| 标的 | 发行人全称 | 增持/建仓额 |
|---|---|---|
| ▸ 大幅增持 (Top 10) | ||
| META PLATFOR | META PLATFORMS INC | +$476M+1089.3% |
| APPLIED MATL | APPLIED MATLS INC | +$464M+378.7% |
| ANALOG DEVIC | ANALOG DEVICES INC | +$315M+691.3% |
| RTX CORPORAT | RTX CORPORATION | +$289M+272.2% |
| T-MOBILE US | T-MOBILE US INC | +$287M+1821.6% |
| MONDELEZ INT | MONDELEZ INTL INC | +$282M+12456.6% |
| AMER SPORTS | AMER SPORTS INC | +$258M+377.5% |
| YUM BRANDS I | YUM BRANDS INC | +$231M+1737.1% |
| PROCTER & GA | PROCTER & GAMBLE CO | +$219M+258.5% |
| BP PLC | BP PLC | +$199M+373.9% |
| ▸ 新建仓位 (Top 5) | ||
| ASTRAZENECA NEW | ASTRAZENECA PLC | 首次建仓市值 $243M |
| CHEVRON CORPNEW | CHEVRON CORPORATION | 首次建仓市值 $217M |
| PPL CORPNEW | PPL CORP | 首次建仓市值 $216M |
| OREILLY AUTONEW | OREILLY AUTOMOTIVE INC | 首次建仓市值 $198M |
| PINNACLE FINNEW | PINNACLE FINL PARTNERS INC | 首次建仓市值 $159M |
| 标的 | 发行人全称 | 减持/清仓额 |
|---|---|---|
| ▸ 大幅减持 (Top 10) | ||
| MICROSOFT CO | MICROSOFT CORP | $-877M-87.1% |
| TAIWAN SEMIC | TAIWAN SEMICONDUCTOR MFG LTD | $-790M-55.7% |
| NVIDIA CORPO | NVIDIA CORPORATION | $-540M-29.0% |
| COHERENT COR | COHERENT CORP | $-478M-77.6% |
| SEA LTD | SEA LTD | $-470M-75.2% |
| BIOGEN INC | BIOGEN INC | $-347M-70.0% |
| AT&T INC | AT&T INC | $-305M-94.3% |
| AUTODESK INC | AUTODESK INC | $-290M-93.0% |
| BROADCOM INC | BROADCOM INC | $-287M-29.1% |
| TRANSDIGM GR | TRANSDIGM GROUP INC | $-287M-85.4% |
| ▸ 已清仓 (Top 5) | ||
| DANAHER CORPEXIT | DANAHER CORPORATION | -100.0% |
| PEPSICO INCEXIT | PEPSICO INC | -100.0% |
| ATLASSIAN COEXIT | ATLASSIAN CORPORATION | -100.0% |
| CISCO SYS INEXIT | CISCO SYS INC | -100.0% |
| TE CONNECTIVEXIT | TE CONNECTIVITY PLC | -100.0% |
本季度增仓积极，共10个仓位显著增持（合计+$3.0B），5个全新建仓（合计$1.0B）。增量资金集中涌入Technology板块（3/15笔），代表标的：META PLATFORMS INC、APPLIED MATLS INC、ANALOG DEVICES INC。
防御性减仓显著：10个仓位减持（-$6.2B），5个完全清仓（-$1.6B），防御姿态明确。减仓高度集中于Technology板块（8/15笔），代表标的：MICROSOFT CORP、TAIWAN SEMICONDUCTOR、NVIDIA CORPORATION。
板块轮动特征显著：Consumer +4.5%，Industrials +4.7%；Technology -3.6%，Healthcare-5.8%。结构分化清晰。
TMT小幅降权(-4pp)，工业微增(+5pp)，被动再平衡为主