丘栋荣离任后，代表作隐形重仓股“换血”，持有人缩水9万户

Core Viewpoint - The departure of star fund manager Qiu Dongrong has led to significant changes in the holdings of the funds he managed, resulting in a decrease in the number of fund holders and a substantial drop in management fees for the related products [1][9][10]. Fund Performance and Changes - Following Qiu Dongrong's departure, the number of holdings in the flagship fund, Zhonggeng Value Navigation Mixed Fund, decreased from 135 to 81, with a turnover rate of 161.1% [5][6]. - New significant holdings include Changchun High-tech, Zijin Mining, and Shandong Gold H-shares, while reductions were made in China Overseas Grand Oceans Group and BYD Electronics [5][6]. - The fund's management fee dropped from 4.19 billion to 1.85 billion, a decrease of 55.85%, with Zhonggeng Value Navigation Mixed Fund's management fee falling from 155 million to 63.39 million, a 59.13% decline [10]. Investor Behavior - The total number of fund holders decreased by 90,000, from 348,500 to 258,500, a decline of 25.84% [9]. - Institutional investors also reduced their holdings in most of the funds, with the exception of Zhonggeng Hong Kong Stock Value Fund, which saw a 13.08% increase [9][10]. Investment Strategy Shift - The new fund managers are focusing on sectors with strong growth potential, such as pharmaceuticals, smart electric vehicles, and the AI industry, while also considering domestic consumption and real estate sectors [7][8]. - The adjustment in hidden heavy stocks reflects a shift in investment style, aligning with current market trends and focusing on industry leaders in specific sectors [8].