Publicly offered funds increased their position in the technology manufacturing sector in the first quarter, while reducing their holdings in the information technology and financial sectors.

The first quarter report of public offering funds in 2026 has been disclosed, and the industry holdings of the funds have also come to light, with the manufacturing industry emerging as the biggest winner. Data from Tianxiang Investment Consulting shows that as of the first quarter of 2026, the overall position and concentration of public offering funds have slightly decreased compared to the previous period. There is a clear differentiation in industry holdings, with a significant increase in fund holdings in the manufacturing sector while reducing holdings in the internet, software, information technology, and financial sectors. While funds are flocking to the manufacturing industry, some fund managers are optimistic about opportunities in artificial intelligence and new energy industries, but also caution about the market volatility that could come from clustering in the technology manufacturing sector. According to comparable data from Tianxiang Investment Consulting, the average stock position of public offering funds in the first quarter of 2026 reached 80.27%, with a concentration of holdings at 56.67%, both indicators showing a slight decrease from the fourth quarter of 2025. Comparatively, the average position of public offering funds at the end of the fourth quarter of last year was 81.95%, with a concentration of holdings at 57.10%, indicating a slight convergence in overall holdings and a more diversified layout. Looking at the distribution of industry holdings, the manufacturing industry remains the largest holding sector for funds and is the core focus of institutional allocation. As of the end of the first quarter of 2026, the public offering funds' holdings in the manufacturing industry accounted for a high percentage of the overall position at 53.68%, showing a continuous trend of heavy investment in manufacturing. The mining industry is the second largest industry for fund allocation, with a position ratio of 3.73% at the end of the first quarter, a slight increase from the end of the fourth quarter of last year, indicating a slight increase in institutional holdings.