上市公司半年报披露收官，险资私募基金持股曝光。 成立最早、规模最大的鸿鹄基金已跻身至少6家上市公司前十大股东名单。其中，鸿鹄基金二期二季度末现身 于中国石油、中国神华前十大股东，鸿鹄基金三期1号位列中国石化前十大股东。鸿鹄基金一期跻身伊利股 份、陕西煤业、中国电信的前十大股东。 鸿鹄基金投资范围包括中证A500指数成份股中符合条件的大型上市公司，标的选取的标准是治理良好、经营 运作稳健、股息相对稳定、流动性较好，且具备良好回报的大盘蓝筹公司。 从上述6家上市公司来看，呈现出股息率较高、市值较大的特征。股息率方面，陕西煤业、中国神华、中国石 油股息率超过5%，伊利股份、中国石化在4%左右，中国电信超过3%。从市值来看，最小的伊利股份市值也 超千亿元，陕西煤业市值接近2000亿元，中国石化、中国电信、中国神华市值在6000亿元—8000亿元之间， 中国石油市值超过1.6万亿元。 鸿鹄基金是保险资金长期投资改革试点基金，已设立一期、二期、三期1号和三期2号等4只基金，合计规模 1100亿元，由国丰兴华担任基金管理人，国丰兴华由国寿资产和新华资产联合设立。 鸿鹄基金一期规模500亿元，2024年3月开始投资，至今年3 ...

Core Viewpoint - The article introduces a "Fish and Human" analysis method to evaluate investment opportunities based on market participants and profit opportunities, categorized into four quadrants [1]. Group 1: Human and Fish Analysis - The number of participants (humans) indicates market engagement, while the number of profit opportunities (fish) reflects potential gains. Metrics such as trading volume, online discussions, and news heat can be used to assess these factors [1]. - The analysis emphasizes that the assessment of participants and opportunities should be objective and independent of personal circumstances [1]. Group 2: Quadrant Summaries - **Many Humans, Many Fish**: High market interest and numerous profit opportunities, but also intense competition. Investors should leverage unique advantages to succeed in this environment [2]. - **Many Humans, Few Fish**: Overhyped market with high valuations and reduced profit opportunities. Investors need strong risk management skills and should seek undervalued assets or operational opportunities [3]. - **Few Humans, Few Fish**: Low market participation and limited opportunities. Investors should assess the potential for future opportunities and may need to wait patiently for market conditions to improve [4]. - **Few Humans, Many Fish**: Abundant investment opportunities with low valuations but low market attention. This quadrant is ideal for finding hidden gems before they attract more investors [5].