天天基金网·2025-10-29 09:40Core Viewpoint - The article discusses the significant changes in the holdings of public funds in the third quarter of 2025, highlighting the rise of technology stocks and the continued dominance of Ningde Times as the largest holding [4][5]. Group 1: Public Fund Holdings - As of the end of Q3 2025, the total stock holdings of public funds reached 8.99 trillion yuan, an increase of approximately 1.8 trillion yuan from 7.19 trillion yuan at the end of Q2 2025 [3]. - Ningde Times consistently ranks as the top holding in public funds throughout the first three quarters of 2025, with a holding value of 2,071 billion yuan in Q3 [2][4]. - New entrants to the top ten holdings include Zhongji Xuchuang, Xinyi Sheng, and Hanwujing, while companies like China Merchants Bank, Midea Group, and Xiaomi Group have exited the list [5]. Group 2: Technology Sector Insights - Fund managers express optimism about the AI sector, noting that it remains a key driver of global technological innovation, with strong domestic demand for computing power and improving supply chain conditions [5]. - The AI industry is experiencing explosive growth, with domestic internet companies increasing capital expenditures in AI, leading to stable revenue growth and a gradual increase in profit contributions from AI [5]. - There are concerns regarding the long-term outlook for the industry due to uncertainties in technology iterations and the competitive landscape, but there is also recognition of significant progress in technology and applications [6].