持有A股市值超5000亿的社保基金二季度做了哪些腾挪？

Core Viewpoint - The Social Security Fund has maintained a stable investment strategy, focusing on low-volatility sectors such as banking and non-bank financials, resulting in steady profits during the index rally [1][3]. Group 1: Social Security Fund Holdings - As of August 31, the Social Security Fund held shares in 582 listed companies, with a total market value of 563.73 billion, reflecting a quarter-on-quarter increase of 8.09% [4]. - The banking sector remains the core holding, with a total market value of 322.4 billion, accounting for 57.2% of the total holdings, and a quarter-on-quarter increase of 11.7% [4][5]. - Non-bank financials saw a significant increase in holdings, with a market value of 66.4 billion, representing a net increase of 16 percentage points [4][6]. Group 2: Sector Performance - Nine sectors held over 10 billion in market value, including banking, non-bank financials, transportation, basic chemicals, machinery, electronics, non-ferrous metals, pharmaceuticals, and electric equipment [6]. - The transportation, basic chemicals, and electronics sectors experienced net increases in holdings during the second quarter [6]. - The defense and military sector had the highest growth at 19.8%, but the Social Security Fund reduced its holdings by nearly 20 percentage points [7]. Group 3: Top Holdings and Changes - The top twenty holdings accounted for 75.6% of the total portfolio, with an average increase of 17.2% year-to-date [9]. - New additions to the top holdings included Jin Chengxin, while China National Offshore Oil Corporation was removed [9][11]. - The fund increased its stakes in eight companies, including China Pacific Insurance, Transsion Holdings, and Hualu Chemical [9][11]. Group 4: Financial Performance of Holdings - Companies that were increased in holdings reported profits, with Jin Chengxin's net profit rising by 78% year-on-year [11]. - Other companies like China Pacific Insurance and Changshu Bank also showed steady profit growth, while some, like Transsion Holdings and Hualu Chemical, experienced declines [11][12]. Group 5: Investment Strategy - The Social Security Fund showed limited enthusiasm for high-growth technology stocks, with only one technology stock, Luguan Technology, entering the top twenty holdings [13][18]. - The fund's strategy remains conservative, focusing on stable sectors like banking and low-volatility transportation, while being cautious with high-flying tech stocks [19].