Zhang Kun, Liu Yanchun, Zhu Shaoxing collectively adjust portfolios in Q2, sharply cut baijiu holdings and shift to tech growth

Industry
โดย 的多样性·Read original
Summary · why it matters

The 2026 second-quarter reports of public funds show that well-known fund managers including Zhang Kun, Liu Yanchun, and Zhu Shaoxing collectively reduced their positions in core consumer assets such as baijiu during the second quarter, shifting their allocation focus toward the tech growth sector. In the top ten holdings of the E Fund Blue Chip Select managed by Zhang Kun, SMIC and Dongshan Precision were included for the first time. The concentration of holdings dropped from 90.5% at the end of the first quarter to 50.9%, and the overall position fell from 93% to 75%. The number of shares held in Wuliangye and Shanxi Xinghuacun Fenjiu declined by 70.68% and 70.91% respectively. The top ten holdings of the Invesco Great Wall Dingyi Mixed Fund managed by Liu Yanchun were completely replaced, with new additions including Konfoong Materials International and Zhongji Innolight. From the appointment of an additional manager on May 9 to June 30, the net value rose by 26.51%. The top ten holdings of the Fullgoal Tianhui Selected Growth Fund managed by Zhu Shaoxing underwent significant changes, with Zhongji Innolight and Zelgen Biopharmaceuticals entering for the first time. Kweichow Moutai dropped out of the top ten after being a major holding for 25 consecutive quarters, while the position in Sinocera was substantially reduced by 69.11%.

Impact on stocks 12

Materials▲ · 1 stocks
SMIC
0981-OL
▲ PositiveDemandrelevance

SMIC was added to the top ten holdings of Zhang Kun's fund, indicating increased institutional demand for the stock.

Others± Mixed · 11 stocks
Wuliangye Yibin Co Ltd
000858
▼ NegativeDemandrelevance

Fund manager Zhang Kun cut Wuliangye holdings by 70.68%, indicating reduced institutional demand for baijiu stocks.

Kweichow Moutai Co Ltd
600519
▼ NegativeDemandrelevance

Kweichow Moutai dropped out of the top ten holdings of Zhu Shaoxing's fund after 25 consecutive quarters, reflecting reduced institutional demand.

© 2026 MarketDXNews