§ 13F · FUND PROFILE
National Pension Service.
Korean national pension, long-term
AUM · $128.8B (13F)Positions · 552Turnover · 97% · Q1Filed · May 12, 2026
CONCENTRATION
34%
Top 10 holdings
NEW BUYS
+20
+$79M deployed
EXITS
0
No exits
SECTOR SHIFT
TECHNOLOGY → OTHER
-2pp · +3pp
3YR HIT RATE
—
Top-5 overlap
§ 01 · TOP HOLDINGS
The book · Q1 2026
FILED MAY 12, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q1 |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORPORATION | 51.27M | $8.9B | 6.8% | +2% |
| 2 | AAPL | APPLE INC | 31.02M | $7.9B | 6.0% | +3% |
| 3 | MSFT | MICROSOFT CORP | 14.92M | $5.5B | 4.2% | +3% |
| 4 | AMZN | AMAZON COM INC | 20.44M | $4.3B | 3.2% | +3% |
| 5 | GOOGL | ALPHABET INC | 12.79M | $3.7B | 2.8% | +3% |
| 6 | PBUS | INVESCO EXCH TRADED FD TR II | 47.38M | $3.1B | 2.3% | ±0% |
| 7 | GOOG | ALPHABET INC | 10.61M | $3.0B | 2.3% | +2% |
| 8 | AVGO | BROADCOM INC | 9.38M | $2.9B | 2.2% | +3% |
| 9 | IVV | ISHARES TR | 4.12M | $2.7B | 2.0% | ±0% |
| 10 | META | META PLATFORMS INC | 4.70M | $2.7B | 2.0% | +2% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other42.1% (+3pp)
Technology15.3% (−2pp)
Semiconductors13.6% (±0)
Media8.8% (±0)
Retail7.2% (±0)
Financial Services5.4% (±0)
§ 03 · THE NATIONAL SIGNAL
AC read
National Pension Service is a Income / Defensive fund managing $128.8 billion in assets. The fund runs a broad portfolio of 552 positions, broad diversification across holdings, with the top 10 accounting for 34%. Trading activity is aggressive at 97% quarterly turnover, with 20 new positions and 0 exits last quarter. Top sector allocations: Other (42%), Technology (15%), Semiconductors (14%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
2 FILINGS
Q1 2026
Busy quarter
+20 buys · −0 exits · 524 changed
Q4 2025
Busy quarter
+25 buys · −0 exits · 528 changed
Q3 2025
Busy quarter
+36 buys · −0 exits · 501 changed
Q2 2025
Active book
+2 buys · −0 exits · 492 changed