The fund can't invest more than 5% in a single stock. The concentration of fund's centralized investment generally calculates the concentration of fund's shareholding, that is, the proportion of the top ten stocks held by the fund to the total assets of the fund. If it exceeds 40%, it is already very high. As for the industry, the upper limit of fund investment in stocks is generally 90%, and the concentration depends on whether the fund is an industry fund. If industrial funds are involved, they will concentrate on investing in a certain industry, and the proportion will be higher.