1y return+18.1%S&P 500 +20.9%
3y return+65.3%S&P 500 +68.5%
5y return+67.0%S&P 500 +74.5%
10y return+243.2%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $343 against $357 in the S&P 500.2
National Pension ServiceS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| NVDANvidia Corporation | $10.2B | 6.6% | |
| AAPLApple Inc | $9.1B | 5.9% | +1.6% |
| MSFTMicrosoft Corp | $5.7B | 3.7% | +2.2% |
| AMZNAmazon Com Inc | $5.0B | 3.2% | +2.6% |
| GOOGLAlphabet Inc | $4.7B | 3.0% | +2.4% |
| GOOGAlphabet Inc | $3.7B | 2.4% | |
| AVGOBroadcom Inc | $3.6B | 2.3% | +2.5% |
| PBUSInvesco Exch Traded Fd Tr II | $3.5B | 2.3% | |
| MUMicron Technology Inc | $3.3B | 2.1% | |
| IVVIshares Tr | $3.1B | 2.0% | |
| METAMeta Platforms Inc | $2.7B | 1.8% | +3.3% |
| TSLATesla Inc | $2.5B | 1.6% | +2.2% |
| AMDAdvanced Micro Devices Inc | $2.1B | 1.3% | +1.4% |
| LLYEli Lilly & Co | $2.0B | 1.3% | +1.3% |
| JPMJpmorgan Chase & Co | $1.8B | 1.2% | |
| LRCXLam Research Corp | $1.5B | 0.9% | |
| AMATApplied Matls Inc | $1.4B | 0.9% | |
| BRK/BBerkshire Hathaway Inc Del | $1.4B | 0.9% | +2.6% |
| INTCIntel Corp | $1.4B | 0.9% | −2.0% |
| JNJJohnson & Johnson | $1.3B | 0.9% | +1.3% |
| Exxon Mobil CorpCUSIP 30231G102 | $1.3B | 0.9% | +1.8% |
| VVisa Inc | $1.2B | 0.8% | +1.7% |
| WMTWalmart Inc | $1.2B | 0.8% | +3.5% |
| CSCOCisco Sys Inc | $1.1B | 0.7% | |
| KLACKla Corp | $1.1B | 0.7% | +899.4% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| NVDANvidia Corporation | June 30, 2020 | +2006.7% | $10.2B |
| WDCWestern Digital Corp | June 30, 2020 | +1346.7% | $882.0M |
| AVGOBroadcom Inc | June 30, 2020 | +1096.9% | $3.6B |
| AMATApplied Matls Inc | June 30, 2020 | +1096.1% | $1.4B |
| Seagate Technology Hldngs PlCUSIP G7997R103 | December 31, 2024 | +1018.1% | $805.5M |
| AMDAdvanced Micro Devices Inc | June 30, 2020 | +1004.1% | $2.1B |
| CATCaterpillar Inc | June 30, 2020 | +741.8% | $1.1B |
| LLYEli Lilly & Co | June 30, 2020 | +630.6% | $2.0B |
| LRCXLam Research Corp | December 31, 2024 | +499.9% | $1.5B |
| GOOGLAlphabet Inc | June 30, 2020 | +404.0% | $4.7B |
Sold off last quarter
- Honeywell Intl IncCUSIP 438516106 was $329.8M
- Carnival CorpCUSIP 143658300 was $76.9M
- CTRACoterra Energy Inc was $16.1M
- PINSPinterest Inc was $3.8M
- ITGartner Inc was $3.3M
- GDDYGodaddy Inc was $3.1M
- UHSUniversal Hlth Svcs Inc was $3.0M
- HUBSHubspot Inc was $2.9M
- SOLVSolventum Corp was $2.4M
- TTDThe Trade Desk Inc was $2.2M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +12.2% | +14.8% |
| March 31, 2026 | −4.4% | −4.6% |
| December 31, 2025 | +2.0% | +2.4% |
| September 30, 2025 | +7.8% | +7.8% |
| June 30, 2025 | +11.0% | +10.5% |
| March 31, 2025 | −4.5% | −4.6% |
| December 31, 2024 | +2.2% | +2.1% |
| September 30, 2024 | +5.5% | +5.4% |
| June 30, 2024 | +3.5% | +4.0% |
| March 31, 2024 | +10.1% | +10.0% |
| December 31, 2023 | +11.5% | +11.2% |
| September 30, 2023 | −3.5% | −3.6% |
| June 30, 2023 | +8.0% | +8.3% |
| March 31, 2023 | +7.3% | +7.0% |
| December 31, 2022 | +6.7% | +7.1% |
| September 30, 2022 | −5.1% | −5.3% |
| June 30, 2022 | −17.0% | −16.5% |
| March 31, 2022 | −5.6% | −4.9% |
| December 31, 2021 | +9.8% | +10.7% |
| September 30, 2021 | −0.0% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: National Pension Service Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1608046&type=13F-HR&dateb=&owner=include&count=40CIK 1608046
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1608046/000119312526347818/Filed August 13, 2026 · accession 0001193125-26-347818