The disclosure of the Fund's Third Quarterly Report is nearing its end, with many celebrity fund managers including Fu Pengbo, Zhang Kun, Zhao Feng, and Xie Zhiyu appearing.

In the third quarter, fund managers' position adjustments and stock exchanges were all active, and there was some coincidence in the direction of position adjustments. For example, Fu Pengbo and Zhang Kun all chose to increase their holdings of liquor stocks in the third quarter; Fu Pengbo's Ruiyuan Growth Value and Xing Quan Helun, managed by Xie Zhiyu, all appeared among the top ten tradable shareholders of Lingyi Manufacturing.

Some fund managers

Kakura liquor section

The fourth quarter is the final sprint period for funds to compete in the annual performance rankings. It is particularly important for star fund managers to adjust positions and exchange stocks at this time.

Ruiyuan Growth Value, managed by Fu Pengbo, deputy general manager of Ruiyuan Fund, is a fund that has received a lot of attention from investors and industry insiders. By the end of the third quarter, the fund's stock position was 92.56%, maintaining a high position of over 90% for two consecutive quarters.

By the end of the third quarter, Ruiyuan's top ten growth value stocks were Longji Co., Ltd., Dongfang Yuhong, Guocera Materials, Sannuo Biology, Lixun Precision, Wuliangye, Wanhua Chemical, Pilot Intelligence, Kweichow Moutai, and Renfu Pharmaceutical. Fu Pengbo reduced his holdings of Longji shares in the third quarter, but as stock prices continued to rise, the market value of Longji's holdings continued to rise. At the end of the third quarter, Guocera Materials replaced Guocera Materials as Ruiyuan's largest share in growth value.

Kakura Liquor shares are the most prominent operation in the Ruiyuan Growth Value Hybrid Fund's quarterly report. Compared to the end of the second quarter, Wuliangye and Kweichow Moutai were added to the top ten heavy-duty stocks, while leading intelligence in the new energy sector was also newly added.

The holdings of Xinwei Communications, whose stock price recently collapsed, were reduced by Fu Pengbo. Three stocks, including Xinwei Communications, Kellitai, and DreamNet Group, have already withdrawn from the top ten heavy-held stocks of Ruiyuan Growth Value.

Zhang Kun also made a big splash in the liquor sector in the third quarter. Luzhou Laojiao, Yanghe Co., Ltd., and Kweichow Moutai were the top three heavyweight stocks of the Yi Fangda Blue Chip Select Fund under his management, and Wuliangye was also among the top ten heavy-traded stocks. Yanghe Co., Ltd. and Hikvision also entered the top ten new heavy-traded stocks; Yao Ming Biotech and Tiantan Biotech left the top ten heavy-traded stocks.

Real estate, new energy, Hong Kong stocks

It's also an important direction to increase holdings

Hong Kong stocks provided more diversified high-quality assets than A-shares. In the third quarter, Hong Kong stock positions of some fund managers increased compared to the second quarter.

Ruiyuan Growth Value held 8.41% of Hong Kong stocks in the third quarter, up nearly 4 percentage points from the previous quarter. Xie Zhiyu, assistant to the general manager of Xing Quan Fund and investment director of the Fund Management Department, held 24.6% of the Hong Kong stock positions in the third quarter, compared to 20.96% in the previous quarter, showing a marked increase in holdings. The Hong Kong stock holdings ratio of the E-Fangda Blue Chip Select Fund reached 40% at the end of the third quarter, a slight increase in holdings from the previous quarter.

Zhang Kun said in the Third Quarterly Report that in order to judge the expected return on investment, its fund allocates a high percentage of high-quality Hong Kong Stock Connect companies. He believes that to the extent that RMB assets can be invested, shares in high-quality companies within Hong Kong Stock Connect are very attractive equity assets.

Looking at the top ten heavy-held stocks, the Hong Kong Stock Exchange, and Meituan Dianping of Hong Kong stocks appeared among the top ten heavy-held stocks of star fund managers such as Xie Zhiyu and Zhang Kun.

There are also fund managers that appropriately adjusted portfolio balance in the third quarter to increase the allocation of undervalued sectors such as real estate. Zhao Feng, manager of Ruiyuan Balanced Value Fund, said that in the third quarter, holdings of pharmaceutical and consumer stocks that had increased significantly in the previous period were reduced, and holdings of lower-valued individual stocks such as real estate were increased. Vanke A, a leading real estate stock, also entered the top ten heavy-held stocks of Ruiyuan Equilibrium Value, managed by Zhao Feng, and Xing Quan Trend Fund managed by Dong Chengfei.

Wells Fargo Fund Zhu Shaoxing and China-Europe Fund Zhou Yingbo are both optimistic about SF Holdings.

The Fuguo Tianhui Fund, managed by Zhu Shaoxing, increased its holdings of Zhifei Biotech and SF Express Holdings significantly in the third quarter, increasing its holdings of Zhifei Biotech by more than 6 million shares, holding a market value of more than 1.5 billion dollars; increasing its holdings of SF Express Holdings by 4.5 million shares, with a market value of 1,056 billion. These two stocks became Zhu Shaoxing's top two heavy-held stocks. Furthermore, Bank of Ningbo and Lixun Precision have newly joined Fuguo Tianhui's top ten heavy-held stocks.

The top ten heavy-held stocks of the China-Europe Era Pioneer managed by Zhou Yingbo changed seven in the third quarter. SF Express Holdings, Ningde Times, Wanhua Chemical, Goerre Co., Ltd., Huichuan Technology, Haier Smart Home, and Fuyao Glass entered the top ten new heavy-duty stocks, while Haida Group, Lixun Precision, and Mango Supermedia withdrew from the top ten heavy-held stocks.

Feng Mingyuan adjusted his positions relatively quickly. BOE A, Vail Shares, and Shenzhou Digital are the top three heavy-traded stocks of the Cinda Bank of Australia Renewable Energy Fund. These three stocks are all newly entered heavy-traded stocks. At the end of the second quarter, the fund's top two heavyweight stocks, Ofeiguang and Lixun Precision, had already withdrawn.