[Photo provided by National Pension Service]
South Korea’s biggest institutional investor National Pension Service (NPS) mostly unloaded large-cap stocks like Samsung Electronics Co. in the first quarter to keep to its guidance on local stock ratio against investment portfolio amid stock price gains.
The number of companies in which the fund owns more than 5 percent stake decreased to 261 as of Wednesday from 273 at the end of last year, according to local market tracker FnGuide on Thursday.
It cut holdings in Halla Holdings from 12.46 percent to 8.58 percent, Mando from 12.67 percent to 8.82 percent, LG Hausys from 11.95 percent to 8.30 percent, Hanall BioPharma from 13.50 percent to 9.94 percent and SK D&D from 9.80 percent to 6.59 percent.
NPS also trimmed its ownership in market heavyweights whose share prices jumped since the beginning of the year. Its stake in Samsung Electronics fell from 10.69 percent to 9.99 percent, SK Hynix 10.97 percent to 9.97 percent, Naver 11.57 percent to 10.30 percent, LG Chem 9.98 percent to 9.15 percent, Hyundai Motor 10.24 percent to 9.29 percent, Samsung SDI 9.99 percent to 9.35 percent and Celltrion 9.16 percent to 7.91 percent.
Meanwhile, the fund upped its stake in 68 companies including Samwha Capacitor from 6.67 percent to 11.09 percent, OCI 9.23 percent to 12.17 percent and Shinsegae International 11.07 percent to 13.31 percent.
Posco Chemical, Big Hit Entertainment, DL E&C, Hanwha Life Insurance and Wonik IPO were included in the list of companies in which the pension fund holds a five percent or more.
Large-cap stocks in which it scaled up its holdings include Kia Motors, LG Household & Healthcare, Samsung Life Insurance, Lotte Chemical, LG Display, KT and CJ Cheiljedang.
Chemical companies saw the biggest cut in the fund’s portfolio, as it lowered its stake in 15 chemical stocks.
It also pared its holdings in 14 chipmakers and semiconductor equipment providers.
The value of its stock holdings of more than 5 percent totaled 167.6 trillion won ($150 billion) as of Wednesday, up 4.4 percent from the end of last year.
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]