Terms of Service

Effective Date: January 22, 2026 | Last Updated: January 22, 2026

Article 1 (Purpose)

These Terms of Service (hereinafter referred to as "Terms") aim to regulate the conditions and procedures of use for the website service provided by NPS 13F (hereinafter referred to as "Service"), as well as the rights, obligations, and responsibilities of the users and the Service.

Article 2 (Definitions)

The terms used in these Terms are defined as follows:

  • "Service": Refers to the NPS 13F website providing information on the National Pension Service's US stock portfolio and related additional services.
  • "User": Refers to any person who accesses and uses the Service in accordance with these Terms.
  • "Content": Refers to all forms of information posted on the Service, including text, images, graphs, and data.

Article 3 (Effect and Amendment of Terms)

  1. These Terms shall be effective for all Users who wish to use the Service.
  2. The Service may amend these Terms to the extent that they do not violate relevant laws. In such cases, the effective date and reasons for the amendment will be announced within the Service.
  3. Amended Terms will take effect 7 days after the announcement.
  4. If a User does not agree to the amended Terms, they may discontinue using the Service. Continued use of the Service after the effective date of the amended Terms will be considered as consent to the changes.

Article 4 (Service Content)

The Service provides the following information:

  • US stock holdings of the National Pension Service (NPS) based on US Securities and Exchange Commission (SEC) 13F filings
  • Quarterly portfolio changes and trading trends
  • Sector-specific investment analysis
  • Individual stock investment status
  • Other related information and analysis data

Article 5 (Service Usage)

  1. The Service is available for free to anyone without requiring separate membership registration.
  2. The Service is available 24 hours a day, 365 days a year, in principle. However, the Service may be temporarily suspended for system maintenance or other reasons.
  3. The Service may change all or part of the Service according to operational or technical needs.

Article 6 (Investment Disclaimer) ⚠️ IMPORTANT

  1. This Service does not intend to provide investment solicitation, investment advice, or investment recommendations.
  2. All information provided by the Service is for informational purposes only based on SEC 13F filings and does not encourage or recommend the purchase, sale, or holding of specific stocks.
  3. The User is solely responsible for any investment decisions made based on the information provided by the Service.
  4. The Service does not guarantee the accuracy, completeness, or timeliness of the provided information and is not liable for any damages caused by errors, omissions, or delays in the information.
  5. Users are recommended to consult with qualified financial professionals before making investment decisions.
  6. Past investment performance does not guarantee future results.

Article 7 (Data Source and Limitations)

  1. The data provided by the Service is based on Form 13F reports filed with the US Securities and Exchange Commission (SEC).
  2. As 13F reports are filed within 45 days after the end of each quarter, the information displayed is past data and not real-time holdings.
  3. 13F reports only include US-listed equity holdings of institutional investors managing over $100 million in assets, and not all investment assets are disclosed.
  4. Errors may occur during data collection and processing, and the Service is not responsible for such errors.

Article 8 (Copyright and Intellectual Property Rights)

  1. Copyright and intellectual property rights for the Service's design, logo, software, graphics, and analysis methodologies belong to the Service operator.
  2. The SEC 13F filing data itself is public information and can be accessed freely by anyone.
  3. Users may use the information provided by the Service for personal purposes only and are prohibited from reproducing, distributing, transmitting, or publishing it for commercial purposes.

Article 9 (User Obligations)

Users must not engage in the following acts:

  • Acts that interfere with the operation of the Service
  • Acts of using information obtained through the Service for commercial purposes without permission
  • Acts that infringe on the rights of others or damage their reputation
  • Acts that threaten the security of the Service, such as hacking or distributing malicious code
  • Acts of collecting large amounts of data using automated means
  • Other acts that violate relevant laws and regulations or these Terms

Article 10 (Service Restriction and Suspension)

The Service may restrict or suspend service provision in the following cases:

  • Technical reasons such as regular system maintenance, server expansion and replacement, or network instability
  • Force majeure events such as natural disasters, war, or riots
  • Service suspension or changes by the data source (SEC)
  • Other reasonable reasons for service operation

Article 11 (Limitation of Liability)

  1. The Service is not liable for any damages incurred by the User in connection with the free service provided.
  2. The Service is not liable for any investment losses, opportunity costs, or data losses resulting from the use of information provided by the Service.

Article 12 (Governing Law and Jurisdiction)

  1. These Terms shall be interpreted and applied in accordance with the laws of the Republic of Korea.
  2. Any disputes arising in connection with the use of the Service shall be subject to the jurisdiction of the competent court under the Civil Procedure Act.

Supplementary Provisions

These Terms are effective from January 22, 2026.