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National Pension Service: 13F portfolio Q2 2026 and what copying it returned
National Pension Service's 13F for the quarter ended 2026-06-30 (filed Aug 13, 2026): 400 common-share positions, $155.1B reported. Copying each 13F the day after it was filed returned +26.4% from May 15, 2025 to Nov 6, 2026, against +25.1% for SPY.
Copying the 13F
Each 13F bought at the close of the first trading day after it was filed and held, drifting, until the next one; value-weighted over the common-share positions with a price (90.7% of the portfolio on average); 6 filings since May 13, 2025. Price returns for the clone and SPY alike (no dividends, no costs). A 13F lists only US long positions at quarter end, reported up to 45 days later.
Largest holdings (2026-06-30)
| Ticker | Company | Weight | Value | Change in the quarter |
|---|---|---|---|---|
| NVDA | NVIDIA | 6.6% | $10.2B | -0.9% |
| AAPL | Apple | 5.9% | $9.1B | +1.6% |
| MSFT | Microsoft | 3.7% | $5.7B | +2.2% |
| AMZN | Amazon.com | 3.2% | $5.0B | +2.6% |
| GOOGL | Alphabet | 3.0% | $4.7B | +2.4% |
| GOOG | Alphabet | 2.4% | $3.7B | -0.6% |
| AVGO | Broadcom | 2.3% | $3.6B | +2.5% |
| MU | Micron Technology | 2.1% | $3.3B | +0.4% |
| IVV | iShares Core S&P 500 ETF | 2.0% | $3.1B | unchanged |
| META | Meta Platforms | 1.8% | $2.7B | +3.3% |
| TSLA | Tesla | 1.6% | $2.5B | +2.2% |
| AMD | Advanced Micro Devices | 1.4% | $2.1B | +1.4% |
| LLY | ELI Lilly | 1.3% | $2.0B | +1.3% |
| JPM | JPMorgan Chase | 1.2% | $1.8B | +0.7% |
| LRCX | LAM Research | 0.9% | $1.5B | -0.1% |
| AMAT | Applied Materials | 0.9% | $1.4B | +0.5% |
| BRK-B | Berkshire Hathaway | 0.9% | $1.4B | +2.6% |
| INTC | Intel | 0.9% | $1.4B | -2.0% |
| JNJ | Johnson & Johnson | 0.9% | $1.3B | +1.3% |
| V | Visa | 0.8% | $1.2B | +1.7% |
| WMT | Walmart | 0.8% | $1.2B | +3.5% |
| CSCO | Cisco Systems | 0.7% | $1.1B | +0.9% |
| KLAC | KLA | 0.7% | $1.1B | +899.4% |
Biggest adds
- SPCX new
- MRSH new
- HON new
- HONA new
- RVMD new
- XPO new
- FDXF new
- DD new
- IONQ new
Biggest cuts
- CMI exit
- L exit
- PINS exit
- IT exit
- GDDY exit
- UHS exit
- HUBS exit
Track record
Of 698 position changes scored in 698 separate decisions, 50.0% were on the right side of SPY over the next three months (Disclosures → Smart money).
Open in Disclosures → every quarter, the clone month by month, the smart-money record
Source: SEC Form 13F-HR, filer CIK 1608046. Not investment advice.