Social Security Fund Heavy Position Stocks Revealed!

Four Q4 stocks added to social security fund holdings in 2025.

As the annual reports of A-share listed companies for 2025 are gradually released, the holdings of social security funds—considered a “ballast” in the capital market due to their safety and long-term nature—are beginning to surface.

According to Data Treasure by Securities Times, based on the top ten tradable shareholders of listed companies, as of March 19, 28 stocks had social security funds (including “basic pension”) among their top ten tradable shareholders, holding a total of 880 million shares, with a market value exceeding 13.2 billion yuan at the end of Q4 2025.

4 stocks with holdings over 1 billion yuan

Based on shareholding volume, China Merchants Shekou (001979), Nanshan Aluminum (600219), and Nanjing Steel (600282) each hold over 100 million shares by social security funds, with 222 million, 164 million, and 108 million shares respectively. At year-end, four stocks had market values exceeding 10 billion yuan, including China Merchants Shekou, Zangge Mining, Shanjin International, and Shantui (000680).

China Merchants Shekou’s social security fund holdings were valued at 1.921 billion yuan at the end of 2025, with two social security funds ranking fifth and sixth among the top ten tradable shareholders. One of these increased its holdings by 11.2 million shares in Q4. The fund has held this stock for 14 consecutive quarters since Q3 2022. The company achieved approximately 154.727 billion yuan in revenue in 2025, down 13.53% year-over-year; net profit attributable to shareholders was about 1.024 billion yuan, down 74.65%.

Zangge Mining’s social security fund holdings were valued at 1.646 billion yuan. The National Social Security Fund’s 103rd portfolio held 19.5 million shares, with a 1.5 million share increase in Q4. The company’s 2025 revenue was 3.577 billion yuan, up 10.03% YoY; net profit attributable to shareholders was 385.2 million yuan, up 49.32%. It plans to distribute a cash dividend of 15 yuan per 10 shares (tax included) to all shareholders.

Shanjin International’s social security fund holdings were valued at 1.253 billion yuan. The 112th and 106th portfolios ranked fourth and ninth among the largest tradable shareholders, holding a combined 51.5058 million shares. Since Q2 2024, social security funds have held this stock for seven consecutive quarters. Benefiting from a surge in international gold prices, Shanjin International’s 2025 revenue reached 17.099 billion yuan, up 25.86% YoY; net profit attributable to shareholders was 2.972 billion yuan, up 36.75%.

Shantui’s social security fund holdings were valued at 1.165 billion yuan, with five social security funds among the top ten tradable shareholders, holding a total of 97.3012 million shares. The company’s net profit attributable to shareholders was about 1.211 billion yuan in 2025, up 9.86%, and it plans to distribute a cash dividend of 1 yuan per 10 shares (tax included).

11 stocks newly added in Q4

Considering only the top ten tradable shareholders, 11 stocks saw new social security fund holdings in Q4 2025. Among them, Kelun Pharmaceutical (002422), Putailai (603659), Xinnuowei (300765), AVIC High-Tech (600862), and GNE Environmental (603588) each had market values exceeding 1 billion yuan at year-end.

Kelun Pharmaceutical was newly held by the National Social Security Fund’s 416th portfolio with 13.9445 million shares, valued at 409 million yuan. The company has not yet disclosed its annual report but announced a share repurchase plan in January, aiming to buy back 50-100 million yuan worth of shares.

Putailai was newly held by the National Social Security Fund’s 502nd portfolio with 13.6693 million shares, valued at 374 million yuan. In 2025, the company achieved a net profit attributable to shareholders of 2.359 billion yuan, up 98.14%. Recently, Putailai announced plans to invest in a Malaysia-based lithium-ion battery anode material project with a total investment of $297 million.

Overall performance of holdings shows growth

In terms of performance, the overall performance of social security fund holdings has been strong. Eighteen stocks achieved YoY growth in net profit attributable to shareholders in 2025, while only seven declined. Companies such as *ST Songfa, Dajin Heavy Industry (002487), Putailai, Baofeng Energy (600989), Shennan Circuit (002916), GNE Environmental, and Shanghai Xinyang (300236) all saw net profit increases of over 70%.

*ST Songfa’s net profit growth was the highest, reaching 2.655 billion yuan in 2025, up 1083.05% YoY. It was held by two social security funds, with a market value of 303 million yuan.

*ST Songfa’s performance surged mainly due to the completion of asset injection by Hengli Heavy Industry, enabling the company to successfully transition into shipbuilding. It has applied to the exchange to revoke its delisting warning. Benefiting from the asset restructuring, *ST Songfa’s cumulative increase since 2025 has exceeded 110%, with over 45% since 2026.

Dajin Heavy Industry achieved a record high net profit of 1.103 billion yuan in 2025, up 132.82% YoY. At the end of Q4 2025, two basic pension funds appeared among the top ten tradable shareholders, with a combined market value of 535 million yuan.

In recent years, offshore wind power companies have shown strong momentum in overseas markets. Dajin Heavy Industry recently stated during a survey that about 16 GW of offshore wind projects in Germany are in progress, with some project results expected to be announced this year.

From the market perspective, most social security stocks have risen this year (as of March 19), including Yaxiang Integration (603929) and GNE Environmental, which both increased over 80%, Baofeng Energy up over 60%, and *ST Songfa, Dajin Heavy Industry, Jiazhe New Energy (601619), Jiansheng Group (603558), Shanghai Xinyang, and Shanjin International, all up over 20%.

(Editors: Zhang Yan)

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