On June 18th, according to Maeil Business News Korea, several A-share listed companies disclosed the latest top ten circulating shareholders' holdings today, and the latest adjustments of well-known fund managers' products were exposed. Yang Ruiwen and Qiaoqian adjusted the fund's position in Guoli shares that they hold, but there was some difference in the adjustment direction. Wan Minyuan, who specializes in pharmaceutical investments, also reduced their shareholding in Yixintang recently. It is worth noting that the equity positions of related funds at the end of the first quarter are maintained at a relatively high level, which to some extent also restricts the effectiveness of funds in further bullish and medium- to long-term layout. Although active products may explore potential bull stocks, it is becoming increasingly difficult to create more excess returns through stock selection in the current shortage of incremental funds.