食品饮料行业2024Q3基金持仓：公募继续减配，筹码持续出清

Investment Rating - The investment rating for the food and beverage industry is "Outperform the Market" [3][4]. Core Insights - The heavy holding ratio of public funds in the food and beverage industry is 8.97%, a decrease of 0.47 percentage points (pct) from the previous quarter, marking the lowest level since Q3 2017. The overweight ratio is 2.68%, also down by 0.67pct [2][6]. - The top five holdings in the food and beverage sector are Kweichow Moutai (1.49%), Wuliangye (0.87%), Luzhou Laojiao (0.50%), Shanxi Fenjiu (0.49%), and Gujing Gongjiu (0.32%) [10][12]. - The report indicates a continued reduction in public fund allocations, with a notable decrease in the wine sector, which has seen its holding ratio drop to the lowest level since 2018 [12][14]. Summary by Sections 1. Fund Holdings - The public fund holding ratio in the food and beverage industry is 8.97%, with an overweight ratio of 2.68%, both showing a decline from the previous quarter [6][7]. - The number of funds holding major wine companies totals 932, with a combined holding value of 1240.63 billion [12][13]. 2. Investment Recommendations - For the wine sector, focus on valuation and the quality of financial reports. Recommended stocks include Kweichow Moutai, Wuliangye, and Gujing Gongjiu, among others [3][4]. - In the food sector, attention should be given to leading consumer goods companies that are expected to benefit from demand recovery [3][4]. 3. Sector Performance - The wine sector has seen a significant reduction in fund allocations, with the holding ratio decreasing by 0.54pct to 7.94% [16][19]. - Other sub-sectors such as frozen foods and snacks have experienced increased allocations, indicating a shift in investor sentiment [16][23].