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Korea's state pension service steps up U.S. Big Tech stock purchases

Published: 15 May. 2025, 14:18

The National Pension Service [NEWS1]

Korea's National Pension Service (NPS) ramped up purchases of major U.S. tech stocks — including the so-called Magnificent Seven — in the first quarter of 2025, continuing a dip-buying strategy despite a broader market downturn.

The Magnificent Seven stocks include Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia and Tesla.

According to a report released Wednesday by the U.S. Securities and Exchange Commission, the NPS held $104 billion in U.S. equities as of the end of the first quarter of this year. That figure represents a slight decrease from $105.6 billion in the previous quarter.

Apple was the most heavily bought stock by the pension fund during the period, with 1,500,055 additional shares acquired, valued at about $333.2 million. However, its overall weight in the portfolio edged down from 6.42 percent to 6.1 percent, reflecting a drop in Apple’s share price.

The NPS also added 547,254 shares of Microsoft, valued at $205.4 million, and 1,651,228 shares of Nvidia, valued at $178.96 million. It bought shares in all other members of the Magnificent Seven as well, including Amazon with 875,991 shares, or $166.66 million, Meta Platforms with 176,627 shares, or $101.8 million, Alphabet with 367,241 shares, or $56.79 million and Tesla with 172,845 shares, or $44.79 million.

The pension fund also bought 262,410 shares of U.S. software company Palantir Technologies, worth $22.14 million. Palantir’s stock had fallen 40.7 percent from its February peak to $84.4 as of March 31, the end of the first quarter of 2025.

Netflix was a new addition to the NPS stock portfolio. Following strong earnings in the fourth quarter of 2024, the fund bought 19,397 shares worth $18.08 million.

The NPS also notably increased its stake in the U.S. conglomerate Berkshire Hathaway, purchasing 98,263 shares worth $52.33 million. The percentage of Berkshire Hathaway from NPS's portfolio rose from 0.98 percent to 1.22 percent.

In addition, the fund added four new stocks, including U.S. fintech firms Robinhood Markets and Interactive Brokers. It exited 14 items, including AES and Cooper Companies, and reduced its stake in 115 others.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY LEE HAY-JUNE [[email protected]]