Di Yi Cai Jing·2025-09-02 10:49Core Insights - The social security fund has newly invested in 19 stocks in the second quarter, focusing on high-performing sectors such as biomedicine, computers, and electronics, which are aligned with national strategic priorities and economic transformation [1][5] Investment Trends - As of the end of the second quarter, the social security fund held 77 stocks in the Sci-Tech Innovation Board, with a total holding of 337 million shares valued at 15.37 billion yuan, having newly entered 19 stocks and increased holdings in 28 stocks [1][2] - The fund's investment style is characterized by a cautious approach, emphasizing value investment and long-term returns, with a notable increase in allocations to technology innovation companies [1][2] Sector Focus - The fund's holdings are primarily concentrated in four sectors: electronics (20 companies), biomedicine (13 companies), machinery (10 companies), and computers (11 companies) [1] - In terms of stock count, the fund's top holdings include 7 stocks with over 10 million shares, with Transsion Holdings (382.64 million shares) leading, followed by Western Superconducting (205.81 million shares) [2] Performance Metrics - The newly added 19 stocks showed median year-on-year growth rates of 25.7% in revenue and 28.14% in net profit, significantly outperforming the overall market [6] - The fund's focus on biomedicine is evident, with 4 new investments in this sector, alongside 2 each in electronics, military, communications, and computers [6] Notable Stock Movements - The fund increased its holdings in several key stocks, including a significant increase of 6.37 million shares in Transsion Holdings, marking the largest single stock increase for the quarter [3][4] - Other notable increases include 5 stocks in the biomedicine sector and 4 in the computer sector, with specific increases exceeding 1 million shares [4][5] Reduction in Holdings - In the second quarter, 38 stocks on the Sci-Tech Innovation Board were reduced in holdings by the social security fund, with 24 of these seeing reductions of over 1 million shares [8] - Some stocks that were reduced have since experienced significant price increases, indicating a potential misalignment in the fund's timing of trades [8]