社会服务行业2025Q1基金持仓分析报告：重仓比例回升，基金低位布局

Investment Rating - The industry is rated as "Outperforming the Market" with an expected relative increase of over 10% compared to the market index in the next six months [44]. Core Insights - The fund's heavy position in the social service industry has increased to 0.12% in Q1 2025, reflecting a rise of 0.012 percentage points from the previous quarter, indicating significant rebound potential as it remains below the historical average of 0.50% [2][3][41]. - The report highlights that various sectors within social services are poised for growth, particularly tourism, duty-free, hotels, restaurants, and education, driven by policy support and consumption recovery [2][41]. Summary by Sections Heavy Position Recovery - In Q1 2025, 403 funds held positions in the social service sector, an increase of 75 funds, with a total market value of 8.01 billion yuan, up by 0.946 billion yuan from the previous quarter [3][14]. - The current heavy position percentage ranks 28th among 31 first-level industries, indicating a low allocation compared to historical levels [3][14]. Sector Analysis - The hotel and restaurant sector's heavy position remains low at 0.03%, while the tourism and scenic areas have also stabilized at 0.03% [21][23]. - Professional services and education sectors have seen slight increases in heavy positions, with professional services at 0.05% and education at 0.01% [21][23]. Individual Stock Performance - The top ten stocks in the social service sector have a combined heavy position of 0.105%, an increase of 0.01 percentage points from Q4 2024 [5][31]. - Notable increases in heavy positions were observed in stocks like Su Shi Testing and Xiangyuan Cultural Tourism, primarily in the professional services sector [33][36]. Investment Recommendations - The report suggests focusing on leading companies in tourism, duty-free, hotels, restaurants, and education, which are expected to benefit from favorable policies and market conditions [41].