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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
NTNX icon
501
Nutanix
NTNX
$17.5B
$1.55M ﹤0.01%
30,047
+19,484
+184% +$1.19M
ZBRA icon
502
Zebra Technologies
ZBRA
$17.9B
$1.55M ﹤0.01%
6,396
+626
+11% +$167K
DRI icon
503
Darden Restaurants
DRI
$25.9B
$1.53M ﹤0.01%
8,302
-187,397
-96% -$34.2M
UAL icon
504
United Airlines
UAL
$40.6B
$1.51M ﹤0.01%
13,488
+6,836
+103% +$691K
VIPS icon
505
Vipshop
VIPS
$6.94B
$1.51M ﹤0.01%
85,226
-2,087
-2% -$40.2K
FOX icon
506
Fox Class B
FOX
$23.5B
$1.45M ﹤0.01%
22,319
+13,438
+151% +$785K
CHRW icon
507
C.H. Robinson
CHRW
$17.1B
$1.44M ﹤0.01%
8,944
+5,088
+132% +$752K
FUTU icon
508
Futu Holdings
FUTU
$14.7B
$1.34M ﹤0.01%
8,181
+4,925
+151% +$845K
HEI.A icon
509
HEICO Corp Class A
HEI.A
$38B
$1.3M ﹤0.01%
5,133
+2,551
+99% +$630K
TAL icon
510
TAL Education Group
TAL
$6.58B
$1.28M ﹤0.01%
116,953
+8,970
+8% +$102K
BVN icon
511
Compañía de Minas Buenaventura
BVN
$8.79B
$1.25M ﹤0.01%
+45,027
New +$1.12M
JBHT icon
512
JB Hunt Transport Services
JBHT
$25.9B
$1.24M ﹤0.01%
6,368
+3,397
+114% +$583K
PODD icon
513
Insulet
PODD
$10.1B
$1.14M ﹤0.01%
4,008
+2,599
+184% +$813K
PAYC icon
514
Paycom
PAYC
$9.52B
$1.13M ﹤0.01%
7,111
+4,281
+151% +$759K
BXP icon
515
Boston Properties
BXP
$10.8B
$1.12M ﹤0.01%
16,621
+9,510
+134% +$676K
TOST icon
516
Toast
TOST
$19.7B
$1.08M ﹤0.01%
30,403
+19,714
+184% +$711K
MAA icon
517
Mid-America Apartment Communities
MAA
$15.4B
$1.06M ﹤0.01%
7,656
-188,283
-96% -$25.1M
CPAY icon
518
Corpay
CPAY
$26.9B
$1.04M ﹤0.01%
3,455
-97,580
-97% -$28.3M
WSO icon
519
Watsco Inc
WSO
$12.8B
$1M ﹤0.01%
2,982
+1,437
+93% +$513K
CMS icon
520
CMS Energy
CMS
$22B
$989K ﹤0.01%
14,137
-394,883
-97% -$28.7M
STNE icon
521
StoneCo
STNE
$2.43B
$953K ﹤0.01%
+64,424
New +$1.08M
DOC icon
522
Healthpeak Properties
DOC
$14.2B
$921K ﹤0.01%
57,294
+26,659
+87% +$470K
CHD icon
523
Church & Dwight Co
CHD
$24B
$918K ﹤0.01%
10,952
-358,028
-97% -$30.6M
FWONK icon
524
Liberty Media Series C
FWONK
$26B
$871K ﹤0.01%
8,839
+2,927
+50% +$287K
Z icon
525
Zillow
Z
$7.48B
$852K ﹤0.01%
12,492
+5,866
+89% +$425K
19 20
21
22 23

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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.