智通财经网·2026-01-26 03:53Group 1 - The food and beverage sector's heavy stockholding ratio decreased to 6.1% in Q4 2025, down 0.3 percentage points from Q2 2025, with an excess allocation of +2.4 percentage points compared to Wind All A [1] - The proportion of active equity funds holding food and beverage stocks fell to 32.3% in Q4 2025, while passive funds increased to 63.3% [1] - The liquor sector has experienced a four-year adjustment period and is expected to see a "valuation + performance" double bottom [1] Group 2 - In the liquor segment, the fund holding ratio slightly decreased, with a total and active equity holding ratio of 5.1% and 2.9% respectively, down 0.4 and 0.3 percentage points [2] - The excess allocation for liquor funds is at +2.7 percentage points for total and +0.5 percentage points for active equity [2] - The holding ratio for consumer goods increased slightly to 0.97% in Q4 2025, although it remains in a low allocation state [2] Group 3 - The holding ratio for individual liquor stocks generally declined, with Kweichow Moutai remaining the only food and beverage company in the top 20 heavy stocks, dropping from second to fourth place [3] - The holding ratio for Shanxi Fenjiu rose to second place among liquor stocks [3] - Some leading consumer goods companies, such as Yili and Anjiexin Foods, saw a noticeable increase in fund holding ratios and the number of funds holding them in Q4 2025 [3]