SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Norinchukin Bank, The

CIK 0001496637 · OTEMACHI ONE TOWER, 2-1, OTEMACHI 1-CHOME, CHIYODA-KU, TOKYO, M0, 100-8155 · 81-3-3279-0111

Reported Value
$8.6B
Q4 2025
Positions
592
Filings on Record
31
2019–present window
Filed
Feb 17, 2026
original filing

Summary

Norinchukin Bank, The reported $8.6B in U.S.-listed holdings across 592 positions for Q4 2025.

Its largest position, Spdr S P 500 Etf Tr, represents 9.8% of the portfolio.

Compared with Q3 2025, the fund opened 12 new positions and exited 15.

Portfolio Metrics

Turnover
+1.5%
vs prior filed quarter
Top-10 Concentration
+41.7%
share of reported value
Largest Position
+9.8%
Spdr S P 500 Etf Tr
New / Exited
12 / 15
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $7.1BQ4 ’18Q1 ’19: $7.8BQ2 ’19: $6.5BQ3 ’19: $7.1BQ4 ’19: $7.7BQ4 ’19Q1 ’20: $5.1BQ2 ’20: $5.9BQ3 ’20: $6.3BQ4 ’20: $7.0BQ4 ’20Q1 ’21: $7.3BQ2 ’21: $6.9BQ3 ’21: $7.2BQ4 ’21: $7.9BQ4 ’21Q1 ’22: $7.5BQ2 ’22: $5.1BQ3 ’22: $4.9BQ4 ’22: $4.6BQ4 ’22Q1 ’23: $5.1BQ2 ’23: $5.9BQ3 ’23: $4.3BQ4 ’23: $4.3BQ4 ’23Q1 ’24: $3.3BQ2 ’24: $3.5BQ3 ’24: $4.2BQ4 ’24: $4.7BQ4 ’24Q1 ’25: $5.4BQ2 ’25: $6.7BQ3 ’25: $7.5BQ4 ’25: $8.6BQ4 ’25Q1 ’26: $8.6Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 55.6%ETP: 41.3%Other: 1.8%REIT: 1.3%ADR: 0.1%
  • Common Stock · 55.6% · $4.8B
  • ETP · 41.3% · $3.5B
  • Other · 1.8% · $157M
  • REIT · 1.3% · $108M
  • ADR · 0.1% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
J P MORGAN EXCHANGE TRADEDNEW+2.46M2.46M+$303M$303M
SCHWAB STRATEGIC TRNEW+10.18M10.18M+$274M$274M
CRH PLCNEW+26.5K26.5K+$3M$3M
CVNACARVANA CONEW+5.6K5.6K+$2M$2M
ALNYALNYLAM PHARMACEUTICALS INCNEW+4.5K4.5K+$2M$2M
FERROVIAL SENEW+24.5K24.5K+$2M$2M
ARESARES MANAGEMENT CORPORATIONNEW+8.1K8.1K+$1M$1M
FIXCOMFORT SYS USA INCNEW+1.4K1.4K+$1M$1M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2025

45 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SPDR S&P 500 ETF TRTR UNIT9.80%$841M1.23M
2ISHARES TRCORE S&P TTL STK · CORE S&P500 ETF · US TREAS BD ETF9.16%$786M8.96M
3VANGUARD INDEX FDSS&P 500 ETF SHS · TOTAL STK MKT · LARGE CAP ETF7.48%$642M1.54M
4NVDANVIDIA CORPORATIONhistory →COM3.88%$333M1.79M
5NDQINVESCO QQQ TRhistory →UNIT SER 13.71%$318M518.0K
6J P MORGAN EXCHANGE TRADEDBETABUILDRS US3.53%$303M2.46M
7AAPLAPPLE INChistory →COM3.40%$292M1.07M
8MSFTMICROSOFT CORPhistory →COM3.29%$282M583.4K
9SPDR SER TRPORTFOLIO S&P5003.28%$282M3.51M
10SCHWAB STRATEGIC TRUS LRG CAP ETF3.19%$274M10.18M
11GOOGLALPHABET INCCAP STK CL A · CAP STK CL C2.75%$236M752.3K
12AMZNAMAZON COM INChistory →COM2.24%$192M830.9K
13AVGOBROADCOM INChistory →COM1.36%$117M337.8K
14METAMETA PLATFORMS INChistory →CL A1.24%$107M161.5K
15TSLATESLA INChistory →COM1.17%$100M222.5K
16INVESCO EXCH TRADED FD TR IINASDAQ 100 ETF1.14%$98M387.0K
17VVISA INChistory →COM CL A0.93%$80M227.0K
18COSTCOSTCO WHSL CORP NEWhistory →COM0.81%$70M80.8K
19JPMJPMORGAN CHASE & CO.history →COM0.66%$56M174.7K
20LLYELI LILLY & COhistory →COM0.59%$51M47.2K
21SPGIS&P GLOBAL INChistory →COM0.58%$50M95.7K
22BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW0.57%$49M97.2K
23TXNTEXAS INSTRS INChistory →COM0.56%$48M276.7K
24ZTSZOETIS INChistory →CL A0.51%$43M344.4K
25LINDE PLCSHS0.48%$42M97.4K
26PLTRPALANTIR TECHNOLOGIES INChistory →CL A0.47%$40M226.9K
27TJXTJX COS INC NEWhistory →COM0.45%$39M252.0K
28NFLXNETFLIX INChistory →COM0.44%$37M399.7K
29JNJJOHNSON & JOHNSONhistory →COM0.38%$32M156.1K
30AMDADVANCED MICRO DEVICES INChistory →COM0.37%$32M148.7K
31VRSKVERISK ANALYTICS INChistory →COM0.36%$31M139.3K
32WMTWALMART INChistory →COM0.35%$30M266.3K
33MCXMCCORMICK & CO INChistory →COM NON VTG0.34%$30M433.4K
34MAMASTERCARD INCORPORATEDhistory →CL A0.34%$29M51.6K
35CSCOCISCO SYS INChistory →COM0.34%$29M377.3K
36CHDCHURCH & DWIGHT CO INChistory →COM0.34%$29M346.1K
37JKHYHENRY JACK & ASSOC INChistory →COM0.34%$29M158.9K
38SHWSHERWIN WILLIAMS COhistory →COM0.33%$29M88.4K
39CITCINTAS CORPhistory →COM0.33%$28M151.4K
40DEDEERE & COhistory →COM0.33%$28M61.1K
41MUMICRON TECHNOLOGY INChistory →COM0.32%$28M97.5K
42SCISERVICE CORP INTLhistory →COM0.32%$27M352.5K
43TSCOTRACTOR SUPPLY COhistory →COM0.32%$27M547.2K
44FASTFASTENAL COhistory →COM0.31%$26M653.7K
45ITWILLINOIS TOOL WKS INChistory →COM0.30%$26M105.9K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$8.6B588May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$8.6B592Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$7.5B601Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$6.7B601Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$5.4B594May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$4.7B589Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$4.2B585Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$3.5B574Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$3.3B583May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$4.3B587Feb 13, 202413F-HRchanges · EDGAR ↗
Q3 2023$4.3B579Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$5.9B585Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$5.1B590May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$4.6B582Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$4.9B571Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$5.1B572Aug 10, 202213F-HRchanges · EDGAR ↗
Q1 2022$7.5B586May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$7.9B581Feb 10, 202213F-HRchanges · EDGAR ↗
Q3 2021$7.2B578Nov 9, 202113F-HRchanges · EDGAR ↗
Q2 2021$6.9B567Aug 11, 202113F-HRchanges · EDGAR ↗
Q1 2021$7.3B568May 12, 202113F-HRchanges · EDGAR ↗
Q4 2020$7.0B572Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$6.3B556Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$5.9B551Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$5.1B542May 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$7.7B547Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$7.1B546Nov 12, 201913F-HRchanges · EDGAR ↗
Q2 2019$6.5B548Aug 9, 201913F-HRchanges · EDGAR ↗
Q1 2019$7.8B540May 10, 201913F-HRchanges · EDGAR ↗
Q4 2018$7.1B541Feb 8, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 2 additional managers.

  • Norinchukin Zenkyoren Asset Management Co., Ltd.028-14029
  • Norinchukin Value Investments Co.,Ltd.028-19610

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.