养老金视角，本期较上一期持股增加的养老金基金共计1个，即基本养老保险基金一二零五组合，持股 增加占比达0.3%。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 公募基金方面本期较上一季度持股减少的公募基金共计4个，包括易方达改革红利混合、易方达品质动 能三年持有混合A、南方中证1000ETF、招商资管核心优势混合D，持股减少占比达0.21%。本期较上一 季度新披露的公募基金共计7个，主要包括中信保诚周期轮动混合(LOF)A、中信保诚增强收益债券 (LOF)A、南华丰淳混合A、中信保诚先进制造混合A、万家洞见进取混合发起式A等。本期较上一季未 再披露的公募基金共计238个，主要包括易方达科翔混合、易方达新经济混合、国寿安保智慧生活股票 A、华夏中证1000ETF、易方达均衡成长股票等。 2025年10月28日，东睦股份(600114.SH)发布2025年第三季报。截至2025年10月27日，共有16个机构投 资者披露持有东睦股份A股股份，合计持股量达2.00亿股，占东睦股份总股本的31.63%。其中，前十大 机构投资者包括睦特殊金属工业株式会社、宁波金广投资股份有限公司、香港中央结算有 ...

外资态度来看，本期较上一季度持股减少的外资基金共计1个，即香港中央结算有限公司，持股减少占 比达0.37%。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 2025年10月25日，道通科技(688208.SH)发布2025年第三季报。截至2025年10月24日，共有6个机构投资 者披露持有道通科技A股股份，合计持股量达7352.35万股，占道通科技总股本的10.97%。其中，机构 投资者包括香港中央结算有限公司、达孜熔岩投资管理有限公司-平潭熔岩新战略股权投资合伙企业(有 限合伙)、玄元私募基金投资管理(广东)有限公司-玄元科新46号私募证券投资基金、深圳市道通科技股 份有限公司-2024年员工持股计划、国投证券股份有限公司-博时上证科创板人工智能交易型开放式指数 证券投资基金、招商银行股份有限公司-南方中证1000交易型开放式指数证券投资基金，机构投资者合 计持股比例达10.97%。相较于上一季度，机构持股比例合计下跌了2.95个百分点。 公募基金方面，本期较上一期持股增加的公募基金共计1个，即博时科创板人工智能ETF，持股增加占 比达0.12%。本期较上一季度持股减少的公募基金共 ...

Core Viewpoint - The article emphasizes the importance of fund managers who have achieved significant returns over a five-year period, highlighting those with over 500% returns as particularly noteworthy [3]. Fund Performance Summary - As of October 9, 2023, there are 145 active equity funds that have doubled their returns over a five-year period. Notable funds include: - 诺安先锋混合A with a return of 1155.96% - 摩根新兴动力混合A with a return of 792.39% - 易方达科翔混合 with a return of 699.47% - 中欧新蓝筹混合A with a return of 540.05% - 万家品质生活A with a return of 533.43% - 万家新兴蓝筹A with a return of 532.55% [3][4]. Investment Philosophy - The investment philosophy of fund managers like 杨谷 focuses on value investing and finding market safety margins. Key considerations in stock selection include: - Customer stickiness, which addresses whether a company can solve user pain points [5]. - Establishment of barriers such as technological, product, or sales barriers, which are crucial for sustained growth [5]. - Presence in a blue ocean market, indicating less competition and more growth potential [5]. Notable Fund Managers - 莫海波 from 万家基金 manages six funds, the highest number among fund managers listed, with significant returns across all [6][7]. - The article also highlights the performance of other fund managers, such as 徐彦 from 大成基金, whose funds have maintained maximum drawdowns below -20% [10][11].

Core Viewpoint - Nasda's semi-annual report for 2025 indicates a significant institutional investment, with 22 institutional investors holding a total of 641 million shares, representing 45.07% of the total share capital [1] Institutional Investment - The top ten institutional investors collectively hold 41.41% of Nasda's shares, with a 0.91 percentage point increase from the previous quarter [1] - Major institutional investors include Zhuhai Saina Technology Co., Ltd., Hong Kong Central Clearing Limited, and various funds managed by E Fund and China Construction Bank [1] Public Fund Activity - Three public funds increased their holdings, with a total increase of 0.13%, while seven public funds decreased their holdings, with a total decrease of 0.32% [2] - New public funds disclosed during this period include E Fund CSI 300 ETF and Zhongjin New Star Stock A [2] - Nineteen public funds were not disclosed in this period, indicating a potential shift in investment strategies [2] Pension Fund Perspective - One pension fund, the Basic Pension Insurance Fund 1205 Combination, increased its holdings by 0.3% [2] Foreign Investment Attitude - One foreign fund, Hong Kong Central Clearing Limited, increased its holdings by 0.25% [2]