Core Insights - The report highlights the performance of actively managed equity funds in the second quarter of 2025, showing a significant increase in stock positions and overall fund sizes, indicating a bullish sentiment in the equity market [1][2][5]. Fund Performance - As of July 15, 2025, 30 actively managed equity funds reported a total size of 3.89 billion yuan, up 59.57% from 2.44 billion yuan in the previous quarter [2]. - Among these funds, 28 out of 30 had stock positions exceeding 85% by the end of the second quarter, with the average stock position rising from 86.46% at the end of the first quarter to 90.1% [1]. Notable Fund Strategies - The fund "Tongtai Industrial Upgrade" saw its equity ratio surge from 34.22% at the end of Q1 to 92.35% by the end of Q2, reflecting a strategic shift back to the robotics sector after a brief period of holding only bank stocks [3]. - "Changcheng Medical Industry Select" fund achieved a nearly 90% return year-to-date, with a 35.86% increase in Q2, significantly outperforming its benchmark [5]. Sector Focus - The report identifies key sectors that fund managers are optimistic about, including innovative pharmaceuticals, humanoid robots, cloud computing, and deep-sea technology [1][10]. - Fund managers are particularly focused on the potential of innovative drugs, with many indicating that this sector will continue to offer significant investment opportunities in the second half of the year [8]. Emerging Trends - The report notes a structural shift in the market, with technology and new consumption sectors gaining prominence, leading to a more dynamic investment environment [7]. - Fund managers are increasingly looking at niche markets and emerging applications, such as AI and financial technology, to capitalize on growth opportunities [9][11].