Shang Hai Zheng Quan Bao·2025-10-28 20:06Core Insights - The A-share market experienced a strong rebound in Q3, with major indices showing significant gains, indicating a recovery in market confidence and accelerated capital inflow [1][2][3] Fund Holdings Overview - As of the end of Q3, the top ten holdings of public funds include Ningde Times, Tencent Holdings, NewEase, and Zhongji Xuchuang, with Ningde Times reclaiming the top position [2][5] - The average equity positions of stock and mixed funds increased to 90.14% and 82.15%, respectively, compared to the previous quarter [3][4] Sector Performance - The top 50 holdings of public funds are primarily concentrated in the information technology, consumer goods and services, and pharmaceutical sectors, with 19 stocks in the information technology sector [5][6] - AI-related stocks have emerged as new favorites among public funds, with NewEase and Zhongji Xuchuang making significant gains [5][7] Fund Manager Insights - Fund managers expressed optimism about the A-share market, citing supportive policy environments and potential earnings improvements across various sectors [4][9] - There is a notable focus on the AI sector, with several funds maintaining high allocations to AI-related stocks and increasing positions in lithium battery and non-ferrous metals sectors [7][8] Future Outlook - Fund managers are generally optimistic about the growth potential in the technology sector, particularly in AI, energy storage, and new energy vehicles, viewing the current market as a pivotal point for the next industrial revolution [9]