SZ), Huatai-Berry CSI 300ETF (510300.SH), ChinaAMC Mainstream broad-based products such as CSI 300 ETF (510330.SH).

Due to the influx of large amounts of capital, the above funds increased their holdings of Kweichow Moutai by more than 2 million shares in the first quarter.

(Source: Choice data) Zhang Kun, Liu Gesong and other top players announced their warehouse adjustment ideas. Zhang Kun of E Fund has recently fallen into the \”trouble of happiness\”.

Because China National Offshore Oil (00883.HK) surged 39.3% in the first quarter, it became Zhang Kun’s largest holding. Due to the “Double Ten Restrictions” on public offerings, Zhang Kun was not allowed to continue to do so when China National Offshore Oil surged. Reduce positions to limit the proportion of the stock in the fund\’s net value to less than 10%.

(Source: Choice data) Take E Fund Blue Chip Select as an example. When the annual report was released last year, the fund held 280 million shares of CNOOC, accounting for 7.9% of the fund\’s net asset value and ranking sixth in weight.

(Source: Choice data) After China National Offshore Oil experienced a surge in the first quarter, the fund sold 34 million shares of China National Offshore Oil. The stock accounted for 9.9% of the fund’s net asset value and was promoted to the largest holding. Similar situations also occurred simultaneously with other funds under Zhang Kun’s name.

(Source: Choice data) However, Zhang Kun’s performance so far this year is very average, with a size-weighted return of only 1.8%.

Coincidentally, Cyrus (601127.SH) has also returned to the position of the largest holding of Guangfa Fund Liu Gesong with its 14.1% first-quarter increase. Compared with the 2023 annual report, Liu Gesong has readjusted Deye Shares and Jianghuai Automobile, and In its first quarter report, it remained optimistic about new energy vehicles and the semiconductor industry.

He said that he is still optimistic about the policy\’s boosting effect on consumer demand for new energy vehicles and consumer electronics terminals, so he also maintains a certain position allocation in the new energy vehicles and semiconductor industries.

However, his return rate this year is still relatively poor, and the size-weighted return rate has fallen by 12%, which is really difficult to bear.

(Source: Choice data, market value chart)

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