31家百亿私募377亿重仓股曝光，超半数资金涌入科技赛道

Core Viewpoint - The article highlights the significant shift in investment strategies among 31 major private equity firms, with a strong focus on technology sectors, as they adjusted their portfolios in the third quarter of 2025, investing over half of their funds in technology-related stocks [1][2]. Group 1: Investment Trends - In the third quarter, 31 private equity firms entered 34 new companies, increased holdings in 12 companies, maintained positions in 46 companies, and reduced stakes in 25 companies [2][5]. - The total market value of the holdings in the top ten circulating stocks of 117 A-share listed companies reached 376.80 billion yuan [2][4]. - The computer industry led the holdings with a market value of 106.72 billion yuan, followed by non-ferrous metals at 64.65 billion yuan and telecommunications at 51.05 billion yuan [3][4]. Group 2: Sector Analysis - The technology sector, including computer, telecommunications, and electronics, accounted for over half of the total holdings, with a combined market value of 193 billion yuan [4][5]. - Other significant sectors included basic chemicals, coal, and building materials, each exceeding 10 billion yuan in market value [5]. - The focus on technology aligns with the broader economic policies and the increasing demand for digital transformation and self-sufficiency in technology [10]. Group 3: Notable Fund Movements - Gao Yi Asset's holdings reached 183.83 billion yuan, nearly half of the total private equity holdings, with significant movements including a reduction in shares of Hikvision and an increase in shares of Rui Feng New Materials [7][9]. - Other prominent private equity firms, such as Rui Jun Asset and Ling Ren Private Equity, also made notable adjustments, indicating a trend towards embracing technology growth while distancing from traditional cyclical industries [9][10].