National Pension Service
SEC Form 13F institutional filer · CIK 0001608046
13F-HR · 452 reported holdings · 2026-03-31
Public pension fund of South Korea.
Reported long-US-equity value
$124.81B
Top-10 concentration
35.1%
National Pension Service — $125B AUM allocation strategy
National Pension Service files SEC Form 13F and reports $125B of long US equity value across 452 reported holdings for 2026-03-31.
Its largest sector bet is Information Technology 21.0%, followed by Communication Services 7.6% and Consumer Discretionary 5.2%.
The top 10 holdings account for 35% of reported value — a broadly spread portfolio. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
National Pension Service — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$125B
total across 452 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
35% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$PCG +1.46M sh · +$31M+$F +1.31M sh · +$1.91M+$NVDA +1.17M sh · −$403M
Biggest trims (shares)
−$GEN −862K sh · −$24M−$BAX −502K sh · −$9.68M−$T −486K sh · +$60.2M
Exited to nil (held last quarter, gone now)
$MRSH ($212M last qtr)$SJM ($1.7M last qtr)$BXP ($1.12M last qtr)$ARE ($825K last qtr)$MKC ($635K last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Semiconductors10.3%—
- Interactive Media & Services7.6%—
- Technology Hardware, Storage & Peripherals6.3%—
- Systems Software4.4%—
- Broadline Retail3.4%—
- Pharmaceuticals2.2%—
- Automobile Manufacturers1.8%—
- Consumer Staples Merchandise Retail1.7%—
- Other holdings62.3%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
9 of 9 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $NVDA | NVIDIA Corporation | 51.3M | $8.94B | +1.17M | 7.2% |
| $AAPL | Apple Inc | 31M | $7.87B | +824K | 6.3% |
| $MSFT | Microsoft Corporation | 14.9M | $5.52B | +409K | 4.4% |
| $AMZN | Amazon.com Inc | 20.4M | $4.26B | +599K | 3.4% |
| $GOOG | Alphabet Inc. Class C Capital Stock | 12.8M | $3.68B | +325K | 2.9% |
| $GOOGL | Alphabet Inc | 10.6M | $3.04B | +221K | 2.4% |
| $AVGO | Broadcom Inc | 9.38M | $2.9B | +266K | 2.3% |
| $META | Meta Platforms Inc | 4.7M | $2.69B | +87.7K | 2.2% |
| $TSLA | Tesla Inc | 5.89M | $2.19B | +218K | 1.8% |
…and 443 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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