金吾财讯|中信证券研究指，2026Q2在基本面预期回落和科技板块分流的共同影响下，食品饮料板块基金持仓占比加速下降，其中酒类下降幅度显著高于大众品。分子板块来看，2026Q2食品饮料各子板块持仓占比全面下降，仅非乳饮料降幅稍小，其余主要子板块都面临较大降幅。从个股看，白酒龙头虽仍是持仓主力但环比下滑明显，乳制品和餐供龙头仓位较为稳健。风险因素：消费景气度下行；餐饮恢复不及预期；提价成效不及预期；行业竞争加剧；新兴渠道冲击超预期；原材料价格持续上行；食品安全问题。
金吾财讯|中信证券研究指，2026Q2在基本面预期回落和科技板块分流的共同影响下，食品饮料板块基金持仓占比加速下降，其中酒类下降幅度显著高于大众品。分子板块来看，2026Q2食品饮料各子板块持仓占比全面下降，仅非乳饮料降幅稍小，其余主要子板块都面临较大降幅。从个股看，白酒龙头虽仍是持仓主力但环比下滑明显，乳制品和餐供龙头仓位较为稳健。风险因素：消费景气度下行；餐饮恢复不及预期；提价成效不及预期；行业竞争加剧；新兴渠道冲击超预期；原材料价格持续上行；食品安全问题。
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