拥抱港股，腾讯首次成为公募第一大重仓股

Core Viewpoint - The article discusses the significant changes in the holdings of actively managed public funds in the first quarter, highlighting Tencent as the top stock, while traditional favorites like Kweichow Moutai have seen a decline in popularity [2][3][4]. Group 1: Fund Performance and Holdings - Actively managed equity funds outperformed the CSI 300 index by over 5 percentage points in the first quarter, achieving notable excess returns [2]. - Tencent Holdings became the largest holding among public funds, with a total market value of over 69.8 billion yuan held by nearly 1,200 active funds [6][7]. - In contrast, CATL fell to second place with a holding value just over 55.5 billion yuan, while Kweichow Moutai dropped to third with a holding value of 38.1 billion yuan [8][9]. Group 2: Stock Performance - Tencent's stock price increased by nearly 20% during the quarter, while Kweichow Moutai only saw a 2% increase, and CATL experienced a decline of over 4% [10]. - The article notes a shift in investor sentiment, marking the end of an era for Kweichow Moutai and the rise of Tencent [5][4]. Group 3: Fund Manager Actions - The top funds holding Tencent include the E Fund China Concept Internet ETF, which held 24.16 million shares, and the Hong Kong Stock Connect Internet ETF, which held 13.04 million shares [12]. - Significant increases in holdings were noted for funds like the Hong Kong Stock Connect Internet ETF, which added 4.07 million shares, and the Hong Kong Stock Connect Technology 30 ETF, which added 2.32 million shares [12]. Group 4: Emerging Stocks - Other notable stocks that saw increased interest include Alibaba, SMIC, and Xiaomi, with significant increases in holdings indicating a strong focus on technology [16][18]. - The article highlights the rise of Shanxi Fenjiu in the liquor sector, which has gained attention from institutional investors, surpassing Luzhou Laojiao in total market value held by active funds [25]. Group 5: New Entrants - New stocks such as Maogeping and Yuejiang have entered the active fund holdings list, reflecting their recent market debut and the growing interest in consumer and robotics sectors [26][28]. - Maogeping focuses on cosmetics and skincare, while Yuejiang specializes in collaborative robots, indicating a diversification in investment interests [28][29].