Core Insights - The best-performing fund managed by manager Song Lu in Q3 2025 is the Guotou Shuangzai LOF (161216), with a net value increase of 2.63% [1][2]. Fund Performance Summary - Guotou Shuangzai LOF has an annualized return of 6.52% and a scale of 12.45 billion yuan, with its top holding being Top Group [2]. - Guotou Ruijin Shuangzai Bond C has a scale of 1.85 billion yuan and an annualized return of 6.61%, with the same top holding [2]. - Guotou Ruijin Shuangzai Bond D has a scale of 0.46 billion yuan and an annualized return of 6.82%, also holding Top Group as its primary stock [2]. - Guotou Ruijin Shuangzai Bond E has a scale of 0.00 billion yuan and an annualized return of 6.42%, maintaining Top Group as its first heavy stock [2]. Manager's Historical Performance - During Song Lu's tenure as the manager of Guotou Ruijin New Opportunities Flexible Allocation Mixed A (000556), the cumulative return reached 128.11%, with an average annualized return of 22.5% [2]. - The fund had 116 adjustments in heavy stock holdings, with a success rate of 68.1% for profitable trades [2]. Notable Stock Adjustments - Significant stock adjustments include: - Tongwei Co., Ltd. was held from Q2 2020 to Q4 2020, yielding an estimated return of 120.32% with a company performance growth of 36.95% [3][5]. - Daying Electronics was held from Q2 2017 to Q3 2017, with an estimated return of 99.55% and a company performance growth of 15.29% [3][5]. - Ming Tai Aluminum was held from Q1 2022 to Q4 2022, resulting in an estimated return of -41.46%, despite a company performance growth of 12.87% [4][6].