Norinchukin Bank, The
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Norinchukin Bank, The reported 567 stock positions worth $7.5 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 11.0% of the portfolio, followed by iShares Core S&P Total U.S. (ITOT, 4.4%) and Nvidia (NVDA, 4.2%). Compared with Q2 2025, it opened 10 new positions, sold out of 10, added to 365 and reduced 184. The biggest buy was a new position in VG Morningstar TS MKT ETF-US (VTI) and the biggest sale Microsoft (MSFT, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- TOKYO, M0
- CIK
- 0001496637
- Portfolio Value
- $7.5B (Q3 2025)
- SEC Filing
- 0000905148-25-003989 ↗ filed Nov 14, 2025
Holdings Value
Holdings 567 stocks · $7.5B
| SPY SS SPDR S&P 500 ETF Trust-US | 11.02% | 1,233,000 | $821.4M | No change |
| ITOT iShares Core S&P Total U.S. | 4.39% | 2,246,560 | $327.2M | No change |
| NVDA Nvidia Corp. | 4.19% | 1,675,882 | $312.7M | Add +4.5% |
| QQQ Invesco QQQ Trust Series 1 | 4.17% | 518,000 | $311.0M | No change |
| IVV iShares Core S&P 500 ETF | 4.03% | 448,980 | $300.5M | No change |
| MSFT Microsoft Corp. | 3.94% | 566,944 | $293.6M | Reduce -0.2% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 3.69% | 3,511,270 | $275.1M | No change |
| AAPL Apple Inc. | 3.46% | 1,011,957 | $257.7M | Reduce -0.0% |
| VTI VG Morningstar TS MKT ETF-US | 3.03% | 687,500 | $225.6M | New |
| VOO Vanguard S&P 500 ETF | 2.98% | 362,580 | $222.0M | No change |
| AMZN Amazon.com Inc. | 2.46% | 836,050 | $183.6M | Add +1.3% |
| GOVT iShares US Treasury Bond ETF | 1.85% | 5,958,600 | $137.8M | Add +3.6% |
| AVGO Broadcom Inc. | 1.55% | 350,725 | $115.7M | Add +4.1% |
| META Meta Platforms Inc. Class A | 1.41% | 143,016 | $105.0M | Add +3.0% |
| GOOGL Alphabet Inc. Class A | 1.27% | 388,360 | $94.4M | Add +2.3% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 1.24% | 300,000 | $92.4M | No change |
| TSLA Tesla Inc. | 1.19% | 199,844 | $88.9M | Add +2.6% |
| V Visa Inc. Class A | 1.15% | 251,276 | $85.8M | Add +2.8% |
| GOOG Alphabet Inc. Class C | 1.05% | 320,584 | $78.1M | Reduce -0.6% |
| COST Costco Wholesale Corp. | 0.92% | 73,951 | $68.5M | Add +4.3% |
| TXN Texas Instruments Inc. | 0.77% | 311,926 | $57.3M | Add +5.0% |
| SPGI S&P Global Inc. | 0.73% | 111,420 | $54.2M | Reduce -1.5% |
| ZTS Zoetis Inc. | 0.71% | 360,648 | $52.8M | Add +12.0% |
| JPM JPMorgan Chase & Co. | 0.70% | 165,715 | $52.3M | Add +0.3% |
| LIN Linde PLC | 0.63% | 99,396 | $47.2M | Add +0.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.62% | 92,237 | $46.4M | Reduce -2.1% |
| APH Amphenol Corp. Class A | 0.59% | 357,407 | $44.2M | Reduce -33.8% |
| NFLX Netflix Inc. | 0.58% | 36,154 | $43.3M | Add +0.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.57% | 293,989 | $42.5M | Reduce -5.0% |
| EW Edwards Lifesciences Corp. | 0.54% | 518,511 | $40.3M | Add +2.4% |
| SHW The Sherwin-Williams Co. | 0.51% | 109,407 | $37.9M | Add +2.2% |
| VRSK Verisk Analytics Inc. | 0.50% | 147,685 | $37.1M | Add +19.1% |
| PLTR Palantir Technologies Inc. Class A | 0.50% | 203,079 | $37.0M | Add +8.2% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.47% | 237,740 | $35.4M | Add +18.9% |
| DE Deere & Co. | 0.47% | 76,293 | $34.9M | Add +2.8% |
| LLY Eli Lilly & Co. | 0.45% | 44,389 | $33.9M | Add +3.7% |
| SCI Service Corp. International | 0.44% | 392,618 | $32.7M | Add +2.9% |
| RMD Resmed Inc. | 0.44% | 118,757 | $32.5M | Reduce -8.7% |
| TSCO Tractor Supply Company | 0.43% | 563,458 | $32.0M | Reduce -7.8% |
| MKC McCormick & Co.-Non VTG SHRS | 0.43% | 474,658 | $31.8M | Add +14.0% |
| FAST Fastenal Co. | 0.42% | 638,449 | $31.3M | Reduce -9.8% |
| CHD Church & Dwight Co. Inc. | 0.41% | 348,054 | $30.5M | Add +7.4% |
| QQQM Invesco Nasdaq 100 ETF | 0.39% | 119,000 | $29.4M | Add +32.2% |
| ITW Illinois Tool Works | 0.39% | 111,130 | $29.0M | Reduce -0.7% |
| MA Mastercard Inc. Class A | 0.37% | 48,432 | $27.5M | Add +1.2% |
| JNJ Johnson & Johnson | 0.36% | 146,514 | $27.2M | Add +0.0% |
| HD Home Depot Inc. | 0.36% | 66,629 | $27.0M | Reduce -1.4% |
| STE Steris PLC | 0.35% | 106,591 | $26.4M | Add +4.8% |
| WMT Walmart Inc. | 0.35% | 251,834 | $26.0M | Add +2.9% |
| ORCL Oracle Corp. | 0.34% | 90,421 | $25.4M | Add +6.2% |
| CTAS Cintas Corp. | 0.32% | 115,871 | $23.8M | Add +39.8% |
| CSCO Cisco Systems Inc. | 0.31% | 342,759 | $23.5M | Reduce -0.0% |
| ABBV Abbvie Inc. | 0.31% | 100,937 | $23.4M | Add +2.0% |
| XOM Exxon Mobil Corp. | 0.31% | 201,968 | $22.8M | Reduce -1.1% |
| AMD Advanced Micro Devices | 0.29% | 133,917 | $21.7M | Add +1.6% |
| UNH Unitedhealth Group Inc. | 0.29% | 62,442 | $21.6M | Reduce -11.5% |
| PG The Procter & Gamble Co. | 0.29% | 139,897 | $21.5M | Add +1.1% |
| GS Goldman Sachs Group Inc. | 0.28% | 26,217 | $20.9M | Reduce -6.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.27% | 388,703 | $20.1M | Add +7.1% |
| ROL Rollins Inc. | 0.27% | 339,808 | $20.0M | Reduce -3.9% |
| CVX Chevron Corp. | 0.26% | 126,603 | $19.7M | Add +15.6% |
| GE General Electric filed as GE AEROSPACE | 0.25% | 61,418 | $18.5M | Add +5.4% |
| TW Tradeweb Markets Inc. Class A | 0.24% | 158,497 | $17.6M | Add +77.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.23% | 61,978 | $17.5M | Reduce -0.2% |
| CAT Caterpillar Inc. | 0.23% | 36,062 | $17.2M | Reduce -3.2% |
| INTU Intuit Inc. | 0.23% | 25,039 | $17.1M | Add +3.7% |
| NKE Nike Inc. Class B | 0.22% | 234,614 | $16.4M | Add +0.3% |
| KO The Coca-Cola Co. | 0.22% | 246,366 | $16.3M | Add +1.6% |
| AMGN Amgen Inc. | 0.21% | 55,131 | $15.6M | Reduce -2.5% |
| UBER Uber Technologies Inc. | 0.21% | 158,303 | $15.5M | Add +3.3% |
| PEP Pepsico Inc. | 0.21% | 110,257 | $15.5M | Reduce -0.8% |
| BKNG Booking Holdings Inc. | 0.21% | 2,840 | $15.3M | Add +1.0% |
| CPRT Copart Inc. | 0.20% | 337,558 | $15.2M | Add +3.3% |
| CRM Salesforce Inc. | 0.20% | 63,489 | $15.0M | Reduce -3.0% |
| QCOM Qualcomm Inc. | 0.20% | 90,401 | $15.0M | Reduce -2.2% |
| MCD McDonald's Corp. | 0.20% | 49,051 | $14.9M | Reduce -3.0% |
| MU Micron Technology Inc. | 0.20% | 88,212 | $14.8M | Add +1.3% |
| PM Philip Morris International | 0.20% | 90,777 | $14.7M | Add +3.6% |
| WFC Wells Fargo & Co. | 0.19% | 172,205 | $14.4M | Add +0.2% |
| LRCX Lam Research Corp. | 0.19% | 106,075 | $14.2M | Add +0.1% |
| TMUS T-Mobile US Inc. | 0.19% | 59,177 | $14.2M | Reduce -1.7% |
| AMAT Applied Materials Inc. | 0.19% | 68,077 | $13.9M | Reduce -0.8% |
| APP AppLovin Corp. Class A | 0.19% | 19,389 | $13.9M | Add +111.5% |
| ISRG Intuitive Surgical Inc. | 0.18% | 30,772 | $13.8M | Reduce -3.3% |
| ADBE Adobe Inc. | 0.18% | 38,764 | $13.7M | Reduce -5.5% |
| RTX RTX Corp. | 0.18% | 81,711 | $13.7M | Add +4.8% |
| AXP American Express Co. | 0.18% | 40,349 | $13.4M | Reduce -4.4% |
| HON Honeywell International Inc. | 0.18% | 63,520 | $13.4M | Reduce -3.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.17% | 109,861 | $12.6M | Add +0.9% |
| MRK Merck & Co. Inc. | 0.17% | 146,908 | $12.3M | Reduce -0.0% |
| PANW Palo Alto Networks Inc. | 0.16% | 59,042 | $12.0M | Add +1.9% |
| KLAC KLA Corp. | 0.16% | 11,069 | $11.9M | Add +0.6% |
| INTC Intel Corp. | 0.16% | 355,615 | $11.9M | Reduce -1.2% |
| BA The Boeing Co. | 0.16% | 55,093 | $11.9M | Add +0.5% |
| WELL Welltower Inc. | 0.16% | 66,615 | $11.9M | Add +8.6% |
| ABT Abbott Laboratories | 0.16% | 87,290 | $11.7M | Add +3.9% |
| PLD Prologis Inc. | 0.16% | 102,086 | $11.7M | Add +1.3% |
| GILD Gilead Sciences Inc. | 0.16% | 104,163 | $11.6M | Add +1.2% |
| ADP Automatic Data Processing | 0.15% | 39,139 | $11.5M | Add +1.8% |
| NOW ServiceNow Inc. | 0.15% | 12,448 | $11.5M | Add +4.4% |
Portfolio Sells Q2 2025 → Q3 2025
| MSFT Microsoft Corp. | Reduce -0.2% | 3.94% | −0.27 |
| APH Amphenol Corp. Class A | Reduce -33.8% | 0.59% | −0.20 |
| A Agilent Technologies Inc. | Reduce -87.5% | 0.03% | −0.19 |
| SPGI S&P Global Inc. | Reduce -1.5% | 0.73% | −0.16 |
| ISRG Intuitive Surgical Inc. | Reduce -3.3% | 0.18% | −0.07 |
| CRM Salesforce Inc. | Reduce -3.0% | 0.20% | −0.06 |
| RMD Resmed Inc. | Reduce -8.7% | 0.44% | −0.06 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.1% | 0.62% | −0.06 |
| ADBE Adobe Inc. | Reduce -5.5% | 0.18% | −0.05 |
| TSCO Tractor Supply Company | Reduce -7.8% | 0.43% | −0.05 |
| HON Honeywell International Inc. | Reduce -3.6% | 0.18% | −0.05 |
| ACN Accenture PLC Class A | Reduce -2.2% | 0.13% | −0.05 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.04 |
| CSCO Cisco Systems Inc. | Reduce -0.0% | 0.31% | −0.04 |
| HES Hess Corp. | Sold out | 0.00% | −0.04 |
| UNH Unitedhealth Group Inc. | Reduce -11.5% | 0.29% | −0.04 |
| IBM Intl Business Machines Corp. | Reduce -0.2% | 0.23% | −0.04 |
| CMCSA Comcast Corp. Class A | Reduce -1.5% | 0.13% | −0.04 |
| FISV Fiserv Inc. | Reduce -4.8% | 0.05% | −0.03 |
| AXON Axon Enterprise Inc. | Reduce -12.2% | 0.06% | −0.03 |
| SNPS Synopsys Inc. | Reduce -9.1% | 0.11% | −0.03 |
| ROL Rollins Inc. | Reduce -3.9% | 0.27% | −0.03 |
| AMGN Amgen Inc. | Reduce -2.5% | 0.21% | −0.03 |
| CHTR Charter Communications Inc. Class A | Reduce -4.0% | 0.03% | −0.02 |
| TMUS T-Mobile US Inc. | Reduce -1.7% | 0.19% | −0.02 |
| ITW Illinois Tool Works | Reduce -0.7% | 0.39% | −0.02 |
| XOM Exxon Mobil Corp. | Reduce -1.1% | 0.31% | −0.02 |
| FAST Fastenal Co. | Reduce -9.8% | 0.42% | −0.02 |
| ECL Ecolab Inc. | Reduce -19.5% | 0.06% | −0.02 |
| FICO Fair Isaac Corp. | Reduce -23.5% | 0.03% | −0.02 |
| AXP American Express Co. | Reduce -4.4% | 0.18% | −0.02 |
| ELV Elevance Health Inc. | Reduce -1.1% | 0.06% | −0.02 |
| WM Waste Management Inc. | Reduce -20.9% | 0.04% | −0.02 |
| MCD McDonald's Corp. | Reduce -3.0% | 0.20% | −0.02 |
| PYPL PayPal Holdings Inc. | Reduce -2.0% | 0.07% | −0.02 |
| MDLZ Mondelez International Inc. Class A | Reduce -0.8% | 0.09% | −0.02 |
| CI The Cigna Group | Reduce -1.5% | 0.06% | −0.02 |
| QCOM Qualcomm Inc. | Reduce -2.2% | 0.20% | −0.02 |
| KDP Keurig Dr Pepper Inc. | Reduce -1.1% | 0.04% | −0.02 |
| ROP Roper Technologies Inc. | Reduce -0.2% | 0.06% | −0.02 |
| GS Goldman Sachs Group Inc. | Reduce -6.4% | 0.28% | −0.01 |
| DHR Danaher Corp. | Reduce -4.3% | 0.09% | −0.01 |
| MELI MercadoLibre Inc. | Reduce -4.2% | 0.05% | −0.01 |
| MSTR Strategy Inc. | Reduce -0.3% | 0.03% | −0.01 |
| TRV The Travelers Cos Inc. | Reduce -7.5% | 0.08% | −0.01 |
| MAR Marriott International Class A | Reduce -2.1% | 0.06% | −0.01 |
| SPSC SPS Commerce Inc. | Sold out | 0.00% | −0.01 |
| CTSH Cognizant Tech Solutions-A | Reduce -0.4% | 0.04% | −0.01 |
| MMM 3M Co. | Reduce -6.2% | 0.07% | −0.01 |
| CNC Centene Corp. | Reduce -6.5% | 0.01% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| VTI VG Morningstar TS MKT ETF-US | New | 3.03% | +3.03 |
| NVDA Nvidia Corp. | Add +4.5% | 4.19% | +0.42 |
| TSLA Tesla Inc. | Add +2.6% | 1.19% | +0.27 |
| GOOGL Alphabet Inc. Class A | Add +2.3% | 1.27% | +0.27 |
| AVGO Broadcom Inc. | Add +4.1% | 1.55% | +0.17 |
| APP AppLovin Corp. Class A | Add +111.5% | 0.19% | +0.14 |
| PLTR Palantir Technologies Inc. Class A | Add +8.2% | 0.50% | +0.12 |
| QQQM Invesco Nasdaq 100 ETF | Add +32.2% | 0.39% | +0.09 |
| ORCL Oracle Corp. | Add +6.2% | 0.34% | +0.06 |
| HOOD Robinhood Markets Inc. Class A | New | 0.06% | +0.06 |
| CTAS Cintas Corp. | Add +39.8% | 0.32% | +0.04 |
| TW Tradeweb Markets Inc. Class A | Add +77.9% | 0.24% | +0.04 |
| ABBV Abbvie Inc. | Add +2.0% | 0.31% | +0.04 |
| MU Micron Technology Inc. | Add +1.3% | 0.20% | +0.04 |
| LRCX Lam Research Corp. | Add +0.1% | 0.19% | +0.04 |
| DDOG Datadog Inc. Class A | Add +201.7% | 0.05% | +0.04 |
| WBD Warner Bros Discovery Inc. | Add +19.6% | 0.07% | +0.03 |
| JNJ Johnson & Johnson | Add +0.0% | 0.36% | +0.03 |
| XYZ Block Inc. | New | 0.03% | +0.03 |
| CVX Chevron Corp. | Add +15.6% | 0.26% | +0.03 |
| ANET Arista Networks Inc. | Add +4.4% | 0.12% | +0.03 |
| TRI Thomson Reuters Corp. | New | 0.03% | +0.03 |
| GE General Electric | Add +5.4% | 0.25% | +0.02 |
| WELL Welltower Inc. | Add +8.6% | 0.16% | +0.02 |
| NEM Newmont Corp. | Add +0.1% | 0.07% | +0.02 |
| IBKR Interactive Brokers Gro Class A | New | 0.02% | +0.02 |
| EME Emcor Group Inc. | New | 0.02% | +0.02 |
| RTX RTX Corp. | Add +4.8% | 0.18% | +0.01 |
| GLW Corning Inc. | Add +4.6% | 0.04% | +0.01 |
| WDC Western Digital Corp. | Add +6.7% | 0.03% | +0.01 |
| COIN Coinbase Global Inc. Class A | Add +50.6% | 0.06% | +0.01 |
| KLAC KLA Corp. | Add +0.6% | 0.16% | +0.01 |
| BAC Bank of America Corp. | Add +7.1% | 0.27% | +0.01 |
| STX Seagate Technology Holdings | Add +7.9% | 0.04% | +0.01 |
| GEV GE Vernova Inc. | Add +6.1% | 0.13% | +0.01 |
| AMD Advanced Micro Devices | Add +1.6% | 0.29% | +0.01 |
| C Citigroup Inc. | Add +1.8% | 0.14% | +0.01 |
| TMO Thermo Fisher Scientific Inc. | Add +0.9% | 0.13% | +0.01 |
| TTD Trade Desk Inc./the Class A | Add +178.9% | 0.02% | +0.01 |
| SPG Simon Property Group Inc. | Add +7.1% | 0.09% | +0.01 |
| DASH DoorDash Inc. Class A | Add +9.3% | 0.12% | +0.01 |
| BKR Baker Hughes Co. | Add +1.4% | 0.07% | +0.01 |
| TEL Te Connectivity PLC | Add +2.4% | 0.05% | +0.01 |
| CMI Cummins Inc. | Add +3.6% | 0.05% | +0.01 |
| PDD PDD Holdings Inc. | Add +8.5% | 0.04% | +0.01 |
| PSKY Paramount Skydance Class B | New | 0.01% | +0.01 |
| URI United Rentals Inc. | Add +1.9% | 0.05% | +0.01 |
| NOC Northrop Grumman Corp. | Add +1.6% | 0.07% | +0.01 |
| LHX L3HARRIS Technologies Inc. | Add +5.0% | 0.05% | +0.01 |
| VLO Valero Energy Corp. | Add +1.9% | 0.04% | +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 |