National Pension Service Reveals Q2 U.S. Stock Portfolio
The National Pension Service has disclosed its investment in U.S. stocks for the second quarter. It realized some profits from NVIDIA while reportedly making low-cost purchases of Tesla during the decline in stock prices. The total amount held increased by 11.5% to 161 trillion won over three months.
According to the 13F report submitted to the U.S. Securities and Exchange Commission (SEC), the National Pension Service held U.S. stocks worth 116 billion dollars (approximately 161 trillion won) as of the end of June. This represents an increase of 12 billion dollars from 104 billion dollars at the end of March over the three-month period, attributed to new investments and increases in valuation due to rising stock prices.
Sales of NVIDIA and Some Tech Stocks, Increased Holdings in Apple and Tesla
The most sold stock by the National Pension Service in the second quarter was NVIDIA, its largest holding. It sold about 110,000 shares out of over 47.67 million. However, due to rising stock prices, the portfolio proportion increased from 4.97% to 6.35%.
Considering that the average buying price was in the 29-dollar range, this represents a significant profit. NVIDIA's stock price rose from 158 dollars at the end of June to around 182 dollars currently.
In addition, the National Pension Service reduced its holdings in some tech stocks like Microsoft, Meta, and Broadcom. In contrast, it expanded its buying activity in Apple, Amazon, Google, and Tesla. Notably, Tesla's stock price dropped to 220 dollars during a conflict between President Trump and CEO Elon Musk in April, prompting purchases. Given the National Pension Service's average buying price for Tesla (135 dollars), it is currently realizing a high rate of return compared to the current stock price (around 340 dollars).
Large Purchases of Netflix, New Additions in AI and Defense Sectors
In the second quarter portfolio, the stock that saw the most significant increase in proportion was Netflix. With expectations for improved performance driven by K-content hits like "Squid Game 3" and "K-Pop Demon Hunters," actual revenue rose by 15.9% year-on-year, causing the stock price to surge over 40% during the quarter.
The newly added stocks include Rallyant Corporation, which specializes in AI and quantum computing equipment, and defense contractor Amendment Holdings, which have caught attention.
Rallyant supplies communication protocol verification equipment for AI and quantum computing. The National Pension Service invested approximately 8.43 million dollars (portfolio proportion 0.01%). Amendment Holdings, a company providing support services for missile defense systems, has shown promising early returns, but the investment size is minimal at 23,492 dollars.
The National Pension Service's Asset Management Headquarters stated, "As of the end of May, 35.1% of our total managed assets are invested in overseas stocks, and we plan to increase that to 35.9% by the end of the year and 38.9% next year."
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