公募基金调仓路线图浮现，中际旭创成头号重仓股

Group 1 - The core point of the article is that Zhongji Xuchuang has replaced CATL as the largest holding in actively managed equity funds as of Q4 2025, indicating a shift in market focus and investment strategies [1][3] - The top ten holdings of actively managed equity funds have changed significantly compared to Q3 2025, with Zhongji Xuchuang, Xinyi Semiconductor, and Zijin Mining moving up in rankings, while CATL and Tencent have dropped [3][4] - The total market value of the top ten holdings in actively managed equity funds is reported, with Zhongji Xuchuang at 76.8 billion, Xinyi Semiconductor at 63.8 billion, and CATL at 63 billion [3] Group 2 - Actively managed equity funds have increased their allocation in sectors such as non-ferrous metals, chemicals, and non-bank financials, while reducing exposure to electronics, pharmaceuticals, and media [9][10] - The overall stock position of actively managed equity funds has decreased to 84.4%, reflecting a cautious approach amid changing market conditions [8] - The analysis indicates that the shift in sector allocation is driven by a combination of cyclical recovery, technological optimization, and improved market activity in non-bank financials [9][10]