Maotai "Fund Status" Declines, Zhang Kun Continues to Increase his Holdings

Affected by the weak performance of the liquor sector, the stock price of Guizhou Maotai has shown weakness, and has also been reduced by some funds, its "fund position" is not as good as before. Data shows that Guizhou Maotai, from being the third largest heavy asset stock for stock-oriented funds at the end of the second quarter, has fallen to the tenth largest heavy asset stock at the end of the third quarter. In just one quarter, it has dropped seven places, which is rare in recent years. In the third quarter, fund companies such as China Merchants Fund, Huatai-PineBridge Fund, Penghua Fund, and China Asset Management & ZSL Fund have all increased their holdings of Guizhou Maotai. In contrast, there are more fund companies reducing their holdings, including Hua Xia Fund, E Fund Management, Huatai-PineBridge, Jiashi Fund, Invesco Great Wall, and Rich Funds. Star fund managers such as Zhu Shaoxing, Xiao Nan, and Lao Jienan have taken actions to reduce their holdings. In contrast, Zhang Kun, who has long been heavily invested in the consumer sector, still "loves" liquor. For example, the E Fund Blue Chip Selection, managed by him, slightly increased its holding of Guizhou Maotai in the third quarter, making it the third largest heavy asset stock. Wind data shows that the above-mentioned funds had a return of 16.37% in the third quarter. As of October 29, the year-to-date return is relatively lower, at 13.97%.