詳解基金2022銀行持倉：主動基金連續(xù)兩季度增持銀行股至3.01%優(yōu)質(zhì)銀行獲資金青睞

請務(wù)必閱讀正文之后的重要聲明部分評級：增持(維持)分析師戴志鋒評級：增持(維持)分析師戴志鋒qcomcn分析師鄧美君comcn分析師賈靖qcomcn基本狀況總市值(百萬元)流動市值(百萬)329,762行業(yè)-市場走勢對比10.00%0.00%10.00%-20.00%-30.00%銀行(申萬)滬深300相關(guān)報(bào)告行股價(jià)(元)21022E023E24E21022E023E24E41.054.6956行31639851854.014.72224.50投資要點(diǎn)史均平均水平4.35%)。2、銀行三四季度的加倉計(jì)算機(jī)，分別增持1.98%、1.36%；其次對大金融、前期受疫情影響較大的休閑服30%、0.29%。3、銀行業(yè)維持低配狀態(tài)，低配差小幅收窄。Q4基金持倉銀行股低配差為6.29%，仍保持28個板塊中持倉比例與標(biāo)配差值最大的行業(yè)，寧動型基金(含封閉式)持倉排名前五的銀行股為寧波、招行、成都、杭州、平安，但單產(chǎn)回暖+消費(fèi)復(fù)蘇，看好招行、寧波、平安、仍是優(yōu)看，修風(fēng)險(xiǎn)提示事件：經(jīng)濟(jì)下滑超預(yù)期。疫情影響超預(yù)期。-2-請務(wù)必閱讀正文之后的重要聲明部分.0%%.0%%行業(yè)季度報(bào)告一、基金配臵銀行股情況：4季度繼續(xù)小幅加倉銀行股，持倉占比繼續(xù)提升至持倉占比仍是低于歷史均值(2017年來中位數(shù)水平4.21%、平均水平1.98%、1.36%；其次對大金融、前期受疫情影響較大的休閑服務(wù)和地02%行業(yè)季度報(bào)告QQ20Q21Q22QQ224.91%44%87%75%%55%78%%32%96%%87%64%%31%22%%金融45%62%%%20%85%%%75%%80%%休閑服務(wù)86%%%83%08%54%24%%21%%%78%%46%%25%22%%20%48%%造%28%%20%%39%38%%%%20%%公用事業(yè)33%07%36%%24%%%59%%.52%9%2.26%%0.16%0.17%%20%81%51%08%%%%%02%02%08%%40%35%63%%%%%%械設(shè)備%%%25%02%%46%04%%%%%04%08%%06%20%06%%%01%01%01%06%%%%%04%07%05%01%09%%01%%01%02%媒34%22%31%36%28%25%28%%06%04%04%%48%%%50%%食品飲料65%01%78%35%07%07%%%鐵%04%02%%%%22%07%21%牧漁34%27%%32%%%%61%%22%09%06%06%%68%81%45%%%33%工79%%%%80%%34%%88%34%30%%%%39%27%60%%48%%%%64%%42%房地產(chǎn)97%71%58%76%85%%%%60%%44%07%37%%29%%30%34%05%01%94%45%37%44%%83%4.56%%%%09%56%52%金屬62%%%36%%67%%%23%62%掘%05%%%%%45%%%%70%-3-請務(wù)必閱讀正文之后的重要聲明部分-4-請務(wù)必閱讀正文之后的重要聲明部分Q8QQQQ行業(yè)季度報(bào)告%%%%%行業(yè)季度報(bào)告Q4Q20Q21Q2Q4Q22金融27%41%85%43%81%38%49%85%掘04%65%56%45%42%50%76%61%91%83%20%46%公用事業(yè)61%62%67%85%92%77%06%85%63%84%68%55%63%40%46%42%50%57%59%57%70%52%86%85%28%88%68%72%53%05%95%工29%33%27%%05%%%%79%%%54%84%95%86%79%83%87%84%93%70%媒41%%%%20%24%35%51%62%80%67%鐵94%88%83%75%80%74%52%28%55%25%32%56%械設(shè)備36%34%61%58%67%82%98%53%53%%50%60%74%80%66%53%37%01%07%%31%54%44%49%38%33%30%25%21%28%28%08%43%89%24%36%00%89%06%33%%24%造45%27%%24%45%52%40%31%56%21%24%38%35%27%35%%房地產(chǎn)%60%70%93%05%47%75%43%37%%%06%41%04%23%%%07%41%牧漁%34%37%48%32%37%02%%%%91%92%%%%%%金屬89%83%61%23%05%%%%%休閑服務(wù)05%%%%%%%%%41%70%32%35%46%37%25%%4.98%%4.35%%5%%%%72%%%%1%1%2%%%4.78%食品飲料4%%%%2%4.88%4.60%2%0%3%%4.83%%0%3%%%%1%-5-請務(wù)必閱讀正文之后的重要聲明部分-6-請務(wù)必閱讀正文之后的重要聲明部分%18%%%168%..21%2.0.%18%%%168%..21%2.0.00..00.001..行業(yè)季度報(bào)告Q式)寧波銀行-0.3-0.8%08%00.26%0.070.-0.0 4%0.27% %%%招商銀行-0.87%08%0.0.1%0.0-020%-00.2%50%-013%0.7%平安銀行-0-01%0.0.0..26%.26%040..0--03%-0-0.-0.-00.郵儲銀行-0-00.0.--0-0.0.4%-0.0.00%0.興業(yè)銀行0-0.49%-0.23%0.0.0.03%03%23%3-4%-016%-0.12%0.4%-018%-0.05%0.%蘇州銀行0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%工商銀行-0.03%-0.05%0.21%0.03%0.09%0.06%-0.01%上海銀行0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.00%0.00%-0.01%江蘇銀行0.00%0.00%0.00%0.00%0.01%0.03%0.01%-0.02%0.04%0.01%-0.01%蘇農(nóng)銀行0.00%0.00%0.00%0.00%0.00%0.00%0.03%0.00%0.01%-0.01%0.00%-0.01%成都銀行0.01%0.01%0.00%-0.01%0.00%0.02%0.03%0.02%0.01%0.05%-0.02%常熟銀行-0.05%-0.04%-0.03%-0.01%0.01%-0.04%0.02%0.02%0.04%-0.01%0.04%-0.02%建設(shè)銀行-0.02%-0.06%0.04%-0.04%-0.08%-0.05%0.01%0.08%-0.08%0.03%-0.03%南京銀行-0.01%-0.01%0.00%0.02%0.01%0.02%-0.01%-0.01%0.06%-0.02%0.04%-0.03%農(nóng)業(yè)銀行-0.03%-0.04%0.00%-0.04%0.06%-0.02%-0.03%0.02%0.06%-0.07%0.05%-0.04%未顯示上市銀行環(huán)比變動情況為0.行業(yè)季度報(bào)告4季度變動(萬股)3季末總股本較3季末持股變動基金持股變動占比總股本寧波銀行蘇州銀行184.9%平安銀行 杭州銀行江陰銀行.2%長沙銀行郵儲銀行興業(yè)銀行北京銀行銀行貴陽銀行浙商銀行廈門銀行88浦發(fā)銀行 中國銀行-22.4%交通銀行 -13.9%-0.01%華夏銀行-91.4%工商銀行-7.5%-0.01%光大銀行招商銀行無錫銀行建設(shè)銀行-53.0%-0.04%滬農(nóng)商行-65.6%-0.05%渝農(nóng)商行-100.0%-0.08%農(nóng)業(yè)銀行 -68.3%-0.09%江蘇銀行成都銀行上海銀行-97.0%南京銀行-22.5%-0.57%張家港行-94.0%常熟銀行-16.1%-1.82%蘇農(nóng)銀行-7-請務(wù)必閱讀正文之后的重要聲明部分-8-請務(wù)必閱讀正文之后的重要聲明部分行業(yè)季度報(bào)告3Q210212Q223Q22022-0.51%0.25%0.51%郵儲銀行-0.48%-2.36%-0.02%0.86%0.08%0.38%-0.30%-0.04%0.86%-0.38%-0.21%0.72%平安銀行-0.29%-0.69%-0.48%-0.89%-0.24%-0.38%0.41%杭州銀行0.69%-0.66%0.70%-0.29%0.39%沙銀行0.55%-0.66%0.00%0.00%0.00%0.00%0.06%0.33%行0.02%0.02%-0.04%0.00%0.04%-0.02%-0.01%興業(yè)銀行-0.73%-0.76%-0.77%0.45%-0.91%-0.30%0.09%銀行0.00%0.03%-0.04%0.00%0.04%-0.01%-0.01%0.04%0.01%-0.01%0.00%0.00%0.08%-0.08%0.00%0.02%貴陽銀行-0.02%0.00%0.00%0.00%0.00%0.00%0.00%0.01%浙商銀行-0.02%0.00%-0.03%0.00%0.00%0.00%0.00%0.00%瑞豐銀行0.00%0.01%2.51%-2.51%0.00%0.01%-0.01%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%鄭州銀行0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.40%0.02%0.02%0.09%-0.20%-0.33%0.00%青島銀行0.45%3.05%-2.82%0.00%0.00%發(fā)銀行0.07%-0.07%0.02%-0.02%0.00%0.00%0.00%0.00%0.04%-0.03%0.02%-0.01%0.01%-0.01%夏銀行0.00%-0.01%0.00%0.03%0.00%-0.03%0.01%-0.01%交通銀行0.21%0.02%-0.02%0.45%-0.43%0.04%-0.01%工商銀行0.29%0.06%-0.02%光大銀行-0.23%-0.44%0.00%0.05%0.00%-0.01%-0.02%招商銀行0.00%-0.28%-0.25%-0.79%-0.23%-0.04%無錫銀行0.00%0.04%0.21%-0.25%0.39%-0.46%-0.04%農(nóng)業(yè)銀行-0.02%-0.08%0.05%渝農(nóng)商行0.02%0.04%0.07%0.00%0.05%-0.05%0.04%行0.70%0.36%-0.50%0.59%0.26%成都銀行-0.45%3.04%0.38%0.63%-0.20%上海銀行0.04%0.00%-0.03%0.04%0.07%-0.04%-0.21%0.83%0.03%0.84%-0.24%0.60%-0.68%-0.04%-0.08%0.74%0.30%-0.59%0.64%-0.90%建設(shè)銀行3.40%0.31%2.84%-2.99%0.81%3.45%2.40%2.75%行0.00%0.55%8.76%0.80%占比流通市值=各銀行股持倉市值/各銀行流動市值和確定性增長邏輯。第一條選股主線是修復(fù)邏輯：地產(chǎn)回暖+消費(fèi)復(fù)蘇，定性增長邏輯下半年占優(yōu)。-9-請務(wù)必閱讀正文之后的重要聲明部分行業(yè)季度報(bào)告工商銀行建設(shè)銀行農(nóng)業(yè)銀行中國銀行交通銀行郵儲銀行招商銀行中信銀行浦發(fā)銀行興業(yè)銀行光大銀行平安銀行浙商銀行北京銀行南京銀行寧波銀行江蘇銀行貴陽銀行杭州銀行上海銀行成都銀行長沙銀行青島銀行西安銀行蘇州銀行江陰銀行無錫銀行常熟銀行蘇農(nóng)銀行張家港行紫金銀行青農(nóng)商行渝農(nóng)商行上市銀行平均國有銀行股份銀行城商行農(nóng)商行-10-