National Pension Service
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), National Pension Service reported 540 stock positions worth $104.0 billion. Its top holding was Apple (AAPL) at 6.1% of the portfolio, followed by Nvidia (NVDA, 5.0%) and Microsoft (MSFT, 4.9%). Compared with Q4 2024, it opened 3 new positions, sold out of 14, added to 408 and reduced 116. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +4%) and the biggest sale Deckers Outdoor (DECK, shares −85%).
- Most Recent 13F
- Q2 2026
- Location
- JEONJU-SI, JEOLLABUK-DO, M5
- CIK
- 0001608046
- Portfolio Value
- $104.0B (Q1 2025)
- SEC Filing
- 0001608046-25-000007 ↗ filed May 13, 2025
Holdings Value
Holdings 540 stocks · $104.0B
| AAPL Apple Inc. | 6.10% | 28,594,491 | $6.4B | Add +5.5% |
| NVDA Nvidia Corp. | 4.97% | 47,675,596 | $5.2B | Add +3.6% |
| MSFT Microsoft Corp. | 4.93% | 13,667,472 | $5.1B | Add +4.2% |
| PBUS Invesco MSCI USA ETF | 3.80% | 70,631,785 | $4.0B | No change |
| AMZN Amazon.com Inc. | 3.28% | 17,959,842 | $3.4B | Add +5.1% |
| META Meta Platforms Inc. Class A | 2.44% | 4,406,766 | $2.5B | Add +4.2% |
| IVV iShares Core S&P 500 ETF | 2.22% | 4,119,355 | $2.3B | No change |
| GOOGL Alphabet Inc. Class A | 1.71% | 11,523,842 | $1.8B | Add +3.3% |
| GOOG Alphabet Inc. Class C | 1.49% | 9,892,036 | $1.5B | Add +2.7% |
| AVGO Broadcom Inc. | 1.43% | 8,908,304 | $1.5B | Add +3.7% |
| TSLA Tesla Inc. | 1.33% | 5,340,691 | $1.4B | Add +3.3% |
| LLY Eli Lilly & Co. | 1.29% | 1,627,597 | $1.3B | Add +4.8% |
| JPM JPMorgan Chase & Co. | 1.23% | 5,199,183 | $1.3B | Add +2.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.22% | 2,386,019 | $1.3B | Add +4.3% |
| V Visa Inc. Class A | 1.01% | 2,996,335 | $1.1B | Add +8.7% |
| XOM Exxon Mobil Corp. | 0.97% | 8,490,353 | $1.0B | Add +1.8% |
| UNH Unitedhealth Group Inc. | 0.92% | 1,830,167 | $958.5M | Add +5.7% |
| MA Mastercard Inc. Class A | 0.83% | 1,576,912 | $864.3M | Add +3.6% |
| WMT Walmart Inc. | 0.79% | 9,313,331 | $817.6M | Add +4.8% |
| COST Costco Wholesale Corp. | 0.78% | 861,645 | $814.9M | Add +4.7% |
| NFLX Netflix Inc. | 0.78% | 869,235 | $810.6M | Add +2.3% |
| PG The Procter & Gamble Co. | 0.78% | 4,754,173 | $810.2M | Add +4.9% |
| JNJ Johnson & Johnson | 0.77% | 4,857,219 | $805.5M | Add +5.9% |
| ABBV Abbvie Inc. | 0.73% | 3,609,835 | $756.3M | Add +5.7% |
| HD Home Depot Inc. | 0.69% | 1,963,349 | $719.5M | Add +5.4% |
| KO The Coca-Cola Co. | 0.63% | 9,151,586 | $655.4M | Add +5.9% |
| PM Philip Morris International | 0.57% | 3,767,679 | $598.0M | Add +5.3% |
| CRM Salesforce Inc. | 0.56% | 2,151,908 | $577.5M | Add +5.1% |
| CSCO Cisco Systems Inc. | 0.55% | 9,304,195 | $574.2M | Add +4.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.54% | 2,243,542 | $557.9M | Add +5.4% |
| CVX Chevron Corp. | 0.54% | 3,328,072 | $556.8M | Add +1.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.52% | 12,970,274 | $541.2M | Add +2.4% |
| MCD McDonald's Corp. | 0.48% | 1,609,631 | $502.8M | Add +5.8% |
| GE General Electric filed as GE AEROSPACE | 0.47% | 2,419,667 | $484.3M | Add +7.3% |
| ABT Abbott Laboratories | 0.46% | 3,604,028 | $478.1M | Add +5.2% |
| ORCL Oracle Corp. | 0.46% | 3,415,594 | $477.5M | Add +5.4% |
| VZ Verizon Communications Inc. | 0.46% | 10,484,923 | $475.6M | Add +6.2% |
| MRK Merck & Co. Inc. | 0.46% | 5,273,483 | $473.3M | Add +6.3% |
| LIN Linde PLC | 0.45% | 1,008,568 | $469.6M | Add +9.3% |
| T AT&T Inc. | 0.44% | 16,291,234 | $460.7M | Add +3.8% |
| WFC Wells Fargo & Co. | 0.44% | 6,409,073 | $460.1M | Add +0.2% |
| PLTR Palantir Technologies Inc. Class A | 0.42% | 5,205,738 | $439.4M | Add +5.3% |
| PEP Pepsico Inc. | 0.41% | 2,877,251 | $431.4M | Add +6.3% |
| ACN Accenture PLC Class A | 0.41% | 1,366,038 | $426.3M | Add +6.0% |
| RTX RTX Corp. | 0.39% | 3,091,510 | $409.5M | Add +8.1% |
| TMO Thermo Fisher Scientific Inc. | 0.38% | 796,154 | $396.2M | Add +6.9% |
| ISRG Intuitive Surgical Inc. | 0.38% | 797,929 | $395.2M | Add +5.8% |
| QCOM Qualcomm Inc. | 0.38% | 2,547,076 | $391.3M | Add +5.0% |
| GILD Gilead Sciences Inc. | 0.37% | 3,473,373 | $389.2M | Add +6.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.37% | 3,899,007 | $384.8M | Add +4.2% |
| PGR Progressive Corp. | 0.37% | 1,354,070 | $383.2M | Add +6.9% |
| TXN Texas Instruments Inc. | 0.35% | 2,023,316 | $363.6M | Add +5.7% |
| INTU Intuit Inc. | 0.35% | 591,336 | $363.1M | Add +5.1% |
| AMGN Amgen Inc. | 0.35% | 1,163,689 | $362.5M | Add +6.4% |
| ADBE Adobe Inc. | 0.34% | 928,524 | $356.1M | Add +5.9% |
| BSX Boston Scientific Corp. | 0.34% | 3,523,142 | $355.4M | Add +5.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.33% | 2,858,614 | $348.2M | Add +5.8% |
| AMD Advanced Micro Devices | 0.33% | 3,322,320 | $341.3M | Add +5.8% |
| NEE Nextera Energy Inc. | 0.33% | 4,769,735 | $338.1M | Add +7.0% |
| GS Goldman Sachs Group Inc. | 0.32% | 613,206 | $335.0M | Add +1.9% |
| TSPA T Rowe Price US Eqy Research | 0.32% | 9,513,375 | $334.5M | No change |
| SPGI S&P Global Inc. | 0.32% | 658,283 | $334.5M | Add +5.0% |
| BKNG Booking Holdings Inc. | 0.32% | 71,467 | $329.2M | Add +3.1% |
| CAT Caterpillar Inc. | 0.32% | 997,577 | $329.0M | Add +8.1% |
| TMUS T-Mobile US Inc. | 0.31% | 1,205,680 | $321.6M | Add +4.0% |
| NOW ServiceNow Inc. | 0.31% | 403,014 | $320.9M | Add +5.0% |
| PFE Pfizer Inc. | 0.31% | 12,618,471 | $319.8M | Add +6.4% |
| CMCSA Comcast Corp. Class A | 0.30% | 8,596,019 | $317.2M | Add +4.4% |
| BLK BlackRock Inc. | 0.30% | 328,234 | $310.7M | Add +4.5% |
| EWP iShares MSCI Spain ETF | 0.30% | 8,092,278 | $308.5M | No change |
| ADP Automatic Data Processing | 0.30% | 1,008,413 | $308.1M | Add +9.1% |
| UBER Uber Technologies Inc. | 0.30% | 4,219,086 | $307.4M | Add +9.4% |
| UNP Union Pacific Corp. | 0.29% | 1,268,048 | $299.6M | Add +9.0% |
| BMY Bristol-Myers Squibb Co. | 0.29% | 4,903,014 | $299.0M | Add +5.0% |
| AXP American Express Co. | 0.29% | 1,111,002 | $298.9M | Add +2.6% |
| HON Honeywell International Inc. | 0.28% | 1,372,988 | $290.7M | Add +9.6% |
| DHR Danaher Corp. | 0.28% | 1,415,437 | $290.2M | Add +6.7% |
| DE Deere & Co. | 0.27% | 608,564 | $285.6M | Add +8.6% |
| LOW Lowe's Cos Inc. | 0.27% | 1,200,949 | $280.1M | Add +6.2% |
| MS Morgan Stanley | 0.27% | 2,399,984 | $280.0M | Add +3.7% |
| AMAT Applied Materials Inc. | 0.27% | 1,911,171 | $277.3M | Add +5.8% |
| C Citigroup Inc. | 0.26% | 3,838,451 | $272.5M | Add +3.2% |
| VRTX Vertex Pharmaceuticals Inc. | 0.26% | 558,929 | $271.0M | Add +6.0% |
| COP Conocophillips | 0.26% | 2,579,023 | $270.8M | Add +8.4% |
| MO Altria Group Inc. | 0.25% | 4,419,256 | $265.2M | Add +4.4% |
| MDT Medtronic PLC | 0.25% | 2,899,050 | $260.5M | Add +6.3% |
| CB Chubb Ltd. | 0.25% | 855,973 | $258.5M | Add +5.1% |
| SO The Southern Co. | 0.25% | 2,780,525 | $255.7M | Add +6.9% |
| SHW The Sherwin-Williams Co. | 0.24% | 728,403 | $254.4M | Add +12.5% |
| SYK Stryker Corp. | 0.24% | 680,271 | $253.2M | Add +4.7% |
| AMT American Tower Corp. | 0.24% | 1,141,275 | $248.3M | Add +8.5% |
| SCHW Schwab (charles) Corp. | 0.24% | 3,147,416 | $246.4M | Add +11.9% |
| ETN Eaton Corp. PLC | 0.24% | 904,313 | $245.8M | Add +8.9% |
| PLD Prologis Inc. | 0.24% | 2,189,737 | $244.8M | Add +8.3% |
| DUK Duke Energy Corp. | 0.23% | 1,997,914 | $243.7M | Add +7.0% |
| MMM 3M Co. | 0.23% | 1,648,582 | $242.1M | Add +8.3% |
| PANW Palo Alto Networks Inc. | 0.23% | 1,416,729 | $241.8M | Add +5.3% |
| MRSH Marsh & McLennan Cos | 0.23% | 978,462 | $238.8M | Add +4.8% |
| MU Micron Technology Inc. | 0.23% | 2,743,110 | $238.3M | Add +5.3% |
| SBUX Starbucks Corp. | 0.23% | 2,420,513 | $237.4M | Add +6.1% |
Portfolio Sells Q4 2024 → Q1 2025
| DECK Deckers Outdoor Corp. | Reduce -84.5% | 0.00% | −0.05 |
| TEVA Teva Pharmaceutical-SP ADR | Reduce -46.3% | 0.02% | −0.04 |
| NTAP Netapp Inc. | Reduce -70.4% | 0.01% | −0.04 |
| ON On Semiconductor | Reduce -96.6% | 0.00% | −0.04 |
| WDC Western Digital Corp. | Reduce -58.9% | 0.01% | −0.03 |
| WST West Pharmaceutical Services | Reduce -99.8% | 0.00% | −0.03 |
| FWONK Liberty Media Corp. Class C | Sold out | 0.00% | −0.03 |
| P Everpure Inc. Class A | Reduce -92.3% | 0.00% | −0.03 |
| ULTA Ulta Beauty Inc. | Sold out | 0.00% | −0.03 |
| ZBRA Zebra Technologies Corp. Class A | Reduce -94.8% | 0.00% | −0.03 |
| ILMN Illumina Inc. | Reduce -87.3% | 0.00% | −0.03 |
| FCNCA First Citizens Bcshs Class A | Reduce -86.9% | 0.00% | −0.03 |
| EME Emcor Group Inc. | Reduce -69.4% | 0.01% | −0.03 |
| TER Teradyne Inc. | Sold out | 0.00% | −0.03 |
| CLX Clorox Company | Reduce -96.5% | 0.00% | −0.03 |
| BURL Burlington Stores Inc. | Reduce -96.6% | 0.00% | −0.03 |
| PODD Insulet Corp. | Sold out | 0.00% | −0.03 |
| LVS Las Vegas Sands Corp. | Sold out | 0.00% | −0.03 |
| CFG Citizens Financial Group | Reduce -87.8% | 0.00% | −0.03 |
| FSLR First Solar Inc. | Reduce -82.9% | 0.00% | −0.03 |
| HUBB Hubbell Inc. | Reduce -99.3% | 0.00% | −0.03 |
| EL Estee Lauder Companies Class A | Reduce -99.8% | 0.00% | −0.03 |
| FDS Factset Research Systems Inc. | Reduce -99.8% | 0.00% | −0.03 |
| LII Lennox International Inc. | Reduce -97.4% | 0.00% | −0.03 |
| PKG Packaging Corp. of America | Reduce -77.2% | 0.01% | −0.03 |
| SNA Snap-on Inc. | Reduce -78.8% | 0.01% | −0.03 |
| BBY Best Buy Co. Inc. | Reduce -82.0% | 0.01% | −0.03 |
| PINS Pinterest Inc. Class A | Reduce -87.6% | 0.00% | −0.03 |
| GEN Gen Digital Inc. | Reduce -60.7% | 0.02% | −0.03 |
| MANH Manhattan Associates Inc. | Reduce -97.8% | 0.00% | −0.03 |
| OMC Omnicom Group | Reduce -80.0% | 0.01% | −0.03 |
| COO The Cooper Cos Inc. | Sold out | 0.00% | −0.03 |
| SWKS Skyworks Solutions Inc. | Reduce -76.9% | 0.01% | −0.03 |
| DG Dollar General Corp. | Reduce -99.4% | 0.00% | −0.03 |
| DKNG Draftkings Inc. Class A | Sold out | 0.00% | −0.03 |
| ENTG Entegris Inc. | Sold out | 0.00% | −0.03 |
| HOLX Hologic Inc. | Reduce -89.3% | 0.00% | −0.03 |
| MDB Mongodb Inc. | Reduce -99.8% | 0.00% | −0.03 |
| APP AppLovin Corp. Class A | Reduce -2.2% | 0.11% | −0.03 |
| AKAM Akamai Technologies Inc. | Reduce -85.6% | 0.00% | −0.03 |
| STX Seagate Technology Holdings | Reduce -61.2% | 0.02% | −0.03 |
| PNR Pentair PLC | Reduce -87.7% | 0.00% | −0.03 |
| KEY Keycorp | Reduce -91.6% | 0.00% | −0.03 |
| TSN Tyson Foods Inc. Class A | Reduce -75.9% | 0.01% | −0.02 |
| LDOS Leidos Holdings Inc. | Reduce -75.9% | 0.01% | −0.02 |
| MOH Molina Healthcare Inc. | Reduce -83.0% | 0.01% | −0.02 |
| APTV Aptiv PLC | Reduce -85.6% | 0.00% | −0.02 |
| ALGN Align Technology Inc. | Reduce -99.8% | 0.00% | −0.02 |
| J Jacobs Solutions Inc. | Reduce -92.3% | 0.00% | −0.02 |
| GPC Genuine Parts Co. | Reduce -99.8% | 0.00% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| BRK.B Berkshire Hathaway Inc. Class B | Add +4.3% | 1.22% | +0.24 |
| V Visa Inc. Class A | Add +8.7% | 1.01% | +0.18 |
| PM Philip Morris International | Add +5.3% | 0.57% | +0.17 |
| LLY Eli Lilly & Co. | Add +4.8% | 1.29% | +0.16 |
| ABBV Abbvie Inc. | Add +5.7% | 0.73% | +0.15 |
| JNJ Johnson & Johnson | Add +5.9% | 0.77% | +0.15 |
| XOM Exxon Mobil Corp. | Add +1.8% | 0.97% | +0.12 |
| KO The Coca-Cola Co. | Add +5.9% | 0.63% | +0.12 |
| GE General Electric | Add +7.3% | 0.47% | +0.11 |
| T AT&T Inc. | Add +3.8% | 0.44% | +0.10 |
| META Meta Platforms Inc. Class A | Add +4.2% | 2.44% | +0.10 |
| IBM Intl Business Machines Corp. | Add +5.4% | 0.54% | +0.09 |
| ABT Abbott Laboratories | Add +5.2% | 0.46% | +0.09 |
| UNH Unitedhealth Group Inc. | Add +5.7% | 0.92% | +0.09 |
| GILD Gilead Sciences Inc. | Add +6.9% | 0.37% | +0.09 |
| PGR Progressive Corp. | Add +6.9% | 0.37% | +0.09 |
| LIN Linde PLC | Add +9.3% | 0.45% | +0.09 |
| CVX Chevron Corp. | Add +1.3% | 0.54% | +0.08 |
| VZ Verizon Communications Inc. | Add +6.2% | 0.46% | +0.08 |
| RTX RTX Corp. | Add +8.1% | 0.39% | +0.08 |
| AMGN Amgen Inc. | Add +6.4% | 0.35% | +0.08 |
| CVS CVS Health Corp. | Add +5.8% | 0.21% | +0.08 |
| UBER Uber Technologies Inc. | Add +9.4% | 0.30% | +0.08 |
| JPM JPMorgan Chase & Co. | Add +2.4% | 1.23% | +0.07 |
| MA Mastercard Inc. Class A | Add +3.6% | 0.83% | +0.07 |
| COST Costco Wholesale Corp. | Add +4.7% | 0.78% | +0.07 |
| PLTR Palantir Technologies Inc. Class A | Add +5.3% | 0.42% | +0.07 |
| TMUS T-Mobile US Inc. | Add +4.0% | 0.31% | +0.07 |
| MCD McDonald's Corp. | Add +5.8% | 0.48% | +0.07 |
| NFLX Netflix Inc. | Add +2.3% | 0.78% | +0.06 |
| PG The Procter & Gamble Co. | Add +4.9% | 0.78% | +0.06 |
| VRTX Vertex Pharmaceuticals Inc. | Add +6.0% | 0.26% | +0.06 |
| BSX Boston Scientific Corp. | Add +5.2% | 0.34% | +0.06 |
| WELL Welltower Inc. | Add +9.1% | 0.23% | +0.06 |
| AMT American Tower Corp. | Add +8.5% | 0.24% | +0.06 |
| CSCO Cisco Systems Inc. | Add +4.3% | 0.55% | +0.05 |
| SE Sea Ltd.-ADR | Add +57.4% | 0.10% | +0.05 |
| DE Deere & Co. | Add +8.6% | 0.27% | +0.05 |
| ELV Elevance Health Inc. | Add +7.6% | 0.22% | +0.05 |
| AJG Arthur J Gallagher & Co. | Add +13.1% | 0.17% | +0.05 |
| CI The Cigna Group | Add +6.2% | 0.21% | +0.05 |
| MMM 3M Co. | Add +8.3% | 0.23% | +0.05 |
| NEM Newmont Corp. | Add +11.2% | 0.15% | +0.05 |
| MO Altria Group Inc. | Add +4.4% | 0.25% | +0.05 |
| MDT Medtronic PLC | Add +6.3% | 0.25% | +0.04 |
| INTC Intel Corp. | Add +9.6% | 0.21% | +0.04 |
| DUK Duke Energy Corp. | Add +7.0% | 0.23% | +0.04 |
| ICE Intercontinental Exchange Inc. | Add +6.2% | 0.22% | +0.04 |
| SO The Southern Co. | Add +6.9% | 0.25% | +0.04 |
| CTAS Cintas Corp. | Add +10.3% | 0.21% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 551 | $155.1B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q1 2026 | 562 | $131.7B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q4 2025 | 561 | $135.1B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q3 2025 | 552 | $128.8B | NVDA, AAPL, MSFT, AMZN, META |
| Q2 2025 | 534 | $115.8B | NVDA, MSFT, AAPL, PBUS, AMZN |
| Q1 2025 | 540 | $104.0B | AAPL, NVDA, MSFT, PBUS, AMZN |
| Q4 2024 | 550 | $105.7B | AAPL, NVDA, MSFT, PBUS, AMZN |
| Q3 2024 | 511 | $103.7B | AAPL, NVDA, MSFT, PBUS, AMZN |
| Q2 2024 | 546 | $87.0B | AAPL, MSFT, NVDA, PBUS, AMZN |
| Q1 2024 | 539 | $83.3B | MSFT, AAPL, PBUS, NVDA, AMZN |