This problem needs specific analysis. Generally speaking, the more fund positions, the more optimistic fund companies are about a certain industry or stock, which may bring higher returns. However, a large number of fund positions may also lead to an increase in fund volatility, because the fund's investment portfolio is more concentrated. However, the more positions held by non-fund institutions, it may mean that more retail investors or small-cap investors are buying a certain industry or stock, which may bring greater market volatility and risks. Therefore, we should choose the right position according to the specific market situation and investment strategy.