Against the backdrop of optimizing the layout of the stateowned economy and fostering the development of new productive forces, exploring the role of stateowned enterprise (SOE) shareholding as a key form of ‘patient capital in enabling SOEs to focus on their core businesses holds significant contemporary value and significance. Based on a research sample of stateowned enterprises listed on the Shanghai and Shenzhen Ashare markets from 2015 to 2023, this study examines the impact of ‘national team’ shareholding on stateowned enterprises focus on their core businesses. The findings reveal that “national team” shareholding has significantly promoted stateowned enterprises focus on their core businesses, with this impact being more pronounced in commercial state owned enterprises, central stateowned enterprises, situations where there are high expectations for executive promotions, and scenarios with lower levels of equity checks and balances. Mechanism testing results indicate that the “national teams” shareholding can promote SOEs focus on their core businesses by leveraging its burdenreduction optimization effect and governance optimization effect. When breaking down shareholding types, it was found that shareholdings by the China Securities Finance Corporation, the Central Huijin Investment Co., Ltd., and the China Securities Financial Asset Management Plan can promote SOEs focus on their core businesses to varying degrees. Further analysis shows that the “national teams” shareholding can enhance core competitiveness and value growth by promoting SOEs focus on their core businesses. The above research conclusions provide a new perspective for understanding the “national team” as an important “patient capital”, offering significant insights for advancing strategic adjustments to stateowned capital and deepening stateowned enterprise reforms.