电子行业跟踪报告：AI端侧及半导体自主可控较受关注，基金配置集中度提升

Investment Rating - The industry investment rating is "Outperform the Market" [41] Core Insights - The SW Electronics industry saw a slight decline in fund overweight ratios in Q3 2024, but it remains at the highest level for Q3 in recent years, with an allocation ratio of 7.91%, a decrease of 0.15 percentage points quarter-on-quarter, and an increase of 0.63 percentage points year-on-year [2][14] - The top ten heavily weighted stocks in the SW Electronics sector showed stable composition and positive performance in Q3, with all stocks experiencing an increase [3][19] - The AI sector and semiconductor self-sufficiency have gained significant attention from funds, with notable increases in holdings for companies like Haiguang Information and Cambrian [4][23] Summary by Sections 1. Fund Overweight Ratios - The SW Electronics industry had a fund overweight ratio of 6.07% in Q3 2024, which is the highest level in recent years, reflecting a year-on-year increase of 1.56 percentage points [14][16] 2. Top Ten Heavily Weighted Stocks - The top ten heavily weighted stocks in Q3 2024 included Luxshare Precision, SMIC, Haiguang Information, and others, with all stocks showing positive performance [3][19] 3. AI Industry Chain and Semiconductor Self-Sufficiency - The top ten stocks with increased holdings were primarily from the semiconductor and consumer electronics sectors, indicating a strong focus on AI and semiconductor self-sufficiency [4][23] 4. Semiconductor Subsector Allocation - The semiconductor subsector remains in an overweight position with a ratio of 5.36%, showing a quarter-on-quarter increase of 0.09 percentage points [5][31] 5. Fund Concentration in Heavyweight Stocks - The concentration of fund holdings in the top 5, 10, and 20 stocks has increased, with respective market value proportions of 40.24%, 60.76%, and 76.72% [5][35] 6. Investment Recommendations - The report suggests focusing on investment opportunities in semiconductor self-sufficiency and the accelerating replacement cycle in consumer electronics due to new product launches [5][37]