Norinchukin Bank, The
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Norinchukin Bank, The reported 560 stock positions worth $8.6 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 9.4% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 5.1%) and iShares Core S&P Total U.S. (ITOT, 3.7%). Compared with Q4 2025, it opened 5 new positions, sold out of 9, added to 300 and reduced 244. The biggest buy was Vanguard S&P 500 ETF (VOO, shares +63%) and the biggest sale S&P Global (SPGI, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- TOKYO, M0
- CIK
- 0001496637
- Portfolio Value
- $8.6B (Q1 2026)
- SEC Filing
- 0000905148-26-002338 ↗ filed May 15, 2026
Holdings Value
Holdings 560 stocks · $8.6B
| SPY SS SPDR S&P 500 ETF Trust-US | 9.36% | 1,233,000 | $801.9M | No change |
| VOO Vanguard S&P 500 ETF | 5.11% | 733,080 | $438.1M | Add +62.9% |
| ITOT iShares Core S&P Total U.S. | 3.73% | 2,246,560 | $320.0M | No change |
| NVDA Nvidia Corp. | 3.71% | 1,821,137 | $317.6M | Add +2.0% |
| IVV iShares Core S&P 500 ETF | 3.64% | 477,180 | $311.7M | Add +6.3% |
| QQQ Invesco QQQ Trust Series 1 | 3.49% | 518,000 | $299.0M | No change |
| BBUS JPMorgan Betabuilders US Equ | 3.36% | 2,459,000 | $288.1M | No change |
| AAPL Apple Inc. | 3.22% | 1,086,823 | $275.8M | Add +1.3% |
| VTI VG Morningstar TS MKT ETF-US | 3.18% | 850,500 | $272.8M | Add +7.6% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 3.14% | 3,511,270 | $268.8M | No change |
| SCHX Schwab US Large-Cap ETF | 3.05% | 10,180,000 | $261.0M | No change |
| MSFT Microsoft Corp. | 2.67% | 617,893 | $228.7M | Add +4.3% |
| QQQM Invesco Nasdaq 100 ETF | 2.28% | 823,000 | $195.6M | Add +112.7% |
| AMZN Amazon.com Inc. | 2.18% | 896,961 | $186.8M | Add +3.8% |
| GOVT iShares US Treasury Bond ETF | 1.65% | 6,158,350 | $141.1M | Reduce -1.7% |
| GOOGL Alphabet Inc. Class A | 1.41% | 420,592 | $120.9M | Add +1.9% |
| AVGO Broadcom Inc. | 1.25% | 346,329 | $107.2M | Add +2.5% |
| GOOG Alphabet Inc. Class C | 1.17% | 348,126 | $99.9M | Add +2.6% |
| META Meta Platforms Inc. Class A | 1.11% | 165,928 | $94.9M | Add +2.7% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 1.05% | 300,000 | $89.7M | No change |
| TSLA Tesla Inc. | 1.02% | 235,756 | $87.6M | Add +6.0% |
| COST Costco Wholesale Corp. | 0.98% | 84,074 | $83.8M | Reduce -2.2% |
| V Visa Inc. Class A | 0.92% | 259,521 | $78.4M | Add +3.9% |
| WMT Walmart Inc. | 0.65% | 445,287 | $55.3M | Add +67.2% |
| TXN Texas Instruments Inc. | 0.59% | 261,257 | $50.7M | Reduce -18.8% |
| JPM JPMorgan Chase & Co. | 0.59% | 172,155 | $50.6M | Reduce -1.4% |
| ZTS Zoetis Inc. | 0.55% | 400,698 | $47.4M | Reduce -0.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.55% | 97,613 | $46.8M | Add +0.4% |
| SPGI S&P Global Inc. | 0.54% | 109,488 | $46.6M | Reduce -1.1% |
| LIN Linde PLC | 0.54% | 93,673 | $46.4M | Reduce -12.5% |
| LLY Eli Lilly & Co. | 0.51% | 47,144 | $43.4M | Reduce -0.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.47% | 253,549 | $40.5M | Reduce -3.4% |
| NFLX Netflix Inc. | 0.46% | 412,431 | $39.7M | Add +3.2% |
| JNJ Johnson & Johnson | 0.44% | 155,030 | $37.9M | Reduce -0.7% |
| DE Deere & Co. | 0.42% | 63,873 | $36.0M | Reduce -15.8% |
| XOM Exxon Mobil Corp. | 0.41% | 206,441 | $35.0M | Add +0.9% |
| PLTR Palantir Technologies Inc. Class A | 0.40% | 235,005 | $34.4M | Add +3.6% |
| MU Micron Technology Inc. | 0.40% | 101,669 | $34.3M | Add +4.3% |
| SHW The Sherwin-Williams Co. | 0.39% | 104,818 | $33.6M | Reduce -4.5% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.37% | 202,426 | $32.0M | Add +9.8% |
| EW Edwards Lifesciences Corp. | 0.37% | 395,023 | $31.6M | Add +3.4% |
| AMD Advanced Micro Devices | 0.37% | 154,816 | $31.5M | Add +4.1% |
| VRSK Verisk Analytics Inc. | 0.36% | 163,480 | $31.0M | Add +3.2% |
| FAST Fastenal Co. | 0.36% | 660,445 | $30.6M | Reduce -3.1% |
| CSCO Cisco Systems Inc. | 0.35% | 390,623 | $30.3M | Add +3.5% |
| SCI Service Corp. International | 0.34% | 355,014 | $29.3M | Reduce -4.3% |
| CHD Church & Dwight Co. Inc. | 0.34% | 310,992 | $29.0M | Reduce -14.2% |
| APH Amphenol Corp. Class A | 0.34% | 229,073 | $28.9M | Add +4.3% |
| RMD Resmed Inc. | 0.34% | 127,946 | $28.7M | Add +4.6% |
| TSCO Tractor Supply Company | 0.32% | 606,234 | $27.5M | Add +5.7% |
| CVX Chevron Corp. | 0.32% | 131,547 | $27.2M | Reduce -1.7% |
| CTAS Cintas Corp. | 0.32% | 160,164 | $27.1M | Add +1.7% |
| AMAT Applied Materials Inc. | 0.31% | 77,818 | $26.6M | Add +3.5% |
| MKC McCormick & Co.-Non VTG SHRS | 0.31% | 522,157 | $26.3M | Add +14.6% |
| CAT Caterpillar Inc. | 0.30% | 36,592 | $25.9M | Reduce -3.4% |
| LRCX Lam Research Corp. | 0.30% | 120,507 | $25.7M | Add +3.3% |
| ITW Illinois Tool Works | 0.30% | 98,623 | $25.7M | Reduce -10.7% |
| MA Mastercard Inc. Class A | 0.30% | 51,328 | $25.6M | Reduce -0.5% |
| ABBV Abbvie Inc. | 0.27% | 108,035 | $23.5M | Add +0.1% |
| HD Home Depot Inc. | 0.27% | 69,447 | $22.8M | Reduce -2.3% |
| TW Tradeweb Markets Inc. Class A | 0.27% | 193,898 | $22.8M | Reduce -9.3% |
| STE Steris PLC | 0.26% | 101,382 | $22.4M | Add +5.5% |
| GS Goldman Sachs Group Inc. | 0.26% | 26,032 | $22.0M | Reduce -4.3% |
| AMGN Amgen Inc. | 0.25% | 60,886 | $21.4M | Add +1.1% |
| PG The Procter & Gamble Co. | 0.25% | 145,753 | $21.1M | Reduce -1.3% |
| KO The Coca-Cola Co. | 0.23% | 263,359 | $20.0M | Reduce -0.5% |
| INTC Intel Corp. | 0.23% | 449,476 | $19.8M | Add +9.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.23% | 404,757 | $19.7M | Reduce -1.1% |
| PEP Pepsico Inc. | 0.23% | 125,685 | $19.5M | Add +3.8% |
| KLAC KLA Corp. | 0.22% | 12,648 | $18.6M | Add +3.6% |
| GE General Electric filed as GE AEROSPACE | 0.22% | 65,016 | $18.4M | Reduce -0.5% |
| MRK Merck & Co. Inc. | 0.22% | 153,343 | $18.4M | Reduce -0.7% |
| UNH Unitedhealth Group Inc. | 0.21% | 65,264 | $17.7M | Reduce -1.7% |
| NKE Nike Inc. Class B | 0.20% | 331,733 | $17.5M | Add +39.6% |
| RTX RTX Corp. | 0.20% | 88,624 | $17.1M | Add +0.2% |
| ROL Rollins Inc. | 0.20% | 314,748 | $16.8M | Add +0.6% |
| GILD Gilead Sciences Inc. | 0.19% | 119,373 | $16.6M | Add +3.7% |
| ISRG Intuitive Surgical Inc. | 0.19% | 35,047 | $16.2M | Add +3.7% |
| PM Philip Morris International | 0.19% | 97,145 | $16.1M | Add +0.0% |
| HON Honeywell International Inc. | 0.19% | 70,413 | $15.9M | Add +1.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.18% | 64,733 | $15.7M | Reduce -1.7% |
| MCD McDonald's Corp. | 0.18% | 50,442 | $15.7M | Reduce -2.1% |
| ADI Analog Devices Inc. | 0.17% | 46,386 | $14.8M | Add +3.3% |
| TMUS T-Mobile US Inc. | 0.17% | 69,357 | $14.6M | Add +4.0% |
| ORCL Oracle Corp. | 0.17% | 98,276 | $14.5M | Add +1.0% |
| GEV GE Vernova Inc. | 0.16% | 16,163 | $14.1M | Reduce -0.5% |
| WFC Wells Fargo & Co. | 0.16% | 177,001 | $14.1M | Reduce -0.7% |
| PLD Prologis Inc. | 0.16% | 104,395 | $13.8M | Reduce -1.1% |
| WELL Welltower Inc. | 0.16% | 69,570 | $13.8M | Add +0.7% |
| CPRT Copart Inc. | 0.16% | 411,694 | $13.7M | Add +13.1% |
| BKNG Booking Holdings Inc. | 0.16% | 3,226 | $13.6M | Add +2.7% |
| VZ Verizon Communications Inc. | 0.16% | 269,069 | $13.5M | Reduce -0.2% |
| QCOM Qualcomm Inc. | 0.15% | 102,954 | $13.3M | Add +3.4% |
| PANW Palo Alto Networks Inc. | 0.15% | 82,438 | $13.2M | Add +22.0% |
| NEE Nextera Energy Inc. | 0.15% | 137,461 | $12.8M | Add +0.1% |
| UBER Uber Technologies Inc. | 0.15% | 173,263 | $12.5M | Reduce -1.0% |
| INTU Intuit Inc. | 0.14% | 28,700 | $12.4M | Add +3.1% |
| AXP American Express Co. | 0.14% | 40,959 | $12.4M | Reduce -2.9% |
| CRM Salesforce Inc. | 0.14% | 64,880 | $12.1M | Reduce -3.0% |
| C Citigroup Inc. | 0.14% | 106,584 | $12.1M | Reduce -2.2% |
Portfolio Sells Q4 2025 → Q1 2026
| SPGI S&P Global Inc. | Reduce -1.1% | 0.54% | −0.13 |
| LLY Eli Lilly & Co. | Reduce -0.1% | 0.51% | −0.09 |
| CRM Salesforce Inc. | Reduce -3.0% | 0.14% | −0.07 |
| JPM JPMorgan Chase & Co. | Reduce -1.4% | 0.59% | −0.06 |
| TXN Texas Instruments Inc. | Reduce -18.8% | 0.59% | −0.06 |
| UNH Unitedhealth Group Inc. | Reduce -1.7% | 0.21% | −0.05 |
| IBM Intl Business Machines Corp. | Reduce -1.7% | 0.18% | −0.04 |
| MA Mastercard Inc. Class A | Reduce -0.5% | 0.30% | −0.04 |
| ZTS Zoetis Inc. | Reduce -0.7% | 0.55% | −0.04 |
| AXP American Express Co. | Reduce -2.9% | 0.14% | −0.04 |
| GOVT iShares US Treasury Bond ETF | Reduce -1.7% | 1.65% | −0.03 |
| ACN Accenture PLC Class A | Reduce -0.6% | 0.09% | −0.03 |
| BAC Bank of America Corp. | Reduce -1.1% | 0.23% | −0.03 |
| WFC Wells Fargo & Co. | Reduce -0.7% | 0.16% | −0.03 |
| COF Capital One Financial Corp. | Reduce -1.6% | 0.08% | −0.03 |
| DIS The Walt Disney Co. | Reduce -1.8% | 0.13% | −0.03 |
| SHW The Sherwin-Williams Co. | Reduce -4.5% | 0.39% | −0.02 |
| GS Goldman Sachs Group Inc. | Reduce -4.3% | 0.26% | −0.02 |
| UBER Uber Technologies Inc. | Reduce -1.0% | 0.15% | −0.02 |
| AZN Astrazeneca PLC-Spons ADR | Sold out | 0.00% | −0.02 |
| GE General Electric | Reduce -0.5% | 0.22% | −0.02 |
| HD Home Depot Inc. | Reduce -2.3% | 0.27% | −0.02 |
| ITW Illinois Tool Works | Reduce -10.7% | 0.30% | −0.02 |
| CHD Church & Dwight Co. Inc. | Reduce -14.2% | 0.34% | −0.02 |
| BA The Boeing Co. | Reduce -1.6% | 0.14% | −0.01 |
| MS Morgan Stanley | Reduce -0.3% | 0.14% | −0.01 |
| ELV Elevance Health Inc. | Reduce -0.9% | 0.05% | −0.01 |
| DAY Dayforce Inc. | Sold out | 0.00% | −0.01 |
| MTCH Match Group Inc. | Sold out | 0.00% | −0.01 |
| COIN Coinbase Global Inc. Class A | Reduce -1.6% | 0.03% | −0.01 |
| MMM 3M Co. | Reduce -4.3% | 0.05% | −0.01 |
| C Citigroup Inc. | Reduce -2.2% | 0.14% | −0.01 |
| AJG Arthur J Gallagher & Co. | Reduce -0.3% | 0.04% | −0.01 |
| MOH Molina Healthcare Inc. | Sold out | 0.00% | −0.01 |
| PAYC Paycom Software Inc. | Sold out | 0.00% | −0.01 |
| BDX Becton Dickinson and Co. | Reduce -0.5% | 0.03% | −0.01 |
| GM General Motors Co. | Reduce -2.9% | 0.05% | −0.01 |
| CBRE CBRE Group Inc. Class A | Reduce -0.5% | 0.03% | −0.01 |
| CMG Chipotle Mexican Grill Inc. | Reduce -1.9% | 0.03% | −0.01 |
| TRV The Travelers Cos Inc. | Reduce -7.1% | 0.07% | −0.01 |
| EXPE Expedia Group Inc. | Reduce -0.2% | 0.02% | −0.00 |
| IT Gartner Inc. | Reduce -0.9% | 0.01% | −0.00 |
| MRSH Marsh & McLennan Cos | Reduce -1.7% | 0.05% | −0.00 |
| TTD Trade Desk Inc./the Class A | Reduce -0.1% | 0.01% | −0.00 |
| SYF Synchrony Financial | Reduce -3.3% | 0.02% | −0.00 |
| LULU Lululemon Athletica Inc. | Reduce -0.6% | 0.01% | −0.00 |
| UAL United Airlines Holdings Inc. | Reduce -7.8% | 0.01% | −0.00 |
| AON Aon PLC Class A | Reduce -0.7% | 0.05% | −0.00 |
| URI United Rentals Inc. | Reduce -1.2% | 0.04% | −0.00 |
| AIG American International Group | Reduce -0.1% | 0.03% | −0.00 |
Portfolio Buys Q4 2025 → Q1 2026
| VOO Vanguard S&P 500 ETF | Add +62.9% | 5.11% | +1.82 |
| QQQM Invesco Nasdaq 100 ETF | Add +112.7% | 2.28% | +1.14 |
| WMT Walmart Inc. | Add +67.2% | 0.65% | +0.30 |
| XOM Exxon Mobil Corp. | Add +0.9% | 0.41% | +0.12 |
| VTI VG Morningstar TS MKT ETF-US | Add +7.6% | 3.18% | +0.10 |
| AMAT Applied Materials Inc. | Add +3.5% | 0.31% | +0.09 |
| MU Micron Technology Inc. | Add +4.3% | 0.40% | +0.08 |
| LRCX Lam Research Corp. | Add +3.3% | 0.30% | +0.07 |
| INTC Intel Corp. | Add +9.0% | 0.23% | +0.05 |
| IVV iShares Core S&P 500 ETF | Add +6.3% | 3.64% | +0.05 |
| SNDK Sandisk Corp. | Add +53.3% | 0.06% | +0.05 |
| VRT Vertiv Holdings Co. Class A | New | 0.04% | +0.04 |
| KLAC KLA Corp. | Add +3.6% | 0.22% | +0.04 |
| WDC Western Digital Corp. | Add +2.7% | 0.10% | +0.04 |
| CIEN Ciena Corp. | New | 0.04% | +0.04 |
| STX Seagate Technology Holdings | Add +4.8% | 0.09% | +0.03 |
| ADI Analog Devices Inc. | Add +3.3% | 0.17% | +0.03 |
| GILD Gilead Sciences Inc. | Add +3.7% | 0.19% | +0.03 |
| CSX CSX Corp. | Add +28.6% | 0.09% | +0.03 |
| HON Honeywell International Inc. | Add +1.5% | 0.19% | +0.03 |
| NKE Nike Inc. Class B | Add +39.6% | 0.20% | +0.03 |
| NFLX Netflix Inc. | Add +3.2% | 0.46% | +0.03 |
| FDX FedEx Corp. | Add +42.0% | 0.06% | +0.03 |
| PEP Pepsico Inc. | Add +3.8% | 0.23% | +0.03 |
| GLW Corning Inc. | Add +0.8% | 0.07% | +0.02 |
| BKR Baker Hughes Co. | Add +3.0% | 0.09% | +0.02 |
| LITE Lumentum Holdings Inc. | New | 0.02% | +0.02 |
| FIX Comfort Systems USA Inc. | Add +61.8% | 0.04% | +0.02 |
| COHR Coherent Corp. | New | 0.02% | +0.02 |
| NEE Nextera Energy Inc. | Add +0.1% | 0.15% | +0.02 |
| AMGN Amgen Inc. | Add +1.1% | 0.25% | +0.02 |
| PSX Phillips 66 | Add +0.1% | 0.06% | +0.02 |
| SLB SLB Ltd. | Add +0.2% | 0.07% | +0.02 |
| ODFL Old Dominion Freight Line | Add +25.0% | 0.04% | +0.02 |
| ROST Ross Stores Inc. | Add +2.4% | 0.08% | +0.02 |
| CSCO Cisco Systems Inc. | Add +3.5% | 0.35% | +0.02 |
| FANG Diamondback Energy Inc. | Add +3.5% | 0.05% | +0.01 |
| PWR Quanta Services Inc. | Add +0.3% | 0.06% | +0.01 |
| AEP American Electric Power | Add +4.7% | 0.09% | +0.01 |
| ASML ASML Holding NV-NY Reg SHS | Add +10.1% | 0.05% | +0.01 |
| MPWR Monolithic Power Systems Inc. | Add +6.2% | 0.06% | +0.01 |
| PFE Pfizer Inc. | Add +0.2% | 0.11% | +0.01 |
| TMUS T-Mobile US Inc. | Add +4.0% | 0.17% | +0.01 |
| TER Teradyne Inc. | Add +0.1% | 0.03% | +0.01 |
| SBUX Starbucks Corp. | Add +3.8% | 0.12% | +0.01 |
| WELL Welltower Inc. | Add +0.7% | 0.16% | +0.01 |
| RTX RTX Corp. | Add +0.2% | 0.20% | +0.01 |
| MO Altria Group Inc. | Add +0.0% | 0.08% | +0.01 |
| BMY Bristol-Myers Squibb Co. | Add +0.2% | 0.09% | +0.01 |
| KEYS Keysight Technologies Inc. | Add +0.3% | 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 |