individual holdings of listed funds are exposed.

in recent years, the performance of active equity funds has been below expectations, while exchange-traded etfs and lofs (hereinafter collectively referred to as "listed funds") have been more favored by individual investors, who have invested heavily in buying listed funds.

the latest disclosed semi-annual fund report shows that many individual investors have placed heavy bets on listed funds. some individual investors have spent more than 500 million yuan to buy listed funds, while others have bought more than 30 listed funds in a diversified manner.

30 people hold listed funds with a market value of over 100 million yuan

statistics from securities times and china securities journal reporters show that as of the end of june, 30 individual investors among the top ten holders of listed funds held listed funds with a market value of more than 100 million yuan, a significant increase in the number compared with previous years. this also indirectly reflects the trend of individual investors' preference shifting to passive investment.

compared with over-the-counter funds, listed funds have significant advantages such as low fees, good liquidity, and high transparency. they can also be traded directly on the exchange like stocks, and have been favored by more and more investors in recent years.

although we don’t know the backgrounds of these individual investors, they are truly “big individual investors” in the fund industry.specifically, wei hong and zhao hongyi hold listed funds worth more than 500 million yuan, liang ruian and yang zugui hold listed funds worth more than 400 million yuan, and li gaiteng, su weidong and ge suqin hold listed funds worth more than 300 million yuan.

if we look at the names alone, the names of many individual investors in listed funds are quite similar to those of private equity managers and hot money bosses who frequent the capital market.

china securities journal also noted that many "bullish individual investors" dared to place heavy bets on a single fund. zhao hongyi holds 213 million shares of huaxia sse 50 etf, appearing in the list of the fund's top ten holders for the first time, accounting for 0.46% of the fund's total listed shares.

as of the middle of this year, the scale of huaxia sse 50 etf was 113.005 billion yuan, making it the third largest equity etf in the market. zhao hongyi spent 500 million yuan to bet on an etf, which is quite generous.

wei hong is the second largest holder of invesco great wall nasdaq technology market cap weighted etf, holding 230 million shares of the fund with a latest market value of 393 million yuan.in addition, wei hong also holds 78 million shares of hua xia nasdaq 100 etf and 28 million shares of hua an nasdaq 100 etf. as of the end of june, wei hong appeared in the top ten holders list of three qdiis, with a total market value of 589 million yuan.

it is worth noting that the invesco great wall nasdaq technology market value weighted etf was established in july 2023, and wei hong appeared in the list of top ten holders of the fund's semi-annual report this year for the first time.this means that wei hong built a large position in invesco great wall nasdaq technology market cap weighted etf in the first half of this year.wind data shows that the invesco great wall nasdaq technology market cap weighted etf has increased by 28.52% this year, ranking first in the market's fund growth list.

unlike wei hong and zhao hongyi, who appeared in the list of listed fund holders for the first time, yang zugui is a "frequent visitor" of listed funds. data shows that yang zugui has appeared in the list of the top ten holders of listed funds many times. yang zugui's preference is also different from the above two people. he prefers chinese internet theme funds. as of the end of june, yang zugui was the third largest holder of gf csi overseas china internet 30 etf and harvest csi overseas china internet 30 etf, holding 404 million and 154 million shares respectively, with a market value of 316 million yuan and 120 million yuan respectively.

shi heping is also a typical representative of those who have spent a lot of money to buy listed funds in recent years. at the end of 2023, he first appeared in the list of top ten holders of cathay csi all-share securities company etf, ranking eighth. shi heping continued to increase his holdings in the etf in 2024, and currently holds 352 million shares of the etf, with a market value of 276 million yuan, making him the second largest holder of the etf. in addition, shi heping also appeared in the list of top ten holders of yinhua csi infrastructure etf and fuguo chinext enhanced strategy etf.

in addition, fan qiuyue holds 262 million yuan of e fund csi overseas internet etf, ge suqin holds 233 million yuan of bosera hang seng healthcare etf, and li gaiteng holds 221 million yuan of e fund csi 300 medical and healthcare etf.

the fund "sea king" bought 36 funds crazily

unlike some individual investors who like to concentrate their investments in one fund, many individual investors choose to diversify their investments and buy a large number of listed funds.

statistics from china securities journal reporters show that gao derong, qian zhongming, shao changhong, yang kai, huang yongyao, pan xiaoyan and gu duanxin each hold more than 10 listed funds. among them, qian zhongming, gao derong, shao changhong and yang kai have always adhered to a "wide-net" investment style and often appear in the list of the top ten holders of listed funds.

gao derong appears on the list of top ten holders of 36 listed funds, such as tianhong tianli lof, cathay valuation lof, citic prudential cycle lof, e fund keshun fixed open, hongtu innovation select lof, and dongfanghong ruiman lof. unlike other investors who prefer etfs, gao derong's investment portfolio is almost entirely composed of lof funds.

qian zhongming appears in the list of top ten holders of 29 listed funds, including huatai science and technology innovation board, active allocation fof, chuangye fuguo fixed open, chinext 2-year fixed open, gf chinext fixed open, and wanjia science and technology innovation board. he favors the regularly opened science and technology innovation board and chinext theme funds.

however, most of the funds purchased by individual investors are lof products. in recent years, the etf market has risen, and the lof market has been trading flat, with low liquidity, and the scale of many lofs has continued to shrink. therefore, even if the amount held is not high, it is often possible to enter the list of the top ten holders of lof. most individual investors who hold many listed funds even hold less than 100 million yuan.

in addition to qian zhongming, other individual investors who hold large positions and diversify their investments include su weidong, huang qiuyuan and liang ruian.

su weidong holds 10 listed funds, including hong kong securities etf, hang seng technology etf, hang seng etf, and hang seng pharmaceutical etf. most of them are hong kong stock theme funds, with a total holding size of 384 million yuan. the largest holding size of a single fund is only 89 million yuan.

huang qiuyuan holds five listed funds, including gold etf, dow jones etf, harvest gold lof, oriental fortune chuangyou fixed open and guotou ruili lof, with a total market value of 172 million yuan.

liang ruian entered the top ten holders list of cathay pacific nasdaq 100 etf, gf nasdaq 100 etf, huaan gold etf and bosera gold etf, with a market value of 491 million yuan. liang ruian entered the top ten holders list of gf nasdaq 100 etf, huaan gold etf and bosera gold etf for the first time this year, and continued to increase his position in cathay pacific nasdaq 100 etf, becoming the largest holder of cathay pacific nasdaq 100 etf.

it is not difficult to find that us stock theme funds and gold funds have become important assets for individual investors to increase their holdings this year. invesco great wall nasdaq technology market value weighted etf, cathay pacific nasdaq 100 etf, huaxia nasdaq 100 etf, gf nasdaq 100 etf, boshi s&p 500 etf, etc., all have individual investors holding a market value of more than 100 million yuan. liang ruian, huang qiuyuan and jiang rongfang all hold more than 100 million yuan in huaan gold etf.

editor: li dan

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