GF Fund Management Co. LTD.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 29, 2025), GF Fund Management Co. LTD. reported 666 stock positions worth $4.3 billion. Its top holding was Apple (AAPL) at 7.8% of the portfolio, followed by Nvidia (NVDA, 6.8%) and Microsoft (MSFT, 6.6%). Compared with Q4 2024, it opened 46 new positions, sold out of 17, added to 475 and reduced 93. The biggest buy was Philip Morris International (PM, shares +39282%) and the biggest sale Nvidia (NVDA, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- GUANGZHOU, F4
- CIK
- 0002057060
- Portfolio Value
- $4.3B (Q1 2025)
- SEC Filing
- 0002057060-25-000003 ↗ filed Apr 29, 2025
Holdings Value
Holdings 666 stocks · $4.3B
| AAPL Apple Inc. | 7.82% | 1,500,539 | $333.3M | Add +0.3% |
| NVDA Nvidia Corp. | 6.78% | 2,666,809 | $289.0M | Reduce -8.2% |
| MSFT Microsoft Corp. | 6.63% | 753,331 | $282.8M | Reduce -1.5% |
| AMZN Amazon.com Inc. | 5.32% | 1,192,024 | $226.8M | Add +12.0% |
| META Meta Platforms Inc. Class A | 4.18% | 309,067 | $178.1M | Reduce -7.0% |
| AVGO Broadcom Inc. | 3.12% | 794,592 | $133.0M | Add +0.2% |
| PDD PDD Holdings Inc. | 2.73% | 981,853 | $116.2M | Reduce -25.9% |
| TSLA Tesla Inc. | 2.61% | 429,750 | $111.4M | Add +1.6% |
| GOOG Alphabet Inc. Class C | 2.36% | 642,650 | $100.4M | Reduce -8.7% |
| COST Costco Wholesale Corp. | 2.17% | 97,703 | $92.4M | Add +1.4% |
| NFLX Netflix Inc. | 1.84% | 83,988 | $78.3M | Add +3.7% |
| GOOGL Alphabet Inc. Class A | 1.73% | 478,232 | $74.0M | Add +1.5% |
| TMUS T-Mobile US Inc. | 1.49% | 237,737 | $63.4M | Add +8.1% |
| CSCO Cisco Systems Inc. | 1.11% | 768,394 | $47.4M | Add +1.8% |
| PM Philip Morris International | 1.01% | 271,342 | $43.1M | Add +39282.0% |
| LIN Linde PLC | 1.00% | 91,809 | $42.7M | Add +1.7% |
| PEP Pepsico Inc. | 0.93% | 264,721 | $39.7M | Add +1.8% |
| PLTR Palantir Technologies Inc. Class A | 0.92% | 466,027 | $39.3M | Add +74.7% |
| AMGN Amgen Inc. | 0.91% | 125,019 | $38.9M | Add +2.7% |
| ISRG Intuitive Surgical Inc. | 0.88% | 75,636 | $37.5M | Add +1.8% |
| SNPS Synopsys Inc. | 0.86% | 85,874 | $36.8M | Add +0.6% |
| COP Conocophillips | 0.85% | 345,807 | $36.3M | Reduce -2.2% |
| NOW ServiceNow Inc. | 0.85% | 45,431 | $36.2M | Reduce -18.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.85% | 217,204 | $36.1M | Reduce -6.8% |
| AMD Advanced Micro Devices | 0.83% | 345,493 | $35.5M | Reduce -2.6% |
| INTU Intuit Inc. | 0.78% | 54,094 | $33.2M | Add +0.8% |
| ADBE Adobe Inc. | 0.78% | 86,172 | $33.0M | Add +3.3% |
| QCOM Qualcomm Inc. | 0.77% | 214,474 | $32.9M | Add +0.6% |
| GILD Gilead Sciences Inc. | 0.77% | 292,840 | $32.8M | Add +3.0% |
| TXN Texas Instruments Inc. | 0.74% | 176,017 | $31.6M | Add +1.8% |
| BKNG Booking Holdings Inc. | 0.71% | 6,534 | $30.1M | Add +4.2% |
| VRTX Vertex Pharmaceuticals Inc. | 0.69% | 60,812 | $29.5M | Add +2.8% |
| LLY Eli Lilly & Co. | 0.65% | 33,425 | $27.6M | No change |
| CMCSA Comcast Corp. Class A | 0.64% | 736,435 | $27.2M | Add +1.8% |
| HON Honeywell International Inc. | 0.62% | 125,585 | $26.6M | Add +1.9% |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 0.62% | 1,320,226 | $26.5M | Reduce -35.1% |
| PANW Palo Alto Networks Inc. | 0.57% | 141,158 | $24.1M | Add +1.7% |
| ADP Automatic Data Processing | 0.56% | 78,527 | $24.0M | Add +1.7% |
| AMAT Applied Materials Inc. | 0.54% | 159,114 | $23.1M | Add +1.7% |
| CDNS Cadence Design SYS Inc. | 0.53% | 88,462 | $22.5M | Add +1.2% |
| SBUX Starbucks Corp. | 0.50% | 218,795 | $21.5M | Add +1.8% |
| YUMC Yum China Holdings Inc. | 0.50% | 410,800 | $21.4M | Add +205.1% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.49% | 59,634 | $21.0M | Add +1.5% |
| REGN Regeneron Pharmaceuticals | 0.47% | 31,801 | $20.2M | Add +2.5% |
| CEG Constellation Energy | 0.47% | 99,196 | $20.0M | Add +16.1% |
| BABA Alibaba Group Holding-SP ADR | 0.46% | 149,502 | $19.8M | Add +23.0% |
| ADI Analog Devices Inc. | 0.45% | 95,886 | $19.3M | Add +1.9% |
| MELI MercadoLibre Inc. | 0.45% | 9,891 | $19.3M | Add +3.0% |
| ASML ASML Holding NV-NY Reg SHS | 0.45% | 29,035 | $19.2M | Reduce -15.3% |
| EOG EOG Resources Inc. | 0.45% | 147,963 | $19.0M | Reduce -3.8% |
| MU Micron Technology Inc. | 0.44% | 218,051 | $18.9M | Add +3.3% |
| INTC Intel Corp. | 0.44% | 832,271 | $18.9M | Add +1.8% |
| AEP American Electric Power | 0.44% | 169,798 | $18.6M | Reduce -2.3% |
| TCOM Trip.com Group Ltd.-ADR | 0.43% | 290,119 | $18.4M | Reduce -24.5% |
| LRCX Lam Research Corp. | 0.42% | 248,293 | $18.1M | Add +1.8% |
| KLAC KLA Corp. | 0.41% | 25,872 | $17.6M | Add +2.1% |
| MDLZ Mondelez International Inc. Class A | 0.41% | 258,086 | $17.5M | Add +1.8% |
| FANG Diamondback Energy Inc. | 0.39% | 103,275 | $16.5M | Reduce -1.4% |
| ORLY O'reilly Automotive Inc. | 0.38% | 11,202 | $16.0M | Add +2.4% |
| CTAS Cintas Corp. | 0.37% | 77,739 | $16.0M | Add +1.7% |
| APP AppLovin Corp. Class A | 0.37% | 59,796 | $15.8M | Add +2.4% |
| MSTR Strategy Inc. filed as MICROSTRATEGY INC | 0.35% | 51,288 | $14.8M | Add +70.8% |
| FTNT Fortinet Inc. | 0.33% | 147,870 | $14.2M | Add +1.8% |
| DASH DoorDash Inc. Class A | 0.33% | 77,771 | $14.2M | Add +5.5% |
| PSX Phillips 66 | 0.32% | 109,388 | $13.5M | Reduce -3.8% |
| MAR Marriott International Class A | 0.30% | 54,004 | $12.9M | Add +2.5% |
| UNH Unitedhealth Group Inc. | 0.30% | 24,412 | $12.8M | Add +1.8% |
| PYPL PayPal Holdings Inc. | 0.30% | 194,085 | $12.7M | Add +1.8% |
| WMT Walmart Inc. | 0.29% | 142,877 | $12.5M | Add +0.1% |
| MPC Marathon Petroleum Corp. | 0.29% | 84,305 | $12.3M | Reduce -3.8% |
| ROP Roper Technologies Inc. | 0.28% | 20,583 | $12.1M | Add +1.3% |
| YMM Full Truck Alliance -SPN ADR | 0.28% | 947,199 | $12.1M | Reduce -38.2% |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 0.27% | 114,465 | $11.7M | Reduce -20.3% |
| MNST Monster Beverage Corp. | 0.26% | 187,707 | $11.0M | Add +1.8% |
| CSX CSX Corp. | 0.26% | 372,004 | $10.9M | Add +1.8% |
| SE Sea Ltd.-ADR | 0.26% | 83,574 | $10.9M | Add +72.4% |
| HIMS Hims & Hers Health Inc. | 0.26% | 368,661 | $10.9M | New |
| ADSK Autodesk Inc. | 0.26% | 41,530 | $10.9M | Add +1.9% |
| PAYX Paychex Inc. | 0.25% | 69,514 | $10.7M | Add +1.9% |
| CPRT Copart Inc. | 0.25% | 186,003 | $10.5M | Add +1.9% |
| JNJ Johnson & Johnson | 0.25% | 63,449 | $10.5M | Add +5.1% |
| MRVL Marvell Technology Inc. | 0.24% | 167,035 | $10.3M | Reduce -31.1% |
| CHTR Charter Communications Inc. Class A | 0.24% | 27,472 | $10.1M | Add +1.9% |
| ABNB Airbnb Inc. Class A | 0.23% | 83,606 | $10.0M | Add +1.9% |
| PCAR Paccar Inc. | 0.23% | 101,194 | $9.9M | Add +1.8% |
| CRM Salesforce Inc. | 0.23% | 36,409 | $9.8M | Add +0.1% |
| WDAY Workday Inc. Class A | 0.23% | 41,151 | $9.6M | Add +1.9% |
| AZN Astrazeneca PLC-Spons ADR | 0.22% | 127,358 | $9.4M | Add +3.9% |
| NXPI NXP Semiconductors NV | 0.22% | 48,951 | $9.3M | Add +1.6% |
| EQT Eqt Corp. | 0.22% | 173,513 | $9.3M | Reduce -3.8% |
| TDG Transdigm Group Inc. | 0.21% | 6,587 | $9.1M | No change |
| ABBV Abbvie Inc. | 0.21% | 43,260 | $9.1M | No change |
| KDP Keurig Dr Pepper Inc. | 0.21% | 261,776 | $9.0M | Add +1.8% |
| TME Tencent Music Entertainm-ADR | 0.21% | 619,851 | $8.9M | Reduce -38.4% |
| EXC Exelon Corp. | 0.21% | 193,831 | $8.9M | Add +1.8% |
| HES Hess Corp. | 0.21% | 55,877 | $8.9M | Reduce -3.8% |
| FAST Fastenal Co. | 0.20% | 110,663 | $8.6M | Add +1.9% |
| BZ Kanzhun Ltd. - ADR | 0.20% | 438,314 | $8.4M | Reduce -33.3% |
| BKR Baker Hughes Co. | 0.20% | 190,930 | $8.4M | Add +1.8% |
| XEL Xcel Energy Inc. | 0.19% | 117,263 | $8.3M | Add +7.8% |
Portfolio Sells Q4 2024 → Q1 2025
| NVDA Nvidia Corp. | Reduce -8.2% | 6.78% | −1.65 |
| GOOG Alphabet Inc. Class C | Reduce -8.7% | 2.36% | −0.54 |
| NOW ServiceNow Inc. | Reduce -18.2% | 0.85% | −0.42 |
| MSFT Microsoft Corp. | Reduce -1.5% | 6.63% | −0.34 |
| MRVL Marvell Technology Inc. | Reduce -31.1% | 0.24% | −0.34 |
| BEKE Ke Holdings Inc.-ADR | Reduce -35.1% | 0.62% | −0.19 |
| KO The Coca-Cola Co. | Reduce -97.4% | 0.01% | −0.18 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -6.8% | 0.85% | −0.15 |
| TCOM Trip.com Group Ltd.-ADR | Reduce -24.5% | 0.43% | −0.14 |
| AAOI Applied Optoelectronics Inc. | Sold out | 0.00% | −0.11 |
| RACE Ferrari NV | Reduce -47.3% | 0.14% | −0.10 |
| AI C3.AI Inc. Class A | Sold out | 0.00% | −0.10 |
| AMD Advanced Micro Devices | Reduce -2.6% | 0.83% | −0.09 |
| RDDT Reddit Inc. Class A | Reduce -23.4% | 0.09% | −0.08 |
| YMM Full Truck Alliance -SPN ADR | Reduce -38.2% | 0.28% | −0.07 |
| ETN Eaton Corp. PLC | Reduce -46.6% | 0.07% | −0.07 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -15.3% | 0.45% | −0.06 |
| AFRM Affirm Holdings Inc. | Reduce -39.2% | 0.06% | −0.06 |
| PDD PDD Holdings Inc. | Reduce -25.9% | 2.73% | −0.05 |
| HOOD Robinhood Markets Inc. Class A | Reduce -85.2% | 0.01% | −0.05 |
| LULU Lululemon Athletica Inc. | Reduce -0.5% | 0.15% | −0.04 |
| QFIN Qfin Holdings Inc.-ADR | Reduce -37.0% | 0.15% | −0.04 |
| FTAI Ftai Aviation Ltd. | Reduce -55.0% | 0.02% | −0.04 |
| TME Tencent Music Entertainm-ADR | Reduce -38.4% | 0.21% | −0.04 |
| DUOL Duolingo | Reduce -41.8% | 0.06% | −0.04 |
| VIPS Vipshop Holdings Ltd. - ADR | Reduce -38.4% | 0.12% | −0.03 |
| META Meta Platforms Inc. Class A | Reduce -7.0% | 4.18% | −0.03 |
| PCG P G & E Corp. | Reduce -9.4% | 0.12% | −0.02 |
| TAL Tal Education Group- ADR | Reduce -38.4% | 0.14% | −0.02 |
| ATHM Autohome Inc.-ADR | Reduce -38.4% | 0.04% | −0.02 |
| JOYY Joyy Inc.-ADR | Reduce -38.4% | 0.03% | −0.01 |
| WB Weibo Corp.-Spon ADR | Reduce -38.4% | 0.02% | −0.01 |
| IQ Iqiyi Inc.-ADR | Reduce -38.4% | 0.03% | −0.01 |
| API Agora Inc.-ADR | Sold out | 0.00% | −0.01 |
| RBLX Roblox Corp. Class A | Reduce -16.5% | 0.09% | −0.01 |
| PNR Pentair PLC | Sold out | 0.00% | −0.01 |
| TYL Tyler Technologies Inc. | Sold out | 0.00% | −0.01 |
| ALAB Astera Labs Inc. | Sold out | 0.00% | −0.01 |
| SM SM Energy Co. | Reduce -3.8% | 0.02% | −0.01 |
| CIVI Civitas Resources Inc. | Reduce -3.8% | 0.02% | −0.01 |
| IBM Intl Business Machines Corp. | Sold out | 0.00% | −0.01 |
| QGEN Qiagen NV | Sold out | 0.00% | −0.00 |
| SWKS Skyworks Solutions Inc. | Sold out | 0.00% | −0.00 |
| WAB Wabtec Corp. | Sold out | 0.00% | −0.00 |
| PBF PBF Energy Inc. Class A | Reduce -3.8% | 0.01% | −0.00 |
| CLMT Calumet Inc. | Reduce -3.8% | 0.01% | −0.00 |
| CNX CNX Resources Corp. | Reduce -3.8% | 0.03% | −0.00 |
| NOG Northern Oil and Gas Inc. | Reduce -3.8% | 0.02% | −0.00 |
| CRGY Crescent Energy Inc. Class A | Reduce -3.8% | 0.01% | −0.00 |
| KOS Kosmos Energy Ltd. | Reduce -3.8% | 0.01% | −0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| PM Philip Morris International | Add +39282.0% | 1.01% | +1.01 |
| PLTR Palantir Technologies Inc. Class A | Add +74.7% | 0.92% | +0.49 |
| TMUS T-Mobile US Inc. | Add +8.1% | 1.49% | +0.44 |
| NFLX Netflix Inc. | Add +3.7% | 1.84% | +0.28 |
| AMZN Amazon.com Inc. | Add +12.0% | 5.32% | +0.27 |
| COST Costco Wholesale Corp. | Add +1.4% | 2.17% | +0.26 |
| HIMS Hims & Hers Health Inc. | New | 0.26% | +0.26 |
| BABA Alibaba Group Holding-SP ADR | Add +23.0% | 0.46% | +0.24 |
| AMGN Amgen Inc. | Add +2.7% | 0.91% | +0.23 |
| GILD Gilead Sciences Inc. | Add +3.0% | 0.77% | +0.20 |
| LIN Linde PLC | Add +1.7% | 1.00% | +0.19 |
| VRTX Vertex Pharmaceuticals Inc. | Add +2.8% | 0.69% | +0.18 |
| MSTR Strategy Inc. | Add +70.8% | 0.35% | +0.16 |
| CSCO Cisco Systems Inc. | Add +1.8% | 1.11% | +0.15 |
| SE Sea Ltd.-ADR | Add +72.4% | 0.26% | +0.14 |
| VNET Vnet Group Inc.-ADR | New | 0.11% | +0.11 |
| SAP Sap SE-Sponsored ADR | New | 0.11% | +0.11 |
| VST Vistra Corp. | Add +32038.3% | 0.11% | +0.11 |
| MELI MercadoLibre Inc. | Add +3.0% | 0.45% | +0.10 |
| ORLY O'reilly Automotive Inc. | Add +2.4% | 0.38% | +0.10 |
| INTC Intel Corp. | Add +1.8% | 0.44% | +0.09 |
| MDLZ Mondelez International Inc. Class A | Add +1.8% | 0.41% | +0.08 |
| SBUX Starbucks Corp. | Add +1.8% | 0.50% | +0.08 |
| PEP Pepsico Inc. | Add +1.8% | 0.93% | +0.08 |
| RKLB Rocket Lab USA Inc. | New | 0.08% | +0.08 |
| ADP Automatic Data Processing | Add +1.7% | 0.56% | +0.07 |
| CTAS Cintas Corp. | Add +1.7% | 0.37% | +0.07 |
| KLAC KLA Corp. | Add +2.1% | 0.41% | +0.07 |
| DASH DoorDash Inc. Class A | Add +5.5% | 0.33% | +0.07 |
| QCOM Qualcomm Inc. | Add +0.6% | 0.77% | +0.06 |
| MU Micron Technology Inc. | Add +3.3% | 0.44% | +0.06 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +1.5% | 0.49% | +0.06 |
| JNJ Johnson & Johnson | Add +5.1% | 0.25% | +0.06 |
| ROP Roper Technologies Inc. | Add +1.3% | 0.28% | +0.06 |
| CEG Constellation Energy | Add +16.1% | 0.47% | +0.06 |
| EXC Exelon Corp. | Add +1.8% | 0.21% | +0.05 |
| CMCSA Comcast Corp. Class A | Add +1.8% | 0.64% | +0.05 |
| INTU Intuit Inc. | Add +0.8% | 0.78% | +0.05 |
| HSAI Hesai Group | Add +68.4% | 0.10% | +0.05 |
| MNST Monster Beverage Corp. | Add +1.8% | 0.26% | +0.05 |
| AZN Astrazeneca PLC-Spons ADR | Add +3.9% | 0.22% | +0.05 |
| YPF YPF S.A.-Sponsored ADR | New | 0.05% | +0.05 |
| PAYX Paychex Inc. | Add +1.9% | 0.25% | +0.04 |
| LRCX Lam Research Corp. | Add +1.8% | 0.42% | +0.04 |
| TXN Texas Instruments Inc. | Add +1.8% | 0.74% | +0.04 |
| EDN Emp Distrib Y Comerc Nor-ADR | New | 0.04% | +0.04 |
| ISRG Intuitive Surgical Inc. | Add +1.8% | 0.88% | +0.04 |
| SO The Southern Co. | Add +4.9% | 0.18% | +0.04 |
| CHTR Charter Communications Inc. Class A | Add +1.9% | 0.24% | +0.04 |
| UNH Unitedhealth Group Inc. | Add +1.8% | 0.30% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 587 | $8.3B | SNDK, MU, NVDA, AAPL, AMD |
| Q1 2026 | 624 | $6.0B | NVDA, AAPL, AMZN, MSFT, GOOG |
| Q4 2025 | 643 | $5.9B | NVDA, AAPL, MSFT, GOOG, AMZN |
| Q3 2025 | 631 | $5.5B | NVDA, MSFT, AAPL, AVGO, AMZN |
| Q2 2025 | 660 | $5.0B | NVDA, MSFT, AAPL, AMZN, AVGO |
| Q1 2025 | 666 | $4.3B | AAPL, NVDA, MSFT, AMZN, META |
| Q4 2024 | 637 | $4.6B | NVDA, AAPL, MSFT, AMZN, META |