§ 13F · FUND PROFILE
National Pension Service.
Korean national pension, long-term
AUM · $155.1B (13F)Positions · 552Turnover · 98% · Q2Filed · Aug 13, 2026
CONCENTRATION
34%
Top 10 holdings
NEW BUYS
+19
+$1.4B deployed
EXITS
0
No exits
SECTOR SHIFT
OTHER → SEMICONDUCTORS
-3pp · +5pp
§ 01 · TOP HOLDINGS
The book · Q2 2026
FILED AUG 13, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q2 |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORPORATION | 50.83M | $10.2B | 6.6% | −1% |
| 2 | AAPL | APPLE INC | 31.52M | $9.1B | 5.9% | +2% |
| 3 | MSFT | MICROSOFT CORP | 15.24M | $5.7B | 3.7% | +2% |
| 4 | AMZN | AMAZON COM INC | 20.97M | $5.0B | 3.2% | +3% |
| 5 | GOOGL | ALPHABET INC | 13.10M | $4.7B | 3.0% | +2% |
| 6 | GOOG | ALPHABET INC | 10.55M | $3.7B | 2.4% | −1% |
| 7 | AVGO | BROADCOM INC | 9.61M | $3.6B | 2.3% | +2% |
| 8 | PBUS | INVESCO EXCH TRADED FD TR II | 47.38M | $3.5B | 2.3% | ±0% |
| 9 | MU | MICRON TECHNOLOGY INC | 2.89M | $3.3B | 2.1% | ±0% |
| 10 | IVV | ISHARES TR | 4.12M | $3.1B | 2.0% | ±0% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other39.0% (−3pp)
Semiconductors18.1% (+5pp)
Technology15.2% (±0)
Media8.4% (±0)
Retail6.6% (−1pp)
Financial Services5.0% (±0)
§ 03 · THE NATIONAL SIGNAL
AC read
National Pension Service is a Income / Defensive fund managing $155.1 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 98% quarterly turnover, with 19 new positions and 0 exits last quarter. Top sector allocations: Other (39%), Semiconductors (18%), Technology (15%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
4 OF 2 FILINGS MEASURED
Q2 2026
Busy quarter
+19 buys · −0 exits · 524 changed
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