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Annual Report Unveiled! Latest Heavy Holdings of QFIIs, Social Security Funds, Brokerages and Other Institutions Here
As listed companies gradually disclose their 2025 annual reports, the latest major holdings of institutional investors such as social security, QFII, and pension funds are also emerging.
Choice data shows that by March 17, over 100 A-share listed companies had released their 2025 annual reports. Among them, 23 companies have social security funds among their top ten circulating shareholders, with QFII, pension funds, and securities firms also appearing on the top ten shareholder lists of many companies.
Latest QFII Movements
Among the listed companies that have announced their 2025 annual reports, QFII appears in the top ten circulating shareholders of 18 stocks.
Specifically, Abu Dhabi Investment Authority holds 44.81 million shares of Baofeng Energy, with a market value of 880 million yuan; UBS holds 1.5813 million shares of Demingli, valued at 367 million yuan, and also owns shares in Xin Nuo Wei, Baosheng Shares, and Huitong Energy; Barclays Bank and Morgan Stanley & Co. International PLC both hold shares in Dawei Shares and Shuhua Sports.
Additionally, Goldman Sachs owns shares in Tianhong Shares, Shuhua Sports, and Hefei China.
Data source: Choice
Latest Social Security Movements
Social security funds are among the top ten circulating shareholders in 23 companies.
Among them, the National Social Security Fund’s 112 Portfolio and 413 Portfolio together hold 222 million shares of China Merchants Shekou, with a market value of 1.921 billion yuan; the National Social Security Fund’s 106 Portfolio and 112 Portfolio together hold 5.1508 million shares of Shan Jin International, valued at 1.253 billion yuan; the 103 Portfolio and 114 Portfolio hold shares in Zangge Mining and Nanshan Aluminum worth 1.646 billion yuan and 884 million yuan, respectively.
In addition, shares held by social security funds in companies like Shantui, Shenan Circuit, Baofeng Energy, and Nanjing Steel are all valued at over 500 million yuan.
Data source: Choice
Latest Insurance Company Movements
Regarding shareholdings by insurance companies, among the listed companies that have announced their 2025 annual reports, Harmony Health Insurance holds 38.7966 million shares of ZTE Corporation, valued at 1.468 billion yuan; New China Life holds shares in Shan Jin International and Chongqing Beer, valued at 735 million yuan and 780 million yuan; China Pacific Life and Ping An Insurance each hold shares in Yue Expressway A and CITIC Special Steel, with market values exceeding 200 million yuan.
Data source: Choice
Latest Pension Fund Movements
The pension fund with the highest market value holdings is Dajin Heavy Industry, with the 1205 and 1204 portfolios holding a total of 10.2997 million shares, valued at 535 million yuan; next is Xin Nuo Wei, with the 2004 portfolio holding 7.7716 million shares, valued at 280 million yuan.
Data source: Choice
Latest Securities Firm Movements
Shenwan Hongyuan holds 15.8117 million shares of Zangge Mining and 23.9345 million shares of Jiaozuo Wanfang, with market values of 1.335 billion yuan and 264 million yuan; CITIC Construction Investment, Orient Securities, CICC, China Merchants Securities, and CITIC Securities each hold shares in Chongqing Beer, Yue Expressway A, Dajin Heavy Industry, Yue Expressway A, and Shandong Pharmaceutical Glass, all valued at over 100 million yuan.
Data source: Choice
Changes in Northbound Capital Holdings
As of the end of 2025, Northbound funds hold a total of 3,767 stocks, with 41 stocks valued at over 10 billion yuan, and 11 stocks with holdings increasing by over 100 million shares.
The largest holding is CATL, with 693 million shares valued at 254.343 billion yuan, increasing by 31.6977 million shares in the fourth quarter. The second and third largest holdings are Midea Group and Kweichow Moutai, with market values of 77.049 billion yuan and 75.812 billion yuan.
Among the top 20 holdings, Northbound funds increased positions in 12 stocks, notably CATL, China Merchants Bank, Zijin Mining, Ping An, Luxshare Precision, and Foxconn Industrial Internet; while reducing holdings in 8 stocks, including Kweichow Moutai, Hengrui Medicine, Sany Heavy Industry, and BYD.
Data source: Choice