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National Pension Service

National Pension Service Portfolio holdings

AUM $132B
1-Year Est. Return 28.96%
This Fund
S&P 500
This Quarter Est. Return
+4.14%
1 Year Est. Return
+28.96%
3 Year Est. Return
+101.23%
5 Year Est. Return
+136.69%
10 Year Est. Return
+496.6%
AUM
$135B
AUM Growth
+$6.29B
Cap. Flow
+$3.37B
Cap. Flow %
2.5%
Top 10 Hldgs %
35.96%
Holding
577
New
25
Increased
383
Reduced
145
Closed
16

Top Buys

Rank Stock Value
1
SPOT icon
Spotify
SPOT
+$340M
2
CRH icon
CRH
CRH
+$246M
3
AMZN icon
Amazon
AMZN
+$207M
4
STX icon
Seagate
STX
+$194M
5
WDC icon
Western Digital
WDC
+$187M

Top Sells

Rank Stock Value
1
ALL icon
Allstate
ALL
+$99.4M
2
WDAY icon
Workday
WDAY
+$95.1M
3
SE icon
Sea Limited
SE
+$92M
4
PYPL icon
PayPal
PYPL
+$90.3M
5
CEG icon
Constellation Energy
CEG
+$90.1M

Sector Composition

Rank Sector Weight
1 Technology 32.83%
2 Financials 11.69%
3 Communication Services 10.61%
4 Consumer Discretionary 9.77%
5 Healthcare 9.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EIX icon
376
Edison International
EIX
$26.7B
$42.3M 0.03%
704,862
+66,545
+10% +$3.82M
EL icon
377
Estee Lauder
EL
$31.7B
$42.3M 0.03%
403,817
+398,991
+8,268% +$38.7M
IRM icon
378
Iron Mountain
IRM
$37B
$42.2M 0.03%
509,020
+13,540
+3% +$1.27M
FE icon
379
FirstEnergy
FE
$27.2B
$41.6M 0.03%
929,641
+37,502
+4% +$1.72M
WAT icon
380
Waters Corp
WAT
$40.9B
$41.2M 0.03%
108,535
+1,176
+1% +$433K
BR icon
381
Broadridge
BR
$19.3B
$41.1M 0.03%
184,069
+9,578
+5% +$2.18M
DXCM icon
382
DexCom
DXCM
$34.3B
$41.1M 0.03%
618,615
+58,262
+10% +$3.77M
PPL
383
PPL Corp
PPL
$26.7B
$40.8M 0.03%
1,166,196
+125,936
+12% +$4.54M
STZ icon
384
Constellation Brands
STZ
$22.9B
$40.7M 0.03%
295,008
+27,441
+10% +$3.76M
DLTR icon
385
Dollar Tree
DLTR
$24.7B
$40.7M 0.03%
330,759
+315,677
+2,093% +$33.8M
ZS icon
386
Zscaler
ZS
$28.7B
$40.4M 0.03%
179,825
+5,962
+3% +$1.68M
BRO icon
387
Brown & Brown
BRO
$23.8B
$40.1M 0.03%
503,604
+151,373
+43% +$12.6M
ALAB icon
388
Astera Labs
ALAB
$55.3B
$39.2M 0.03%
+235,238
New +$39.4M
CRDO icon
389
Credo Technology Group
CRDO
$50B
$38.8M 0.03%
+269,813
New +$41.5M
ES icon
390
Eversource Energy
ES
$26.9B
$38.6M 0.03%
573,073
+27,798
+5% +$1.95M
HUBB icon
391
Hubbell
HUBB
$27.1B
$38M 0.03%
85,550
+83,725
+4,588% +$36.7M
MDLN
392
Medline Inc
MDLN
$31.1B
$37.8M 0.03%
+900,000
New +$38M
FLEX icon
393
Flex
FLEX
$46B
$37.5M 0.03%
+621,457
New +$38.4M
DTE icon
394
DTE Energy
DTE
$28.9B
$37.2M 0.03%
288,374
+27,808
+11% +$3.78M
ATO icon
395
Atmos Energy
ATO
$28.7B
$37.2M 0.03%
221,670
+12,979
+6% +$2.24M
AEE icon
396
Ameren
AEE
$30.1B
$37.1M 0.03%
371,365
+36,078
+11% +$3.7M
EXE
397
Expand Energy Corp
EXE
$22.3B
$37.1M 0.03%
335,950
+39,309
+13% +$4.36M
CNP icon
398
CenterPoint Energy
CNP
$26.7B
$36.7M 0.03%
956,067
+69,252
+8% +$2.7M
AWK icon
399
American Water Works
AWK
$26.8B
$36.1M 0.03%
276,909
+31,195
+13% +$4.17M
TYL icon
400
Tyler Technologies
TYL
$13B
$30.7M 0.02%
67,568
-75
-0.1% -$35.7K
14 15
16
17 18

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Fidelity International
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Primecap Management
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Two Sigma Investments
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Schroder Investment Management Group
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VAM
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National Pension Service's Q4 2025 Portfolio in Review

As of Q4 2025, National Pension Service held 577 positions worth $135B, up 4.9% from $129B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

National Pension Service's Q4 2025 filing shows 25 new, 383 increased, 145 reduced and 16 closed positions. Its largest new stake was Spotify: 544,640 shares worth $316M. The largest sale was Allstate, an estimated $99.4M.

By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 33% a quarter earlier, followed by Financials and Communication Services.

  • National Pension Service's largest Q4 2025 buy was Spotify: 544,640 shares worth $316M.
  • National Pension Service added most to Amazon in Q4 2025, an estimated $207M increase.
  • National Pension Service's biggest Q4 2025 reduction was Allstate, cutting an estimated $99.4M.
  • National Pension Service fully exited Kellanova in Q4 2025, selling an estimated $41.6M.
  • National Pension Service's ten largest holdings make up 36% of its $135B portfolio in Q4 2025.
  • National Pension Service opened 25 new positions and closed 16 in Q4 2025.
  • National Pension Service's portfolio value rose 4.9% quarter-over-quarter to $135B.

Based on National Pension Service's 13F filing for Q4 2025, filed 10 Feb 2026.