GF Fund Management Co. LTD.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 27, 2026), GF Fund Management Co. LTD. reported 643 stock positions worth $5.9 billion. Its top holding was Nvidia (NVDA) at 7.9% of the portfolio, followed by Apple (AAPL, 6.9%) and Microsoft (MSFT, 5.9%). Compared with Q3 2025, it opened 76 new positions, sold out of 64, added to 199 and reduced 353. The biggest buy was Lumentum (LITE, shares +3%) and the biggest sale Broadcom (AVGO, shares −26%).
- Most Recent 13F
- Q2 2026
- Location
- GUANGZHOU, F4
- CIK
- 0002057060
- Portfolio Value
- $5.9B (Q4 2025)
- SEC Filing
- 0002057060-26-000001 ↗ filed Jan 27, 2026
Holdings Value
Holdings 643 stocks · $5.9B
| NVDA Nvidia Corp. | 7.88% | 2,471,909 | $461.0M | Reduce -0.3% |
| AAPL Apple Inc. | 6.93% | 1,490,633 | $405.2M | Reduce -2.0% |
| MSFT Microsoft Corp. | 5.93% | 717,210 | $346.9M | Reduce -5.1% |
| GOOG Alphabet Inc. Class C | 4.58% | 853,836 | $267.9M | Add +13.4% |
| AMZN Amazon.com Inc. | 4.56% | 1,155,772 | $266.8M | Reduce -1.0% |
| AVGO Broadcom Inc. | 3.61% | 610,896 | $211.4M | Reduce -26.2% |
| TSLA Tesla Inc. | 3.54% | 460,224 | $207.0M | Add +18.7% |
| META Meta Platforms Inc. Class A | 3.42% | 303,107 | $200.1M | Add +11.6% |
| LITE Lumentum Holdings Inc. | 2.62% | 415,245 | $153.1M | Add +2.5% |
| GOOGL Alphabet Inc. Class A | 2.44% | 456,989 | $143.0M | Reduce -6.4% |
| PDD PDD Holdings Inc. | 1.98% | 1,019,069 | $115.6M | Add +28.5% |
| SNDK Sandisk Corp. | 1.92% | 472,863 | $112.2M | Add +17.4% |
| MU Micron Technology Inc. | 1.52% | 311,543 | $88.9M | Add +6.1% |
| COST Costco Wholesale Corp. | 1.50% | 101,433 | $87.5M | Add +5.9% |
| PLTR Palantir Technologies Inc. Class A | 1.47% | 483,920 | $86.0M | Add +6.6% |
| NFLX Netflix Inc. | 1.43% | 893,795 | $83.8M | Add +2.9% |
| AMD Advanced Micro Devices | 1.33% | 362,381 | $77.6M | Reduce -6.5% |
| TER Teradyne Inc. | 1.16% | 350,137 | $67.8M | New |
| CSCO Cisco Systems Inc. | 1.10% | 833,419 | $64.2M | Add +6.9% |
| PM Philip Morris International | 1.01% | 368,854 | $59.2M | Add +1.8% |
| APP AppLovin Corp. Class A | 0.96% | 83,760 | $56.4M | Add +13.0% |
| SHOP Shopify Inc. Class A | 0.85% | 307,697 | $49.5M | Add +33.5% |
| TMUS T-Mobile US Inc. | 0.82% | 235,931 | $47.9M | Add +4.3% |
| ISRG Intuitive Surgical Inc. | 0.82% | 84,577 | $47.9M | Add +5.9% |
| LRCX Lam Research Corp. | 0.78% | 266,539 | $45.6M | Add +4.6% |
| CIEN Ciena Corp. | 0.77% | 191,980 | $44.9M | Add +67.6% |
| AMGN Amgen Inc. | 0.75% | 134,415 | $44.0M | Add +4.8% |
| AMAT Applied Materials Inc. | 0.74% | 168,039 | $43.2M | Add +5.1% |
| LIN Linde PLC | 0.72% | 99,130 | $42.3M | Add +5.0% |
| QCOM Qualcomm Inc. | 0.71% | 242,403 | $41.5M | Add +10.8% |
| PEP Pepsico Inc. | 0.71% | 288,418 | $41.4M | Add +7.4% |
| INTU Intuit Inc. | 0.67% | 59,089 | $39.1M | Add +5.6% |
| GILD Gilead Sciences Inc. | 0.66% | 313,078 | $38.4M | Add +4.9% |
| SNPS Synopsys Inc. | 0.64% | 79,984 | $37.6M | Reduce -8.8% |
| INTC Intel Corp. | 0.64% | 1,009,205 | $37.2M | Add +19.5% |
| ADBE Adobe Inc. | 0.63% | 105,329 | $36.9M | Add +23.8% |
| BKNG Booking Holdings Inc. | 0.63% | 6,853 | $36.7M | Add +4.9% |
| TSEM Tower Semiconductor Ltd. | 0.62% | 308,412 | $36.2M | Add +26835.5% |
| CEG Constellation Energy | 0.60% | 98,952 | $35.0M | Reduce -8.5% |
| KLAC KLA Corp. | 0.58% | 27,715 | $33.7M | Add +5.2% |
| PANW Palo Alto Networks Inc. | 0.57% | 181,902 | $33.5M | Add +11.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.57% | 109,821 | $33.4M | Add +149.0% |
| TXN Texas Instruments Inc. | 0.57% | 191,659 | $33.3M | Add +5.9% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.52% | 65,477 | $30.7M | Add +8.6% |
| VRTX Vertex Pharmaceuticals Inc. | 0.51% | 65,411 | $29.7M | Add +4.2% |
| ADI Analog Devices Inc. | 0.48% | 103,285 | $28.0M | Add +4.5% |
| COP Conocophillips | 0.47% | 294,434 | $27.6M | Reduce -2.4% |
| HON Honeywell International Inc. | 0.45% | 133,919 | $26.1M | Add +4.6% |
| LLY Eli Lilly & Co. | 0.43% | 23,237 | $25.0M | Reduce -1.7% |
| MELI MercadoLibre Inc. | 0.40% | 11,562 | $23.3M | Add +5.4% |
| CMCSA Comcast Corp. Class A | 0.39% | 766,628 | $22.9M | Add +3.4% |
| REGN Regeneron Pharmaceuticals | 0.38% | 29,111 | $22.5M | Add +1.4% |
| HOOD Robinhood Markets Inc. Class A | 0.38% | 194,887 | $22.0M | Reduce -49.5% |
| ADP Automatic Data Processing | 0.38% | 85,312 | $21.9M | Add +5.5% |
| CDNS Cadence Design SYS Inc. | 0.37% | 69,654 | $21.8M | Reduce -19.4% |
| STX Seagate Technology Holdings | 0.35% | 75,137 | $20.7M | Add +25.6% |
| TLN Talen Energy Corp. | 0.35% | 54,043 | $20.3M | Reduce -15.9% |
| SBUX Starbucks Corp. | 0.35% | 239,853 | $20.2M | Add +6.0% |
| ASML ASML Holding NV-NY Reg SHS | 0.34% | 18,506 | $19.8M | Add +6.3% |
| DASH DoorDash Inc. Class A | 0.33% | 85,710 | $19.4M | Add +12.7% |
| ABNB Airbnb Inc. Class A | 0.31% | 134,709 | $18.3M | Add +4.3% |
| NOW ServiceNow Inc. | 0.30% | 115,960 | $17.8M | Reduce -20.9% |
| MAR Marriott International Class A | 0.30% | 56,604 | $17.6M | Add +3.8% |
| ORLY O'reilly Automotive Inc. | 0.28% | 178,050 | $16.2M | Add +4.6% |
| MNST Monster Beverage Corp. | 0.27% | 209,012 | $16.0M | Add +7.6% |
| CTAS Cintas Corp. | 0.27% | 84,767 | $15.9M | Add +5.4% |
| FANG Diamondback Energy Inc. | 0.26% | 102,820 | $15.5M | Reduce -0.9% |
| MRVL Marvell Technology Inc. | 0.26% | 181,846 | $15.5M | Add +5.9% |
| WBD Warner Bros Discovery Inc. | 0.26% | 522,688 | $15.1M | Add +6.1% |
| MDLZ Mondelez International Inc. Class A | 0.25% | 272,180 | $14.7M | Add +5.5% |
| CSX CSX Corp. | 0.24% | 392,788 | $14.2M | Add +5.0% |
| EOG EOG Resources Inc. | 0.23% | 128,505 | $13.5M | Reduce -1.5% |
| ADSK Autodesk Inc. | 0.23% | 44,718 | $13.2M | Add +4.9% |
| AEP American Electric Power | 0.23% | 114,224 | $13.2M | Add +7.4% |
| IDXX Idexx Laboratories Inc. | 0.22% | 19,010 | $12.9M | Add +4.3% |
| ROST Ross Stores Inc. | 0.22% | 70,245 | $12.7M | Add +7.3% |
| JNJ Johnson & Johnson | 0.21% | 60,720 | $12.6M | Reduce -9.0% |
| BE Bloom Energy Corp. Class A | 0.21% | 143,664 | $12.5M | Reduce -77.9% |
| FTNT Fortinet Inc. | 0.21% | 156,860 | $12.5M | Add +2.9% |
| TRI Thomson Reuters Corp. | 0.21% | 93,832 | $12.4M | Add +14.4% |
| AZN Astrazeneca PLC-Spons ADR | 0.21% | 134,597 | $12.4M | Add +3.7% |
| GLW Corning Inc. | 0.21% | 141,000 | $12.3M | New |
| PSX Phillips 66 | 0.21% | 95,217 | $12.3M | Reduce -2.3% |
| PCAR Paccar Inc. | 0.21% | 110,783 | $12.1M | Add +6.0% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.21% | 30,462 | $12.1M | Add +989.1% |
| RKLB Rocket Lab Corp. | 0.20% | 171,209 | $11.9M | Add +1.3% |
| NBIS Nebius Group NV | 0.20% | 139,184 | $11.7M | Reduce -56.9% |
| NXPI NXP Semiconductors NV | 0.20% | 53,087 | $11.5M | Add +5.5% |
| PYPL PayPal Holdings Inc. | 0.20% | 197,361 | $11.5M | Add +1.9% |
| ABBV Abbvie Inc. | 0.19% | 47,747 | $10.9M | Reduce -1.9% |
| EA Electronic Arts Inc. | 0.18% | 52,756 | $10.8M | Add +5.6% |
| WDC Western Digital Corp. | 0.18% | 59,919 | $10.3M | Reduce -8.1% |
| VST Vistra Corp. | 0.18% | 63,709 | $10.3M | Add +0.8% |
| ROP Roper Technologies Inc. | 0.17% | 22,704 | $10.1M | Add +6.0% |
| FER Ferrovial NV | 0.17% | 154,774 | $10.0M | New |
| TTWO Take-Two Interactive Softwre | 0.17% | 38,976 | $10.0M | Add +7.4% |
| UNH Unitedhealth Group Inc. | 0.17% | 29,614 | $9.8M | Reduce -20.4% |
| FAST Fastenal Co. | 0.17% | 242,159 | $9.7M | Add +6.0% |
| WDAY Workday Inc. Class A | 0.16% | 44,929 | $9.6M | Add +4.4% |
| BKR Baker Hughes Co. | 0.16% | 210,125 | $9.6M | Add +6.5% |
Portfolio Sells Q3 2025 → Q4 2025
| AVGO Broadcom Inc. | Reduce -26.2% | 3.61% | −1.34 |
| MSFT Microsoft Corp. | Reduce -5.1% | 5.93% | −1.17 |
| BE Bloom Energy Corp. Class A | Reduce -77.9% | 0.21% | −0.78 |
| HOOD Robinhood Markets Inc. Class A | Reduce -49.5% | 0.38% | −0.63 |
| NVDA Nvidia Corp. | Reduce -0.3% | 7.88% | −0.51 |
| SAP Sap SE-Sponsored ADR | Reduce -75.0% | 0.13% | −0.48 |
| NBIS Nebius Group NV | Reduce -56.9% | 0.20% | −0.46 |
| BIDU Baidu Inc. - Spon ADR | Sold out | 0.00% | −0.39 |
| ALAB Astera Labs Inc. | Reduce -80.8% | 0.04% | −0.20 |
| XPEV Xpeng Inc. - ADR | Reduce -99.6% | 0.00% | −0.20 |
| NOW ServiceNow Inc. | Reduce -20.9% | 0.30% | −0.19 |
| CDNS Cadence Design SYS Inc. | Reduce -19.4% | 0.37% | −0.18 |
| CELH Celsius Holdings Inc. | Reduce -40.8% | 0.14% | −0.18 |
| CRWV Coreweave Inc. Class A | Reduce -11.7% | 0.13% | −0.17 |
| TLN Talen Energy Corp. | Reduce -15.9% | 0.35% | −0.15 |
| SNPS Synopsys Inc. | Reduce -8.8% | 0.64% | −0.14 |
| RMBS Rambus Inc. | Reduce -81.3% | 0.03% | −0.14 |
| NVO Novo-Nordisk A/S-Spons ADR | Sold out | 0.00% | −0.12 |
| AAPL Apple Inc. | Reduce -2.0% | 6.93% | −0.10 |
| MPC Marathon Petroleum Corp. | Reduce -22.3% | 0.16% | −0.10 |
| AMZN Amazon.com Inc. | Reduce -1.0% | 4.56% | −0.09 |
| FUTU Futu Holdings Ltd.-ADR | Reduce -98.5% | 0.00% | −0.09 |
| DUOL Duolingo | Reduce -51.1% | 0.03% | −0.09 |
| RBLX Roblox Corp. Class A | Reduce -9.5% | 0.08% | −0.08 |
| TTD Trade Desk Inc./the Class A | Sold out | 0.00% | −0.08 |
| CDW CDW Corp. | Sold out | 0.00% | −0.08 |
| ON On Semiconductor | Sold out | 0.00% | −0.07 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.07 |
| BIIB Biogen Inc. | Reduce -81.1% | 0.02% | −0.07 |
| GFS Globalfoundries Inc. | Sold out | 0.00% | −0.07 |
| UNH Unitedhealth Group Inc. | Reduce -20.4% | 0.17% | −0.07 |
| OPEN Opendoor Technologies Inc. | Reduce -3.2% | 0.13% | −0.07 |
| HIMS Hims & Hers Health Inc. | Reduce -60.5% | 0.02% | −0.06 |
| SE Sea Ltd.-ADR | Reduce -45.1% | 0.03% | −0.06 |
| VLO Valero Energy Corp. | Reduce -25.4% | 0.10% | −0.05 |
| CEG Constellation Energy | Reduce -8.5% | 0.60% | −0.05 |
| COP Conocophillips | Reduce -2.4% | 0.47% | −0.05 |
| CHTR Charter Communications Inc. Class A | Reduce -2.4% | 0.10% | −0.04 |
| SPOT Spotify Technology SA | Reduce -54.9% | 0.02% | −0.04 |
| DG Dollar General Corp. | Reduce -59.2% | 0.04% | −0.04 |
| BZ Kanzhun Ltd. - ADR | Reduce -9.4% | 0.11% | −0.04 |
| EOG EOG Resources Inc. | Reduce -1.5% | 0.23% | −0.03 |
| PSX Phillips 66 | Reduce -2.3% | 0.21% | −0.03 |
| ATHM Autohome Inc.-ADR | Sold out | 0.00% | −0.03 |
| VIPS Vipshop Holdings Ltd. - ADR | Reduce -16.4% | 0.07% | −0.03 |
| JOYY Joyy Inc.-ADR | Sold out | 0.00% | −0.02 |
| QFIN Qfin Holdings Inc.-ADR | Reduce -4.4% | 0.03% | −0.02 |
| IQ Iqiyi Inc.-ADR | Sold out | 0.00% | −0.02 |
| ABBV Abbvie Inc. | Reduce -1.9% | 0.19% | −0.02 |
| EQT Eqt Corp. | Reduce -7.0% | 0.11% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| LITE Lumentum Holdings Inc. | Add +2.5% | 2.62% | +1.42 |
| GOOG Alphabet Inc. Class C | Add +13.4% | 4.58% | +1.25 |
| TER Teradyne Inc. | New | 1.16% | +1.16 |
| SNDK Sandisk Corp. | Add +17.4% | 1.92% | +1.10 |
| MU Micron Technology Inc. | Add +6.1% | 1.52% | +0.63 |
| TSEM Tower Semiconductor Ltd. | Add +26835.5% | 0.62% | +0.62 |
| CIEN Ciena Corp. | Add +67.6% | 0.77% | +0.46 |
| TSLA Tesla Inc. | Add +18.7% | 3.54% | +0.41 |
| TSM Taiwan Semiconductor-SP ADR | Add +149.0% | 0.57% | +0.35 |
| SHOP Shopify Inc. Class A | Add +33.5% | 0.85% | +0.23 |
| GLW Corning Inc. | New | 0.21% | +0.21 |
| ALNY Alnylam Pharmaceuticals Inc. | Add +989.1% | 0.21% | +0.18 |
| ISRG Intuitive Surgical Inc. | Add +5.9% | 0.82% | +0.17 |
| FER Ferrovial NV | New | 0.17% | +0.17 |
| LRCX Lam Research Corp. | Add +4.6% | 0.78% | +0.16 |
| MPWR Monolithic Power Systems Inc. | New | 0.16% | +0.16 |
| AMAT Applied Materials Inc. | Add +5.1% | 0.74% | +0.14 |
| CSCO Cisco Systems Inc. | Add +6.9% | 1.10% | +0.13 |
| MP MP Materials Corp. | New | 0.12% | +0.12 |
| INTC Intel Corp. | Add +19.5% | 0.64% | +0.12 |
| INSM Insmed Inc. | Add +828.5% | 0.13% | +0.11 |
| CSIQ Canadian Solar Inc. | New | 0.11% | +0.11 |
| STX Seagate Technology Holdings | Add +25.6% | 0.35% | +0.10 |
| AMGN Amgen Inc. | Add +4.8% | 0.75% | +0.10 |
| REGN Regeneron Pharmaceuticals | Add +1.4% | 0.38% | +0.09 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +17217.2% | 0.09% | +0.09 |
| ADBE Adobe Inc. | Add +23.8% | 0.63% | +0.09 |
| AMKR Amkor Technology Inc. | New | 0.08% | +0.08 |
| WBD Warner Bros Discovery Inc. | Add +6.1% | 0.26% | +0.08 |
| PDD PDD Holdings Inc. | Add +28.5% | 1.98% | +0.07 |
| VRTX Vertex Pharmaceuticals Inc. | Add +4.2% | 0.51% | +0.06 |
| KLAC KLA Corp. | Add +5.2% | 0.58% | +0.06 |
| V Visa Inc. Class A | Add +1222.5% | 0.06% | +0.06 |
| RKLB Rocket Lab Corp. | Add +1.3% | 0.20% | +0.06 |
| GILD Gilead Sciences Inc. | Add +4.9% | 0.66% | +0.06 |
| DIS The Walt Disney Co. | New | 0.05% | +0.05 |
| QCOM Qualcomm Inc. | Add +10.8% | 0.71% | +0.05 |
| MAR Marriott International Class A | Add +3.8% | 0.30% | +0.04 |
| ADI Analog Devices Inc. | Add +4.5% | 0.48% | +0.04 |
| MNST Monster Beverage Corp. | Add +7.6% | 0.27% | +0.04 |
| ROST Ross Stores Inc. | Add +7.3% | 0.22% | +0.04 |
| ASML ASML Holding NV-NY Reg SHS | Add +6.3% | 0.34% | +0.03 |
| AZN Astrazeneca PLC-Spons ADR | Add +3.7% | 0.21% | +0.03 |
| ABNB Airbnb Inc. Class A | Add +4.3% | 0.31% | +0.03 |
| CTSH Cognizant Tech Solutions-A | Add +3.7% | 0.14% | +0.03 |
| PEP Pepsico Inc. | Add +7.4% | 0.71% | +0.02 |
| MRK Merck & Co. Inc. | Add +2.7% | 0.13% | +0.02 |
| PCAR Paccar Inc. | Add +6.0% | 0.21% | +0.02 |
| MLI Mueller Industries Inc. | New | 0.01% | +0.01 |
| CTRA Coterra Energy Inc. | Add +8.1% | 0.11% | +0.01 |
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 |