# National Pension Service

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1608046. Source: https://holderbook.com/funds/1608046-national-pension-service/

- Reported value: $155.1B
- Positions: 552
- Weight of the ten largest: 33.5%
- Filed: 2026-08-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $10.2B | 50,834,621 | 6.6% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $9.1B | 31,517,924 | 5.9% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $5.7B | 15,239,745 | 3.7% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $5.0B | 20,970,745 | 3.2% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $4.7B | 13,098,297 | 3.0% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $3.7B | 10,550,690 | 2.4% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $3.6B | 9,612,865 | 2.3% | 31 |
| INVESCO EXCH TRADED FD TR II | [PBUS](https://holderbook.com/stocks/PBUS/) | $3.5B | 47,382,366 | 2.3% | 22 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $3.3B | 2,886,160 | 2.1% | 31 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $3.1B | 4,119,355 | 2.0% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $2.7B | 4,850,873 | 1.8% | 31 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $2.5B | 6,022,001 | 1.6% | 31 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $2.1B | 3,600,765 | 1.3% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $2.0B | 1,682,782 | 1.3% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.8B | 5,549,588 | 1.2% | 31 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $1.5B | 3,362,878 | 0.9% | 7 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $1.4B | 1,962,051 | 0.9% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.4B | 2,804,925 | 0.9% | 31 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $1.4B | 9,999,492 | 0.9% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $1.3B | 5,226,968 | 0.9% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $1.3B | 9,664,021 | 0.9% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.2B | 3,456,128 | 0.8% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $1.2B | 10,314,166 | 0.8% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $1.1B | 9,713,396 | 0.7% | 31 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $1.1B | 3,634,859 | 0.7% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $1.1B | 1,010,122 | 0.7% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $1.0B | 4,009,573 | 0.7% | 31 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $910.5M | 2,436,124 | 0.6% | 20 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $904.3M | 966,727 | 0.6% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $887.0M | 1,727,014 | 0.6% | 31 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $885.3M | 15,536,432 | 0.6% | 31 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $882.0M | 1,380,902 | 0.6% | 31 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $833.1M | 2,796,524 | 0.5% | 21 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $826.9M | 5,639,311 | 0.5% | 31 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $818.9M | 1,970,332 | 0.5% | 31 |
| SEAGATE TECHNOLOGY HLDNGS PL | [STX](https://holderbook.com/stocks/STX/) | $805.5M | 834,705 | 0.5% | 7 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $791.2M | 2,243,280 | 0.5% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $759.9M | 9,350,248 | 0.5% | 31 |
| T ROWE PRICE EXCHANGE-TRADED | [TGRW](https://holderbook.com/stocks/TGRW/) | $754.7M | 15,814,477 | 0.5% | 9 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $750.2M | 4,525,852 | 0.5% | 31 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $744.2M | 5,791,782 | 0.5% | 31 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $693.9M | 9,718,007 | 0.4% | 31 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $678.1M | 670,463 | 0.4% | 31 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $675.3M | 3,732,937 | 0.4% | 31 |
| HARBOR ETF TRUST | [INFO](https://holderbook.com/stocks/INFO/) | $668.0M | 24,565,625 | 0.4% | 7 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $667.0M | 1,955,902 | 0.4% | 31 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $663.3M | 564,585 | 0.4% | 9 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $660.8M | 2,349,975 | 0.4% | 31 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $632.1M | 2,120,680 | 0.4% | 31 |
| ADVISORS INNER CIRCLE FD | [LSVD](https://holderbook.com/stocks/LSVD/) | $627.4M | 18,162,000 | 0.4% | 4 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $623.7M | 1,201,908 | 0.4% | 10 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $618.9M | 2,960,629 | 0.4% | 31 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $610.6M | 5,233,929 | 0.4% | 13 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $605.5M | 7,327,199 | 0.4% | 31 |
| SPACE EXPLORATION TECHN CORP | [SPCX](https://holderbook.com/stocks/SPCX/) | $598.0M | 3,500,000 | 0.4% | 1 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $595.6M | 3,378,080 | 0.4% | 31 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $567.8M | 3,874,480 | 0.4% | 31 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $557.0M | 1,402,309 | 0.4% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $555.8M | 2,929,485 | 0.4% | 25 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $554.1M | 3,959,126 | 0.4% | 31 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $542.6M | 2,124,412 | 0.3% | 31 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $521.3M | 3,068,874 | 0.3% | 7 |
| ISHARES INC | [EWP](https://holderbook.com/stocks/EWP/) | $480.6M | 8,092,278 | 0.3% | 31 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $475.2M | 2,571,530 | 0.3% | 31 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $465.7M | 1,286,149 | 0.3% | 31 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $457.4M | 2,015,067 | 0.3% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $456.1M | 3,368,195 | 0.3% | 31 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $455.2M | 5,186,827 | 0.3% | 31 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $453.7M | 10,714,909 | 0.3% | 31 |
| T ROWE PRICE EXCHANGE-TRADED | [TSPA](https://holderbook.com/stocks/TSPA/) | $452.2M | 9,513,375 | 0.3% | 9 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $448.3M | 1,658,379 | 0.3% | 31 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $422.1M | 841,947 | 0.3% | 31 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $417.5M | 4,337,598 | 0.3% | 31 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $416.4M | 4,513,138 | 0.3% | 31 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $406.9M | 2,686,071 | 0.3% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $402.9M | 1,191,145 | 0.3% | 31 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $402.3M | 634,248 | 0.3% | 31 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $396.2M | 519,230 | 0.3% | 23 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $391.2M | 1,148,011 | 0.3% | 10 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $386.9M | 3,062,393 | 0.2% | 31 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $383.7M | 2,832,204 | 0.2% | 31 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $381.9M | 4,208,467 | 0.2% | 31 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $377.0M | 1,386,156 | 0.2% | 31 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $369.4M | 17,847,086 | 0.2% | 31 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $368.5M | 864,731 | 0.2% | 10 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $360.6M | 1,666,045 | 0.2% | 31 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $359.7M | 4,998,800 | 0.2% | 31 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $359.4M | 2,016,221 | 0.2% | 31 |
| PARKER-HANNIFIN CORP | [PH](https://holderbook.com/stocks/PH/) | $359.1M | 367,138 | 0.2% | 31 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $352.2M | 3,404,216 | 0.2% | 31 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $349.9M | 14,530,439 | 0.2% | 31 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $342.2M | 3,291,731 | 0.2% | 31 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $331.3M | 650,340 | 0.2% | 31 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $331.3M | 317,816 | 0.2% | 31 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $328.7M | 4,555,765 | 0.2% | 25 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $328.6M | 3,518,181 | 0.2% | 31 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $322.3M | 2,057,099 | 0.2% | 31 |
| ROYAL CARIBBEAN GROUP | [RCL](https://holderbook.com/stocks/RCL/) | $322.1M | 1,014,363 | 0.2% | 10 |
| BANK OF NY MELLON CORP | [BNY](https://holderbook.com/stocks/BNY/) | $321.5M | 2,223,062 | 0.2% | 31 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $321.4M | 5,578,135 | 0.2% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +15.6% | +14.8% | +0.8% | 100% |
| Q1 2026 | -4.4% | -4.6% | +0.3% | 100% |
| Q4 2025 | +2.0% | +2.4% | -0.3% | 100% |
| Q3 2025 | +7.8% | +7.8% | -0.0% | 100% |
| Q2 2025 | +11.0% | +10.5% | +0.6% | 100% |
| Q1 2025 | -4.5% | -4.6% | +0.0% | 100% |
| Q4 2024 | +2.2% | +2.1% | +0.0% | 100% |
| Q3 2024 | +5.5% | +5.4% | +0.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $155.1B | 552 |
| Q1 2026 | $131.7B | 562 |
| Q4 2025 | $135.1B | 561 |
| Q3 2025 | $128.8B | 552 |
| Q2 2025 | $115.8B | 534 |
| Q1 2025 | $104.0B | 540 |
| Q4 2024 | $105.7B | 550 |
| Q3 2024 | $103.7B | 511 |
| Q2 2024 | $87.0B | 546 |
| Q1 2024 | $83.3B | 539 |
| Q4 2023 | $71.8B | 513 |
| Q3 2023 | $62.5B | 514 |