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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
TW icon
526
Tradeweb Markets
TW
$21.9B
$851K ﹤0.01%
7,917
+3,336
+73% +$358K
INVH icon
527
Invitation Homes
INVH
$17.7B
$846K ﹤0.01%
30,435
-918,428
-97% -$25.6M
ARE icon
528
Alexandria Real Estate Equities
ARE
$8.27B
$825K ﹤0.01%
16,851
+7,708
+84% +$454K
CG icon
529
Carlyle Group
CG
$17.2B
$813K ﹤0.01%
13,748
+5,938
+76% +$337K
TRU icon
530
TransUnion
TRU
$15.2B
$790K ﹤0.01%
9,207
+3,528
+62% +$290K
JKHY icon
531
Jack Henry & Associates
JKHY
$10.8B
$789K ﹤0.01%
4,325
+2,166
+100% +$361K
GRAB icon
532
Grab
GRAB
$14.7B
$740K ﹤0.01%
+148,270
New +$819K
WY icon
533
Weyerhaeuser
WY
$17.8B
$736K ﹤0.01%
31,077
-1,088,157
-97% -$25.2M
SUI icon
534
Sun Communities
SUI
$14.4B
$733K ﹤0.01%
5,914
+2,187
+59% +$274K
HEI icon
535
HEICO Corp
HEI
$52.1B
$678K ﹤0.01%
2,096
+704
+51% +$222K
IEX icon
536
IDEX
IEX
$17.7B
$675K ﹤0.01%
3,793
+1,256
+50% +$215K
FFIV icon
537
F5
FFIV
$24B
$673K ﹤0.01%
2,636
+1,710
+185% +$460K
LNT icon
538
Alliant Energy
LNT
$18.2B
$669K ﹤0.01%
10,284
+3,448
+50% +$231K
EVRG icon
539
Evergy
EVRG
$19.2B
$657K ﹤0.01%
9,062
+3,035
+50% +$230K
NDSN icon
540
Nordson
NDSN
$17.3B
$652K ﹤0.01%
2,713
+898
+49% +$211K
MKC icon
541
McCormick & Company Non-Voting
MKC
$14.2B
$635K ﹤0.01%
9,330
-418,092
-98% -$27.8M
NI icon
542
NiSource
NI
$20.1B
$633K ﹤0.01%
15,150
+5,017
+50% +$214K
REG icon
543
Regency Centers
REG
$13.9B
$600K ﹤0.01%
8,692
+2,878
+50% +$202K
GGG icon
544
Graco
GGG
$13.4B
$592K ﹤0.01%
7,217
+2,390
+50% +$197K
AMH icon
545
American Homes 4 Rent
AMH
$12.2B
$587K ﹤0.01%
18,274
+6,052
+50% +$194K
WPC icon
546
W.P. Carey
WPC
$16.1B
$585K ﹤0.01%
9,096
+3,013
+50% +$201K
NWSA icon
547
News Corp Class A
NWSA
$15.5B
$568K ﹤0.01%
21,733
+13,085
+151% +$343K
GPC icon
548
Genuine Parts
GPC
$18.5B
$547K ﹤0.01%
4,449
+1,474
+50% +$191K
IP icon
549
International Paper
IP
$21.8B
$518K ﹤0.01%
13,157
-698,792
-98% -$28.7M
ACM icon
550
Aecom
ACM
$7.85B
$494K ﹤0.01%
5,183
+1,748
+51% +$206K
20 21
22
23 24

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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.