The third-quarter reports from A-share listed companies have now been fully released, offering a transparent view of the stocks heavily favored by securities firms. Based on Choice data, 44 securities firms were listed among the top ten largest shareholders of tradable shares for 351 individual stocks, with the combined market value of their holdings surpassing 66 billion yuan. The adjustment trend indicates that high-end manufacturing and technology sectors have emerged as favored destinations for significant investments by securities firms, with corresponding individual stocks experiencing substantial increases in holdings. Amidst a rebound in the equity market and exceptional performance within the technology sector, securities firms' proprietary trading operations have emerged as a key contributor to performance growth. Industry experts have noted that securities firms generally ramped up their equity asset allocations in the third quarter, capitalizing on structural opportunities and fueling an uptick in proprietary trading business revenue.