百亿私募最新操作曝光，科技、医药受青睐，金融获重仓

Core Viewpoint - The article highlights the operational paths and strategic thoughts of major private equity firms, indicating a shift towards structural adjustments in investment strategies rather than significant withdrawals from the market [1]. Group 1: Market Positioning and Fund Performance - As of the end of October, the average position of subjective long-biased private equity funds was 78%, maintaining a high level compared to previous years [2]. - Despite a stagnant index in October, the proportion of fully invested and leveraged private equity increased to 25.3%, with over 90% of private equity maintaining positions above 50% [2]. - Most private equity products achieved positive returns, with significant performance differentiation among them [3]. - Some products from DWSQ and Qincheng Asset reported annual returns exceeding 70% and 30%, respectively, showcasing strong performance [3][4]. Group 2: Investment Strategies and Adjustments - Private equity firms exhibited a common tactical approach of "rebalancing," reducing holdings in assets with excessive short-term gains while increasing positions in assets with greater future potential [7]. - DWSQ and other firms indicated a strategy of locking in profits after significant price increases in certain holdings [7]. - The focus on technology and healthcare sectors was emphasized, with firms like DWSQ increasing their investments in leading companies within these industries [8]. Group 3: Sector Focus and Future Outlook - There is a consensus among private equity firms regarding the attractiveness of the technology and healthcare sectors, with many firms increasing their allocations in these areas [11][16]. - The article notes a divergence in views on the financial sector, with some firms maintaining high allocations while others express caution regarding valuations [12][15]. - The outlook for the market is cautiously optimistic, with a belief in a "structural slow bull" market driven by in-depth analysis of industry trends and company fundamentals [10].