农林牧渔24Q3持仓分析：板块配置比例下行，种植、宠食获加仓

Investment Rating - The industry rating is "Outperform the Market" [5] Core Insights - In Q3 2024, the agricultural sector's heavy holding ratio decreased, slightly below the industry benchmark level, with a total market value of 38.208 billion yuan, a decrease of 8.98% quarter-on-quarter [1][13] - The allocation in the breeding sector has declined, while significant increases were observed in the planting and pet food sectors, with market values of 2.501 billion yuan and 442 million yuan respectively, reflecting increases of 80.57% and 93.49% quarter-on-quarter [2][21] - The top ten holdings in the agricultural sector are primarily focused on livestock breeding, with the top three stocks being Wens Foodstuffs, Muyuan Foods, and Haida Group, which together account for 73.07% of the total agricultural heavy holdings [3][23] Summary by Sections 1. Agricultural Heavy Holdings Decrease - The agricultural heavy holding ratio in Q3 2024 is 1.21%, down by 0.37 percentage points from the previous quarter, ranking 20th among 31 primary industries [1][13] 2. Fund Allocation Changes - The total market value of the breeding sector decreased to 24.775 billion yuan, down 11.36% quarter-on-quarter, while the planting and pet food sectors saw significant increases in holdings [2][21] 3. Investment Recommendations - For the breeding chain, the report suggests focusing on Muyuan Foods, Wens Foodstuffs, and Huatong Holdings, as the pig price remains supported and profitability is expected to continue [3][28] - In the planting chain, the ongoing commercialization of genetically modified crops is expected to expand market space, with recommendations to pay attention to Dabeinong, Longping High-Tech, and other leading companies [3][28]