About NPS & This Tracker

The National Pension Service (NPS) is South Korea's mandatory public pension fund, established in 1988. It is the world's 3rd largest pension fund by assets under management, behind only Japan's GPIF and Norway's Government Pension Fund Global.

NPS manages over $1 trillion (KRW 1,100+ trillion) in total assets as of 2025. The fund covers approximately 22 million contributors — nearly half of South Korea's population — and provides old-age pensions, disability benefits, and survivor benefits.

NPS allocates across domestic and international equities, fixed income, alternative investments (real estate, infrastructure, private equity), and other asset classes. Its overseas equity allocation has been steadily increasing, with US stocks representing the largest single country exposure.

SEC Form 13F is a quarterly report required by the U.S. Securities and Exchange Commission from institutional investment managers who exercise discretion over $100 million or more in qualifying assets. Filed within 45 days after each calendar quarter end, it discloses long positions in US-listed equities only.

• •Filed within 45 days after each calendar quarter end
• •Discloses long positions in US-listed equities and equity options
• •Does not show short positions, non-US stocks, bonds, or most derivatives
• •Represents a snapshot of holdings at quarter-end
• •NPS's CIK number is 0001608046 on SEC EDGAR

NPS is one of the most sophisticated institutional investors in the world, investing with a multi-decade horizon. Their $135B+ US equity portfolio can move markets, and their investment decisions are made by professional analysts with extensive research resources.

• •Long-term perspective — As a pension fund, NPS invests with a multi-decade horizon
• •Diversified research — Access to both Korean and global research teams
• •Market impact — With $135B+ in US equities, their buying and selling can move markets
• •Unique angle — As a Korean institution, NPS may have differentiated views

• •US stock data is from NPS's own SEC 13F filing (CIK 0001608046) only — this covers ~550 stocks ($105.7B), roughly 37% of NPS's total overseas equity ($289B per fund.nps.or.kr). The remaining holdings are not included in this site
• •The exact reason for the gap is not officially disclosed by NPS. Likely factors include non-US stocks, delegated management, and indirect holdings
• •13F filings have a 45-day delay — positions may not reflect current holdings
• •Korean domestic data is annual (data.go.kr) — supplemented by DART 5%+ stake change tracking
• •13F covers only US-listed long equity — bonds, derivatives, shorts excluded
• •Exchange rate conversions introduce minor period-to-period discrepancies
• •Backtest results are hypothetical — no transaction costs, slippage, or taxes

This site is for informational purposes only and does not constitute investment advice. It is not affiliated with NPS.

NPS Tracker is an open-source project that collects and visualizes Korea's National Pension Service global investment data from legally mandated public disclosures (SEC 13F and DART filings). We do not generate proprietary data or provide investment advice — our goal is transparent access to public information.

Data is automatically updated daily, and all source code is available on GitHub.