茅台“基金地位”下滑，张坤继续加仓

Core Viewpoint - The performance of Guizhou Moutai's stock has weakened due to the poor performance of the liquor sector, leading to a significant reduction in its position among major equity funds [3]. Group 1: Fund Holdings - Guizhou Moutai has 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 [3]. - Several fund companies, including招商基金, 汇添富基金, and 鹏华基金, have increased their holdings in Guizhou Moutai during Q3, while more funds, such as 华夏基金 and 易方达基金, have reduced their positions [3]. - Notable fund managers like 朱少醒 and 萧楠 have also reduced their stakes, contrasting with 张坤, who has slightly increased his investment in Guizhou Moutai through his fund, 易方达蓝筹精选, making it the third-largest holding [3]. Group 2: Fund Performance - The funds that increased their holdings in Guizhou Moutai reported a Q3 return of 16.37%, while their year-to-date return as of October 29 was lower at 13.97% [3].