National Pension Service

Pension

CIK

1608046

Location

JEONJU-SI, JEOLLABUK-DO, M5

Portfolio Value

Mega $117,476,057,325

Diversification

Diversified

Filing Date

Global Rank

#69 / 8,603 ▼ 1 · as of Mar 2026

Top Industry

Semiconductors 13.5%

3Y Alpha vs SPY

-1.9%

Period ended 3 months ago

Filed May 12, 2026 · 58d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+67.7%

SPY

+76.0%

Annualised alpha

-1.9%

Max drawdown

−19.0%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

548 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

7.6%

−0.1 pts

Top 5

25.8%

−1.6 pts

Top 10

35.1%

−2.5 pts

HHI

190

Diversified−19

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	34.7%	$40,793,062,145	104
Financial Services	12.2%	$14,345,551,341	79
Healthcare	10.3%	$12,054,161,428	61
Consumer Cyclical	10.2%	$11,927,879,419	58
Communication Services	8.8%	$10,365,226,838	27
Industrials	8.8%	$10,365,024,455	82
Consumer Defensive	5.5%	$6,490,375,802	32
Energy	2.9%	$3,454,533,752	21
Utilities	2.5%	$2,887,674,474	30
Basic Materials	2.0%	$2,408,229,673	23
Real Estate	2.0%	$2,329,419,080	30
Unclassified	0.0%	$54,918,918	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
PCG	PG&E Corp	+1,461,030	5,029,333	$88,365,380
F	Ford Motor Co	+1,311,357	9,683,482	$111,747,382
NVDA	Nvidia Corp	+1,167,483	51,274,183	$8,942,217,515
HPQ	Hp Inc	+1,011,288	3,720,120	$71,463,505
PFE	Pfizer Inc	+910,106	14,349,288	$402,928,007
AAPL	Apple Inc.	+824,459	31,019,702	$7,872,490,170
WBD	Warner Bros. Discovery, Inc.	+728,867	6,562,430	$180,204,327
VICI	Vici Properties Inc.	+665,135	3,232,517	$88,312,364
CMCSA	Comcast Corp	+626,446	10,358,164	$297,382,888
AMZN	Amazon Com Inc	+599,005	20,442,324	$4,257,522,819
INTC	Intel Corp	+489,742	10,203,663	$450,287,648
EQT	EQT Corp	+485,084	1,374,973	$87,503,281
EIX	Edison International	+469,085	1,173,947	$85,909,441
KDP	Keurig Dr Pepper Inc.	+434,747	2,476,673	$65,210,800
SLB	Slb Limited/Nv	+424,689	2,576,371	$132,399,705
SCHW	Schwab Charles Corp	+424,464	4,484,110	$421,416,657
MSFT	Microsoft Corp	+408,580	14,917,409	$5,521,977,289
PLTR	Palantir Technologies Inc.	+400,311	5,184,024	$758,319,030
PANW	Palo Alto Networks Inc	+397,297	2,151,333	$344,901,706
HAL	Halliburton Co	+386,958	1,907,778	$74,384,264
KEY	Keycorp /New/	+373,359	614,211	$12,314,930
USB	US Bancorp De	+327,665	4,010,770	$208,600,147
BAC	Bank Of America Corp /De/	+326,294	15,490,057	$755,140,278
GOOGL	Alphabet Inc.	+324,727	12,793,377	$3,678,863,490
GPN	Global Payments Inc	+321,126	382,895	$25,768,833
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
TEVA	Teva Pharmaceutical Industries Ltd	−1,206,902	2,293,656	$69,084,918
GEN	Gen Digital Inc.	−862,140	72,752	$1,369,920
EQH	Equitable Holdings, Inc.	−533,897	24,885	$923,482
BAX	Baxter International Inc	−502,453	34,732	$583,497
T	At&T Inc.	−485,938	17,404,803	$504,565,238
VST	Vistra Corp.	−367,605	422,715	$63,546,745
NRG	Nrg Energy, Inc.	−300,365	303,281	$44,321,485
GLPI	Gaming & Leisure Properties, Inc.	−286,869	22,715	$1,007,864
WDC	Western Digital Corp	−253,697	1,437,962	$388,954,341
DVN	Devon Energy Corp/De	−246,074	1,158,891	$58,315,395
AMRZ	Amrize Ltd	−234,168	1,389,060	$77,815,141
KHC	Kraft Heinz Co	−233,713	460,091	$10,347,446
CMG	Chipotle Mexican Grill Inc	−223,756	2,114,096	$67,672,212
CNC	Centene Corp	−213,574	207,415	$6,790,767
SMCI	Super Micro Computer, Inc.	−203,482	34,236	$779,553
HPE	Hewlett Packard Enterprise Co	−197,186	3,664,449	$87,250,530
ETR	Entergy Corp /De/	−195,664	548,768	$61,659,572
MU	Micron Technology Inc	−175,714	2,876,052	$971,645,407
SSNC	SS&C Technologies Holdings Inc	−173,221	40,367	$2,727,598
STX	Seagate Technology Holdings plc	−169,462	827,761	$324,283,649
FITB	Fifth Third Bancorp	−165,437	1,070,239	$49,723,303
CRH	Crh Public Ltd Co	−160,323	1,908,363	$200,607,118
SE	Sea Ltd	−153,709	550,618	$45,596,676
APP	AppLovin Corp	−144,958	558,327	$222,214,146
KKR	KKR & Co. Inc.	−136,694	1,384,566	$128,072,355
No positions match the current search.

New Positions

Positions the filer opened this quarter

20 positions

Ticker	Company	Shares	Value
RPRX	Royalty Pharma plc	742,440	$35,614,846
AMCR	Amcor plc	499,227	$19,844,273
LITE	Lumentum Holdings Inc.	4,000	$2,811,040
OKTA	Okta, Inc.	35,636	$2,804,909
SOLV	Solventum Corp	37,011	$2,416,818
COHR	Coherent Corp.	8,719	$2,076,952
NBIS	Nebius Group N.V.	15,530	$1,611,392
AFRM	Affirm Holdings, Inc.	33,385	$1,529,700
CASY	Caseys General Stores Inc	2,083	$1,516,132
FTAI	FTAI Aviation Ltd.	5,850	$1,433,250
CW	Curtiss Wright Corp	2,079	$1,416,048
ENTG	Entegris Inc	11,450	$1,342,398
ASTS	AST SpaceMobile, Inc.	12,699	$1,052,366
ECHO	EchoStar CORP	8,985	$1,051,873
NLY	Annaly Capital Management Inc	37,614	$795,536
SNAP	Snap Inc	130,370	$599,702
OKLO	Oklo Inc.	10,423	$516,876
COO	Cooper Companies, Inc.	5,589	$399,613
HRL	Hormel Foods Corp /De/	16,918	$383,192
MNDY	monday.com Ltd.	2,856	$197,378
No positions match the current search.

Sold Out

Positions the filer fully exited

17 positions

Ticker	Company	Shares	Value
MRSH	Marsh & Mclennan Companies, Inc.	1,140,767	$211,635,093
DKS	Dick's Sporting Goods, Inc.	27,648	$5,473,474
DOCU	Docusign, Inc.	61,797	$4,226,914
SJM	J M SMUCKER Co	17,397	$1,701,600
NTNX	Nutanix, Inc.	30,047	$1,553,129
PAYC	Paycom Software, Inc.	7,111	$1,133,208
BXP	BXP, Inc.	16,621	$1,121,585
ARE	Alexandria Real Estate Equities, Inc.	16,851	$824,687
MKC	Mccormick & Co Inc	9,330	$635,466
AMH	American Homes 4 Rent	18,274	$586,595
DT	Dynatrace, Inc.	11,394	$493,815
RIVN	Rivian Automotive, Inc. / DE	21,240	$418,640
FG	F&G Annuities & Life, Inc.	6,340	$195,589
ELS	Equity Lifestyle Properties Inc	2,969	$179,951
AFG	American Financial Group Inc	1,183	$161,692
WIX	Wix.com Ltd.	562	$58,386
BSY	Bentley Systems Inc	880	$33,585
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

548 positions · $117,476,057,325 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 548 positions by value · page 1 of 11

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NVDA	Nvidia Corp Technology	Added	51,274,183	+1,167,483	$8,942,217,515	−4.3%	7.61%
AAPL	Apple Inc. Technology	Added	31,019,702	+824,459	$7,872,490,170	−4.1%	6.70%
MSFT	Microsoft Corp Technology	Added	14,917,409	+408,580	$5,521,977,289	−21.3%	4.70%
AMZN	Amazon Com Inc Consumer Cyclical	Added	20,442,324	+599,005	$4,257,522,819	−7.0%	3.62%
GOOGL	Alphabet Inc. Communication Services	Added	12,793,377	+324,727	$3,678,863,490	−5.7%	3.13%
AVGO	Broadcom Inc. Technology	Added	9,382,706	+265,522	$2,904,041,334	−8.0%	2.47%
META	Meta Platforms, Inc. Communication Services	Added	4,695,451	+87,681	$2,686,408,380	−11.7%	2.29%
TSLA	Tesla, Inc. Consumer Cyclical	Added	5,890,660	+217,883	$2,189,852,855	−14.2%	1.86%
JPM	Jpmorgan Chase & Co Financial Services	Added	5,513,297	+104,307	$1,621,791,445	−6.9%	1.38%
LLY	ELI LILLY & Co Healthcare	Added	1,661,226	+45,579	$1,527,945,838	−12.0%	1.30%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	2,732,608	+76,998	$1,309,465,753	−1.9%	1.11%
JNJ	Johnson & Johnson Healthcare	Added	5,159,484	+168,958	$1,261,184,268	+22.1%	1.07%
WMT	Walmart Inc. Consumer Defensive	Added	9,969,043	+156,582	$1,238,952,664	+13.3%	1.05%
V	Visa Inc. Financial Services	Added	3,398,829	+102,099	$1,027,262,076	−11.2%	0.87%
MU	Micron Technology Inc Technology	Reduced	2,876,052	-175,714	$971,645,407	+11.6%	0.83%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	933,576	+14,383	$930,243,133	+17.4%	0.79%
CVX	Chevron Corp Energy	Added	4,479,333	+119,123	$926,773,997	+39.5%	0.79%
NFLX	Netflix Inc Communication Services	Added	9,455,919	+83,848	$909,186,611	+3.5%	0.77%
MA	Mastercard Inc Financial Services	Added	1,721,463	+39,291	$860,146,202	−10.4%	0.73%
ABBV	AbbVie Inc. Healthcare	Added	3,949,697	+92,966	$859,019,600	−2.5%	0.73%
PG	PROCTER & GAMBLE Co Consumer Defensive	Added	5,471,690	+67,479	$790,330,903	+2.0%	0.67%
PLTR	Palantir Technologies Inc. Technology	Added	5,184,024	+400,311	$758,319,030	−10.8%	0.65%
BAC	Bank Of America Corp /De/ Financial Services	Added	15,490,057	+326,294	$755,140,278	−9.5%	0.64%
CSCO	Cisco Systems, Inc. Technology	Added	9,622,922	+90,941	$746,642,517	+1.7%	0.64%
AMD	Advanced Micro Devices Inc Technology	Added	3,551,712	+120,353	$722,524,772	−1.7%	0.62%
HD	Home Depot, Inc. Consumer Cyclical	Added	2,189,543	+51,981	$720,118,797	−2.1%	0.61%
LRCX	Lam Research Corp Technology	Added	3,364,610	+52,415	$718,882,572	+26.8%	0.61%
KO	Coca Cola Co Consumer Defensive	Added	9,287,778	+182,138	$706,335,516	+11.0%	0.60%
CAT	Caterpillar Inc Industrials	Added	988,716	+9,708	$700,465,737	+24.9%	0.60%
MRK	Merck & Co., Inc. Healthcare	Reduced	5,762,086	-27,338	$693,121,324	+13.7%	0.59%
GE	General Electric Co Industrials	Added	2,390,708	+16,022	$678,411,209	−7.3%	0.58%
AMAT	Applied Materials Inc /De Technology	Added	1,952,288	+16,634	$667,272,515	+34.1%	0.57%
PM	Philip Morris International Inc. Consumer Defensive	Added	3,612,916	+25,619	$597,359,531	+3.8%	0.51%
LIN	Linde PLC Basic Materials	Added	1,199,655	+1,091	$594,740,962	+16.4%	0.51%
WFC	Wells Fargo & Company/Mn Financial Services	Added	7,322,564	+38,656	$582,949,320	−14.1%	0.50%
GS	Goldman Sachs Group Inc Financial Services	Added	674,837	+14,769	$570,905,353	−1.6%	0.49%
ORCL	Oracle Corp Technology	Added	3,774,444	+101,523	$555,258,456	−22.4%	0.47%
IBM	International Business Machines Corp Technology	Added	2,285,117	+17,454	$553,889,509	−17.5%	0.47%
RTX	RTX Corp Industrials	Added	2,827,989	+66,450	$545,519,078	+7.7%	0.46%
VZ	Verizon Communications Inc Communication Services	Added	10,585,296	+259,712	$531,381,859	+26.4%	0.45%
UNH	Unitedhealth Group Inc Healthcare	Added	1,947,305	+26,907	$526,921,259	−16.9%	0.45%
T	At&T Inc. Communication Services	Reduced	17,404,803	-485,938	$504,565,238	+13.5%	0.43%
MCD	Mcdonalds Corp Consumer Cyclical	Added	1,615,265	+57,917	$502,008,209	+5.5%	0.43%
PEP	Pepsico Inc Consumer Defensive	Added	3,231,009	+87,070	$501,743,387	+11.2%	0.43%
MS	Morgan Stanley Financial Services	Added	2,952,417	+123,114	$485,879,265	−3.3%	0.41%
GEV	GE Vernova Inc. Industrials	Added	548,367	+75,097	$478,669,554	+54.8%	0.41%
NEE	Nextera Energy Inc Utilities	Added	5,097,519	+215,410	$473,457,564	+20.8%	0.40%
C	Citigroup Inc Financial Services	Added	4,051,107	+75,689	$459,436,044	−1.0%	0.39%
INTC	Intel Corp Technology	Added	10,203,663	+489,742	$450,287,648	+25.6%	0.38%
AMGN	Amgen Inc Healthcare	Added	1,273,889	+34,340	$448,217,844	+10.5%	0.38%