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National Pension Service Portfolio holdings
AUM
$132B
1-Year Est. Return
28.96%
This Fund
S&P 500
This Quarter
Est. Return
+9.87%
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
$129B
AUM Growth
+$12.9B
(+11%)
Cap. Flow
+$3.75B
Cap. Flow
% of AUM
2.91%
Top 10 Holdings %
Top 10 Hldgs %
35.68%
Holding
570
New
36
Increased
494
Reduced
7
Closed
18
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$526M |
| 2 |
INFO
Harbor PanAgora Dynamic Large Cap Core ETF
INFO
|
+$505M |
| 3 |
T. Rowe Price Growth Stock ETF
TGRW
|
+$505M |
| 4 |
LSVD
LSV Disciplined Value ETF
LSVD
|
+$487M |
| 5 |
Microsoft
MSFT
|
+$318M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco MSCI USA ETF
PBUS
|
+$1.5B |
| 2 |
HES
Hess
HES
|
+$51M |
| 3 |
ANSS
Ansys
ANSS
|
+$48.7M |
| 4 |
Viatris
VTRS
|
+$17.3M |
| 5 |
RAL
Ralliant Corp
RAL
|
+$8.43M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 33.05% |
| 2 | Financials | 11.75% |
| 3 | Communication Services | 10.09% |
| 4 | Consumer Discretionary | 10.03% |
| 5 | Healthcare | 8.54% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
General Dynamics
GD
$107B
| $201M | 0.16% |
589,187
+16,931
| +3% | +$5.34M |
|
152
Vertex Pharmaceuticals
VRTX
$133B
| $201M | 0.16% |
512,113
+14,313
| +3% | +$5.98M |
|
153
CSX Corp
CSX
$92.8B
| $200M | 0.16% |
5,635,837
+124,688
| +2% | +$4.26M |
|
154
Waste Management
WM
$90.4B
| $198M | 0.15% |
896,092
+17,316
| +2% | +$3.9M |
|
155
Cigna
CI
$73.3B
| $197M | 0.15% |
683,751
+21,203
| +3% | +$6.27M |
|
156
PayPal
PYPL
$50.6B
| $192M | 0.15% |
2,855,897
+51,268
| +2% | +$3.61M |
|
157
AutoZone
AZO
$49.7B
| $190M | 0.15% |
44,302
+671
| +2% | +$2.69M |
|
158
Sherwin-Williams
SHW
$87.4B
| $190M | 0.15% |
547,503
+8,530
| +2% | +$3.01M |
|
159
DoorDash
DASH
$92.1B
| $189M | 0.15% |
694,111
+7,655
| +1% | +$1.92M |
|
160
Motorola Solutions
MSI
$77.7B
| $189M | 0.15% |
412,344
+9,129
| +2% | +$4.11M |
|
161
Fortinet
FTNT
$118B
| $187M | 0.15% |
2,223,198
+50,861
| +2% | +$4.54M |
|
162
Workday
WDAY
$43.3B
| $187M | 0.15% |
775,629
+7,176
| +0.9% | +$1.66M |
|
163
KKR & Co
KKR
$99.6B
| $186M | 0.14% |
1,430,212
+43,070
| +3% | +$6.11M |
|
164
Emerson Electric
EMR
$91.4B
| $184M | 0.14% |
1,399,800
+34,882
| +3% | +$4.76M |
|
165
NXP Semiconductors
NXPI
$58.8B
| $183M | 0.14% |
801,609
+15,929
| +2% | +$3.58M |
|
166
US Bancorp
USB
$101B
| $179M | 0.14% |
3,694,785
+85,719
| +2% | +$4.05M |
|
167
Elevance Health
ELV
$86.5B
| $178M | 0.14% |
550,197
+13,802
| +3% | +$4.29M |
|
168
Moody's
MCO
$82.8B
| $177M | 0.14% |
370,862
+10,090
| +3% | +$5.09M |
|
169
Illinois Tool Works
ITW
$83.3B
| $177M | 0.14% |
677,446
+14,997
| +2% | +$3.91M |
|
170
Marvell Technology
MRVL
$195B
| $177M | 0.14% |
2,099,621
+26,145
| +1% | +$1.92M |
|
171
Norfolk Southern
NSC
$75.3B
| $175M | 0.14% |
581,261
+12,089
| +2% | +$3.36M |
|
172
Republic Services
RSG
$65.6B
| $174M | 0.14% |
758,644
+9,041
| +1% | +$2.12M |
|
173
Quanta Services
PWR
$102B
| $174M | 0.13% |
418,930
+3,701
| +0.9% | +$1.44M |
|
174
Aflac
AFL
$60.5B
| $172M | 0.13% |
1,540,224
+32,198
| +2% | +$3.38M |
|
175
Cintas
CTAS
$81.5B
| $171M | 0.13% |
833,249
+16,862
| +2% | +$3.6M |
|
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National Pension Service's Q3 2025 Portfolio in Review
As of Q3 2025, National Pension Service held 570 positions worth $129B, up 11% from $116B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
National Pension Service's Q3 2025 filing shows 36 new, 494 increased, 7 reduced and 18 closed positions. Its largest new stake was LSV Disciplined Value ETF: 18,162,000 shares worth $511M. The largest sale was Invesco MSCI USA ETF, an estimated $1.5B.
By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 32% a quarter earlier, followed by Financials and Communication Services.
- National Pension Service's largest Q3 2025 buy was LSV Disciplined Value ETF: 18,162,000 shares worth $511M.
- National Pension Service added most to NVIDIA in Q3 2025, an estimated $526M increase.
- National Pension Service's biggest Q3 2025 reduction was Invesco MSCI USA ETF, cutting an estimated $1.5B.
- National Pension Service fully exited Hess in Q3 2025, selling an estimated $51M.
- National Pension Service's ten largest holdings make up 36% of its $129B portfolio in Q3 2025.
- National Pension Service opened 36 new positions and closed 18 in Q3 2025.
- National Pension Service's portfolio value rose 11% quarter-over-quarter to $129B.
Based on National Pension Service's 13F filing for Q3 2025, filed 4 Nov 2025.