Ramirez Asset Management, Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Ramirez Asset Management, Inc. reported 384 stock positions worth $758.2 million. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 5.3% of the portfolio, followed by KB Financial Group Inc.-ADR (KB, 2.5%) and JBS NV-A (JBS, 2.5%). Compared with Q3 2025, it opened 44 new positions, sold out of 18, added to 57 and reduced 54. The biggest buy was a new position in Sea Ltd.-ADR (SE) and the biggest sale Alibaba Group Holding-SP ADR (BABA, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001992110
- Portfolio Value
- $758.2M (Q4 2025)
- SEC Filing
- 0001992110-26-000003 ↗ filed Feb 11, 2026
Holdings Value
Holdings 384 stocks · $758.2M
| TSM Taiwan Semiconductor-SP ADR | 5.34% | 133,107 | $40.5M | Reduce -1.8% |
| KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC | 2.50% | 219,902 | $18.9M | Reduce -0.1% |
| JBS JBS NV-A | 2.46% | 1,292,547 | $18.6M | Add +9.1% |
| ITUB Itau Unibanco H-Spon PRF ADR | 2.10% | 2,223,601 | $15.9M | Add +3.6% |
| ENGIY Engie-Spon ADR | 1.87% | 539,261 | $14.2M | Add +4.0% |
| SMFG Sumitomo Mitsui-Spons ADR | 1.81% | 710,653 | $13.7M | Add +3.5% |
| GBOOY Grupo Fin Banorte-Spon ADR | 1.75% | 286,548 | $13.3M | Add +0.6% |
| KOF Coca-Cola Femsa Sab-SP ADR | 1.70% | 136,301 | $12.9M | Reduce -1.2% |
| MARUY Marubeni Corp.-Unspons ADR | 1.59% | 43,431 | $12.1M | Add +2.3% |
| SHG Shinhan Financial Group-ADR | 1.58% | 222,752 | $11.9M | Reduce -0.3% |
| CX Cemex Sab-Spons ADR Part Cer | 1.54% | 1,016,705 | $11.7M | Reduce -0.2% |
| TLK Telkom Indonesia Persero-ADR filed as P T TELEKOMUNIKASI INDONESIA | 1.51% | 545,405 | $11.5M | Add +1.8% |
| CCJ Cameco Corp. | 1.49% | 123,674 | $11.3M | Add +4.7% |
| TCEHY Tencent Holdings Ltd.-Uns ADR | 1.45% | 143,368 | $11.0M | Reduce -5.8% |
| RNMBY Rheinmetall AG-Unsp ADR | 1.27% | 26,196 | $9.6M | Add +6.3% |
| SCBFY Standard Chartered- Unsp ADR | 1.22% | 188,343 | $9.2M | Add +3.9% |
| NVDA Nvidia Corp. | 1.21% | 49,294 | $9.2M | No change |
| DTEGY Deutsche Telekom AG-Spon ADR | 1.12% | 261,346 | $8.5M | Reduce -0.8% |
| AXAHY AXA -Spons ADR filed as AXA SA | 1.12% | 175,959 | $8.5M | Add +2.8% |
| EMBJ Embraer SA-Spon ADR | 1.09% | 128,129 | $8.2M | Reduce -5.0% |
| MFG Mizuho Financial Group-ADR | 1.09% | 1,124,276 | $8.2M | Add +3.9% |
| MSFT Microsoft Corp. | 1.07% | 16,740 | $8.1M | Add +0.5% |
| SUZ Suzano SA - Spon ADR | 1.05% | 850,261 | $7.9M | Add +24.6% |
| AVGO Broadcom Inc. | 1.04% | 22,769 | $7.9M | No change |
| JPM JPMorgan Chase & Co. | 1.01% | 23,765 | $7.7M | No change |
| MUFG Mitsubishi Ufj Finl-Spon ADR | 0.99% | 472,782 | $7.5M | Add +3.5% |
| VCISY Vinci S.A.-Unspons ADR | 0.98% | 210,897 | $7.4M | Add +2.0% |
| VEOEY Veolia Environnement-ADR | 0.96% | 418,004 | $7.3M | Add +3.5% |
| ISNPY Intesa Sanpaolo-Spon ADR | 0.96% | 173,748 | $7.2M | Add +4.1% |
| SW Smurfit Westrock PLC | 0.94% | 184,093 | $7.1M | Reduce -2.3% |
| SDZNY Sandoz Group AG-ADR | 0.94% | 97,123 | $7.1M | Add +4.0% |
| ASX Ase Technology Holding -ADR | 0.93% | 438,537 | $7.1M | Reduce -3.3% |
| SBGSY Schneider Elect SE-Unsp ADR | 0.92% | 126,318 | $7.0M | Add +3.3% |
| HTHIY Hitachi Ltd. -ADR | 0.92% | 221,993 | $6.9M | Add +2.2% |
| BAESY Bae Systems PLC -Spon ADR | 0.86% | 70,620 | $6.5M | Add +6.8% |
| AAPL Apple Inc. | 0.85% | 23,764 | $6.5M | No change |
| DSCSY Disco Corp.-Unsponsored ADR | 0.83% | 203,931 | $6.3M | Add +3.5% |
| NDBKY Nedbank Group Ltd.-Spons ADR | 0.79% | 374,737 | $6.0M | Reduce -1.8% |
| AU Anglogold Ashanti PLC | 0.79% | 70,575 | $6.0M | Reduce -6.0% |
| SSEZY Sse PLC-SPN ADR | 0.79% | 203,561 | $6.0M | Add +2.9% |
| NSRGY Nestle SA-Spons ADR | 0.76% | 58,011 | $5.8M | Add +1.5% |
| CPNG Coupang Inc. | 0.75% | 240,142 | $5.7M | Add +33.3% |
| CAT Caterpillar Inc. | 0.74% | 9,850 | $5.6M | No change |
| RECKITT BENCKISER-SPON ADR | 0.74% | 345,268 | $5.6M | Add +3.1% |
| LSEGY London Stock Ex Grp ADR Spon | 0.73% | 184,397 | $5.6M | Reduce -0.3% |
| GOOGL Alphabet Inc. Class A | 0.72% | 17,456 | $5.5M | No change |
| ABBV Abbvie Inc. | 0.71% | 23,547 | $5.4M | No change |
| VIV Telefonica Brasil-ADR | 0.71% | 451,081 | $5.3M | Reduce -3.8% |
| SGBLY Standard Bank Group-Spon ADR | 0.68% | 294,235 | $5.2M | Reduce -5.4% |
| BMA Banco Macro SA-ADR | 0.67% | 56,746 | $5.1M | Add +0.1% |
| LIN Linde PLC | 0.67% | 11,967 | $5.1M | Add +1.4% |
| NGG National Grid PLC-SP ADR | 0.67% | 65,608 | $5.1M | Add +4.6% |
| PCRHY Panasonic Holdings Corp. | 0.64% | 377,986 | $4.9M | Add +4.4% |
| EADSY Airbus SE - Unsp ADR | 0.64% | 83,023 | $4.8M | Add +6.8% |
| MIELY Mitsubishi Electric-Unsp ADR | 0.64% | 82,398 | $4.8M | Add +3.4% |
| CLLNY Cellnex Telecom Sau-Unsp ADR | 0.61% | 287,317 | $4.6M | Reduce -4.3% |
| AER Aercap Holdings NV | 0.60% | 31,647 | $4.5M | Add +3.1% |
| AZN Astrazeneca PLC-Spons ADR | 0.60% | 49,262 | $4.5M | Add +5.6% |
| AMZN Amazon.com Inc. | 0.60% | 19,608 | $4.5M | No change |
| FUJIY Fujifilm Holdings-Unsp ADR | 0.58% | 415,442 | $4.4M | Add +2.7% |
| GD General Dynamics Corp. | 0.57% | 12,748 | $4.3M | No change |
| RNECY Renesas Electro-Unspon ADR | 0.56% | 625,839 | $4.3M | Add +0.8% |
| KEP Korea Elec Power Corp.-SP ADR | 0.56% | 257,992 | $4.3M | Reduce -6.0% |
| MS Morgan Stanley | 0.56% | 23,846 | $4.2M | No change |
| CP Canadian Pacific Kansas City | 0.56% | 57,356 | $4.2M | Reduce -1.4% |
| GGAL Grupo Financiero Galicia-ADR | 0.55% | 76,706 | $4.1M | Reduce -2.5% |
| TCOM Trip.com Group Ltd.-ADR | 0.55% | 57,480 | $4.1M | Reduce -5.1% |
| ETN Eaton Corp. PLC | 0.54% | 12,834 | $4.1M | No change |
| SCCO Southern Copper Corp. | 0.51% | 26,931 | $3.9M | Reduce -38.7% |
| META Meta Platforms Inc. Class A | 0.49% | 5,636 | $3.7M | Add +1.4% |
| AXIAY Axia Energia-ADR filed as CENTRAIS ELET BRAS SA | 0.48% | 400,825 | $3.7M | Reduce -7.0% |
| LNT Alliant Energy Corp. | 0.48% | 55,990 | $3.6M | No change |
| SE Sea Ltd.-ADR | 0.47% | 27,904 | $3.6M | New |
| WEGZY Weg SA- SPN ADR | 0.47% | 399,292 | $3.5M | Reduce -3.2% |
| ESLOY Essilorluxot-Unspon ADR | 0.46% | 21,908 | $3.5M | Add +4.5% |
| C Citigroup Inc. | 0.45% | 29,431 | $3.4M | No change |
| EONGY E.on SE -Sponsored ADR | 0.45% | 179,594 | $3.4M | Add +5.1% |
| ACGBY Agricultural Bank-Unspon ADR | 0.44% | 180,979 | $3.4M | Add +94.5% |
| SFTBY Softbank Group Corp.-Unsp ADR | 0.44% | 232,755 | $3.4M | Add +303.6% |
| IWF iShares Russell 1000 Growth | 0.44% | 7,050 | $3.3M | No change |
| KGS Kodiak Gas Services Inc. | 0.43% | 86,970 | $3.3M | No change |
| PSX Phillips 66 | 0.43% | 25,002 | $3.2M | No change |
| KT KT Corp.-SP ADR | 0.42% | 169,457 | $3.2M | Reduce -6.6% |
| DIDIY Didi Global Inc. | 0.42% | 602,667 | $3.2M | Add +105.7% |
| CICHY China Construct-Unspon ADR | 0.41% | 158,959 | $3.1M | Reduce -5.3% |
| PKX Posco Holdings Inc. -Spon ADR | 0.41% | 59,024 | $3.1M | New |
| HIG Hartford Insurance Group Inc. | 0.41% | 22,540 | $3.1M | No change |
| XIACY Xiaomi Corp. - Unsp ADR | 0.41% | 122,705 | $3.1M | New |
| STLA Stellantis NV | 0.40% | 281,565 | $3.1M | Add +3.8% |
| GRAB Grab Holdings Ltd. Class A | 0.40% | 612,466 | $3.1M | Reduce -7.1% |
| CSCO Cisco Systems Inc. | 0.39% | 38,249 | $2.9M | No change |
| SIMO Silicon Motion Technol-ADR | 0.39% | 31,604 | $2.9M | Reduce -5.0% |
| GOOG Alphabet Inc. Class C | 0.39% | 9,310 | $2.9M | No change |
| NNGRY NN Group NV - Unspon ADR | 0.38% | 73,906 | $2.9M | No change |
| ABT Abbott Laboratories | 0.37% | 22,319 | $2.8M | No change |
| HOCPY Hoya Corp.-Sponsored ADR | 0.37% | 18,403 | $2.8M | Add +4.1% |
| ACWX iShares MSCI Acwi Ex US ETF | 0.36% | 40,608 | $2.7M | Add +3449.7% |
| ASHGY Ashtead Group PLC Spon ADR | 0.35% | 38,050 | $2.7M | Reduce -2.1% |
| FMX Fomento Economico Mex-SP ADR | 0.35% | 25,915 | $2.6M | Reduce -5.2% |
| GFI Gold Fields Ltd.-Spons ADR | 0.33% | 57,503 | $2.5M | Reduce -6.6% |
Portfolio Sells Q3 2025 → Q4 2025
| BABA Alibaba Group Holding-SP ADR | Reduce -99.0% | 0.01% | −1.14 |
| BBVA Banco Bilbao Vizcaya-SP ADR | Reduce -98.4% | 0.01% | −0.52 |
| MU Micron Technology Inc. | Reduce -98.1% | 0.02% | −0.47 |
| YMM Full Truck Alliance -SPN ADR | Reduce -99.7% | 0.00% | −0.41 |
| TCEHY Tencent Holdings Ltd.-Uns ADR | Reduce -5.8% | 1.45% | −0.35 |
| SCCO Southern Copper Corp. | Reduce -38.7% | 0.51% | −0.23 |
| SW Smurfit Westrock PLC | Reduce -2.3% | 0.94% | −0.17 |
| GRAB Grab Holdings Ltd. Class A | Reduce -7.1% | 0.40% | −0.15 |
| DTEGY Deutsche Telekom AG-Spon ADR | Reduce -0.8% | 1.12% | −0.13 |
| VIV Telefonica Brasil-ADR | Reduce -3.8% | 0.71% | −0.12 |
| TME Tencent Music Entertainm-ADR | Reduce -5.0% | 0.26% | −0.12 |
| CLLNY Cellnex Telecom Sau-Unsp ADR | Reduce -4.3% | 0.61% | −0.11 |
| AXIAY Axia Energia-ADR | Reduce -7.0% | 0.48% | −0.11 |
| TCOM Trip.com Group Ltd.-ADR | Reduce -5.1% | 0.55% | −0.09 |
| KT KT Corp.-SP ADR | Reduce -6.6% | 0.42% | −0.07 |
| SIMO Silicon Motion Technol-ADR | Reduce -5.0% | 0.39% | −0.05 |
| DSNKY Daiichi Sankyo Co.-Spon ADR | Reduce -3.6% | 0.32% | −0.05 |
| CP Canadian Pacific Kansas City | Reduce -1.4% | 0.56% | −0.04 |
| EMBJ Embraer SA-Spon ADR | Reduce -5.0% | 1.09% | −0.04 |
| KB KB Financial Group Inc.-ADR | Reduce -0.1% | 2.50% | −0.04 |
| CICHY China Construct-Unspon ADR | Reduce -5.3% | 0.41% | −0.03 |
| BPOP Popular Inc. | Reduce -5.8% | 0.23% | −0.03 |
| FMX Fomento Economico Mex-SP ADR | Reduce -5.2% | 0.35% | −0.03 |
| EXR Extra Space Storage Inc. | Sold out | 0.00% | −0.03 |
| PPG PPG Industries Inc. | Sold out | 0.00% | −0.03 |
| GFI Gold Fields Ltd.-Spons ADR | Reduce -6.6% | 0.33% | −0.03 |
| CRM Salesforce Inc. | Reduce -16.4% | 0.17% | −0.02 |
| WHGLY WH Group Ltd. - Spon ADR | Reduce -5.6% | 0.24% | −0.02 |
| EPI Wisdomtree India Earnings | Sold out | 0.00% | −0.02 |
| HUBS HubSpot Inc. | Sold out | 0.00% | −0.02 |
| NVS Novartis AG-Sponsored ADR | Sold out | 0.00% | −0.02 |
| DIS The Walt Disney Co. | Sold out | 0.00% | −0.01 |
| ACN Accenture PLC Class A | Sold out | 0.00% | −0.01 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −0.01 |
| ICLR Icon PLC | Sold out | 0.00% | −0.01 |
| ADBE Adobe Inc. | Reduce -0.4% | 0.15% | −0.01 |
| SLB SLB Ltd. | Reduce -94.1% | 0.00% | −0.01 |
| STZ Constellation Brands Inc. Class A | Sold out | 0.00% | −0.01 |
| WMG Warner Music Group Corp. Class A | Sold out | 0.00% | −0.01 |
| ASHGY Ashtead Group PLC Spon ADR | Reduce -2.1% | 0.35% | −0.01 |
| NBIS Nebius Group NV | Reduce -60.0% | 0.00% | −0.01 |
| CFLT Confluent Inc. Class A | Sold out | 0.00% | −0.01 |
| GTLB Gitlab Inc. Class A | Sold out | 0.00% | −0.01 |
| ZBH Zimmer Biomet Holdings Inc. | Sold out | 0.00% | −0.00 |
| EMXC iShares MSCI Emr MRK Ex Chna | Reduce -20.6% | 0.02% | −0.00 |
| LSEGY London Stock Ex Grp ADR Spon | Reduce -0.3% | 0.73% | −0.00 |
| BMY Bristol-Myers Squibb Co. | Reduce -76.4% | 0.00% | −0.00 |
| VSGX Vanguard ESG Intl Stock ETF | Reduce -1.4% | 0.12% | −0.00 |
| EIX Edison International | Sold out | 0.00% | −0.00 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| SE Sea Ltd.-ADR | New | 0.47% | +0.47 |
| PKX Posco Holdings Inc. -Spon ADR | New | 0.41% | +0.41 |
| XIACY Xiaomi Corp. - Unsp ADR | New | 0.41% | +0.41 |
| ACWX iShares MSCI Acwi Ex US ETF | Add +3449.7% | 0.36% | +0.35 |
| BMA Banco Macro SA-ADR | Add +0.1% | 0.67% | +0.34 |
| ENGIY Engie-Spon ADR | Add +4.0% | 1.87% | +0.33 |
| SCBFY Standard Chartered- Unsp ADR | Add +3.9% | 1.22% | +0.24 |
| ACGBY Agricultural Bank-Unspon ADR | Add +94.5% | 0.44% | +0.23 |
| SMFG Sumitomo Mitsui-Spons ADR | Add +3.5% | 1.81% | +0.22 |
| GLOB Globant SA | New | 0.22% | +0.22 |
| DIDIY Didi Global Inc. | Add +105.7% | 0.42% | +0.17 |
| SDZNY Sandoz Group AG-ADR | Add +4.0% | 0.94% | +0.17 |
| EEM iShares MSCI Emerging Market | Add +148.1% | 0.28% | +0.16 |
| SUZ Suzano SA - Spon ADR | Add +24.6% | 1.05% | +0.16 |
| SSEZY Sse PLC-SPN ADR | Add +2.9% | 0.79% | +0.14 |
| CCJ Cameco Corp. | Add +4.7% | 1.49% | +0.12 |
| TLK Telkom Indonesia Persero-ADR | Add +1.8% | 1.51% | +0.11 |
| MARUY Marubeni Corp.-Unspons ADR | Add +2.3% | 1.59% | +0.11 |
| HTHIY Hitachi Ltd. -ADR | Add +2.2% | 0.92% | +0.11 |
| AZN Astrazeneca PLC-Spons ADR | Add +5.6% | 0.60% | +0.10 |
| PCRHY Panasonic Holdings Corp. | Add +4.4% | 0.64% | +0.10 |
| AER Aercap Holdings NV | Add +3.1% | 0.60% | +0.08 |
| MFG Mizuho Financial Group-ADR | Add +3.9% | 1.09% | +0.08 |
| MIELY Mitsubishi Electric-Unsp ADR | Add +3.4% | 0.64% | +0.07 |
| RNECY Renesas Electro-Unspon ADR | Add +0.8% | 0.56% | +0.07 |
| STLA Stellantis NV | Add +3.8% | 0.40% | +0.05 |
| ISNPY Intesa Sanpaolo-Spon ADR | Add +4.1% | 0.96% | +0.04 |
| AXICY Axia Energia-ADR Pref C | New | 0.04% | +0.04 |
| NGG National Grid PLC-SP ADR | Add +4.6% | 0.67% | +0.04 |
| NSRGY Nestle SA-Spons ADR | Add +1.5% | 0.76% | +0.03 |
| HOCPY Hoya Corp.-Sponsored ADR | Add +4.1% | 0.37% | +0.03 |
| PWR Quanta Services Inc. | New | 0.02% | +0.02 |
| IEMG iShares Core MSCI Emerging | Add +2674.2% | 0.02% | +0.02 |
| VXUS Vanguard Total Intl Stock | New | 0.02% | +0.02 |
| RECKITT BENCKISER-SPON ADR | Add +3.1% | 0.74% | +0.02 |
| CEG Constellation Energy | New | 0.02% | +0.02 |
| FITB Fifth Third Bancorp | Add +43.6% | 0.05% | +0.02 |
| STE Steris PLC | Add +71.2% | 0.03% | +0.01 |
| EADSY Airbus SE - Unsp ADR | Add +6.8% | 0.64% | +0.01 |
| HUBB Hubbell Inc. | Add +9.2% | 0.18% | +0.01 |
| RMD Resmed Inc. | Add +58.7% | 0.04% | +0.01 |
| IBB iShares Biotechnology ETF | New | 0.01% | +0.01 |
| WM Waste Management Inc. | Add +60.0% | 0.02% | +0.01 |
| VEOEY Veolia Environnement-ADR | Add +3.5% | 0.96% | +0.01 |
| REGN Regeneron Pharmaceuticals | New | 0.01% | +0.01 |
| ILMN Illumina Inc. | New | 0.00% | +0.00 |
| WGS Genedx Holdings Corp. | New | 0.00% | +0.00 |
| JEF Jefferies Financial Group Inc. | New | 0.00% | +0.00 |
| CRSP Crispr Therapeutics AG | New | 0.00% | +0.00 |
| VWO Vanguard Ftse Emerging Marke | Add +22.3% | 0.02% | +0.00 |
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 |