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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
PG icon
26
Procter & Gamble
PG
$338B
$774M 0.57%
5,404,211
+374,064
+7% +$55.2M
HD icon
27
Home Depot
HD
$353B
$736M 0.54%
2,137,562
+71,286
+3% +$26.1M
AMD icon
28
Advanced Micro Devices
AMD
$774B
$735M 0.54%
3,431,359
+54,322
+2% +$12.2M
CSCO icon
29
Cisco
CSCO
$475B
$734M 0.54%
9,531,981
+208,757
+2% +$15.5M
GE icon
30
GE Aerospace
GE
$382B
$731M 0.54%
2,374,686
-16,995
-0.7% -$5.12M
TGRW icon
31
T. Rowe Price Growth Stock ETF
TGRW
$1.03B
$728M 0.54%
15,814,477
– –
ORCL icon
32
Oracle
ORCL
$419B
$716M 0.53%
3,672,921
+221,706
+6% +$52.8M
WFC icon
33
Wells Fargo
WFC
$264B
$679M 0.5%
7,283,908
+648,512
+10% +$56.3M
IBM icon
34
IBM
IBM
$225B
$672M 0.5%
2,267,663
+26,550
+1% +$7.95M
CVX icon
35
Chevron
CVX
$386B
$665M 0.49%
4,360,210
+419,539
+11% +$63.9M
KO icon
36
Coca-Cola
KO
$372B
$637M 0.47%
9,105,640
+217,403
+2% +$15.2M
UNH icon
37
UnitedHealth
UNH
$361B
$634M 0.47%
1,920,398
+43,624
+2% +$14.8M
MRK icon
38
Merck
MRK
$322B
$609M 0.45%
5,789,424
+82,039
+1% +$7.7M
INFO
39
Harbor PanAgora Dynamic Large Cap Core ETF
INFO
$866M
$602M 0.45%
24,565,625
– –
GS icon
40
Goldman Sachs
GS
$301B
$580M 0.43%
660,068
-5,726
-0.9% -$4.67M
PM icon
41
Philip Morris
PM
$290B
$575M 0.43%
3,587,297
-223,217
-6% -$34.6M
LRCX icon
42
Lam Research
LRCX
$390B
$567M 0.42%
3,312,195
-205,851
-6% -$32M
CAT icon
43
Caterpillar
CAT
$388B
$561M 0.42%
979,008
-46,248
-5% -$25.7M
CRM icon
44
Salesforce
CRM
$162B
$555M 0.41%
2,094,148
-113,042
-5% -$28.1M
LSVD
45
LSV Disciplined Value ETF
LSVD
$668M
$540M 0.4%
18,162,000
– –
LIN icon
46
Linde
LIN
$226B
$511M 0.38%
1,198,564
+231,048
+24% +$99M
RTX icon
47
RTX Corp
RTX
$302B
$506M 0.38%
2,761,539
-46,745
-2% -$8.12M
ABT icon
48
Abbott
ABT
$190B
$504M 0.37%
4,023,071
+457,277
+13% +$58.3M
MS icon
49
Morgan Stanley
MS
$338B
$502M 0.37%
2,829,303
+163,227
+6% +$27.2M
AMAT icon
50
Applied Materials
AMAT
$417B
$497M 0.37%
1,935,654
-322,036
-14% -$77.2M
1
2
3 4 5

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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.