The market value of tech stocks held by the Social Security Fund has reached a record high for the same period in history.
As of the end of the third quarter, the Social Security Fund's holdings in tech stocks (covering the four major TMT sectors: electronics, communications, computers, and media) exceeded 46.9 billion yuan, marking a historic high and reflecting the fund's growing preference for tech stocks.
**Tech Stock Holdings Hit Record High** By sector, the Social Security Fund's holdings in electronics were valued at nearly 27.4 billion yuan, the highest among tech stocks. The computer sector followed with holdings worth over 7.7 billion yuan, while media and communications holdings stood at 7.322 billion yuan and 4.433 billion yuan, respectively.
Compared to the third quarter of last year, the fund's tech stock holdings surged by nearly 61%, and since 2011, the value has grown more than 18-fold.
Among individual stocks, Transsion Holdings saw three Social Security Fund portfolios holding its shares, with a total market value exceeding 4.5 billion yuan, ranking first.
Kaiyuan Securities noted that Transsion's shift toward mid-to-high-end smartphones and expansion into new markets, along with rising smartphone penetration in Africa, could drive long-term growth.
Other major holdings included **Pegatron**, **Focus Media**, **Unigroup Guoxin Microelectronics**, and **Shennan Circuits**, each with holdings exceeding 1 billion yuan.
**New Positions Revealed** The National Social Security Fund 113 Portfolio and Basic Pension Insurance Fund 802 Portfolio newly acquired 20.9254 million shares of **Unigroup Guoxin Microelectronics** in Q3, with holdings valued at nearly 1.9 billion yuan, topping the list.
Minmetals Securities highlighted that as a leader in specialized chips, **Unigroup Guoxin Microelectronics** will benefit from industry growth and domestic substitution demand.
Meanwhile, the National Social Security Fund 111 Portfolio and Social Security Fund 420 Portfolio newly invested in **Giant Network** with 27.8482 million shares, valued at over 1.258 billion yuan.
Pacific Securities pointed out that **Giant Network**'s stable operation of its "Journey" IP series and contributions from "Supernatural Action Group" could drive future earnings as deferred revenue is recognized.
Additionally, the Social Security Fund also entered **Hengtong Optic-Electric**, **Espressif Systems**, and **Shengyi Technology** as top 10 shareholders, with holdings exceeding 500 million yuan each.
**Long-Term Holdings Exposed** Notably, the Social Security Fund has maintained long-term positions in certain tech stocks. Data shows that **Zhongnan Media**, **Zhongyuan Media**, **Phoenix Media**, **Yealink Network**, **Sanhuan Group**, and **Transsion Holdings** have been held for 24 consecutive quarters or more. Among them, **Transsion Holdings** and **Yealink Network** each had holdings exceeding 1 billion yuan.
Galaxy Securities stated that **Yealink Network**, a global leader in video conferencing, is poised for growth due to rising demand for AI-powered meeting products and cloud office terminals, along with market share expansion.
Beyond these, 11 other tech stocks have been held by the Social Security Fund for over three years, including **Pegatron**, with holdings exceeding 3.2 billion yuan.
Overall, the fund's long-term tech holdings fall into two categories: industry leaders with strong dividends and high-dividend-yield media stocks.
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