The National Pension Service has reportedly acquired large-cap technology stocks, including the so-called "Magnificent Seven (M7)," during the adjustment in the U.S. stock market.
According to a report released on the 14th by the U.S. Securities and Exchange Commission (SEC), the National Pension Service's investment in U.S. stocks at the end of the first quarter of this year amounted to $104 billion (approximately 147 trillion won). This is slightly lower than the $105.6 billion (approximately 150 trillion won) at the end of the fourth quarter of last year.
During the first quarter, the National Pension Service acquired a total of 412 additional stocks while selling 115 stocks.
The top net purchase of the National Pension Service in the first quarter was Apple. The National Pension Service acquired 1,500,055 shares of Apple (worth $333 million). The proportion of Apple in the National Pension Service's U.S. stock portfolio exceeds 6%.
Following Apple, the National Pension Service achieved net purchases of 547,254 shares of Microsoft (worth $205 million) and 1,651,228 shares of Nvidia (worth $179 million). Additionally, it acquired all stocks in the M7, including Amazon (worth $167 million), Meta (worth $100 million), Alphabet A and C classes (Google - worth $97 million), and Tesla (worth $45 million).
The National Pension Service also achieved a net purchase of 262,410 shares of Palantir Technologies (worth $22 million), which saw a significant decline in share price. Netflix also newly appeared on the National Pension Service's investment list.
The National Pension Service did not only focus on technology stocks. The holding ratio of Berkshire Hathaway increased from 0.98% at the end of last year to 1.22%. It also acquired more stocks related to virtual assets, and stocks like Robinhood Markets were included in its portfolio for the first time.