§ 13F · FUND PROFILE
National Pension Service.
Korean national pension, long-term
AUM · $115829.8T (13F)Positions · 534Turnover · 99% · Q4Filed · Feb 10, 2026
CONCENTRATION
36%
Top 10 holdings
NEW BUYS
+25
+$1209.3T deployed
EXITS
0
No exits
SECTOR SHIFT
TECHNOLOGY → MEDIA
-1pp · +1pp
3YR HIT RATE
—
Top-5 overlap
§ 01 · TOP HOLDINGS
The book · Q4 2025
FILED FEB 10, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q4 |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORPORATION | 50.11M | $9344.9T | 6.9% | +1% |
| 2 | AAPL | APPLE INC | 30.20M | $8208.9T | 6.1% | +2% |
| 3 | MSFT | MICROSOFT CORP | 14.51M | $7016.8T | 5.2% | +2% |
| 4 | AMZN | AMAZON COM INC | 19.84M | $4580.2T | 3.4% | +5% |
| 5 | GOOGL | ALPHABET INC | 12.47M | $3902.7T | 2.9% | +4% |
| 6 | GOOG | ALPHABET INC | 10.39M | $3261.1T | 2.4% | +2% |
| 7 | PBUS | INVESCO EXCH TRADED FD TR II PURBTA MSCI US | 47.38M | $3243.3T | 2.4% | ±0% |
| 8 | AVGO | BROADCOM INC | 9.12M | $3155.5T | 2.3% | +3% |
| 9 | META | META PLATFORMS INC | 4.61M | $3041.5T | 2.3% | +3% |
| 10 | IVV | ISHARES TR | 4.12M | $2821.8T | 2.1% | ±0% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other39.6% (±0)
Technology17.4% (−1pp)
Semiconductors13.3% (±0)
Media9.2% (+1pp)
Retail7.1% (±0)
Financial Services5.9% (±0)
§ 03 · THE NATIONAL SIGNAL
AC read
National Pension Service is a Income / Defensive fund managing $115829794.5 trillion in assets. The fund runs a broad portfolio of 534 positions, broad diversification across holdings, with the top 10 accounting for 36%. Trading activity is aggressive at 99% quarterly turnover, with 25 new positions and 0 exits last quarter. Top sector allocations: Other (40%), Technology (17%), Semiconductors (13%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
1 FILINGS
Q4 2025
Busy quarter
+25 buys · −0 exits · 528 changed
Q3 2025
Steady book
+0 buys · −0 exits · 0 changed
Q2 2025
Steady book
+0 buys · −0 exits · 0 changed
Q1 2025
Steady book
+0 buys · −0 exits · 0 changed