金融工程专题研究：百亿私募2025年二季度持仓变化透视分析

The provided content does not include any quantitative models or factors, nor does it discuss their construction, evaluation, or backtesting results. The report primarily focuses on analyzing private equity fund holdings, their changes, and sectoral distribution based on disclosed shareholder data. It does not delve into quantitative investment strategies, factor construction, or model performance metrics.