银行股配置重构系列七:银行股2025Q2公募持仓有哪些变化?

长江证券
25 Jul

主动公募对银行股的配置比例呈现出清晰的震荡上升趋势二季度以来我们重点关注银行股的机构增配逻辑。从公募基金持仓数据来看,二季度末主动型公募基金(普通股票型+混合偏股型+平衡混合型+灵活配置型)对银行股的合计重仓配置比例为4.9%,环比上升1.1pct。我们总结配置比例的变化规律:1)目前配置比例已经达到2021Q2 以来新高,而当时宏观经济处于上一轮周期顶峰。2022 年以来经济预期并未反转,配置...

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