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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
MSI icon
176
Motorola Solutions
MSI
$77.7B
$179M 0.13%
468,255
+55,911
+14% +$22.5M
HLT icon
177
Hilton Worldwide
HLT
$72.6B
$179M 0.13%
623,622
+442
+0.1% +$120K
NKE icon
178
Nike
NKE
$60.1B
$179M 0.13%
2,810,149
-308,940
-10% -$20.1M
TDG icon
179
TransDigm Group
TDG
$68.3B
$176M 0.13%
132,680
-30,175
-19% -$39.6M
ITW icon
180
Illinois Tool Works
ITW
$83.3B
$172M 0.13%
696,533
+19,087
+3% +$4.76M
DASH icon
181
DoorDash
DASH
$92.1B
$171M 0.13%
756,003
+61,892
+9% +$14.5M
CTAS icon
182
Cintas
CTAS
$81.4B
$171M 0.13%
907,155
+73,906
+9% +$13.9M
WBD icon
183
Warner Bros
WBD
$69.3B
$168M 0.12%
5,833,563
+2,094,220
+56% +$48.9M
AON icon
184
Aon
AON
$74.7B
$167M 0.12%
472,500
+52,077
+12% +$18.2M
TFC icon
185
Truist Financial
TFC
$64.3B
$165M 0.12%
3,345,645
-35,570
-1% -$1.64M
NSC icon
186
Norfolk Southern
NSC
$75.3B
$162M 0.12%
561,647
-19,614
-3% -$5.67M
PCAR icon
187
PACCAR
PCAR
$69B
$161M 0.12%
1,472,711
+533,565
+57% +$54.7M
AZO icon
188
AutoZone
AZO
$49.7B
$153M 0.11%
45,107
+805
+2% +$3.04M
MPC icon
189
Marathon Petroleum
MPC
$97.8B
$144M 0.11%
885,426
+36,158
+4% +$6.76M
SNOW icon
190
Snowflake
SNOW
$115B
$144M 0.11%
655,686
+32,325
+5% +$7.89M
AJG icon
191
Arthur J. Gallagher & Co
AJG
$65.5B
$132M 0.1%
508,412
+30,784
+6% +$8.15M
VST icon
192
Vistra
VST
$49.2B
$128M 0.09%
790,320
-405,473
-34% -$73.9M
APO icon
193
Apollo Global Management
APO
$81.9B
$126M 0.09%
869,139
+101,697
+13% +$13.5M
TDVG icon
194
T. Rowe Price Dividend Growth ETF
TDVG
$1.45B
$124M 0.09%
2,762,617
– –
LNG icon
195
Cheniere Energy
LNG
$55.4B
$122M 0.09%
628,756
+31,794
+5% +$6.68M
PWR icon
196
Quanta Services
PWR
$102B
$112M 0.08%
265,994
-152,936
-37% -$67.2M
F icon
197
Ford
F
$55.1B
$110M 0.08%
8,372,125
+273,065
+3% +$3.52M
TEVA icon
198
Teva Pharmaceuticals
TEVA
$42.8B
$109M 0.08%
3,500,558
+1,427,265
+69% +$35.2M
CVNA icon
199
Carvana
CVNA
$79.7B
$107M 0.08%
1,270,565
+305,980
+32% +$22.7M
VRT icon
200
Vertiv
VRT
$111B
$105M 0.08%
646,261
-14,687
-2% -$2.55M
6 7
8
9 10

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Fidelity International
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Primecap Management
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Two Sigma Investments
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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.