2 1 Shi Ji Jing Ji Bao Dao·2025-10-30 12:33Core Insights - The article highlights a significant shift in the holdings of actively managed equity funds in Q3 2025, with a notable increase in technology sector allocations and a reduction in consumer and banking stocks [1][2][4] Summary by Sections Changes in Top Holdings - The top ten holdings of actively managed equity funds saw new entries, including two optical module stocks (Xinyi Technology and Zhongji Xuchuang) and one AI server stock (Industrial Fulian) [2] - The list retained seven stocks, with Ningde Times rising from second to first place, while Guizhou Moutai fell from third to tenth [2] Performance of Key Stocks - Ningde Times experienced a substantial stock price increase of 60% in Q3, leading to a significant rise in its market value held by funds, despite a reduction in the number of shares held [3] - Guizhou Moutai's stock price only increased by 2.45%, resulting in a decrease in its market value held by funds and a drop in ranking [4] Fund Allocation Trends - Actively managed equity funds significantly increased their positions in technology stocks, particularly in the AI sector, with Industrial Fulian seeing the largest increase in holdings [5][6] - The top ten stocks with the highest increase in holdings were all from the technology sector, indicating a clear trend towards AI hardware and computing power [6] Decline in Consumer and Banking Stocks - The article notes a substantial decline in the market value of consumer and banking stocks held by actively managed equity funds, with Xiaomi Group and Midea Group experiencing the largest decreases [7][8] - Xiaomi Group's market value dropped by approximately 51%, while Midea Group's fell by about 31%, both due to stock price declines and reduced fund holdings [8] - Banking stocks like China Merchants Bank and Jiangsu Bank also faced significant reductions in holdings, with market values decreasing by 50% and 71%, respectively [9]