[Northbound funds adjust their positions in the third quarter, and the market value of positions in the banking and pharmaceutical sectors has increased significantly] On October 15th, the shareholding data of Shanghai and Shenzhen Stock Connect at the end of the third quarter of 2026 was released, and the trends of northbound funds in the third quarter also surfaced. Wind data shows that as of the end of the third quarter of 2026, northbound funds held a total of 3,531 stocks, with a total holding size of 2.577 trillion yuan, a drop of more than 550 billion yuan from the 3.127 trillion yuan at the end of the second quarter, but basically the same as the 2.572 trillion yuan at the end of the first quarter. Structurally, northbound funds increased their allocation to dividends and pharmaceutical sectors in the third quarter, while reducing their allocation to AI, overseas chains and other directions. Looking at different industries, the value of northbound funds' holdings in the banking sector increased significantly by 67.336 billion yuan compared with the previous quarter, an increase of 47% from the previous quarter, ranking first among the 31 S&W industries. During the same period, the overall banking sector index increased by more than 16%. In addition, the value of northbound capital holdings in large financial and consumer sectors such as pharmaceuticals and biology, non-bank finance, transportation, household appliances, food and beverages, etc. has increased significantly. (Shanghai Securities News)