The National Pension Service (NPF) took advantage of the market downturn caused by the Iran-Israel conflict to aggressively purchase US blue-chip stocks at discounted prices, generating significant valuation gains. Specifically, the holdings of the M7 stocks (Nvidia, Apple, etc.) increased substantially, and considering the stock market rebound after April, it is estimated that a considerable profit was realized. Furthermore, holdings of US defense companies and conservative media stocks also increased.