National Pension Service

CIK 0001608046 · Q2 2026

13F Equity AUM

$155.1B

+17.8% QoQ

Positions

552

-10 QoQ

AUM Rank

#397

Top 3%

Skill Alpha (FF)

+0.3%/yr^ns

No Clear Edge

Rank #2,123 · Top 26%

vs S&P +0.6%/yr (unadj.)

Quarters Tracked

~12 years

Portfolio Concentration

Top 5: 22.4%Top 10: 33.5%Top 20: 45.3%

NVDA6.6%

AAPL5.9%

MSFT3.7%

AMZN3.2%

GOOGL3.0%

GOOG2.4%

AVGO2.3%

PBUS2.3%

MU2.1%

IVV2.0%

Others (542)66.5%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology36.0%

Financial Services16.2%

Communication Services9.4%

Consumer Cyclical8.6%

Healthcare8.3%

Industrials7.2%

Consumer Defensive3.8%

Energy2.9%

Other7.6%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 552Median: 0.05%Avg: 0.18%

0–0.5%

515(44.1%)

0.5–1%

22(15.2%)

1–3%

10(18.4%)

3–5%

3(9.9%)

5%+

2(12.4%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 552vs 20 funds

0%Low

552

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New19Increased370Decreased154Exited29

New Positions

SPACE EXPLORATION TE…0.4%

+3.5M

MRSH0.1%

+1.1M

HONEYWELL AEROSPACE …0.1%

+751K

HONEYWELL INTL INC0.1%

+751K

CARNIVAL CORP LTD0.1%

+3.2M

FTI0.0%

+611K

RVMD0.0%

+274K

XPO0.0%

+184K

FEDEX FGHT HLDG CO I…0.0%

+176K

DUPONT DE NEMOURS IN…0.0%

+29K

Increased

KLAC0.7%

+3.3M(+899%)

BKNG0.2%

+1.9M(+2475%)

DOW0.0%

+1.3M(+2910%)

CVNA0.1%

+1.2M(+449%)

DVN0.1%

+965K(+83%)

CNC0.0%

+732K(+353%)

HBAN0.0%

+591K(+22%)

AMZN3.2%

+528K(+3%)

AAPL5.9%

+498K(+2%)

CRWV0.0%

+484K(+1195%)

Decreased

SOFI0.0%

-1,748,292(-96%)

7HP0.0%

-1,561,053(-42%)

GIS0.0%

-845,671(-67%)

TSCO0.0%

-834,064(-92%)

FIS0.0%

-669,826(-62%)

CSGP0.0%

-660,437(-94%)

EQR0.0%

-606,046(-94%)

PSTG0.0%

-553,838(-91%)

OMC0.0%

-525,504(-55%)

BRO0.0%

-470,131(-94%)

Exited

-1,459,138

-2,970,311

-457,744

-37,078

-11,863

-15,008

-24,885

-34,732

-39,730

-5,739

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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