Yifangda Zhang Kun: The market will realize that the investment demand on domestic companies is also like "fishing where there are fish".

On January 22nd, Zhang Kun, the manager of E Fund High-Quality Selective Hybrid Fund, stated in the fourth quarter report of 2025 that the fund's stock position was mainly stable during the quarter, with adjustments made to the structure, including adjustments in the pharmaceutical, consumer, and technology sectors. In terms of individual stocks, we continue to hold high-quality companies with outstanding business models, clear industry layout, and strong competitiveness. As of the end of the fourth quarter of 2025, the fund's top ten heavy-weighted stocks are Tencent Holdings, Kweichow Moutai, Luzhou Laojiao, Shanxi Fenjiu, Wuliangye, Alibaba, Huazhu Group, Ctrip Group, Focus Media, and JD Health. By the end of the reporting period, the net asset value per share of the fund was 5.3091 yuan, with a growth rate of -8.42% for the reporting period and a benchmark return of -2.48% during the same period.