Q4 2025 Social Security Fund Enters 11 New Stocks, Which Social Security Fund Is the Strongest

Yangtze Evening News Network, March 21 (Reporter Bo Yunfeng) — As the 2025 annual reports of A-share listed companies are gradually disclosed, social security funds, serving as a “ballast” in the capital market with safety and long-term stability, are increasingly revealing their holdings trends in the fourth quarter of 2025.

According to the top ten circulating shareholdings of listed companies, as of March 19, 28 stocks have social security funds (including “basic pension funds,” the same below) among their top ten circulating shareholders, with a total holding of 880 million shares, and a market value of over 13.2 billion yuan at the end of the fourth quarter of 2025.

Based on shareholding volume, China Merchants Shekou, Nanshan Aluminum, and Nanjing Steel have social security fund holdings exceeding 100 million shares, at 222 million, 164 million, and 108 million shares respectively.

At the end of the year, four stocks had a market value of holdings exceeding 1 billion yuan: China Merchants Shekou, Zangge Mining, Shanjin International, and Shantui. According to the ranking of social security fund (including basic pension) holdings market value at the end of 2025, the values are 1.921 billion yuan, 1.646 billion yuan, 1.253 billion yuan, and 1.165 billion yuan, maintaining the top four positions.

Ranking of social security fund (including basic pension) holdings market value at the end of 2025.

China Merchants Shekou’s social security fund holdings market value reached 1.921 billion yuan at the end of 2025, with two social security funds ranking fifth and sixth among circulating shareholders, one of which increased its holdings by 11.2 million shares in the fourth quarter. From the perspective of continuous holding periods, social security funds have held this stock for 14 consecutive quarters since Q3 2022. The company achieved approximately 154.727 billion yuan in operating revenue in 2025, a 13.53% decrease year-on-year; net profit attributable to shareholders was about 1.024 billion yuan, down 74.65% year-on-year.

Zangge Mining’s social security fund holdings market value was 1.646 billion yuan, with the National Social Security Fund No. 103 Portfolio holding 19.5 million shares, and increasing holdings by 1.5 million shares in the fourth quarter. The company achieved operating revenue of 3.577 billion yuan in 2025, up 10.03% year-on-year; net profit attributable to shareholders was 385.2 million yuan, up 49.32% year-on-year; it plans to distribute a cash dividend of 15 yuan (tax included) per 10 shares to all shareholders.

Shanjin International’s social security fund holdings market value reached 1.253 billion yuan, with the National Social Security Fund No. 112 Portfolio (a stock investment portfolio managed by China Investment Corporation on behalf of the National Social Security Fund) and No. 106 Portfolio (one of several investment portfolios under the National Social Security Fund) ranking fourth and ninth among circulating shareholders, holding a total of 51.5058 million shares. Since Q2 2024, social security funds have held this stock for seven consecutive quarters. Benefiting from the surge in international gold prices, Shanjin International achieved total operating revenue of 17.099 billion yuan in 2025, up 25.86% year-on-year; net profit attributable to shareholders was 2.972 billion yuan, up 36.75% year-on-year.

Considering the top ten circulating shareholders, 11 stocks saw new entries from social security funds in Q4 2025, including Kelun Pharmaceutical, Putailai, Xinnuowei, AVIC High-Tech, and Gaoneng Environment, with all seven new stocks having year-end holdings exceeding 1 billion yuan.

In terms of performance, the overall performance of stocks held by social security funds has been relatively good. Eighteen stocks achieved year-on-year growth in net profit attributable to shareholders in 2025, while only seven showed a decline. The net profit growth rates of *ST Songfa, Dajin Heavy Industry, Putailai, Baofeng Energy, Shennan Circuit, Gaoneng Environment, and Shanghai Xinyang all exceeded 70%.

From the market perspective, most stocks held by social security funds have risen this year (as of March 19), with Yaxiang Integration and Gaoneng Environment increasing by over 80%, Baofeng Energy by over 60%, and others like *ST Songfa, Dajin Heavy Industry, Jiazexineng, Jiansheng Group, Shanghai Xinyang, and Shanjin International increasing by over 20%.