Core Insights - Yongying Technology Smart Selection A and C funds achieved net value growth of 32.28% and 32.03% respectively in Q2, ranking third and fourth among equity mixed funds [1][2][3] - The top ten holdings of the funds were completely replaced in Q2, with increased allocation to industries such as optical modules and computing power, featuring stocks like Xinyi Sheng, Zhongji Xuchuang, and Tianfu Communication [1][3][4] Fund Performance - The funds outperformed their performance benchmarks significantly, with both A and C shares leading in their category [2][3] - Since inception, the funds have recorded a return of 76.22% as of July 11, attracting substantial market interest with net subscriptions of 53.8 million and 447.06 million shares for A and C respectively [4] Financial Metrics - Despite strong net value performance, the funds experienced a mismatch between realized gains and profits, with A and C recording realized losses of -720,800 and -4,233,400 yuan respectively, while profits were 19,551,100 and 171,682,200 yuan [5] - The realized gains reflect actual trading outcomes, while profits include both realized gains and fair value changes, indicating a significant unrealized gain component [5] Portfolio Management - The fund manager, Ren Jie, noted a high turnover in the portfolio, which may lead to increased trading costs and potential losses [6] - The strategy of frequent adjustments in holdings may lack stability, with analysts suggesting that such funds are better suited for satellite positions rather than core investments [6] Top Holdings - The top ten holdings for Yongying Technology Smart Selection in Q2 include: 1. Xinyi Sheng (300502) - 925,708 shares, fair value 117,583,430.16 yuan 2. Zhongji Xuchuang (300308) - 793,000 shares, fair value 115,666,980.00 yuan 3. Tianfu Communication (300394) - 1,377,480 shares, fair value 109,978,003.20 yuan 4. Shenghong Technology (300476) - 798,100 shares, fair value 107,248,678.00 yuan 5. Yuanjie Technology (688498) - 540,250 shares, fair value 105,348,750.00 yuan 6. Changxin Bochuang (300548) - 1,425,400 shares, fair value 95,173,958.00 yuan 7. Hudian Co. (002463) - 2,159,000 shares, fair value 91,930,220.00 yuan 8. Industrial Fulian (601138) - 3,725,000 shares, fair value 79,640,500.00 yuan 9. Taicheng Light (300570) - 823,300 shares, fair value 79,349,654.00 yuan 10. Shennan Circuit (002916) - 532,190 shares, fair value 57,375,403.90 yuan [7]