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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
ADBE icon
76
Adobe
ADBE
$102B
$378M 0.28%
1,081,384
+129,647
+14% +$44.1M
ADI icon
77
Analog Devices
ADI
$188B
$367M 0.27%
1,354,027
+6,492
+0.5% +$1.63M
GILD icon
78
Gilead Sciences
GILD
$168B
$367M 0.27%
2,990,660
-379,983
-11% -$46.2M
UBER icon
79
Uber
UBER
$154B
$365M 0.27%
4,471,651
+32,230
+0.7% +$2.9M
COF icon
80
Capital One
COF
$136B
$362M 0.27%
1,491,607
-61,129
-4% -$13.6M
BSX icon
81
Boston Scientific
BSX
$74.7B
$359M 0.27%
3,761,615
+296,409
+9% +$29.1M
CB icon
82
Chubb
CB
$133B
$358M 0.27%
1,148,474
+225,515
+24% +$65.9M
INTC icon
83
Intel
INTC
$515B
$358M 0.27%
9,713,921
-233,730
-2% -$8.83M
WELL icon
84
Welltower
WELL
$165B
$356M 0.26%
1,918,528
+226,597
+13% +$42.3M
TXN icon
85
Texas Instruments
TXN
$254B
$355M 0.26%
2,048,051
+100,708
+5% +$17.2M
PLD icon
86
Prologis
PLD
$133B
$349M 0.26%
2,737,711
+294,574
+12% +$36.7M
BA icon
87
Boeing
BA
$183B
$341M 0.25%
1,572,206
+43,983
+3% +$9.05M
BLK icon
88
Blackrock
BLK
$179B
$341M 0.25%
318,324
+11,425
+4% +$12.5M
NEM icon
89
Newmont
NEM
$125B
$339M 0.25%
3,396,860
-957,404
-22% -$86.5M
PFE icon
90
Pfizer
PFE
$150B
$335M 0.25%
13,439,182
+498,289
+4% +$12.6M
DHR icon
91
Danaher
DHR
$146B
$333M 0.25%
1,453,086
+6,725
+0.5% +$1.48M
MCK icon
92
McKesson
MCK
$103B
$326M 0.24%
397,064
+9,608
+2% +$7.84M
PANW icon
93
Palo Alto Networks
PANW
$313B
$323M 0.24%
1,754,036
+28,936
+2% +$5.84M
GM icon
94
General Motors
GM
$76.4B
$317M 0.24%
3,903,579
+1,720,384
+79% +$121M
SPOT icon
95
Spotify
SPOT
$99.6B
$316M 0.23%
+544,640
New +$340M
LOW icon
96
Lowe's Companies
LOW
$122B
$315M 0.23%
1,306,381
+19,599
+2% +$4.71M
PH icon
97
Parker-Hannifin
PH
$135B
$310M 0.23%
352,582
+57,680
+20% +$47.2M
GEV icon
98
GE Vernova
GEV
$277B
$309M 0.23%
473,270
-17,164
-3% -$10.5M
COP icon
99
ConocoPhillips
COP
$152B
$306M 0.23%
3,265,028
+27,942
+0.9% +$2.53M
UNP icon
100
Union Pacific
UNP
$174B
$305M 0.23%
1,316,496
+15,785
+1% +$3.6M
2 3
4
5 6

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Neuberger Berman Group
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Fidelity International
Fidelity International Hamilton, Bermuda $129B AUM 30.83% 1-Year Est. Return
Primecap Management
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Two Sigma Investments
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Schroder Investment Management Group
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T. Rowe Price Investment Management
T. Rowe Price Investment Management Baltimore, Maryland $145B AUM 22.78% 1-Year Est. Return
VAM
Vanguard Asset Management London, Ec4n 8af $117B AUM

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.