South Korea’s National Pension Service (NPS), one of the world’s largest public pension funds, is making bold moves in the U.S. stock market. With a staggering $720 billion in assets, NPS has recently revamped its portfolio, making notable investments in big-name companies like Palantir (PLTR), Super Micro Computer (SMCI), and Target (TGT). At the same time, it has decided to part ways with Chipotle (CMG), leaving many investors puzzled.
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Let’s find out what this means for the market:
Increasing Stake in Palantir and SMCI
First on the list, NPS is doubling down on tech giants Palantir and Super Micro Computer. Both companies are riding the AI wave, and NPS is betting they’re just getting started. The pension fund recently bought nearly 2 million shares of Palantir, bringing its total stake to almost 5 million. This is a true sign of confidence in a company that has become a powerhouse in data analytics.
Palantir had an outstanding 2024, joining the prestigious S&P 500 and Nasdaq 100. Its stock soared over 354% in the past year and has continued the trend in 2025, climbing over 46% year-to-date and well-positioned for future growth. It looks like NPS is all-in on this future.
Then there’s Super Micro Computer (SMCI), a server maker whose stock has been on a rollercoaster ride. After skyrocketing by more than 300% early in 2024, the company faced a crash due to short-seller accusations and an auditory debacle. Nevertheless, NPS sees potential in Super Micro. The pension fund picked up 949,220 shares, betting on a company with much to prove.
Target’s Bumpy Road
On the retail front, NPS is increasing its stake in Target, adding nearly half a million shares. However, the road ahead for Target looks challenging. Despite a strong holiday season rebound, the retailer’s stock fell 5% in 2024, down another 2.8% in 2025. With softening demand for discretionary products and supply chain issues, Target has some serious hurdles to overcome.
Parting Ways with Chipotle
Perhaps the most surprising move is NPS’s decision to sell off a significant portion of its Chipotle stock, reducing its investment by over 600,000 shares. After a solid 2024, Chipotle’s stock stumbled down 5% this year. NPS might be cautious about Chipotle’s future growth following CEO Brian Niccol’s departure and mixed Q4 results.
Market Implications
NPS’s moves are sending ripples through the market. By heavily investing in AI and tech stocks like Palantir and Super Micro, the pension fund is signaling its belief in the future of artificial intelligence and data. However, its retreat from Chipotle might indicate concerns about consumer spending with the food & beverage sector’s recovery is fairly uncertain.
Investors and analysts will closely watch these moves, as NPS’s decisions could influence other major funds and spark similar investments. If Palantir and Super Micro continue to rise, expect more institutional money to flow into AI and tech. On the other hand, Target and Chipotle may need to step up their game to keep attracting big investors like NPS.
