KWEICHOW MOUTAI(SH:600519) Xin Lang Cai Jing·2025-11-01 05:28Group 1 - The core viewpoint is that Guizhou Moutai's stock price has weakened due to the poor performance of the liquor sector, leading to a significant reduction in its position among actively managed equity funds [1] - Guizhou Moutai dropped from being the third largest holding in actively managed equity funds at the end of Q2 to the tenth largest by the end of Q3, marking a decline of seven positions in just one quarter, which is rare in recent years [1] - Despite some fund companies like China Merchants Fund and Huatai-PB increasing their holdings in Guizhou Moutai during Q3, more fund companies, including Huaxia Fund and E Fund, have reduced their positions [1] Group 2 - Notable fund managers such as Zhu Shaoxing and Xiao Nan have also reduced their holdings in Guizhou Moutai, contrasting with Zhang Kun, who has increased his investment in the stock [1] - The fund managed by Zhang Kun, E Fund Blue Chip Select, slightly increased its stake in Guizhou Moutai, making it the third largest holding in the fund [1] - The funds mentioned reported a return of 16.37% in Q3, with a lower year-to-date return of 13.97% as of October 29 [1]