2022Q2基金持仓分析：行情两端走，基金增持景气成长和消费
摘要·行情两端走，基金增持景气成长与消费二季度市场反弹，基金加仓行为更积极。4月份基金在下跌中减仓，5月仓位整体保持稳定，6月随着市场升温基金积极加仓。两端走行情下乐观者主导行情，成长与消费类基金是6月加仓主力，而低风险偏好的基建地产金融类基金则卖出减仓。
·大盘股配置比例稳定，消费风格明显提升大小风格维度，市值1200亿以上的大盘股超配比例稳定，100亿以下小盘股环比大幅提升，800-1200亿的股票降幅较大。重仓股配置集中度自底部小幅提升。另一方面，消费与周期风格持股比例明显提高，金融与稳定风格降幅较大。2022Q2消费、周期风格重仓持股比例环比提升0.28％，0.20％。成长风格配置比例亦有小幅提升。金融、稳定风格持股比例分别下降0.21％，0.12％。
·必选消费与新能源车产业链获大幅增配产业链配置视角下，二季度基金增配必选消费（+1.66％）与新能源车产业链（+0.76％）。集成电路、消费电子等科技制造产业链减配幅度较大。细分环节上，食品饮料/电池材料/证券/整车/交运等增配幅度居前。计算机软件服务/半导体/银行等减配幅度较大。
·基金加仓中游与可选消费板块，成长配置分化，食品饮料与电气设备行业增配幅度居前整体看，中游设备制造与可选消费配置比例提升幅度较大，行业层面食品饮料/电力设备/汽车/有色金属超配增幅居前。其中，中游板块配置比例提升主要受其中电气设备（+2.08％）拉动。可选消费亦有明显提升，汽车大幅提升1.30％。必选消费板块中食品饮料增3.01％，但医药与农林牧渔行业减配较明显。TMT板块整体减配，电子/传媒减幅居前。周期板块小幅增配，有色金属环比增0.63％。
·消费类基金增持食品饮料，新能源车与医药类基金产业链内调仓方向分化消费类基金大幅增持必选消费产业链，其中食品饮料/消费者服务环节加仓幅度大。新能源车与医药类基金对本产业链内细分环节的配置行为分化，新能源车类基金大幅增持电池材料/整车，但减配电池组件/汽车电子/动力电池，医药类基金增持中药，减配生物制药/医疗服务/医疗器械。基建地产金融类基金加仓新能源车/消费电子产业链，减配基建类产业链。科技制造类基金增持基建运营/新能源车产业链。
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本文源自金融界 不要太相信基金的分析，做好自己的决策
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