Norinchukin Bank, The

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), Norinchukin Bank, The reported 550 stock positions worth $3.3 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 24.5% of the portfolio, followed by Microsoft (MSFT, 4.4%) and Apple (AAPL, 2.9%). Compared with Q4 2023, it opened 4 new positions, sold out of 9, added to 25 and reduced 521. The biggest buy was Microsoft (MSFT, shares +6%) and the biggest sale an exit from iShares Core S&P 500 ETF (IVV).

Most Recent 13F
Q2 2026
Location
TOKYO, M0
CIK
0001496637
Portfolio Value
$3.3B (Q1 2024)
SEC Filing
0000905148-24-001373 ↗ filed May 14, 2024

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $3.3B $3.3B Q1 2024 Q2 2024: $3.5B Q2 2024 Q3 2024: $4.2B Q3 2024 Q4 2024: $4.7B Q4 2024 Q1 2025: $5.4B Q1 2025 Q2 2025: $6.7B Q2 2025 Q3 2025: $7.5B Q3 2025 Q4 2025: $8.6B Q4 2025 Q1 2026: $8.6B Q1 2026 Q2 2026: $10.3B Q2 2026

Holdings 550 stocks · $3.3B
SPY SS SPDR S&P 500 ETF Trust-US 24.48% 1,563,696 $817.9M Reduce -42.6%
MSFT Microsoft Corp. 4.44% 352,374 $148.3M Add +6.0%
AAPL Apple Inc. 2.89% 563,453 $96.6M Reduce -3.0%
NVDA Nvidia Corp. 2.49% 91,956 $83.1M Reduce -1.5%
AMZN Amazon.com Inc. 1.97% 364,443 $65.7M Add +2.1%
COST Costco Wholesale Corp. 1.90% 86,787 $63.6M Reduce -4.7%
GOVT iShares US Treasury Bond ETF 1.81% 2,649,662 $60.3M Reduce -2.5%
V Visa Inc. Class A 1.71% 204,792 $57.2M Reduce -2.1%
TXN Texas Instruments Inc. 1.52% 291,980 $50.9M Add +4.1%
APH Amphenol Corp. Class A 1.45% 418,751 $48.3M Reduce -4.6%
SPGI S&P Global Inc. 1.29% 101,027 $43.0M Add +4.7%
META Meta Platforms Inc. Class A 1.25% 86,212 $41.9M Reduce -2.6%
NKE Nike Inc. Class B 1.04% 368,056 $34.6M Add +21.9%
GOOGL Alphabet Inc. Class A 1.00% 221,142 $33.4M Reduce -2.0%
SHW The Sherwin-Williams Co. 1.00% 95,833 $33.3M Reduce -3.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.97% 266,124 $32.6M Reduce -26.8%
GOOG Alphabet Inc. Class C 0.91% 199,256 $30.3M Reduce -1.9%
HON Honeywell International Inc. 0.90% 145,751 $29.9M Add +1.8%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.89% 171,173 $29.7M Add +17.4%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.87% 286,527 $29.1M Reduce -1.6%
CPRT Copart Inc. 0.86% 496,231 $28.7M Add +0.5%
DE Deere & Co. 0.82% 66,863 $27.5M Add +37.7%
ZTS Zoetis Inc. 0.80% 157,291 $26.6M Add +19.6%
CHD Church & Dwight Co. Inc. 0.79% 252,700 $26.4M Reduce -1.1%
VRSK Verisk Analytics Inc. 0.76% 107,730 $25.4M Add +8.0%
FAST Fastenal Co. 0.75% 324,098 $25.0M Reduce -5.4%
AVGO Broadcom Inc. 0.75% 18,793 $24.9M Reduce -2.0%
BRK.B Berkshire Hathaway Inc. Class B 0.74% 58,825 $24.7M Reduce -1.2%
ROL Rollins Inc. 0.68% 494,084 $22.9M Reduce -2.0%
EW Edwards Lifesciences Corp. 0.68% 237,171 $22.7M Reduce -12.5%
JPM JPMorgan Chase & Co. 0.66% 110,644 $22.2M Reduce -3.6%
LLY Eli Lilly & Co. 0.64% 27,649 $21.5M Reduce -1.4%
UNH Unitedhealth Group Inc. 0.64% 43,145 $21.3M Reduce -7.5%
RMD Resmed Inc. 0.63% 106,026 $21.0M Reduce -4.1%
TSLA Tesla Inc. 0.58% 109,920 $19.3M Reduce -1.6%
STE Steris PLC 0.58% 85,643 $19.3M Reduce -2.9%
ITW Illinois Tool Works 0.57% 71,588 $19.2M Add +43.9%
HD Home Depot Inc. 0.52% 45,237 $17.4M Reduce -7.0%
XOM Exxon Mobil Corp. 0.45% 129,895 $15.1M Reduce -2.1%
JNJ Johnson & Johnson 0.45% 94,504 $14.9M Reduce -4.0%
PG The Procter & Gamble Co. 0.45% 92,111 $14.9M Reduce -4.2%
MA Mastercard Inc. Class A 0.45% 30,949 $14.9M Reduce -3.3%
LIN Linde PLC 0.44% 31,514 $14.6M Add +95.5%
TSCO Tractor Supply Company 0.40% 51,630 $13.5M Add +1245.6%
MKC McCormick & Co.-Non VTG SHRS 0.40% 173,034 $13.3M Reduce -63.9%
CRM Salesforce Inc. 0.39% 43,795 $13.2M Reduce -7.2%
MRK Merck & Co. Inc. 0.39% 98,892 $13.0M Reduce -3.9%
A Agilent Technologies Inc. 0.38% 86,803 $12.6M Reduce -0.4%
AMD Advanced Micro Devices 0.37% 67,856 $12.2M Reduce -2.0%
CVX Chevron Corp. 0.34% 71,943 $11.3M Reduce -5.7%
ABBV Abbvie Inc. 0.34% 61,858 $11.3M Reduce -1.4%
MSCI MSCI Inc. 0.34% 19,975 $11.2M Reduce -0.6%
NFLX Netflix Inc. 0.33% 18,381 $11.2M Reduce -3.1%
ADBE Adobe Inc. 0.33% 21,747 $11.0M Reduce -4.0%
CAT Caterpillar Inc. 0.31% 28,256 $10.4M Reduce -9.8%
PEP Pepsico Inc. 0.31% 58,321 $10.2M Reduce -2.0%
MCD McDonald's Corp. 0.30% 36,112 $10.2M Reduce -8.0%
PLD Prologis Inc. 0.30% 76,598 $10.0M Reduce -1.3%
AMGN Amgen Inc. 0.29% 33,655 $9.6M Reduce -8.8%
WMT Walmart Inc. 0.29% 158,821 $9.6M Reduce -16.6%
GS Goldman Sachs Group Inc. 0.28% 22,188 $9.3M Reduce -11.7%
CSCO Cisco Systems Inc. 0.27% 183,449 $9.2M Reduce -3.2%
KO The Coca-Cola Co. 0.27% 149,238 $9.1M Reduce -3.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.27% 238,600 $9.0M Reduce -1.4%
INTC Intel Corp. 0.25% 189,520 $8.4M Reduce -3.0%
ACN Accenture PLC Class A 0.25% 24,047 $8.3M Reduce -5.3%
QCOM Qualcomm Inc. 0.24% 47,630 $8.1M Reduce -1.8%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.24% 42,167 $8.1M Reduce -6.9%
INTU Intuit Inc. 0.24% 12,201 $7.9M Reduce -2.0%
TMO Thermo Fisher Scientific Inc. 0.23% 13,432 $7.8M Reduce -1.3%
EMR Emerson Electric Co. 0.23% 68,088 $7.7M Reduce -46.6%
ISRG Intuitive Surgical Inc. 0.22% 18,590 $7.4M Reduce -6.6%
CMCSA Comcast Corp. Class A 0.22% 170,196 $7.4M Reduce -3.3%
AMAT Applied Materials Inc. 0.22% 35,568 $7.3M Reduce -2.5%
WFC Wells Fargo & Co. 0.22% 124,762 $7.2M Reduce -2.2%
AXP American Express Co. 0.21% 30,856 $7.0M Reduce -9.4%
ORCL Oracle Corp. 0.21% 54,600 $6.9M Reduce -1.0%
GE General Electric 0.20% 38,008 $6.7M Reduce -1.4%
ABT Abbott Laboratories 0.20% 58,272 $6.6M Reduce -1.3%
VZ Verizon Communications Inc. 0.20% 156,800 $6.6M Reduce -3.0%
EQIX Equinix Inc. 0.19% 7,600 $6.3M Reduce -1.1%
BA The Boeing Co. 0.18% 30,681 $5.9M Reduce -8.6%
BKNG Booking Holdings Inc. 0.17% 1,547 $5.6M Reduce -2.3%
MU Micron Technology Inc. 0.16% 46,509 $5.5M Reduce -1.6%
LRCX Lam Research Corp. 0.16% 5,624 $5.5M Reduce -2.2%
PFE Pfizer Inc. 0.16% 196,618 $5.5M Reduce -1.4%
DHR Danaher Corp. 0.16% 21,836 $5.5M Reduce -3.4%
NOW ServiceNow Inc. 0.16% 7,137 $5.4M Reduce -1.4%
COP Conocophillips 0.16% 42,368 $5.4M Reduce -2.1%
UBER Uber Technologies Inc. 0.15% 66,718 $5.1M Reduce -1.2%
LOW Lowe's Cos Inc. 0.15% 19,997 $5.1M Reduce -1.7%
UNP Union Pacific Corp. 0.15% 20,502 $5.0M Reduce -1.3%
PM Philip Morris International 0.15% 54,522 $5.0M Reduce -1.4%
SNPS Synopsys Inc. 0.15% 8,552 $4.9M Reduce -6.8%
VRTX Vertex Pharmaceuticals Inc. 0.14% 11,130 $4.7M Reduce -2.1%
NEE Nextera Energy Inc. 0.14% 72,354 $4.6M Reduce -1.4%
RTX RTX Corp. 0.14% 47,297 $4.6M Reduce -8.3%
TMUS T-Mobile US Inc. 0.14% 27,808 $4.5M Reduce -0.1%
ADP Automatic Data Processing 0.13% 17,865 $4.5M Reduce -2.2%
SBUX Starbucks Corp. 0.13% 48,285 $4.4M Reduce -2.8%

Show all 550 holdings

Portfolio Sells Q4 2023 → Q1 2024
IVV iShares Core S&P 500 ETF Sold out 0.00% −14.18
SPY SS SPDR S&P 500 ETF Trust-US Reduce -42.6% 24.48% −5.88
MKC McCormick & Co.-Non VTG SHRS Reduce -63.9% 0.40% −0.37
MTD Mettler-Toledo International Reduce -91.2% 0.03% −0.24
TSLA Tesla Inc. Reduce -1.6% 0.58% −0.07
EMR Emerson Electric Co. Reduce -46.6% 0.23% −0.06
BA The Boeing Co. Reduce -8.6% 0.18% −0.03
SNA Snap-on Inc. Reduce -54.8% 0.02% −0.01
WBA Walgreens Boots Alliance Inc. Reduce -30.5% 0.02% −0.01
SRC Spirit Realty Capital Inc. Sold out 0.00% −0.01
SPLK Splunk Inc. Sold out 0.00% −0.01
WHR Whirlpool Corp. Sold out 0.00% −0.01
ZION Zions Bancorp NA Sold out 0.00% −0.01
KRC Kilroy Realty Corp. Sold out 0.00% −0.00
CHTR Charter Communications Inc. Class A Reduce -3.9% 0.04% −0.00
PK Park Hotels & Resorts Inc. Sold out 0.00% −0.00
PHYSICIANS REALTY TRUST Sold out 0.00% −0.00
LULU Lululemon Athletica Inc. Reduce -2.3% 0.06% −0.00
HUM Humana Inc. Reduce -2.0% 0.04% −0.00
DRH Diamondrock Hospitality Co. Sold out 0.00% −0.00
WBD Warner Bros Discovery Inc. Reduce -2.1% 0.03% −0.00
PDD PDD Holdings Inc. Reduce -4.7% 0.02% −0.00
SIRI Sirius XM Holdings Inc. Reduce -4.6% 0.00% −0.00
MKTX Marketaxess Holdings Inc. Reduce -1.1% 0.01% −0.00
DHC Diversified Healthcare Trust Reduce -0.9% 0.00% −0.00
PODD Insulet Corp. Reduce -1.4% 0.01% −0.00
PARAA Paramount Global Class B Reduce -1.4% 0.01% 0.00
TEAM Atlassian Corp. Class A Reduce -3.0% 0.01% +0.00
VFC VF Corp. Reduce -2.7% 0.01% +0.00
HR Healthcare Realty Trust Inc. Reduce -1.1% 0.01% +0.00
GFS Globalfoundries Inc. Reduce -4.7% 0.01% +0.00
COLD Americold Realty Trust Inc. Reduce -1.2% 0.01% +0.00
ZS Zscaler Inc. Reduce -4.7% 0.01% +0.00
LXP LXP Industrial Trust Reduce -1.1% 0.00% +0.00
MDB Mongodb Inc. Reduce -3.6% 0.01% +0.00
UNIT Uniti Group LLC Com SHS Reduce -1.0% 0.00% +0.00
ETSY Etsy Inc. Reduce -1.4% 0.01% +0.00
MPT Medical Properties Trust Inc. Reduce -1.3% 0.00% +0.00
AIRC Apartment Income REIT Co. Reduce -2.7% 0.01% +0.00
RHI Robert Half Inc. Reduce -2.8% 0.01% +0.00
ADC Agree Realty Corp. Reduce -1.1% 0.01% +0.00
APLE Apple Hospitality REIT Inc. Reduce -1.1% 0.01% +0.00
CHRW C.H. Robinson Worldwide Inc. Reduce -1.4% 0.01% +0.00
BF.B Brown-Forman Corp. Class B Reduce -2.4% 0.01% +0.00
XRAY Dentsply Sirona Inc. Reduce -1.4% 0.01% +0.00
KRG Kite Realty Group Trust Reduce -1.1% 0.01% +0.00
SBRA Sabra Health Care REIT Inc. Reduce -1.1% 0.00% +0.00
IVZ Invesco Ltd. Reduce -1.4% 0.01% +0.00
BWA Borgwarner Inc. Reduce -3.4% 0.01% +0.00
IRT Independence Realty Trust Inc. Reduce -1.2% 0.01% +0.00

Portfolio Buys Q4 2023 → Q1 2024
MSFT Microsoft Corp. Add +6.0% 4.44% +1.51
AMZN Amazon.com Inc. Add +2.1% 1.97% +0.70
TXN Texas Instruments Inc. Add +4.1% 1.52% +0.40
TSCO Tractor Supply Company Add +1245.6% 0.40% +0.39
DE Deere & Co. Add +37.7% 0.82% +0.37
JKHY Jack Henry & Associates Inc. Add +17.4% 0.89% +0.33
CPRT Copart Inc. Add +0.5% 0.86% +0.29
SPGI S&P Global Inc. Add +4.7% 1.29% +0.29
LIN Linde PLC Add +95.5% 0.44% +0.28
ITW Illinois Tool Works Add +43.9% 0.57% +0.27
NKE Nike Inc. Class B Add +21.9% 1.04% +0.27
VRSK Verisk Analytics Inc. Add +8.0% 0.76% +0.20
HON Honeywell International Inc. Add +1.8% 0.90% +0.19
ZTS Zoetis Inc. Add +19.6% 0.80% +0.19
SMCI Super Micro Computer Inc. New 0.05% +0.05
O Realty Income Corp. Add +13.2% 0.11% +0.03
DECK Deckers Outdoor Corp. New 0.02% +0.02
BX Blackstone Inc. Add +0.0% 0.09% +0.02
GEHC GE Healthcare Technology Add +0.5% 0.05% +0.02
DOC Healthpeak Properties Inc. Add +27.0% 0.03% +0.01
DVA Davita Inc. New 0.01% +0.01
TYL Tyler Technologies Inc. Add +0.1% 0.03% +0.01
MHK Mohawk Industries Inc. New 0.01% +0.01
KIM Kimco Realty Corp. Add +5.8% 0.03% +0.01
ATO Atmos Energy Corp. Add +0.0% 0.02% +0.00
TRNO Terreno Realty Corp. Add +9.8% 0.01% +0.00
EGP Eastgroup Properties Inc. Add +1.7% 0.01% +0.00
BEN Franklin Templeton Inc. Add +4.4% 0.01% +0.00
PECO Phillips Edison & Company Inc. Add +0.8% 0.01% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 567$10.3BSPY, IVV, VOO, VTI, ITOT
Q1 2026 560$8.6BSPY, VOO, ITOT, NVDA, IVV
Q4 2025 564$8.6BSPY, ITOT, NVDA, QQQ, IVV
Q3 2025 567$7.5BSPY, ITOT, NVDA, QQQ, IVV
Q2 2025 567$6.7BSPY, ITOT, QQQ, MSFT, IVV
Q1 2025 560$5.4BSPY, IVV, QQQ, SPYM, AAPL
Q4 2024 556$4.7BSPY, IVV, QQQ, AAPL, MSFT
Q3 2024 552$4.2BSPY, MSFT, AAPL, IVV, NVDA
Q2 2024 542$3.5BSPY, MSFT, AAPL, NVDA, GOVT
Q1 2024 550$3.3BSPY, MSFT, AAPL, NVDA, AMZN