▲ Samsung Electronics and SK Hynix
As the KOSPI continued its strong rally in the second quarter, surpassing the 9,000-point mark for the first time in history, the value of domestic stock holdings held by the National Pension Service (NPS), a major player in the local stock market, is estimated to have surged by nearly 200 trillion won in just three months.
This marks the largest quarterly increase on record, exceeding the growth seen in the first quarter by more than 100 trillion won.
According to financial information provider FnGuide on July 8, the total valuation of stocks in 270 listed companies where the NPS holds a stake of 5% or more reached 486.0118 trillion won as of July 6.
This represents an increase of 189.5684 trillion won compared to the end of March (296.4433 trillion won), reflecting a return rate of 63.9%.
The return rate is double that of the first quarter (32.0%) compared to the end of last year, and the increase in valuation is more than 100 trillion won higher than the first quarter (78.5507 trillion won).
In particular, the valuation of holdings in Samsung Electronics and SK Hynix alone increased by 151 trillion won.
This accounts for 79.8% of the total increase.
Unlike in the first quarter, the increase in the valuation of SK Hynix was larger than that of Samsung Electronics.
While the stake in SK Hynix remained the same as in the first quarter (7.50%), its valuation rose by 82.1407 trillion won, from 43.156 trillion won at the end of March to 125.2968 trillion won.
The growth rate was 190.3%.
The stake in Samsung Electronics increased by 0.09 percentage points (from 7.75% to 7.84%).
During the same period, its valuation rose by 69.1626 trillion won (90.1%), from 76.6842 trillion won to 145.8467 trillion won.
The proportion of Samsung Electronics and SK Hynix in the total domestic stock portfolio of the NPS rose significantly from 40.4% at the end of March to 55.7% as of July 6.
The increase in the valuation of SK Hynix and Samsung Electronics accounted for 79.8% of the total increase in the NPS's stock portfolio value.
Following SK Hynix and Samsung Electronics, the NPS's stake in SK Square saw the third-largest increase at 11.9953 trillion won. Samsung Electro-Mechanics followed with an increase of over 10 trillion won (10.4072 trillion won), despite the NPS reducing its stake by 0.51 percentage points from 10.46% to 9.95%.
Samsung C&T (up 2.7278 trillion won), Samsung Life Insurance (up 2.5137 trillion won), and SK (up 2.0577 trillion won) followed in order.
Conversely, Mirae Asset Securities, which saw a significant rise in stock valuation in the first quarter, experienced the largest loss in the second quarter, with its valuation falling by 1.0717 trillion won.
LG Energy Solution (-573.7 billion won) and Hanwha Systems (-451 billion won) also suffered significant losses, while the stock valuations of Kakao (-447 billion won) and Naver (-415.3 billion won) also saw sharp declines.
In the second quarter, 19 stocks were newly added to the list of companies where the NPS holds a stake of 5% or more, including Symtek and SK Eternix, while 21 stocks, such as LX Semicon and Hana Tour, fell below the 5% threshold.
Stocks with the largest increases in stake included BH (7.47% to 13.35%) and DL E&C (8.06% to 11.44%), while stakes were reduced in companies such as LG (9.19% to 6.42%), SK Chemicals (8.50% to 6.51%), Daejoo Electronic Materials (9.98% to 7.66%), and Vinatech (8.68% to 5.12%).
The number of stocks with a stake of 5% or more decreased slightly from 274 at the end of March to 270 as of July 6.
Newly added stocks included 13 KOSPI-listed and 6 KOSDAQ-listed companies, while 11 KOSPI-listed and 10 KOSDAQ-listed companies were removed.
The number of stocks in which the NPS holds a stake of 10% or more decreased from 34 at the end of the previous quarter to 32.
At the end of March, the stocks with the largest stakes were Samsung Securities (13.37%), OCI Holdings (13.37%), and Daeduck Electronics (13.12%). As of July 6, the list was led by Hyundai Department Store (13.49%), Samsung Securities (13.35%), BH (13.35%), and Korea Investment Holdings (13.28%).
There were 107 stocks with no change in stake, including SK Hynix, while 97 stocks saw an increase in stake (including new additions), and 87 stocks saw a decrease.
Meanwhile, as the suspension of the National Pension Service's domestic stock rebalancing measures expired at the end of June, market attention is focused on how much selling pressure the NPS may exert starting in July to adjust its domestic stock allocation.
(Photo: Yonhap News)
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