42 A-share firms with Q3 2026 reports show long-term funds among top-10 float holders

The appearance of social security, pension and QFI money in top-10 float lists is a rare, verifiable window into how patient capital actually positions itself, and this early slice suggests a barbell: quality sub-sector leaders on one side, idiosyncratic small- and mid-caps on the other. That mix implies long-term funds were willing to look past headline volatility rather than retreat to safety, which matters for how smaller names get priced when disclosure is thin. Whether this barbell persists as more third-quarter reports land is the open question.