Data shows that as of the end of the fourth quarter of 2024, northbound funds held a total of 3,383 stocks, with a total holding of approximately 123.74 billion shares and a total holding size of approximately 2.21 trillion yuan. From a full-year perspective, northbound funds have increased their total market value of holdings by approximately 210 billion yuan compared to the end of 2023. Data on heavily-weighted stocks show that northbound funds' holdings are still dominated by leading stocks in core assets. As of the end of the fourth quarter of 2024, CATL was the number one heavily-weighted stock of northbound funds, followed by Kweichow Moutai, Midea Group, China Merchants Bank, and Yangtze Power. It is worth noting that as of the end of the third quarter of 2024, the number one heavily-weighted stock of northbound funds was still Kweichow Moutai.