Fund quarterly report confirms "national team" portfolio adjustment, core broad-based fund shares fall.

According to Securities Times, recently, several broad-based ETFs in the A-share market have seen a surge in trading volume and a decrease in shares, sparking speculation about the "national team" adjusting their positions. The latest disclosed quarterly report for public funds in 2025 confirms this speculation. The latest data from the public fund's 2025 quarterly report shows that several "mega-cap" products represented by Huatai Bairui CSI 300 ETF and Huaxia SSE 50 ETF have total shares lower than the holdings of the "national team" main force, Central Huijin, at the end of 2025. This phenomenon clearly indicates that since the beginning of 2026, Central Huijin has significantly reduced holdings of certain broad-based ETFs.