With the completion of the fund's first quarterly report, how the public offering fund holding a lot of money adjusts and converts shares in the changing market conditions, and which stocks have been deployed against the trend, has attracted much attention from the market
The author found that although China's A-share market has been repeatedly fluctuating recently, the new energy sector is still favored by funds
"Ningda Index" is a new energy stock represented by the CATL era, representing a high-growth track leader
It is one of the major investment lines that has received the most attention from the market in the past year, and it is also the focus of public fund placement
As the world's largest power battery company CATL, its main businesses include power battery systems, energy storage systems, and lithium battery materials
In the secondary market, the company's stock price has continued to decline since December 3, 2021, when the company's stock price reached a maximum of 692 yuan per share.
It has now fallen by nearly 40%, and its market value has evaporated by more than 600 billion yuan, and it has fallen below one trillion yuan on April 20.
market value, but still heavily held by the fund
Statistics show that as of the end of the first quarter, among the 4,463 actively invested stock-oriented funds included in the statistics, a total of 1,485 funds held a heavy position in CATL, an increase of 188 compared with the fourth quarter of last year, holding a total of 215.
4413 million shares.
The market value reached 110.
371 billion yuan, accounting for 10.
57% of the outstanding shares
CATL became the stock with the largest market value held by active equity funds in the first quarter
This is also the second time since the third quarter of last year that CATL has won the top heavy-holding stock of public funds
As the leading companies in the high-growth new energy track, companies such as LONGi and Sungrow have also been favored by the fund
LONGi, the leading company in photovoltaic products, ranks fourth among the fund's heavy-holding stocks.
The fund holds a total market value of 43.
386 billion yuan, accounting for 11.
1% of the tradable shares.
The market value is 17.
551 billion yuan, accounting for 14.
93% of the tradable shares; Huayou Cobalt Fund holds a total market value of 21.
009 billion yuan, accounting for 17.
74% of the tradable shares; Yiwei Lithium Energy Fund holds a total market value of 19.
68 billion yuan, accounting for 13.
29% of the tradable shares; The Czech Share Fund holds a total market value of 17.
843 billion yuan, accounting for 10.
91% of the tradable shares; JA Technology Fund holds a total market value of 15.
04 billion yuan, accounting for 25.
14% of the tradable shares
In addition, the top 50 heavyweight stocks held by public funds include Tongwei, Tianqi Lithium, Putailai, Tinci Materials, and Trina Solar
It is worth noting that as the A-share market fluctuated and adjusted in the first quarter, new energy-themed funds diverged
Wind data shows that among the 30 themed funds with "new energy" in their names (consolidated statistics of each share), 26 reduced their positions in the first quarter, and only 4 increased their positions against the trend
Specifically, the stock position of Changjiang New Energy Industry A at the end of the first quarter was 75.
86%, which was 11.
3 percentage points lower than the 87.
16% position at the end of last year
Funds such as Bosera New Energy Theme A, BOC Securities New Energy A, and Invesco Great Wall New Energy Industry A increased their positions against the trend.
The first two funds increased their positions by 3.
84 and 3.
59 percentage points respectively
Guo Xiaolin, manager of Bosera New Energy Theme A Fund, said that from the perspective of the stock market, the current valuation of large and medium-sized stocks has fallen below the historical center, and the growth and valuation of small and medium-sized stocks are also close to historical lows
In such a position, they are still optimistic about the new energy industry
Considering the growth rate of the industry, compared with similar emerging industries in history, the new energy sector as a whole is at a relatively low valuation, both in terms of relative and absolute valuations
Shi Bo, manager of the Southern New Energy Industry Trend Fund, believes that short-term sudden risk factors and financial factors have brought about changes in expectations and changes in the valuation system
From the current point of view, the overall dynamic valuation center of the new energy sector has also declined.
Photovoltaic has come to near the median value of the past three years, and lithium batteries have also come to near the low point of the past three years
When these uncertainties are gradually verified in the future, the market will still pay more attention to the growth of the new energy sector