NAN SHAN LIFE INSURANCE CO., LTD.

Filed: 11/14/2025ACC: 0000950103-25-014722

📋 What this filing means

NAN SHAN LIFE INSURANCE CO., LTD. filed this quarterly 13F‑HR report disclosing 103 equity positions with a total reported market value of $4.71B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

103

Positions

$4.71B

Total AUM (reported)

61.53M

Total Shares

Allocation by class

COM$2.38B50.5%

20 YR TR BD ETF$357.27M7.6%

PORTFOLIO LN TSR$295.29M6.3%

LONG TERM TREAS$174.19M3.7%

CL A$153.76M3.3%

CAP STK CL A$151.72M3.2%

COM NEW$125.57M2.7%

Portfolio Concentration

Top 3$826.75M17.6%

4–10$932.56M19.8%

11–25$1.22B25.8%

Rest$1.73B36.8%

Top 3 weight

17.6%

Top 10 weight

37.4%

Voting Authority Distribution

Total shares with voting rights: 67.75M

Sole

Full voting authority

64.25M

% of voting shares94.8%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

3.50M

% of voting shares5.2%

Investment Discretion (by position count)

Sole103

Shared0

Other0

Dominant voting typeSole · 94.8% of voting shares

Institutional Holdings103

Rows:

ISHARES TR

SOLE

20 YR TR BD ETF

Shares4M

TypeSH

Market value$357.27M

7.59%

Sole

Shared

0.00

None

0.00

SPDR SERIES TRUST

SOLE

PORTFOLIO LN TSR

Shares10.96M

TypeSH

Market value$295.29M

6.27%

Sole

10.96M

Shared

0.00

None

0.00

VANGUARD SCOTTSDALE FDS

SOLE

LONG TERM TREAS

Shares3.06M

TypeSH

Market value$174.19M

3.70%

Sole

0.00

Shared

0.00

None

3.06M

APPLE INC

SOLE

COM

Shares624.47K

TypeSH

Market value$159.01M

3.38%

Sole

624.47K

Shared

0.00

None

0.00

ALPHABET INC

SOLE

CAP STK CL A

Shares624.09K

TypeSH

Market value$151.72M

3.22%

Sole

624.09K

Shared

0.00

None

0.00

MICROSOFT CORP

SOLE

COM

Shares270.29K

TypeSH

Market value$140.00M

2.97%

Sole

270.29K

Shared

0.00

None

0.00

VERIZON COMMUNICATIONS INC

SOLE

COM

Shares2.91M

TypeSH

Market value$127.79M

2.71%

Sole

2.91M

Shared

0.00

None

0.00

QUALCOMM INC

SOLE

COM

Shares753.74K

TypeSH

Market value$125.39M

2.66%

Sole

753.74K

Shared

0.00

None

0.00

REALTY INCOME CORP

SOLE

COM

Shares1.90M

TypeSH

Market value$115.22M

2.45%

Sole

1.90M

Shared

0.00

None

0.00

VISA INC

SOLE

COM CL A

Shares332.32K

TypeSH

Market value$113.45M

2.41%

Sole

332.32K

Shared

0.00

None

0.00

ISHARES TR

SOLE

IBOXX HI YD ETF

Shares1.28M

TypeSH

Market value$104.30M

2.22%

Sole

1.28M

Shared

0.00

None

0.00

SELECT SECTOR SPDR TR

SOLE

SBI HEALTHCARE

Shares724.85K

TypeSH

Market value$100.88M

2.14%

Sole

724.85K

Shared

0.00

None

0.00

SERVICENOW INC

SOLE

COM

Shares102.85K

TypeSH

Market value$94.65M

2.01%

Sole

102.85K

Shared

0.00

None

0.00

NETFLIX INC

SOLE

COM

Shares78.25K

TypeSH

Market value$93.82M

1.99%

Sole

78.25K

Shared

0.00

None

0.00

COSTCO WHSL CORP NEW

SOLE

COM

Shares100.51K

TypeSH

Market value$93.03M

1.98%

Sole

100.51K

Shared

0.00

None

0.00

ADVANCED MICRO DEVICES INC

SOLE

COM

Shares568.59K

TypeSH

Market value$91.99M

1.95%

Sole

568.59K

Shared

0.00

None

0.00

META PLATFORMS INC

SOLE

CL A

Shares124.16K

TypeSH

Market value$91.18M

1.94%

Sole

124.16K

Shared

0.00

None

0.00

NVIDIA CORPORATION

SOLE

COM

Shares417.54K

TypeSH

Market value$77.90M

1.65%

Sole

417.54K

Shared

0.00

None

0.00

INTUITIVE SURGICAL INC

SOLE

COM NEW

Shares171.10K

TypeSH

Market value$76.52M

1.63%

Sole

171.10K

Shared

0.00

None

0.00

DISNEY WALT CO

SOLE

COM

Shares630.49K

TypeSH

Market value$72.19M

1.53%

Sole

630.49K

Shared

0.00

None

0.00

ISHARES TR

SOLE

EXPANDED TECH

Shares627.53K

TypeSH

Market value$72.17M

1.53%

Sole

627.53K

Shared

0.00

None

0.00

PROLOGIS INC.

SOLE

COM

Shares626.94K

TypeSH

Market value$71.80M

1.53%

Sole

626.94K

Shared

0.00

None

0.00

APTIV PLC

SOLE

COM SHS

Shares687.64K

TypeSH

Market value$59.29M

1.26%

Sole

687.64K

Shared

0.00

None

0.00

INVESCO QQQ TR

SOLE

UNIT SER 1

Shares97.22K

TypeSH

Market value$58.37M

1.24%

Sole

97.22K

Shared

0.00

None

0.00

VANECK ETF TRUST

SOLE

SEMICONDUCTR ETF

Shares176.54K

TypeSH

Market value$57.61M

1.22%

Sole

176.54K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
ISHARES TRSOLE	20 YR TR BD ETF	4M	SH	$357.27M 7.59%	4M	0.00
SPDR SERIES TRUSTSOLE	PORTFOLIO LN TSR	10.96M	SH	$295.29M 6.27%	10.96M	0.00
VANGUARD SCOTTSDALE FDSSOLE	LONG TERM TREAS	3.06M	SH	$174.19M 3.70%	0.00	3.06M
APPLE INCSOLE	COM	624.47K	SH	$159.01M 3.38%	624.47K	0.00
ALPHABET INCSOLE	CAP STK CL A	624.09K	SH	$151.72M 3.22%	624.09K	0.00
MICROSOFT CORPSOLE	COM	270.29K	SH	$140.00M 2.97%	270.29K	0.00
VERIZON COMMUNICATIONS INCSOLE	COM	2.91M	SH	$127.79M 2.71%	2.91M	0.00
QUALCOMM INCSOLE	COM	753.74K	SH	$125.39M 2.66%	753.74K	0.00
REALTY INCOME CORPSOLE	COM	1.90M	SH	$115.22M 2.45%	1.90M	0.00
VISA INCSOLE	COM CL A	332.32K	SH	$113.45M 2.41%	332.32K	0.00
ISHARES TRSOLE	IBOXX HI YD ETF	1.28M	SH	$104.30M 2.22%	1.28M	0.00
SELECT SECTOR SPDR TRSOLE	SBI HEALTHCARE	724.85K	SH	$100.88M 2.14%	724.85K	0.00
SERVICENOW INCSOLE	COM	102.85K	SH	$94.65M 2.01%	102.85K	0.00
NETFLIX INCSOLE	COM	78.25K	SH	$93.82M 1.99%	78.25K	0.00
COSTCO WHSL CORP NEWSOLE	COM	100.51K	SH	$93.03M 1.98%	100.51K	0.00
ADVANCED MICRO DEVICES INCSOLE	COM	568.59K	SH	$91.99M 1.95%	568.59K	0.00
META PLATFORMS INCSOLE	CL A	124.16K	SH	$91.18M 1.94%	124.16K	0.00
NVIDIA CORPORATIONSOLE	COM	417.54K	SH	$77.90M 1.65%	417.54K	0.00
INTUITIVE SURGICAL INCSOLE	COM NEW	171.10K	SH	$76.52M 1.63%	171.10K	0.00
DISNEY WALT COSOLE	COM	630.49K	SH	$72.19M 1.53%	630.49K	0.00
ISHARES TRSOLE	EXPANDED TECH	627.53K	SH	$72.17M 1.53%	627.53K	0.00
PROLOGIS INC.SOLE	COM	626.94K	SH	$71.80M 1.53%	626.94K	0.00
APTIV PLCSOLE	COM SHS	687.64K	SH	$59.29M 1.26%	687.64K	0.00
INVESCO QQQ TRSOLE	UNIT SER 1	97.22K	SH	$58.37M 1.24%	97.22K	0.00
VANECK ETF TRUSTSOLE	SEMICONDUCTR ETF	176.54K	SH	$57.61M 1.22%	176.54K	0.00

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