Norinchukin Bank, The
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Norinchukin Bank, The reported 567 stock positions worth $6.7 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 11.3% of the portfolio, followed by iShares Core S&P Total U.S. (ITOT, 4.5%) and Invesco QQQ Trust Series 1 (QQQ, 4.3%). Compared with Q1 2025, it opened 9 new positions, sold out of 2, added to 499 and reduced 56. The biggest buy was a new position in iShares Core S&P Total U.S. (ITOT) and the biggest sale Honeywell International (HON, shares −61%).
- Most Recent 13F
- Q2 2026
- Location
- TOKYO, M0
- CIK
- 0001496637
- Portfolio Value
- $6.7B (Q2 2025)
- SEC Filing
- 0000905148-25-002917 ↗ filed Aug 14, 2025
Holdings Value
Holdings 567 stocks · $6.7B
| SPY SS SPDR S&P 500 ETF Trust-US | 11.34% | 1,233,000 | $761.8M | No change |
| ITOT iShares Core S&P Total U.S. | 4.51% | 2,246,560 | $303.4M | New |
| QQQ Invesco QQQ Trust Series 1 | 4.25% | 518,000 | $285.7M | No change |
| MSFT Microsoft Corp. | 4.21% | 568,280 | $282.7M | Add +6.6% |
| IVV iShares Core S&P 500 ETF | 4.15% | 448,980 | $278.8M | No change |
| SPYM Ste STR SPDR PT S&P 500 ETF | 3.80% | 3,511,270 | $255.2M | Add +3.0% |
| NVDA Nvidia Corp. | 3.77% | 1,603,522 | $253.3M | Add +9.7% |
| AAPL Apple Inc. | 3.09% | 1,012,199 | $207.7M | Add +8.9% |
| VOO Vanguard S&P 500 ETF | 3.06% | 362,580 | $206.0M | Add +22.9% |
| AMZN Amazon.com Inc. | 2.69% | 825,418 | $181.1M | Add +34.9% |
| GOVT iShares US Treasury Bond ETF | 1.97% | 5,749,375 | $132.1M | Add +10.8% |
| META Meta Platforms Inc. Class A | 1.53% | 138,874 | $102.5M | Add +4.7% |
| AVGO Broadcom Inc. | 1.38% | 336,988 | $92.9M | Add +6.5% |
| V Visa Inc. Class A | 1.29% | 244,497 | $86.8M | Add +6.8% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 1.27% | 300,000 | $85.6M | New |
| COST Costco Wholesale Corp. | 1.04% | 70,899 | $70.2M | Reduce -10.0% |
| GOOGL Alphabet Inc. Class A | 1.00% | 379,598 | $66.9M | Add +7.3% |
| TSLA Tesla Inc. | 0.92% | 194,684 | $61.8M | Add +6.4% |
| TXN Texas Instruments Inc. | 0.92% | 297,014 | $61.7M | Add +2.0% |
| SPGI S&P Global Inc. | 0.89% | 113,101 | $59.6M | Add +7.5% |
| GOOG Alphabet Inc. Class C | 0.85% | 322,413 | $57.2M | Add +6.7% |
| APH Amphenol Corp. Class A | 0.79% | 539,607 | $53.3M | Reduce -21.8% |
| ZTS Zoetis Inc. | 0.75% | 322,094 | $50.2M | Add +10.7% |
| NFLX Netflix Inc. | 0.71% | 35,867 | $48.0M | Add +7.3% |
| JPM JPMorgan Chase & Co. | 0.71% | 165,278 | $47.9M | Add +5.7% |
| LIN Linde PLC | 0.69% | 99,052 | $46.5M | Add +11.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.68% | 94,190 | $45.8M | Add +6.7% |
| EW Edwards Lifesciences Corp. | 0.59% | 506,283 | $39.6M | Add +2.6% |
| VRSK Verisk Analytics Inc. | 0.57% | 124,039 | $38.6M | Reduce -6.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.57% | 309,375 | $38.2M | Add +5.8% |
| DE Deere & Co. | 0.56% | 74,202 | $37.7M | Add +1.6% |
| SHW The Sherwin-Williams Co. | 0.55% | 107,042 | $36.8M | Reduce -10.9% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.54% | 199,894 | $36.0M | Add +6.4% |
| RMD Resmed Inc. | 0.50% | 130,115 | $33.6M | Add +12.5% |
| LLY Eli Lilly & Co. | 0.50% | 42,807 | $33.4M | Add +9.9% |
| TSCO Tractor Supply Company | 0.48% | 611,103 | $32.2M | Add +15.8% |
| MKC McCormick & Co.-Non VTG SHRS | 0.47% | 416,267 | $31.6M | Add +19.9% |
| CHD Church & Dwight Co. Inc. | 0.46% | 324,074 | $31.1M | Add +20.7% |
| SCI Service Corp. International | 0.46% | 381,681 | $31.1M | Add +10.3% |
| FAST Fastenal Co. | 0.44% | 707,683 | $29.7M | Add +1.1% |
| ITW Illinois Tool Works | 0.41% | 111,911 | $27.7M | Add +10.5% |
| MA Mastercard Inc. Class A | 0.40% | 47,849 | $26.9M | Add +6.1% |
| PLTR Palantir Technologies Inc. Class A | 0.38% | 187,650 | $25.6M | Add +34.8% |
| HD Home Depot Inc. | 0.37% | 67,608 | $24.8M | Add +6.6% |
| STE Steris PLC | 0.36% | 101,726 | $24.4M | Add +0.1% |
| WMT Walmart Inc. | 0.36% | 244,653 | $23.9M | Add +8.2% |
| CSCO Cisco Systems Inc. | 0.35% | 342,892 | $23.8M | Add +6.9% |
| JNJ Johnson & Johnson | 0.33% | 146,491 | $22.4M | Add +9.3% |
| PG The Procter & Gamble Co. | 0.33% | 138,419 | $22.1M | Add +4.0% |
| XOM Exxon Mobil Corp. | 0.33% | 204,274 | $22.0M | Add +19.2% |
| UNH Unitedhealth Group Inc. | 0.33% | 70,549 | $22.0M | Add +18.7% |
| QQQM Invesco Nasdaq 100 ETF | 0.30% | 90,000 | $20.4M | New |
| ROL Rollins Inc. | 0.30% | 353,586 | $19.9M | Reduce -28.0% |
| GS Goldman Sachs Group Inc. | 0.29% | 28,012 | $19.8M | Add +8.6% |
| INTU Intuit Inc. | 0.28% | 24,145 | $19.0M | Add +2.3% |
| AMD Advanced Micro Devices | 0.28% | 131,811 | $18.7M | Add +6.1% |
| ORCL Oracle Corp. | 0.28% | 85,164 | $18.6M | Add +5.1% |
| CTAS Cintas Corp. | 0.27% | 82,864 | $18.5M | Reduce -0.6% |
| ABBV Abbvie Inc. | 0.27% | 98,906 | $18.4M | Add +7.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.27% | 62,084 | $18.3M | Add +8.3% |
| CRM Salesforce Inc. | 0.27% | 65,439 | $17.8M | Add +7.7% |
| ISRG Intuitive Surgical Inc. | 0.26% | 31,825 | $17.3M | Add +5.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.26% | 363,032 | $17.2M | Add +5.3% |
| KO The Coca-Cola Co. | 0.26% | 242,456 | $17.2M | Add +6.9% |
| NKE Nike Inc. Class B | 0.25% | 233,984 | $16.6M | Add +2.1% |
| BKNG Booking Holdings Inc. | 0.24% | 2,811 | $16.3M | Add +3.0% |
| CPRT Copart Inc. | 0.24% | 326,834 | $16.0M | Reduce -44.4% |
| PM Philip Morris International | 0.24% | 87,586 | $16.0M | Add +6.1% |
| ADBE Adobe Inc. | 0.24% | 41,037 | $15.9M | Add +2.1% |
| AMGN Amgen Inc. | 0.23% | 56,550 | $15.8M | Add +8.1% |
| CVX Chevron Corp. | 0.23% | 109,485 | $15.7M | Add +4.5% |
| HON Honeywell International Inc. | 0.23% | 65,880 | $15.3M | Reduce -61.2% |
| GE General Electric filed as GE AEROSPACE | 0.22% | 58,276 | $15.0M | Add +0.1% |
| MCD McDonald's Corp. | 0.22% | 50,584 | $14.8M | Add +1.9% |
| QCOM Qualcomm Inc. | 0.22% | 92,414 | $14.7M | Add +8.6% |
| PEP Pepsico Inc. | 0.22% | 111,129 | $14.7M | Add +6.4% |
| A Agilent Technologies Inc. | 0.22% | 123,093 | $14.5M | Add +14.9% |
| CAT Caterpillar Inc. | 0.22% | 37,264 | $14.5M | Add +4.8% |
| TMUS T-Mobile US Inc. | 0.21% | 60,205 | $14.3M | Add +8.4% |
| UBER Uber Technologies Inc. | 0.21% | 153,199 | $14.3M | Add +9.7% |
| WFC Wells Fargo & Co. | 0.20% | 171,921 | $13.8M | Add +1.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.20% | 108,854 | $13.5M | Add +5.0% |
| AXP American Express Co. | 0.20% | 42,204 | $13.5M | Add +6.7% |
| TW Tradeweb Markets Inc. Class A | 0.19% | 89,082 | $13.0M | New |
| AMAT Applied Materials Inc. | 0.19% | 68,654 | $12.6M | Add +6.6% |
| NOW ServiceNow Inc. | 0.18% | 11,928 | $12.3M | Add +3.7% |
| ADP Automatic Data Processing | 0.18% | 38,464 | $11.9M | Add +7.1% |
| PANW Palo Alto Networks Inc. | 0.18% | 57,947 | $11.9M | Add +6.9% |
| MRK Merck & Co. Inc. | 0.17% | 146,969 | $11.6M | Add +6.3% |
| ACN Accenture PLC Class A | 0.17% | 38,748 | $11.6M | Add +3.9% |
| BA The Boeing Co. | 0.17% | 54,828 | $11.5M | Add +16.0% |
| ABT Abbott Laboratories | 0.17% | 83,982 | $11.4M | Add +10.5% |
| GILD Gilead Sciences Inc. | 0.17% | 102,900 | $11.4M | Add +5.0% |
| RTX RTX Corp. | 0.17% | 77,971 | $11.4M | Add +6.7% |
| CMCSA Comcast Corp. Class A | 0.17% | 318,781 | $11.4M | Add +6.2% |
| T AT&T Inc. | 0.17% | 385,805 | $11.2M | Add +11.0% |
| VZ Verizon Communications Inc. | 0.16% | 250,894 | $10.9M | Add +9.3% |
| MU Micron Technology Inc. | 0.16% | 87,061 | $10.7M | Add +4.8% |
| PLD Prologis Inc. | 0.16% | 100,803 | $10.6M | Add +9.0% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.16% | 20,646 | $10.5M | Add +31.1% |
Portfolio Sells Q1 2025 → Q2 2025
| HON Honeywell International Inc. | Reduce -61.2% | 0.23% | −0.43 |
| CPRT Copart Inc. | Reduce -44.4% | 0.24% | −0.37 |
| COST Costco Wholesale Corp. | Reduce -10.0% | 1.04% | −0.33 |
| SHW The Sherwin-Williams Co. | Reduce -10.9% | 0.55% | −0.23 |
| ROL Rollins Inc. | Reduce -28.0% | 0.30% | −0.19 |
| VRSK Verisk Analytics Inc. | Reduce -6.4% | 0.57% | −0.15 |
| COP Conocophillips | Reduce -7.1% | 0.10% | −0.06 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.04 |
| CTAS Cintas Corp. | Reduce -0.6% | 0.27% | −0.04 |
| APH Amphenol Corp. Class A | Reduce -21.8% | 0.79% | −0.04 |
| SLB SLB Ltd. | Reduce -2.6% | 0.05% | −0.03 |
| OKE Oneok Inc. | Reduce -13.2% | 0.04% | −0.03 |
| EOG EOG Resources Inc. | Reduce -3.8% | 0.06% | −0.02 |
| FDX FedEx Corp. | Reduce -20.3% | 0.03% | −0.02 |
| ECL Ecolab Inc. | Reduce -5.9% | 0.08% | −0.02 |
| PSX Phillips 66 | Reduce -2.5% | 0.05% | −0.01 |
| ODFL Old Dominion Freight Line | Reduce -7.0% | 0.04% | −0.01 |
| AIG American International Group | Reduce -1.9% | 0.04% | −0.01 |
| TDG Transdigm Group Inc. | Reduce -2.8% | 0.07% | −0.01 |
| TYL Tyler Technologies Inc. | Reduce -18.6% | 0.02% | −0.01 |
| OMC Omnicom Group | Reduce -10.3% | 0.02% | −0.01 |
| WBD Warner Bros Discovery Inc. | Reduce -6.2% | 0.04% | −0.01 |
| PRU Prudential Financial Inc. | Reduce -1.9% | 0.03% | −0.01 |
| DD Dupont DE Nemours Inc. | Reduce -0.1% | 0.03% | −0.01 |
| PPG PPG Industries Inc. | Reduce -9.1% | 0.02% | −0.01 |
| CTRA Coterra Energy Inc. | Reduce -0.4% | 0.02% | −0.01 |
| FOXA Fox Corp. Class A | Reduce -17.0% | 0.01% | −0.01 |
| FCX Freeport-McMoran Inc. | Reduce -5.8% | 0.05% | −0.01 |
| LYB Lyondellbasell Indu Class A | Reduce -4.9% | 0.01% | −0.01 |
| MDB Mongodb Inc. | Sold out | 0.00% | −0.01 |
| IFF Intl Flavors & Fragrances | Reduce -6.8% | 0.02% | −0.01 |
| SPSC SPS Commerce Inc. | Reduce -20.4% | 0.01% | −0.01 |
| CTVA Corteva Inc. | Reduce -9.0% | 0.04% | −0.01 |
| NUE Nucor Corp. | Reduce -8.9% | 0.02% | −0.01 |
| NEM Newmont Corp. | Reduce -7.5% | 0.05% | −0.01 |
| MTD Mettler-Toledo International | Reduce -2.2% | 0.02% | −0.01 |
| IPG Interpublic Group of Cos Inc. | Reduce -6.8% | 0.01% | −0.01 |
| EXPE Expedia Group Inc. | Reduce -4.0% | 0.02% | −0.01 |
| MTCH Match Group Inc. | Reduce -19.7% | 0.01% | −0.00 |
| MPC Marathon Petroleum Corp. | Reduce -1.0% | 0.05% | −0.00 |
| NVR NVR Inc. | Reduce -1.3% | 0.02% | −0.00 |
| AVY Avery Dennison Corp. | Reduce -4.3% | 0.01% | −0.00 |
| BALL Ball Corp. | Reduce -9.6% | 0.01% | −0.00 |
| ALB Albemarle Corp. | Reduce -10.3% | 0.01% | −0.00 |
| LNT Alliant Energy Corp. | Reduce -2.5% | 0.01% | −0.00 |
| VMC Vulcan Materials Co. | Reduce -2.0% | 0.03% | −0.00 |
| FOX Fox Corp. Class B | Reduce -11.1% | 0.01% | −0.00 |
| UHS Universal Health Services-B | Reduce -7.2% | 0.01% | −0.00 |
| DAY Dayforce Inc. | Reduce -1.0% | 0.01% | −0.00 |
| PAYC Paycom Software Inc. | Reduce -0.5% | 0.01% | −0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| ITOT iShares Core S&P Total U.S. | New | 4.51% | +4.51 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | New | 1.27% | +1.27 |
| NVDA Nvidia Corp. | Add +9.7% | 3.77% | +0.86 |
| AMZN Amazon.com Inc. | Add +34.9% | 2.69% | +0.55 |
| MSFT Microsoft Corp. | Add +6.6% | 4.21% | +0.53 |
| AVGO Broadcom Inc. | Add +6.5% | 1.38% | +0.41 |
| QQQM Invesco Nasdaq 100 ETF | New | 0.30% | +0.30 |
| VOO Vanguard S&P 500 ETF | Add +22.9% | 3.06% | +0.28 |
| TW Tradeweb Markets Inc. Class A | New | 0.19% | +0.19 |
| PLTR Palantir Technologies Inc. Class A | Add +34.8% | 0.38% | +0.16 |
| NFLX Netflix Inc. | Add +7.3% | 0.71% | +0.14 |
| META Meta Platforms Inc. Class A | Add +4.7% | 1.53% | +0.12 |
| ORCL Oracle Corp. | Add +5.1% | 0.28% | +0.07 |
| SHOP Shopify Inc. Class A | New | 0.06% | +0.06 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +31.1% | 0.16% | +0.05 |
| TSLA Tesla Inc. | Add +6.4% | 0.92% | +0.05 |
| COIN Coinbase Global Inc. Class A | New | 0.04% | +0.04 |
| AMD Advanced Micro Devices | Add +6.1% | 0.28% | +0.04 |
| CEG Constellation Energy | Add +8.2% | 0.13% | +0.04 |
| GS Goldman Sachs Group Inc. | Add +8.6% | 0.29% | +0.04 |
| GEV GE Vernova Inc. | Add +1.7% | 0.11% | +0.03 |
| COF Capital One Financial Corp. | Add +56.6% | 0.10% | +0.03 |
| DASH DoorDash Inc. Class A | Add +30.1% | 0.11% | +0.03 |
| AXON Axon Enterprise Inc. | Add +11.5% | 0.09% | +0.03 |
| MU Micron Technology Inc. | Add +4.8% | 0.16% | +0.03 |
| UBER Uber Technologies Inc. | Add +9.7% | 0.21% | +0.03 |
| RMD Resmed Inc. | Add +12.5% | 0.50% | +0.02 |
| BA The Boeing Co. | Add +16.0% | 0.17% | +0.02 |
| KKR KKR & Co. Inc. | Add +47.6% | 0.08% | +0.02 |
| KLAC KLA Corp. | Add +7.4% | 0.15% | +0.02 |
| LRCX Lam Research Corp. | Add +4.2% | 0.15% | +0.02 |
| INTU Intuit Inc. | Add +2.3% | 0.28% | +0.02 |
| RCL Royal Caribbean Cruises Ltd. | Add +13.4% | 0.05% | +0.02 |
| AMAT Applied Materials Inc. | Add +6.6% | 0.19% | +0.02 |
| PWR Quanta Services Inc. | Add +23.2% | 0.05% | +0.01 |
| NOW ServiceNow Inc. | Add +3.7% | 0.18% | +0.01 |
| DIS The Walt Disney Co. | Add +5.0% | 0.20% | +0.01 |
| APO Apollo Global Management Inc. | Add +53.7% | 0.06% | +0.01 |
| VST Vistra Corp. | Add +5.9% | 0.04% | +0.01 |
| MSTR Strategy Inc. | Add +16.6% | 0.05% | +0.01 |
| BKNG Booking Holdings Inc. | Add +3.0% | 0.24% | +0.01 |
| IBM Intl Business Machines Corp. | Add +8.3% | 0.27% | +0.01 |
| ANET Arista Networks Inc. | Add +6.0% | 0.09% | +0.01 |
| EXE Expand Energy Corp. | Add +90.0% | 0.03% | +0.01 |
| DELL Dell Technologies -C | Add +38.1% | 0.03% | +0.01 |
| EMR Emerson Electric Co. | Add +21.4% | 0.06% | +0.01 |
| MELI MercadoLibre Inc. | Add +9.2% | 0.06% | +0.01 |
| GE General Electric | Add +0.1% | 0.22% | +0.01 |
| MCHP Microchip Technology Inc. | Add +5.0% | 0.05% | +0.01 |
| HWM Howmet Aerospace Inc. | Add +2.5% | 0.05% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 567 | $10.3B | SPY, IVV, VOO, VTI, ITOT |
| Q1 2026 | 560 | $8.6B | SPY, VOO, ITOT, NVDA, IVV |
| Q4 2025 | 564 | $8.6B | SPY, ITOT, NVDA, QQQ, IVV |
| Q3 2025 | 567 | $7.5B | SPY, ITOT, NVDA, QQQ, IVV |
| Q2 2025 | 567 | $6.7B | SPY, ITOT, QQQ, MSFT, IVV |
| Q1 2025 | 560 | $5.4B | SPY, IVV, QQQ, SPYM, AAPL |
| Q4 2024 | 556 | $4.7B | SPY, IVV, QQQ, AAPL, MSFT |
| Q3 2024 | 552 | $4.2B | SPY, MSFT, AAPL, IVV, NVDA |
| Q2 2024 | 542 | $3.5B | SPY, MSFT, AAPL, NVDA, GOVT |
| Q1 2024 | 550 | $3.3B | SPY, MSFT, AAPL, NVDA, AMZN |