百亿私募大幅加仓，看好这些方向！

Core Viewpoint - The article highlights the optimistic sentiment among private equity firms regarding the stock market, with a notable increase in their positions and a focus on specific investment opportunities in the second half of the year [1][2][3]. Group 1: Private Equity Positioning - As of July 25, 2025, the stock private equity position index is at 75.85%, up 0.76% from the previous week, with large private equity firms showing the most significant increase [1]. - Nearly 60% of stock private equity firms are fully invested, with 57.23% having positions over 80%, while 62.24% of large private equity firms are also fully invested [1]. - The average return of subjective long positions among private equity firms is 14.86% year-to-date, significantly outperforming the market index return of 6.61% [1]. Group 2: Investment Focus Areas - Major private equity firms maintain a positive long-term outlook for the stock market, supported by ample liquidity and improving fundamentals [2]. - Key investment directions identified include the revaluation of quality Chinese assets, globalization of advantageous industries, and opportunities in self-sufficient technology sectors [2]. - The focus also includes potential gains from economic-sensitive assets that may benefit from marginal improvements or new policies [2]. Group 3: Research and Analysis - Private equity firms are intensifying their research on quality listed companies, with 651 A-share companies being investigated by institutions as of July 31, involving 11,554 participating institutions [3]. - The most researched sectors by institutional investors are electronics, pharmaceuticals, computers, and machinery, while private equity firms focus on computers, pharmaceuticals, electronics, and power equipment [3]. Group 4: Quantitative vs. Subjective Private Equity - The number of billion-dollar quantitative private equity firms has surpassed that of subjective private equity firms for the first time, with 41 quantitative firms compared to 40 subjective firms as of July 10 [4]. - This marks an increase of 8 quantitative firms and a decrease of 6 subjective firms since the end of last year [4].