According to the latest research report by CSC Securities, active equity funds maintained a stock position of 83.4% in the fourth quarter of 2024, marking a modest decline of 0.2 percentage points from the preceding quarter. Amidst improving market liquidity and sentiment, these funds strategically increased their allocation towards growth styles, with a particular emphasis on the tech-innovation sector. Specifically, allocations to growth styles and the tech-innovation sector rose by 3.0 and 2.5 percentage points, respectively. In terms of industry distribution, notable increases in holdings were observed in the electronics, banking, power equipment, and automotive sectors. However, certain industries, including power equipment, household appliances, electronics, and communication, experienced relative congestion. It is worth highlighting that the communication sector witnessed a noticeable easing of configuration congestion during the fourth quarter.