Ramirez Asset Management, Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 24, 2025), Ramirez Asset Management, Inc. reported 344 stock positions worth $661.2 million. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 6.7% of the portfolio, followed by KB Financial Group Inc.-ADR (KB, 3.8%) and Itau Unibanco H-Spon PRF ADR (ITUB, 2.2%). Compared with Q1 2025, it opened 16 new positions, sold out of 51, added to 103 and reduced 100. The biggest buy was a new position in JBS NV-A (JBS) and the biggest sale Meituan - Unsp ADR (MPNGY, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001992110
- Portfolio Value
- $661.2M (Q2 2025)
- SEC Filing
- 0001992110-25-000010 ↗ filed Jul 24, 2025
Holdings Value
Holdings 344 stocks · $661.2M
| TSM Taiwan Semiconductor-SP ADR | 6.75% | 196,995 | $44.6M | Add +14.7% |
| KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC | 3.80% | 304,298 | $25.1M | Add +24.6% |
| ITUB Itau Unibanco H-Spon PRF ADR | 2.22% | 2,162,787 | $14.7M | Add +16.5% |
| GBOOY Grupo Fin Banorte-Spon ADR | 1.97% | 285,896 | $13.0M | Add +14.8% |
| ENGIY Engie-Spon ADR | 1.82% | 514,441 | $12.0M | Add +63.2% |
| JBS JBS NV-A | 1.80% | 814,236 | $11.9M | New |
| SFTBY Softbank Group Corp.-Unsp ADR | 1.77% | 321,137 | $11.7M | Add +21.8% |
| RNMBY Rheinmetall AG-Unsp ADR | 1.62% | 25,420 | $10.7M | Add +3.4% |
| KOF Coca-Cola Femsa Sab-SP ADR | 1.53% | 104,723 | $10.1M | Add +98.4% |
| SHG Shinhan Financial Group-ADR | 1.49% | 218,158 | $9.9M | Add +1.1% |
| TCEHY Tencent Holdings Ltd.-Uns ADR | 1.38% | 141,606 | $9.1M | Reduce -38.9% |
| CCJ Cameco Corp. | 1.34% | 119,637 | $8.9M | Add +59.1% |
| MARUY Marubeni Corp.-Unspons ADR | 1.34% | 43,771 | $8.8M | Add +57.4% |
| AXAHY AXA -Spons ADR filed as AXA SA | 1.28% | 172,419 | $8.4M | Add +41.3% |
| MSFT Microsoft Corp. | 1.25% | 16,663 | $8.3M | Reduce -0.6% |
| SW Smurfit Westrock PLC | 1.21% | 184,782 | $8.0M | Add +366.5% |
| NVDA Nvidia Corp. | 1.18% | 49,421 | $7.8M | No change |
| SMFG Sumitomo Mitsui-Spons ADR | 1.16% | 505,871 | $7.6M | Add +23.6% |
| VCISY Vinci S.A.-Unspons ADR | 1.14% | 205,186 | $7.5M | Add +105.3% |
| VEOEY Veolia Environnement-ADR | 1.14% | 424,043 | $7.5M | Add +36.9% |
| AVGO Broadcom Inc. | 1.10% | 26,422 | $7.3M | Add +98.3% |
| EMBJ Embraer SA-Spon ADR | 1.07% | 124,629 | $7.1M | Add +29.0% |
| BAESY Bae Systems PLC -Spon ADR | 1.07% | 68,509 | $7.1M | Add +2.9% |
| CX Cemex Sab-Spons ADR Part Cer | 1.05% | 997,387 | $6.9M | Add +1.7% |
| DTEGY Deutsche Telekom AG-Spon ADR | 1.03% | 188,040 | $6.8M | Add +104.0% |
| LNSTY London Stock Exchg-Unsp ADR | 1.03% | 186,934 | $6.8M | Add +155.4% |
| SBGSY Schneider Elect SE-Unsp ADR | 1.03% | 128,132 | $6.8M | Add +45.6% |
| HTHIY Hitachi Ltd. -ADR | 1.01% | 229,908 | $6.7M | Add +39.8% |
| MUFG Mitsubishi Ufj Finl-Spon ADR | 1.00% | 480,219 | $6.6M | Add +24.4% |
| JPM JPMorgan Chase & Co. | 0.98% | 22,415 | $6.5M | Add +46.1% |
| SCBFY Standard Chartered- Unsp ADR | 0.95% | 189,817 | $6.3M | Add +20465.2% |
| CLLNY Cellnex Telecom Sau-Unsp ADR | 0.91% | 312,520 | $6.0M | Add +139.3% |
| DSCSY Disco Corp.-Unsponsored ADR | 0.91% | 204,668 | $6.0M | Add +23.2% |
| ISNPY Intesa Sanpaolo-Spon ADR | 0.91% | 174,103 | $6.0M | New |
| MU Micron Technology Inc. | 0.90% | 48,349 | $6.0M | Reduce -2.1% |
| TLK Telkom Indonesia Persero-ADR filed as P T TELEKOMUNIKASI INDONESIA | 0.90% | 351,350 | $6.0M | Add +34.4% |
| ETN Eaton Corp. PLC | 0.88% | 16,261 | $5.8M | Add +126.1% |
| AAPL Apple Inc. | 0.85% | 27,501 | $5.6M | Reduce -1.1% |
| SIMO Silicon Motion Technol-ADR | 0.84% | 74,012 | $5.6M | Reduce -1.7% |
| LIN Linde PLC | 0.84% | 11,779 | $5.5M | Add +56.5% |
| SDZNY Sandoz Group AG-ADR | 0.81% | 98,424 | $5.4M | Add +24.4% |
| CPNG Coupang Inc. | 0.81% | 178,638 | $5.4M | Add +185.4% |
| SSEZY Sse PLC-SPN ADR | 0.81% | 212,232 | $5.3M | Add +95.6% |
| BABA Alibaba Group Holding-SP ADR | 0.74% | 43,013 | $4.9M | Reduce -44.4% |
| VIV Telefonica Brasil-ADR | 0.74% | 426,868 | $4.9M | New |
| CP Canadian Pacific Kansas City | 0.73% | 60,653 | $4.8M | Add +47.1% |
| FUJIY Fujifilm Holdings-Unsp ADR | 0.70% | 424,735 | $4.6M | Add +24.6% |
| SCCO Southern Copper Corp. | 0.69% | 45,318 | $4.6M | Add +12.6% |
| RECKITT BENCKISER-SPON ADR | 0.68% | 330,522 | $4.5M | Add +65610.1% |
| AMZN Amazon.com Inc. | 0.66% | 19,795 | $4.3M | Reduce -2.0% |
| ASX Ase Technology Holding -ADR | 0.65% | 415,180 | $4.3M | Add +60.2% |
| EADSY Airbus SE - Unsp ADR | 0.64% | 80,854 | $4.2M | Add +3.1% |
| META Meta Platforms Inc. Class A | 0.62% | 5,561 | $4.1M | Add +0.9% |
| ABBV Abbvie Inc. | 0.62% | 22,027 | $4.1M | Add +58.2% |
| PCRHY Panasonic Holdings Corp. | 0.62% | 377,719 | $4.1M | New |
| RNECY Renesas Electro-Unspon ADR | 0.61% | 654,903 | $4.1M | Add +25.8% |
| KEP Korea Elec Power Corp.-SP ADR | 0.60% | 278,651 | $4.0M | Reduce -0.5% |
| NDBKY Nedbank Group Ltd.-Spons ADR | 0.59% | 284,471 | $3.9M | Add +49.8% |
| AER Aercap Holdings NV | 0.57% | 31,972 | $3.7M | Add +56.0% |
| MIELY Mitsubishi Electric-Unsp ADR | 0.54% | 83,495 | $3.6M | Add +23.6% |
| AU Anglogold Ashanti PLC | 0.53% | 76,389 | $3.5M | Reduce -0.7% |
| AZN Astrazeneca PLC-Spons ADR | 0.52% | 49,187 | $3.4M | Add +26.2% |
| CAT Caterpillar Inc. | 0.52% | 8,840 | $3.4M | Add +160.8% |
| TCOM Trip.com Group Ltd.-ADR | 0.50% | 56,427 | $3.3M | Reduce -0.5% |
| EONGY E.on SE -Sponsored ADR filed as E ON AG | 0.49% | 176,503 | $3.2M | Add +3.2% |
| LNT Alliant Energy Corp. | 0.48% | 52,376 | $3.2M | Add +48.9% |
| V Visa Inc. Class A | 0.48% | 8,885 | $3.2M | Reduce -2.2% |
| GD General Dynamics Corp. | 0.47% | 10,727 | $3.1M | Add +68.2% |
| CICHY China Construct-Unspon ADR | 0.47% | 154,778 | $3.1M | Add +92.1% |
| WEGZY Weg SA- SPN ADR filed as WEG SA BRAZIL SPONSORED ADR | 0.47% | 394,699 | $3.1M | New |
| GOOGL Alphabet Inc. Class A | 0.47% | 17,456 | $3.1M | Reduce -3.9% |
| GRAB Grab Holdings Ltd. Class A | 0.46% | 602,415 | $3.0M | Add +99.0% |
| NSRGY Nestle SA-Spons ADR | 0.45% | 30,263 | $3.0M | Add +24.6% |
| IWF iShares Russell 1000 Growth | 0.45% | 7,050 | $3.0M | No change |
| DSNKY Daiichi Sankyo Co.-Spon ADR | 0.43% | 123,174 | $2.9M | Add +23.2% |
| ABT Abbott Laboratories | 0.43% | 21,049 | $2.9M | Add +102.8% |
| STLA Stellantis NV | 0.42% | 278,270 | $2.8M | Add +58855.5% |
| BBVA Banco Bilbao Vizcaya-SP ADR | 0.42% | 181,087 | $2.8M | Reduce -0.8% |
| PSX Phillips 66 | 0.41% | 22,562 | $2.7M | Add +135.9% |
| HIG Hartford Insurance Group Inc. | 0.41% | 21,140 | $2.7M | Add +124.4% |
| FMX Fomento Economico Mex-SP ADR | 0.40% | 25,813 | $2.7M | Add +0.2% |
| ASHTY Ashtead Group PLC-Unspon ADR | 0.40% | 10,360 | $2.7M | Add +27.5% |
| YMM Full Truck Alliance -SPN ADR | 0.38% | 212,854 | $2.5M | Reduce -0.6% |
| GGAL Grupo Financiero Galicia-ADR | 0.37% | 48,818 | $2.5M | Add +98.1% |
| GOOG Alphabet Inc. Class C | 0.36% | 13,340 | $2.4M | Reduce -5.3% |
| AVB Avalonbay Communities Inc. | 0.36% | 11,541 | $2.3M | Add +76.4% |
| BMA Banco Macro SA-ADR | 0.35% | 33,433 | $2.3M | Add +95.0% |
| MS Morgan Stanley | 0.35% | 16,290 | $2.3M | Add +176.6% |
| PR Permian Resources Corp. Class A | 0.34% | 166,800 | $2.3M | Add +51.8% |
| SGBLY Standard Bank Group-Spon ADR | 0.34% | 176,412 | $2.3M | Reduce -1.0% |
| HOCPY Hoya Corp.-Sponsored ADR | 0.33% | 18,534 | $2.2M | Add +22.5% |
| NNGRY NN Group NV - Unspon ADR | 0.33% | 66,316 | $2.2M | Add +156.9% |
| BKNG Booking Holdings Inc. | 0.32% | 370 | $2.1M | No change |
| TME Tencent Music Entertainm-ADR | 0.32% | 108,144 | $2.1M | Reduce -0.1% |
| PAYX Paychex Inc. | 0.32% | 14,412 | $2.1M | Add +176.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.31% | 43,597 | $2.1M | Add +21.6% |
| CSCO Cisco Systems Inc. | 0.31% | 29,407 | $2.0M | Add +177.2% |
| KT KT Corp.-SP ADR | 0.31% | 97,850 | $2.0M | Reduce -0.7% |
| WF Woori Financial-Spon ADR | 0.29% | 39,157 | $1.9M | Reduce -0.8% |
| C Citigroup Inc. | 0.29% | 22,835 | $1.9M | Add +177.3% |
Portfolio Sells Q1 2025 → Q2 2025
| MPNGY Meituan - Unsp ADR | Reduce -99.3% | 0.01% | −2.28 |
| JBSAY JBS SA-Sponsored ADR | Sold out | 0.00% | −1.87 |
| TCEHY Tencent Holdings Ltd.-Uns ADR | Reduce -38.9% | 1.38% | −1.70 |
| SBLK Star Bulk Carriers Corp. | Reduce -99.6% | 0.00% | −1.62 |
| FTI Technipfmc PLC | Sold out | 0.00% | −1.49 |
| BABA Alibaba Group Holding-SP ADR | Reduce -44.4% | 0.74% | −1.39 |
| BDORY Banco Do Brasil SA-Spon ADR | Reduce -100.0% | 0.00% | −1.11 |
| PBR Petroleo Brasileiro-Spon ADR | Reduce -100.0% | 0.00% | −0.99 |
| VIST Vista Energy Sab DE CV | Reduce -98.3% | 0.01% | −0.75 |
| TRMD Torm PLC-A | Sold out | 0.00% | −0.53 |
| FRO Frontline PLC | Sold out | 0.00% | −0.50 |
| AAPL Apple Inc. | Reduce -1.1% | 0.85% | −0.43 |
| SKM SK Telecom Co. Ltd.-Spon ADR | Reduce -99.4% | 0.00% | −0.40 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.39 |
| MRK Merck & Co. Inc. | Reduce -96.1% | 0.01% | −0.28 |
| TCOM Trip.com Group Ltd.-ADR | Reduce -0.5% | 0.50% | −0.25 |
| PEP Pepsico Inc. | Reduce -87.4% | 0.02% | −0.20 |
| ARCO Arcos Dorados Holdings Inc. Class A | Reduce -100.0% | 0.00% | −0.19 |
| YMM Full Truck Alliance -SPN ADR | Reduce -0.6% | 0.38% | −0.19 |
| V Visa Inc. Class A | Reduce -2.2% | 0.48% | −0.19 |
| AZO AutoZone Inc. | Reduce -10.2% | 0.26% | −0.15 |
| AMZN Amazon.com Inc. | Reduce -2.0% | 0.66% | −0.14 |
| EDU New Oriental Educatio-SP ADR | Reduce -100.0% | 0.00% | −0.14 |
| SGBLY Standard Bank Group-Spon ADR | Reduce -1.0% | 0.34% | −0.14 |
| GOOGL Alphabet Inc. Class A | Reduce -3.9% | 0.47% | −0.12 |
| GOFPY Allwyn AG | Sold out | 0.00% | −0.11 |
| GOOG Alphabet Inc. Class C | Reduce -5.3% | 0.36% | −0.10 |
| ODFL Old Dominion Freight Line | Reduce -16.6% | 0.14% | −0.10 |
| BBVA Banco Bilbao Vizcaya-SP ADR | Reduce -0.8% | 0.42% | −0.10 |
| CRM Salesforce Inc. | Reduce -1.7% | 0.24% | −0.09 |
| LYB Lyondellbasell Indu Class A | Sold out | 0.00% | −0.09 |
| ADBE Adobe Inc. | Reduce -1.4% | 0.20% | −0.08 |
| DIDIY Didi Global Inc. | Reduce -0.2% | 0.20% | −0.07 |
| AU Anglogold Ashanti PLC | Reduce -0.7% | 0.53% | −0.07 |
| A Agilent Technologies Inc. | Sold out | 0.00% | −0.06 |
| HON Honeywell International Inc. | Reduce -0.8% | 0.23% | −0.06 |
| ACWX iShares MSCI Acwi Ex US ETF | Reduce -97.5% | 0.00% | −0.06 |
| KT KT Corp.-SP ADR | Reduce -0.7% | 0.31% | −0.06 |
| MSFT Microsoft Corp. | Reduce -0.6% | 1.25% | −0.06 |
| ICE Intercontinental Exchange Inc. | Reduce -3.3% | 0.16% | −0.06 |
| PLD Prologis Inc. | Reduce -2.9% | 0.11% | −0.05 |
| DHI D.R. Horton Inc. | Reduce -6.2% | 0.12% | −0.05 |
| VSGX Vanguard ESG Intl Stock ETF | Reduce -8.4% | 0.15% | −0.05 |
| BSX Boston Scientific Corp. | Reduce -1.0% | 0.16% | −0.05 |
| HSY The Hershey Co. | Reduce -80.5% | 0.01% | −0.05 |
| SNPS Synopsys Inc. | Reduce -0.4% | 0.27% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -30.8% | 0.04% | −0.03 |
| VEEV Veeva Systems Inc. Class A | Sold out | 0.00% | −0.03 |
| CRL Charles River Laboratories | Sold out | 0.00% | −0.03 |
| AKAM Akamai Technologies Inc. | Sold out | 0.00% | −0.03 |
Portfolio Buys Q1 2025 → Q2 2025
| JBS JBS NV-A | New | 1.80% | +1.80 |
| KB KB Financial Group Inc.-ADR | Add +24.6% | 3.80% | +1.05 |
| SCBFY Standard Chartered- Unsp ADR | Add +20465.2% | 0.95% | +0.94 |
| ISNPY Intesa Sanpaolo-Spon ADR | New | 0.91% | +0.91 |
| SW Smurfit Westrock PLC | Add +366.5% | 1.21% | +0.83 |
| TSM Taiwan Semiconductor-SP ADR | Add +14.7% | 6.75% | +0.82 |
| VIV Telefonica Brasil-ADR | New | 0.74% | +0.74 |
| CCJ Cameco Corp. | Add +59.1% | 1.34% | +0.70 |
| RECKITT BENCKISER-SPON ADR | Add +65610.1% | 0.68% | +0.68 |
| AVGO Broadcom Inc. | Add +98.3% | 1.10% | +0.64 |
| PCRHY Panasonic Holdings Corp. | New | 0.62% | +0.62 |
| ENGIY Engie-Spon ADR | Add +63.2% | 1.82% | +0.54 |
| KOF Coca-Cola Femsa Sab-SP ADR | Add +98.4% | 1.53% | +0.53 |
| CPNG Coupang Inc. | Add +185.4% | 0.81% | +0.52 |
| VCISY Vinci S.A.-Unspons ADR | Add +105.3% | 1.14% | +0.49 |
| ETN Eaton Corp. PLC | Add +126.1% | 0.88% | +0.47 |
| WEGZY Weg SA- SPN ADR | New | 0.47% | +0.47 |
| LNSTY London Stock Exchg-Unsp ADR | Add +155.4% | 1.03% | +0.47 |
| CLLNY Cellnex Telecom Sau-Unsp ADR | Add +139.3% | 0.91% | +0.43 |
| STLA Stellantis NV | Add +58855.5% | 0.42% | +0.42 |
| MARUY Marubeni Corp.-Unspons ADR | Add +57.4% | 1.34% | +0.41 |
| SFTBY Softbank Group Corp.-Unsp ADR | Add +21.8% | 1.77% | +0.40 |
| SSEZY Sse PLC-SPN ADR | Add +95.6% | 0.81% | +0.34 |
| DTEGY Deutsche Telekom AG-Spon ADR | Add +104.0% | 1.03% | +0.33 |
| CAT Caterpillar Inc. | Add +160.8% | 0.52% | +0.29 |
| WHGLY WH Group Ltd. - Spon ADR | New | 0.23% | +0.23 |
| ACGBY Agricultural Bank-Unspon ADR | New | 0.23% | +0.23 |
| PNGAY Ping An Insurance-ADR | New | 0.23% | +0.23 |
| BPOP Popular Inc. | New | 0.22% | +0.22 |
| DSCSY Disco Corp.-Unsponsored ADR | Add +23.2% | 0.91% | +0.22 |
| HTHIY Hitachi Ltd. -ADR | Add +39.8% | 1.01% | +0.22 |
| GFI Gold Fields Ltd.-Spons ADR | New | 0.20% | +0.20 |
| MS Morgan Stanley | Add +176.6% | 0.35% | +0.20 |
| JPM JPMorgan Chase & Co. | Add +46.1% | 0.98% | +0.20 |
| AXAHY AXA -Spons ADR | Add +41.3% | 1.28% | +0.20 |
| SBGSY Schneider Elect SE-Unsp ADR | Add +45.6% | 1.03% | +0.19 |
| NNGRY NN Group NV - Unspon ADR | Add +156.9% | 0.33% | +0.18 |
| ELV Elevance Health Inc. | Add +787.8% | 0.21% | +0.18 |
| ASX Ase Technology Holding -ADR | Add +60.2% | 0.65% | +0.18 |
| CICHY China Construct-Unspon ADR | Add +92.1% | 0.47% | +0.18 |
| GRAB Grab Holdings Ltd. Class A | Add +99.0% | 0.46% | +0.17 |
| CSCO Cisco Systems Inc. | Add +177.2% | 0.31% | +0.17 |
| C Citigroup Inc. | Add +177.3% | 0.29% | +0.17 |
| GBOOY Grupo Fin Banorte-Spon ADR | Add +14.8% | 1.97% | +0.17 |
| RNMBY Rheinmetall AG-Unsp ADR | Add +3.4% | 1.62% | +0.16 |
| HIG Hartford Insurance Group Inc. | Add +124.4% | 0.41% | +0.16 |
| PSX Phillips 66 | Add +135.9% | 0.41% | +0.16 |
| NDAQ Nasdaq Inc. | Add +385.6% | 0.21% | +0.16 |
| PAYX Paychex Inc. | Add +176.5% | 0.32% | +0.15 |
| ABT Abbott Laboratories | Add +102.8% | 0.43% | +0.15 |
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 |