Ramirez Asset Management, Inc.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), Ramirez Asset Management, Inc. reported 389 stock positions worth $495.8 million. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 4.5% of the portfolio, followed by KB Financial Group Inc.-ADR (KB, 2.4%) and Icici Bank Ltd.-Spon ADR (IBN, 2.1%). Compared with Q4 2023, it opened 37 new positions, sold out of 28, added to 39 and reduced 120. The biggest buy was a new position in Softbank Group Corp.-Unsp ADR (SFTBY) and the biggest sale Shell PLC-ADR (SHEL, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001992110
- Portfolio Value
- $495.8M (Q1 2024)
- SEC Filing
- 0001992110-24-000004 ↗ filed May 14, 2024
Holdings Value
Holdings 389 stocks · $495.8M
| TSM Taiwan Semiconductor-SP ADR | 4.47% | 163,009 | $22.2M | Reduce -6.5% |
| KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC | 2.42% | 230,423 | $12.0M | Add +8.0% |
| IBN Icici Bank Ltd.-Spon ADR | 2.10% | 393,315 | $10.4M | Reduce -1.3% |
| SBLK Star Bulk Carriers Corp. | 1.69% | 350,818 | $8.4M | Reduce -7.7% |
| TCEHY Tencent Holdings Ltd.-Uns ADR | 1.67% | 213,601 | $8.3M | Add +5.1% |
| PDD PDD Holdings Inc. | 1.56% | 66,521 | $7.7M | Reduce -20.4% |
| SHG Shinhan Financial Group-ADR | 1.53% | 213,821 | $7.6M | Add +42.6% |
| SUZ Suzano SA - Spon ADR | 1.50% | 581,395 | $7.4M | Reduce -9.2% |
| SKM SK Telecom Co. Ltd.-Spon ADR | 1.45% | 332,927 | $7.2M | Reduce -7.4% |
| MSFT Microsoft Corp. | 1.43% | 16,851 | $7.1M | Reduce -5.6% |
| HDB HDFC Bank Ltd.-ADR | 1.39% | 123,173 | $6.9M | Reduce -9.3% |
| BABA Alibaba Group Holding-SP ADR | 1.29% | 88,472 | $6.4M | Add +13.9% |
| EMBJ Embraer SA-Spon ADR | 1.27% | 236,950 | $6.3M | Reduce -14.4% |
| FTI Technipfmc PLC | 1.26% | 248,232 | $6.2M | Add +20.5% |
| DTEGY Deutsche Telekom AG-Spon ADR | 1.23% | 251,573 | $6.1M | Reduce -4.5% |
| JBSAY JBS SA-Sponsored ADR | 1.23% | 711,957 | $6.1M | Reduce -8.4% |
| NVDA Nvidia Corp. | 1.19% | 6,532 | $5.9M | Reduce -6.7% |
| PBR Petroleo Brasileiro-Spon ADR | 1.14% | 372,642 | $5.7M | Reduce -8.5% |
| SIMO Silicon Motion Technol-ADR | 1.11% | 71,507 | $5.5M | Add +1.4% |
| ITUB Itau Unibanco H-Spon PRF ADR | 1.09% | 778,996 | $5.4M | Add +116.5% |
| SMFG Sumitomo Mitsui-Spons ADR | 1.07% | 449,293 | $5.3M | Add +20.1% |
| SFTBY Softbank Group Corp.-Unsp ADR | 1.06% | 178,098 | $5.3M | New |
| AAPL Apple Inc. | 1.03% | 29,877 | $5.1M | Reduce -5.9% |
| RNECY Renesas Electro-Unspon ADR | 1.03% | 573,970 | $5.1M | Add +22.7% |
| ASML ASML Holding NV-NY Reg SHS | 1.02% | 5,214 | $5.1M | Reduce -4.2% |
| HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC | 0.96% | 121,253 | $4.8M | Add +1.1% |
| MU Micron Technology Inc. | 0.96% | 40,175 | $4.7M | New |
| TTE Totalenergies SE -Spon ADR | 0.95% | 68,445 | $4.7M | Reduce -24.0% |
| ENGIY Engie-Spon ADR | 0.94% | 278,523 | $4.7M | New |
| TRMD Torm PLC-A | 0.93% | 132,242 | $4.6M | New |
| BYDDY BYD Co. Ltd.-Unsponsored ADR | 0.91% | 87,882 | $4.5M | Reduce -5.1% |
| BAESY Bae Systems PLC -Spon ADR | 0.91% | 65,966 | $4.5M | Reduce -5.5% |
| VEOEY Veolia Environnement-ADR | 0.87% | 265,587 | $4.3M | Reduce -4.7% |
| FUJIY Fujifilm Holdings-Unsp ADR | 0.87% | 62,677 | $4.3M | Reduce -5.0% |
| BIDU Baidu Inc. - Spon ADR | 0.85% | 39,916 | $4.2M | Reduce -4.8% |
| TECK Teck Resources Ltd.-CLS B | 0.81% | 87,483 | $4.0M | New |
| LIN Linde PLC | 0.77% | 8,244 | $3.8M | Reduce -4.2% |
| SZKMY Suzuki Motor Corp.-Uns ADR | 0.77% | 20,908 | $3.8M | Reduce -14.2% |
| UNCRY Unicredit SPA-ADR | 0.77% | 200,508 | $3.8M | Reduce -4.9% |
| DQJCY Pan Pacific Intern-Unsp ADR | 0.76% | 142,768 | $3.8M | Reduce -4.3% |
| GBOOY Grupo Fin Banorte-Spon ADR | 0.75% | 69,784 | $3.7M | Reduce -13.3% |
| PUK Prudential PLC-ADR | 0.75% | 191,835 | $3.7M | Reduce -2.0% |
| SSLZY Santos Ltd.-Sponsored ADR | 0.74% | 726,533 | $3.7M | Reduce -1.4% |
| AZN Astrazeneca PLC-Spons ADR | 0.72% | 52,988 | $3.6M | Reduce -4.4% |
| EADSY Airbus SE - Unsp ADR | 0.72% | 77,631 | $3.6M | Reduce -5.3% |
| WCN Waste Connections Inc. | 0.71% | 20,567 | $3.5M | Reduce -4.3% |
| RNMBY Rheinmetall AG-Unsp ADR | 0.71% | 31,265 | $3.5M | Reduce -5.3% |
| FCX Freeport-McMoran Inc. | 0.70% | 74,201 | $3.5M | Reduce -21.3% |
| AMZN Amazon.com Inc. | 0.69% | 18,934 | $3.4M | Reduce -7.4% |
| IFNNY Infineon Technologies-ADR | 0.68% | 99,686 | $3.4M | Reduce -2.2% |
| MPNGY Meituan - Unsp ADR | 0.68% | 136,179 | $3.4M | New |
| STLA Stellantis NV | 0.67% | 117,638 | $3.3M | Reduce -4.4% |
| ASX Ase Technology Holding -ADR | 0.66% | 296,678 | $3.3M | Reduce -13.4% |
| VIST Vista Energy Sab DE CV | 0.66% | 78,485 | $3.2M | New |
| HTHIY Hitachi Ltd. -ADR | 0.65% | 17,611 | $3.2M | Reduce -4.3% |
| META Meta Platforms Inc. Class A | 0.64% | 6,525 | $3.2M | Reduce -7.2% |
| NSRGY Nestle SA-Spons ADR | 0.64% | 29,714 | $3.2M | Reduce -3.7% |
| LVMUY LVMH Moet Hennessy-Unsp ADR | 0.63% | 17,258 | $3.1M | Reduce -3.8% |
| FRO Frontline PLC | 0.62% | 132,243 | $3.1M | New |
| SCBFY Standard Chartered- Unsp ADR | 0.62% | 181,572 | $3.1M | Reduce -13.3% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.61% | 23,626 | $3.0M | Add +45.2% |
| JPM JPMorgan Chase & Co. | 0.61% | 15,127 | $3.0M | Add +6.1% |
| GOOG Alphabet Inc. Class C | 0.60% | 19,576 | $3.0M | Reduce -2.3% |
| AXAHY AXA -Spons ADR filed as AXA ADR | 0.57% | 75,117 | $2.8M | Reduce -3.6% |
| CMBT CMB Tech NV filed as EURONAV NV | 0.57% | 169,635 | $2.8M | Reduce -4.3% |
| SDZNY Sandoz Group AG-ADR | 0.57% | 92,889 | $2.8M | Add +52.6% |
| GOOGL Alphabet Inc. Class A | 0.56% | 18,356 | $2.8M | Reduce -9.9% |
| ESLT Elbit Systems Ltd. | 0.54% | 12,766 | $2.7M | Reduce -4.9% |
| KEP Korea Elec Power Corp.-SP ADR | 0.54% | 319,976 | $2.7M | New |
| BDORY Banco Do Brasil SA-Spon ADR | 0.52% | 228,266 | $2.6M | Reduce -11.5% |
| KLAC KLA Corp. | 0.52% | 3,695 | $2.6M | Reduce -3.9% |
| V Visa Inc. Class A | 0.52% | 9,195 | $2.6M | Reduce -6.6% |
| ESAIY Eisai Co. Ltd. | 0.51% | 244,527 | $2.5M | New |
| CAT Caterpillar Inc. | 0.50% | 6,788 | $2.5M | Reduce -4.1% |
| LNSTY London Stock Exchg-Unsp ADR | 0.48% | 80,111 | $2.4M | Reduce -3.9% |
| IWF iShares Russell 1000 Growth | 0.48% | 7,050 | $2.4M | No change |
| MRK Merck & Co. Inc. | 0.47% | 17,768 | $2.3M | No change |
| SNPS Synopsys Inc. | 0.45% | 3,864 | $2.2M | Reduce -2.1% |
| ABBV Abbvie Inc. | 0.44% | 12,022 | $2.2M | Add +162.2% |
| MARUY Marubeni Corp.-Unspons ADR | 0.44% | 12,607 | $2.2M | Reduce -4.3% |
| ING ING Groep N.V.-Sponsored ADR | 0.44% | 131,840 | $2.2M | Reduce -4.5% |
| DSNKY Daiichi Sankyo Co.-Spon ADR | 0.43% | 67,641 | $2.1M | Add +2.6% |
| HOCPY Hoya Corp.-Sponsored ADR | 0.43% | 17,113 | $2.1M | Reduce -3.7% |
| VCISY Vinci S.A.-Unspons ADR | 0.42% | 64,599 | $2.1M | New |
| CJPRY Central Japan Rai-Unspon ADR | 0.41% | 163,747 | $2.0M | Reduce -4.7% |
| ASMVY Asmpt Ltd.-Unsp ADR filed as ASM PACIFI | 0.41% | 53,246 | $2.0M | New |
| SGBLY Standard Bank Group-Spon ADR | 0.40% | 203,316 | $2.0M | New |
| GXYYY Galaxy Entertainmen-Unsp ADR | 0.40% | 78,545 | $2.0M | Reduce -43.1% |
| MPC Marathon Petroleum Corp. | 0.39% | 9,572 | $1.9M | Reduce -8.8% |
| AMP Ameriprise Financial Inc. | 0.37% | 4,197 | $1.8M | No change |
| AMAT Applied Materials Inc. | 0.36% | 8,766 | $1.8M | Reduce -8.7% |
| YMM Full Truck Alliance -SPN ADR | 0.36% | 246,875 | $1.8M | Reduce -13.8% |
| CRM Salesforce Inc. | 0.36% | 5,894 | $1.8M | Reduce -5.5% |
| UNH Unitedhealth Group Inc. | 0.36% | 3,559 | $1.8M | Add +9.8% |
| STLD Steel Dynamics Inc. | 0.35% | 11,604 | $1.7M | Reduce -5.5% |
| LNVGY Lenovo Group Ltd.-ADR | 0.34% | 72,667 | $1.7M | New |
| GD General Dynamics Corp. | 0.34% | 5,927 | $1.7M | Add +28.3% |
| AZO AutoZone Inc. | 0.33% | 514 | $1.6M | Reduce -7.0% |
| PH Parker Hannifin Corp. | 0.32% | 2,883 | $1.6M | Reduce -7.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.32% | 42,030 | $1.6M | Reduce -4.4% |
Portfolio Sells Q4 2023 → Q1 2024
| SHEL Shell PLC-ADR | Reduce -99.9% | 0.00% | −2.49 |
| GLNCY Glencore PLC -Unsp ADR | Reduce -99.5% | 0.01% | −1.44 |
| IPXHY Inpex Corp.-Unspon ADR | Reduce -99.4% | 0.01% | −1.06 |
| PDD PDD Holdings Inc. | Reduce -20.4% | 1.56% | −0.92 |
| SIEGY Siemens AG-Spons ADR | Reduce -99.5% | 0.00% | −0.91 |
| DBSDY DBS Group Holdings-Spon ADR | Reduce -99.4% | 0.01% | −0.87 |
| MSADY Ms&ad Insurance-Unspons ADR | Sold out | 0.00% | −0.79 |
| EEM iShares MSCI Emerging Market | Reduce -89.7% | 0.07% | −0.64 |
| NTR Nutrien Ltd. | Sold out | 0.00% | −0.54 |
| RHHBY Roche Holdings Ltd.-Spons ADR | Sold out | 0.00% | −0.53 |
| SVNDY Seven & I Holdings-Unspn ADR | Sold out | 0.00% | −0.51 |
| TLK Telkom Indonesia Persero-ADR | Reduce -99.9% | 0.00% | −0.50 |
| BDVSY Bidvest Group Ltd.-Spons ADR | Sold out | 0.00% | −0.48 |
| HDB HDFC Bank Ltd.-ADR | Reduce -9.3% | 1.39% | −0.46 |
| GXYYY Galaxy Entertainmen-Unsp ADR | Reduce -43.1% | 0.40% | −0.39 |
| SNY Sanofi-ADR | Sold out | 0.00% | −0.38 |
| JBSAY JBS SA-Sponsored ADR | Reduce -8.4% | 1.23% | −0.38 |
| TS Tenaris SA-ADR | Sold out | 0.00% | −0.38 |
| RECKITT BENCKISER-SPON ADR | Reduce -99.5% | 0.00% | −0.36 |
| RDY Dr. Reddy's Laboratories-ADR | Reduce -98.9% | 0.00% | −0.32 |
| CICHY China Construct-Unspon ADR | Reduce -58.3% | 0.23% | −0.31 |
| TTE Totalenergies SE -Spon ADR | Reduce -24.0% | 0.95% | −0.28 |
| ACWX iShares MSCI Acwi Ex US ETF | Reduce -99.8% | 0.00% | −0.28 |
| ZTO Zto Express Cayman Inc.-ADR | Reduce -99.5% | 0.00% | −0.21 |
| AAPL Apple Inc. | Reduce -5.9% | 1.03% | −0.21 |
| JNJ Johnson & Johnson | Reduce -83.2% | 0.04% | −0.20 |
| BMY Bristol-Myers Squibb Co. | Reduce -90.3% | 0.02% | −0.18 |
| AEE Ameren Corporation | Reduce -85.1% | 0.03% | −0.18 |
| VLRS Controladora Vuela Cia-ADR | Reduce -99.8% | 0.00% | −0.18 |
| IFNNY Infineon Technologies-ADR | Reduce -2.2% | 0.68% | −0.18 |
| PBR Petroleo Brasileiro-Spon ADR | Reduce -8.5% | 1.14% | −0.18 |
| ADI Analog Devices Inc. | Reduce -91.4% | 0.02% | −0.17 |
| BIDU Baidu Inc. - Spon ADR | Reduce -4.8% | 0.85% | −0.17 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.16 |
| PUK Prudential PLC-ADR | Reduce -2.0% | 0.75% | −0.15 |
| BYDDY BYD Co. Ltd.-Unsponsored ADR | Reduce -5.1% | 0.91% | −0.12 |
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −0.11 |
| SKM SK Telecom Co. Ltd.-Spon ADR | Reduce -7.4% | 1.45% | −0.11 |
| AVGO Broadcom Inc. | Reduce -45.9% | 0.20% | −0.11 |
| FCX Freeport-McMoran Inc. | Reduce -21.3% | 0.70% | −0.11 |
| SCBFY Standard Chartered- Unsp ADR | Reduce -13.3% | 0.62% | −0.10 |
| NSRGY Nestle SA-Spons ADR | Reduce -3.7% | 0.64% | −0.09 |
| BALL Ball Corp. | Reduce -77.9% | 0.03% | −0.08 |
| IMBBY Imperial Brands PLC-Spon ADR | Sold out | 0.00% | −0.08 |
| GBOOY Grupo Fin Banorte-Spon ADR | Reduce -13.3% | 0.75% | −0.08 |
| BDORY Banco Do Brasil SA-Spon ADR | Reduce -11.5% | 0.52% | −0.07 |
| GILD Gilead Sciences Inc. | Sold out | 0.00% | −0.07 |
| SZKMY Suzuki Motor Corp.-Uns ADR | Reduce -14.2% | 0.77% | −0.07 |
| LI Li Auto Inc. - ADR | Reduce -10.3% | 0.19% | −0.07 |
| GM General Motors Co. | Sold out | 0.00% | −0.07 |
Portfolio Buys Q4 2023 → Q1 2024
| SFTBY Softbank Group Corp.-Unsp ADR | New | 1.06% | +1.06 |
| MU Micron Technology Inc. | New | 0.96% | +0.96 |
| ENGIY Engie-Spon ADR | New | 0.94% | +0.94 |
| TRMD Torm PLC-A | New | 0.93% | +0.93 |
| TECK Teck Resources Ltd.-CLS B | New | 0.81% | +0.81 |
| MPNGY Meituan - Unsp ADR | New | 0.68% | +0.68 |
| VIST Vista Energy Sab DE CV | New | 0.66% | +0.66 |
| KB KB Financial Group Inc.-ADR | Add +8.0% | 2.42% | +0.63 |
| FRO Frontline PLC | New | 0.62% | +0.62 |
| SHG Shinhan Financial Group-ADR | Add +42.6% | 1.53% | +0.59 |
| ITUB Itau Unibanco H-Spon PRF ADR | Add +116.5% | 1.09% | +0.58 |
| KEP Korea Elec Power Corp.-SP ADR | New | 0.54% | +0.54 |
| ESAIY Eisai Co. Ltd. | New | 0.51% | +0.51 |
| VCISY Vinci S.A.-Unspons ADR | New | 0.42% | +0.42 |
| FTI Technipfmc PLC | Add +20.5% | 1.26% | +0.42 |
| ASMVY Asmpt Ltd.-Unsp ADR | New | 0.41% | +0.41 |
| SGBLY Standard Bank Group-Spon ADR | New | 0.40% | +0.40 |
| LNVGY Lenovo Group Ltd.-ADR | New | 0.34% | +0.34 |
| SMFG Sumitomo Mitsui-Spons ADR | Add +20.1% | 1.07% | +0.33 |
| ABBV Abbvie Inc. | Add +162.2% | 0.44% | +0.30 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +45.2% | 0.61% | +0.27 |
| SIMO Silicon Motion Technol-ADR | Add +1.4% | 1.11% | +0.23 |
| SDZNY Sandoz Group AG-ADR | Add +52.6% | 0.57% | +0.17 |
| RNECY Renesas Electro-Unspon ADR | Add +22.7% | 1.03% | +0.17 |
| FANG Diamondback Energy Inc. | Add +156.5% | 0.20% | +0.14 |
| TCEHY Tencent Holdings Ltd.-Uns ADR | Add +5.1% | 1.67% | +0.12 |
| OKE Oneok Inc. | Add +250.7% | 0.16% | +0.12 |
| JPM JPMorgan Chase & Co. | Add +6.1% | 0.61% | +0.12 |
| BSX Boston Scientific Corp. | Add +55.7% | 0.22% | +0.10 |
| GOFPY Allwyn AG | New | 0.10% | +0.10 |
| GD General Dynamics Corp. | Add +28.3% | 0.34% | +0.09 |
| CMS CMS Energy Corp. | Add +66.0% | 0.18% | +0.08 |
| XEL Xcel Energy Inc. | Add +104.0% | 0.17% | +0.07 |
| EQIX Equinix Inc. | Add +47.6% | 0.21% | +0.07 |
| BABA Alibaba Group Holding-SP ADR | Add +13.9% | 1.29% | +0.07 |
| SCCO Southern Copper Corp. | Add +4574.3% | 0.07% | +0.07 |
| DSNKY Daiichi Sankyo Co.-Spon ADR | Add +2.6% | 0.43% | +0.07 |
| ABT Abbott Laboratories | Add +28.4% | 0.24% | +0.06 |
| AMD Advanced Micro Devices | Add +2.1% | 0.26% | +0.05 |
| DHI D.R. Horton Inc. | Add +14.0% | 0.22% | +0.04 |
| IR Ingersoll-Rand Inc. | New | 0.04% | +0.04 |
| EIX Edison International | New | 0.03% | +0.03 |
| GS Goldman Sachs Group Inc. | New | 0.03% | +0.03 |
| JCI Johnson Controls Internation | New | 0.03% | +0.03 |
| EPI Wisdomtree India Earnings | New | 0.03% | +0.03 |
| CTRA Coterra Energy Inc. | New | 0.03% | +0.03 |
| ACN Accenture PLC Class A | New | 0.03% | +0.03 |
| NVS Novartis AG-Sponsored ADR | New | 0.03% | +0.03 |
| ICLR Icon PLC | New | 0.03% | +0.03 |
| NTRA Natera Inc. | New | 0.02% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 352 | $959.3M | TSM, JBS, KB, ENGIY, ITUB |
| Q1 2026 | 349 | $831.7M | TSM, JBS, KB, ITUB, ENGIY |
| Q4 2025 | 384 | $758.2M | TSM, KB, JBS, ITUB, ENGIY |
| Q3 2025 | 357 | $720.1M | TSM, KB, JBS, ITUB, GBOOY |
| Q2 2025 | 344 | $661.2M | TSM, KB, ITUB, GBOOY, ENGIY |
| Q1 2025 | 378 | $480.7M | TSM, TCEHY, KB, MPNGY, BABA |
| Q4 2024 | 384 | $495.6M | TSM, KB, TCEHY, MPNGY, IBN |
| Q3 2024 | 391 | $521.2M | TSM, KB, TCEHY, MPNGY, SBLK |
| Q2 2024 | 394 | $491.3M | TSM, KB, TCEHY, IBN, PDD |
| Q1 2024 | 389 | $495.8M | TSM, KB, IBN, SBLK, TCEHY |