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National Pension Service
The National Pension Service (NPS) is a public pension fund established to help secure the retirement benefits of Korean citizens, providing income security in cases of retirement, disability, or death. It invests across global and domestic equities, fixed income, and alternative investments including private equity, real estate, and hedge funds, aiming for long-term, risk-adjusted returns with a well-diversified global portfolio.
Investment Strategy
The NPS invests in a diversified portfolio including global equity (35.9%), domestic equity (14.9%), domestic fixed income (26.5%), global fixed income (8%), and alternative investments (14.7%) such as private equity, venture capital, real estate, and hedge funds. It emphasizes overseas exposure and seeks to pursue the best investment opportunities worldwide.
Latest 13F Filing Activity
National Pension Service filed their most recent 13F report on Jun 30, 2025 disclosing 530 equity positions with a total 13F market value of $116B. The fund increased holdings in Nvidia Corporation, Microsoft Corp., Broadcom Inc. among other positions. National Pension Service reduced exposure to Apple Inc., Unitedhealth Group Inc., CRH PLC among others.
Top Holdings
Equity Positions (530)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
N NVDA | NVIDIA CORPORATION | 6.35% | $7.35B | 46,535,267 | $29.92 | $157.99 | +$2.19B |
M MSFT | MICROSOFT CORP | 5.87% | $6.80B | 13,664,645 | $187.24 | $497.41 | +$1.67B |
A AAPL | APPLE INC | 5.10% | $5.91B | 28,813,985 | $89.67 | $205.17 | -$439.9M |
P PBUS | INVESCO EXCH TRADED FD TR II | 3.79% | $4.39B | 70,631,785 | $42.80 | $62.18 | +$435.1M |
A AMZN | AMAZON COM INC | 3.48% | $4.03B | 18,352,886 | $103.07 | $219.39 | +$609.4M |
Industry Allocation
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