Insurance funds appear in the list of the top ten circulating shareholders of 713 A-share companies

With the disclosure of the 2025 third-quarter reports of listed companies coming to an end, the situation of heavy holdings by insurance institutions at the end of the third quarter and their adjustments in stock holdings during the third quarter have also come to light. According to Wind Information, as of the end of the third quarter this year, insurance institutions appeared in the top ten circulating shareholders of 713 A-share listed companies. In the third quarter, insurance institutions entered 203 new stocks, increased holdings in 185 stocks, and maintained positions in 112 stocks. Specifically, excluding China Life Group's holdings in China Life and Ping An Group's holdings in Ping An Bank, as of the end of the third quarter, the top 10 A-share stocks by the number of shares held by insurance institutions were Minsheng Bank, SPD Bank, Agricultural Bank of China, PSBC, China Unicom, Beijing-Shanghai High-Speed Railway, Zheshang Bank, Huaxia Bank, Industrial Bank, and Gemdale Corporation. The heavy holdings by insurance institutions continue to reflect their traditional style, with a significant number of bank stocks. In terms of changes in holdings, as of the end of the third quarter, the stocks with a significant increase in holdings compared to the end of the second quarter were PSBC, NJBK, Hunan Valin Steel, Changshu Bank, and China Foreign Trade. Additionally, among the 203 heavy stocks newly entered by insurance institutions in the third quarter of this year, the top five by the number of shares held were Agricultural Bank of China, Industrial and Commercial Bank of China, Joy City, Zijin Mining, and Quzhou Development