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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
GD icon
126
General Dynamics
GD
$107B
$249M 0.18%
739,373
+150,186
+25% +$51.2M
SYK icon
127
Stryker
SYK
$133B
$248M 0.18%
706,367
+22,500
+3% +$8.2M
TEL icon
128
TE Connectivity
TEL
$62.2B
$248M 0.18%
1,089,902
+550,727
+102% +$127M
COR icon
129
Cencora
COR
$60.3B
$243M 0.18%
720,381
+42,652
+6% +$14.5M
HWM icon
130
Howmet Aerospace
HWM
$113B
$242M 0.18%
1,179,832
-128,327
-10% -$25.5M
DUK icon
131
Duke Energy
DUK
$96.1B
$241M 0.18%
2,057,991
+7,480
+0.4% +$913K
VRTX icon
132
Vertex Pharmaceuticals
VRTX
$133B
$241M 0.18%
530,841
+18,728
+4% +$8.07M
EQIX icon
133
Equinix
EQIX
$105B
$239M 0.18%
312,330
+13,874
+5% +$10.9M
MRVL icon
134
Marvell Technology
MRVL
$198B
$238M 0.18%
2,796,650
+697,029
+33% +$61M
SPG icon
135
Simon Property Group
SPG
$71.2B
$237M 0.18%
1,281,866
+201,552
+19% +$36.6M
CDNS icon
136
Cadence Design Systems
CDNS
$89B
$235M 0.17%
751,923
+8,051
+1% +$2.63M
ADP icon
137
Automatic Data Processing
ADP
$107B
$234M 0.17%
911,327
+44,989
+5% +$12M
ROST icon
138
Ross Stores
ROST
$79.6B
$234M 0.17%
1,300,056
+754,816
+138% +$126M
ADSK icon
139
Autodesk
ADSK
$52.5B
$234M 0.17%
788,992
+91,038
+13% +$27.5M
CRWD icon
140
CrowdStrike
CRWD
$226B
$233M 0.17%
1,989,900
+49,276
+3% +$6.27M
SHW icon
141
Sherwin-Williams
SHW
$87.8B
$230M 0.17%
708,908
+161,405
+29% +$54M
MELI icon
142
Mercado Libre
MELI
$93.3B
$229M 0.17%
113,535
-11,555
-9% -$24.3M
SBUX icon
143
Starbucks
SBUX
$123B
$227M 0.17%
2,696,899
+125,412
+5% +$10.6M
AEP icon
144
American Electric Power
AEP
$67.6B
$224M 0.17%
1,943,852
+24,410
+1% +$2.88M
TRV icon
145
Travelers Companies
TRV
$77.4B
$224M 0.17%
771,552
+24,669
+3% +$6.94M
HOOD icon
146
Robinhood
HOOD
$85.9B
$223M 0.17%
1,970,461
+329,989
+20% +$42.9M
NOC icon
147
Northrop Grumman
NOC
$82.1B
$216M 0.16%
378,695
-4,342
-1% -$2.52M
MMM icon
148
3M
MMM
$94.9B
$214M 0.16%
1,333,961
+25,903
+2% +$4.24M
CMI icon
149
Cummins
CMI
$88B
$213M 0.16%
416,389
+173,143
+71% +$80.9M
MRSH
150
Marsh
MRSH
$90.3B
$212M 0.16%
1,140,767
+102,933
+10% +$19.2M
4 5
6
7 8

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Fidelity International
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Primecap Management
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Two Sigma Investments
Two Sigma Investments New York $124B AUM 33.93% 1-Year Est. Return
Schroder Investment Management Group
Schroder Investment Management Group London, United Kingdom $122B AUM 29.27% 1-Year Est. Return
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.