Single bet on energy stocks! For example, "hoarding" hotels! There is also a "top flow" fund manager's mind exposed.

65438+1On October 20th, another batch of products owned by "Top Stream" fund managers disclosed the fourth quarterly report of 2022, among which the highlights were frequent: in 2022, Public Offering of Fund champion Huang Hai put all his awkward shares on the energy track; Caitong Fund Jinzicai is optimistic about hotels and power sectors in the fourth quarter; Chen Jun, Executive Deputy General Manager (Acting General Manager) of Soochow Fund, loves clean energy?

Wanjia Fund Yellow Sea: Single Gambling Energy Track

65438+1On October 20th, Wanjia Fund disclosed the "champion" of the performance of active equity funds in 2022, namely Wanjia Macro Timing Strategy, Wanjia Select and Wanjia Xinli. In terms of scale changes, by the end of the fourth quarter of 2022, the scales of the three funds were 65.438+80.4 million yuan, 933 million yuan and 985 million yuan respectively, while by the end of the third quarter of 2022, the scales of the three funds were 65.438+82.2 million yuan and 654.38+0.03 1 respectively.

From the perspective of position adjustment, taking the macro multi-position strategy Wan, the largest of the three funds, as an example, Huang Hai said in the fourth quarter of 2022 that the fund significantly reduced its holdings of real estate stocks expected to be realized by the policy, and traded consumer stocks and banking stocks at the same time, further increasing its holdings of resource stocks such as coal and oil and gas on dips. Specifically, compared with the third quarterly report in 2022, Huanghai increased its holdings of energy stocks such as Shaanxi Coal Industry, Shanxi Coking Coal and China Shenhua in the fourth quarter of 2022, while shares such as Jindi and Yingjia Winery have withdrawn from the top ten positions. At present, the top ten awkward stocks of this product all belong to upstream energy sectors such as coal and oil and gas.

Huang Hai said that looking forward to 2023, China's macro-economy will enter a weak recovery process, and A shares will show a trend of "strong expectations and weak reality", and the current valuation still needs to be shaken. With the cumulative effect of the steady growth policy gradually emerging, Shuang Sheng's performance and valuation may be improved in the second half of the year. At present, it is in a critical period of steady growth. Due to high dividends, high certainty, low valuation and low debt, upstream energy stocks are still scarce assets with both offensive and defensive capabilities and will continue to be held in heavy positions. At the same time, we will actively look for investment opportunities in low-valued midstream industries related to economic recovery.

Caitong Fund Jin Cai:

Optimistic about the hotel and power sector.

65438+1On the evening of October 20th, Caitong Fund disclosed the fourth quarterly report issued by Caitong Fuxin Ding Kai and managed by Jin Cai, general manager of the investment department.

In terms of warehouse adjustment, Jinzicai focused on hotels, power equipment and other industries in the fourth quarter of 2022. Specifically, compared with the third quarterly report in 2022, Jincai increased its holdings of huadian power international and Datang Power Generation in the fourth quarter of 2022. In addition, BTG Hotel, Jinjiang Hotel, Dongfang Electric, CYTS, Junting Hotel and other stocks have become new heavyweights.

As Jin Zicai said in the fourth quarter of 2022, "In the fourth quarter of 2022, we made some adjustments in the industry configuration. We have increased our positions in the power sector and also increased our holdings in the service sector to adapt to fundamental changes. "

In terms of service industry, Jin Cai said that according to the experience of overseas resumption, the slope of service industry repair is high, and the volume and price of high-end and leisure service industries perform well. Moderate jiacang in the fourth quarter, continue to be optimistic.

In terms of power sector, Jin Cai said that with the improvement of coal cost and component cost, the performance trend of this sector will be upward in 2023. With the promotion of the strategic value of traditional thermal power sector, the strategic value of power grid as a peak-shaving energy source is increasingly prominent. The flexible transformation of thermal power has become one of the important means for operators to obtain scenic resource indicators. The industry has entered a recovery growth, and the policy will actively encourage the healthy development of the industry. The sharpness of the power industry is expected to increase at some stage in 2023.

Wu Dong Fund Chen Jun:

Clean new energy will usher in a more prosperous cycle.

Soochow Fund also disclosed the fourth quarterly report of 2022 by Chen Jun, the executive deputy general manager (acting general manager), on October 20th, 65438, which was Dongwu Xiang Xing Growth Mix and Dongwu Hong Xing One-year Holding Mix respectively. By the end of the fourth quarter of 2022, the scale of the two funds was 903 million yuan and 568 million yuan respectively.

In terms of position adjustment, taking Soochow, the largest of the two funds, as an example, compared with the third quarterly report in 2022, Jun Chen increased its holdings of Deere Laser, Deye, Xu Sheng Group and Top Group in the fourth quarter of 2022, and reduced its holdings of Jade Bird Fire Protection, Longji Green Energy and Dongfang Cable. In addition, Shaanxi Drum Power, Trina Solar and Zhongke Chuangda are all new heavyweights.

Chen Jun said that in the process of finding the bottom, the market has explored various hot spots such as financial real estate, tourism chain, consumption plate and credit creation plate, which are closely related to policies.

Looking ahead, Chen Jun said that the international environment is expected to improve significantly. After the domestic environmental factors subside, even if there are repeated, economic recovery will be inevitable. The stock market is expected to have opportunities in the next six months. With the passage of time, the clean energy sector with large growth space, high growth rate and solid fundamentals is expected to usher in a more prosperous development period in 2023, and the valuation is also attractive. We will continue to pay attention to China's internationally competitive clean energy field. Energy storage, photovoltaic, sea breeze and auto parts are expected to be full of opportunities and pay attention to the long-term investment value of excellent companies.