As the third-quarter earnings reports conclude, the latest portfolio adjustments of billion-yuan private equity funds have come to light. Data shows that as of October 30, products under 43 billion-yuan private funds appeared in the top ten circulating shareholder lists of 168 listed companies, with a combined holding market value reaching 67.166 billion yuan.
In terms of portfolio adjustments, billion-yuan private funds were generally active in trading during the third quarter, with new entries and increases far outnumbering reductions. Specifically, there were 67 newly added stocks, 23 increased positions, 20 reduced positions, and 58 stocks with unchanged holdings.
From an industry distribution perspective, the core holdings of billion-yuan private funds show a clear characteristic of "traditional energy plus core consumption," while maintaining high attention to the technology manufacturing sector. Among the 15 Shenwan first-level industries with holding market values of no less than 1 billion yuan, the petroleum and petrochemical sector topped the list with a total holding market value of 10.159 billion yuan, followed by the coal industry with 9.876 billion yuan, and the food and beverage industry ranked third with 7.610 billion yuan. In addition, sectors such as computers, basic chemicals, communications, utilities, home appliances, electronics, and non-ferrous metals also saw billion-yuan private fund holdings exceeding 2 billion yuan.
If observed from the dimension of the number of holdings, machinery equipment, computers, electronics, basic chemicals, pharmaceutical biology, and food and beverage became the most densely positioned areas for billion-yuan private funds, with the number of held stocks in each not less than 10.
At the individual stock level, high-dividend stocks and industry leaders remain the "ballast" of billion-yuan private fund heavy positions. Among the 168 heavily held stocks, 14 stocks received heavy investments of over 1 billion yuan from billion-yuan private funds. Data source: Private Equity Pai Pai Wang, as of October 30, 2026. Specifically, China Shenhua (ASX: 01088) took the top spot, becoming the largest heavy position of billion-yuan private funds, with a holding market value of 5.172 billion yuan; China Telecom ranked second with a holding market value of 4.784 billion yuan; Hikvision received heavy positions from Gaoyi Asset and Chongyang Strategy, with a combined holding market value of 4.506 billion yuan, ranking third. In addition, industry leaders such as Shaanxi Coal, PetroChina, Yili Group, SDIC Power, and Wanhua Chemical also received holding market values exceeding 3 billion yuan from billion-yuan private funds.
It is worth noting that billion-yuan private funds showed strong consensus on certain quality targets. Statistics show that 8 stocks, including Hikvision, Eastern Shenghong, Haier Smart Home, Xinje Electric, Xianle Health, Huaxi Technology, Huaxin Yongdao, and Qian'an Technology, all received group heavy positions from at least 2 billion-yuan private funds. Among them, Huaxi Technology attracted the favor of 3 billion-yuan private funds, including Mingshi Fund and Qianyi Investment. MACD golden cross signals have formed, and these stocks are performing well!
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