NB
Norinchukin Bank, The — 13F Portfolio Changes & Top Buys (Q2 2026)
Norinchukin Bank, TheCIK: 0001496637
Diversified strategyMomentum follower
Total reported value
$10.3B
Reporting period: 2026-06-30 · Number of holdings: 596
Norinchukin Bank, The disclosed 596 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $10.3B and a quarterly turnover rate of 26.0%.
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Personality snowflake
- Concentration
- 10.47
- Portfolio Stability
- 25.97
- Momentum
- 94.76
- Sector conviction
- 59.69
- Diversification
- 100
- Sizing Uniformity
- 62.76
Norinchukin Bank, The's disclosed holdings carry a Herfindahl concentration index of 0.026 — mathematically equivalent to about 38 equally-sized positions, well below its 596 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.72), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 54% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd IVV
+71.7% $301.7M
Trim QQQ
-49.8% -$107.5M
New buy ONEQ
Add QQQM
+31.2% $131.6M
Add MU
+3.6% $87.2M
Trim MSFT
-12.8% -$27.8M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 596 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 8.96% | -0.40% | — | |
| 2 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 5.97% | +2.33% | +71.65% | |
| 3 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 4.90% | -0.21% | — | |
| 4 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 3.76% | +0.58% | +22.87% | |
| 5 | ITOT | Ishares Core S&p Total U.s. | ETF-Other | 3.59% | -0.14% | — | |
| 6 | NVDA | Nvidia CORP | Stock-Tech | 3.57% | -0.14% | +0.60% | |
| 7 | BBUS | Jpmorgan Betabuilders US Equ | ETF-Other | 3.22% | -0.14% | — | |
| 8 | QQQM | Invesco Nasdaq 100 ETF | ETF-Tech | 3.18% | +0.90% | +31.23% | |
| 9 | AAPL | Apple Inc | Stock-Tech | 3.09% | -0.13% | +0.96% | |
| 10 | SPYM | Ste Str Spdr Pt S&p 500 ETF | ETF-Large Cap & Growth | 3.00% | -0.14% | — | |
| 11 | SCHX | Schwab US Large-cap ETF | ETF-Other | 2.92% | -0.13% | — | |
| 12 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.00% | -0.18% | -3.66% | |
| 13 | MSFT | Microsoft CORP | Stock-Tech | 1.96% | -0.71% | -12.82% | |
| 14 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 1.86% | -1.63% | -49.81% | |
| 15 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.48% | +0.07% | +1.29% | |
| 16 | GOVT | Ishares US Treasury Bond ETF | ETF-Gov Bonds | 1.44% | -0.21% | +5.46% | |
| 17 | ONEQ | Fidelity Nasdaq Comp Indx | ETF-Tech | 1.30% | +1.30% | NEW | |
| 18 | AVGO | Broadcom Inc | Stock-Tech | 1.29% | +0.04% | +1.02% | |
| 19 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.20% | +0.03% | +0.36% | |
| 20 | MU | Micron Technology Inc | Stock-Tech | 1.18% | +0.78% | +3.58% | |
| 21 | VV | Vanguard Large-cap ETF | ETF-Other | 1.00% | -0.05% | — | |
| 22 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.98% | -0.04% | +1.05% | |
| 23 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.92% | -0.19% | +1.38% | |
| 24 | AMD | Advanced Micro Devices | Stock-Tech | 0.89% | +0.52% | +1.62% | |
| 25 | V | Visa Inc-class A Shares | Stock-Financials | 0.83% | -0.09% | -4.70% | |
| 26 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.74% | -0.24% | -3.41% | |
| 27 | INTC | Intel CORP | Stock-Tech | 0.62% | +0.39% | +2.25% | |
| 28 | IWB | Ishares Russell 1000 ETF | ETF-Other | 0.62% | +0.62% | NEW | |
| 29 | TXN | Texas Instruments Inc | Stock-Tech | 0.61% | +0.02% | -19.79% | |
| 30 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.56% | +0.05% | +2.36% | |
| 31 | AMAT | Applied Materials Inc | Stock-Tech | 0.56% | +0.25% | +1.58% | |
| 32 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.54% | -0.05% | -1.66% | |
| 33 | LRCX | Lam Research CORP | Stock-Tech | 0.52% | +0.22% | +1.73% | |
| 34 | WMT | Walmart Inc | Stock-Consumer Staples | 0.50% | -0.15% | +0.89% | |
| 35 | SPGI | S&p Global Inc | Stock-Financials | 0.47% | -0.07% | +8.97% | |
| 36 | LIN | Linde plc | Stock-Materials | 0.46% | -0.08% | -2.02% | |
| 37 | CSCO | Cisco Systems Inc | Stock-Tech | 0.45% | +0.10% | +0.87% | |
| 38 | APH | Amphenol Corp-cl A | Stock-Tech | 0.43% | +0.09% | +8.85% | |
| 39 | DE | Deere & Co | Stock-Industrials | 0.41% | -0.01% | +4.63% | |
| 40 | KLAC | Kla CORP | Stock-Tech | 0.38% | +0.16% | +928.61% | |
| 41 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.37% | -0.07% | -3.03% | |
| 42 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.36% | -0.19% | -25.19% | |
| 43 | SHW | Sherwin-williams Co/the | Stock-Materials | 0.35% | -0.04% | -0.59% | |
| 44 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 0.35% | -0.12% | -7.29% | |
| 45 | ZTS | Zoetis Inc | Stock-Healthcare | 0.34% | -0.21% | +22.72% | |
| 46 | CAT | Caterpillar Inc | Stock-Industrials | 0.34% | +0.04% | -10.66% | |
| 47 | TSCO | Tractor Supply Company | Stock-Consumer Disc | 0.33% | +0.01% | +79.55% | |
| 48 | RMD | Resmed Inc | Stock-Healthcare | 0.33% | -0.01% | +36.92% | |
| 49 | SCI | Service CORP International | Stock-Consumer Disc | 0.33% | -0.01% | +24.64% | |
| 50 | SNDK | Sandisk CORP | Stock-Tech | 0.31% | +0.25% | +68.64% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+1.9%
Performance Last 4 Quarters
+18.7%
- Stdev
- +12.6%
- Beta
- +0.97
- Alpha
- -1.2%
- Max Drawdown
- -6.7%
- Annualized Perf
- +19%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +3.02
- Stutzer
- +0.43
- Treynor
- +0.19
- Sterling
- +1.22
- Calmar
- +2.83
- Information Ratio
- -1.33
- Tracking Error
- +1.3%
- Stdev Down
- +6.1%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +33.9%
- Worst 12 Months
- +7.1%
- Efficiency Ratio
- +0.61
- Sharpe
- +1.45
- Stdev Sectors
- +9.9%
- Skewness
- +0.12
- Kurtosis
- -0.07
- Upside Potential
- +4.62
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 596 | $10.3B | 26 | ||
| 2026 Q1 | 588 | $8.6B | 12 | ||
| 2025 Q4 | 592 | $8.6B | 17 | ||
| 2025 Q3 | 601 | $7.5B | 32 | ||
| 2025 Q2 | 601 | $6.7B | 0 | ||
| 2025 Q1 | 594 | $5.4B | 100 | ||
| 2024 Q4 | 589 | $4.7B | 0 | ||
| 2024 Q3 | 585 | $4.2B | 0 | ||
| 2024 Q2 | 574 | $3.5B | 0 | ||
| 2024 Q1 | 583 | $3.3B | 0 | ||
| 2023 Q4 | 587 | $4.3B | 0 | ||
| 2023 Q3 | 579 | $4.3B | 0 | ||
| 2023 Q2 | 585 | $5.9B | 0 | ||
| 2023 Q1 | 590 | $5.1B | 0 | ||
| 2022 Q4 | 582 | $4.6B | 0 | ||
| 2022 Q3 | 571 | $4.9B | 0 | ||
| 2022 Q2 | 572 | $5.1B | 0 | ||
| 2022 Q1 | 586 | $7.5B | 0 | ||
| 2021 Q4 | 581 | $7.9B | 0 | ||
| 2021 Q3 | 578 | $7.2B | 0 | ||
| 2021 Q2 | 567 | $6.9B | 100 | ||
| 2021 Q1 | 568 | $7.3B | 12 | ||
| 2020 Q4 | 572 | $7.0B | 13 | ||
| 2020 Q3 | 556 | $6.3B | 14 | ||
| 2020 Q2 | 551 | $5.9B | 22 | ||
| 2020 Q1 | 542 | $5.1B | 48 | ||
| 2019 Q4 | 547 | $7.7B | 13 | ||
| 2019 Q3 | 546 | $7.1B | 12 | ||
| 2019 Q2 | 548 | $6.5B | 24 | ||
| 2019 Q1 | 540 | $7.8B | 14 | ||
| 2018 Q4 | 541 | $7.1B | 16 | ||
| 2018 Q3 | 545 | $7.4B | 12 | ||
| 2018 Q2 | 547 | $6.7B | 14 | ||
| 2018 Q1 | 563 | $6.0B | 9 | ||
| 2017 Q4 | 562 | $5.7B | 15 | ||
| 2017 Q3 | 562 | $5.2B | 10 | ||
| 2017 Q2 | 568 | $4.9B | 7 | ||
| 2017 Q1 | 565 | $4.6B | 10 | ||
| 2016 Q4 | 555 | $4.3B | 10 | ||
| 2016 Q3 | 557 | $4.2B | 10 | ||
| 2016 Q2 | 555 | $4.1B | 12 | ||
| 2016 Q1 | 556 | $4.1B | 10 | ||
| 2015 Q4 | 547 | $3.9B | 15 | ||
| 2015 Q3 | 559 | $3.8B | 16 | ||
| 2015 Q2 | 554 | $3.9B | 10 | ||
| 2015 Q1 | 561 | $4.1B | 7 | ||
| 2014 Q4 | 562 | $4.1B | 17 | ||
| 2014 Q3 | 528 | $3.5B | 8 | ||
| 2014 Q2 | 491 | $3.4B | 12 | ||
| 2014 Q1 | 513 | $3.5B | 14 | ||
| 2013 Q4 | 489 | $3.7B | 12 | ||
| 2013 Q3 | 480 | $3.5B | 8 | ||
| 2013 Q2 | 441 | $3.3B | 0 |
Holding changes this quarter
Norinchukin Bank, The's most significant position changes for 2026-06-30: New buy: Fidelity Nasdaq Comp Indx (ONEQ); New buy: Ishares Russell 1000 ETF (IWB); Sold out: Honeywell International Inc (HON); New buy: ; New buy: .
Showing top 200 changes by size (of 580 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IVV | Ishares Core S&p 500 ETF | +2.3% | +71.65% | Add |
| 2 | ONEQ | Fidelity Nasdaq Comp Indx | +1.3% | NEW | New buy |
| 3 | QQQM | Invesco Nasdaq 100 ETF | +0.9% | +31.23% | Add |
| 4 | MU | Micron Technology Inc | +0.8% | +3.58% | Add |
| 5 | IWB | Ishares Russell 1000 ETF | +0.6% | NEW | New buy |
| 6 | VTI | Vanguard Total Stock Mkt ETF | +0.6% | +22.87% | Add |
| 7 | AMD | Advanced Micro Devices | +0.5% | +1.62% | Add |
| 8 | INTC | Intel CORP | +0.4% | +2.25% | Add |
| 9 | AMAT | Applied Materials Inc | +0.3% | +1.58% | Add |
| 10 | SNDK | Sandisk CORP | +0.3% | +68.64% | Add |
| 11 | LRCX | Lam Research CORP | +0.2% | +1.73% | Add |
| 12 | KLAC | Kla CORP | +0.2% | +928.61% | Add |
| 13 | MRVL | Marvell Technology Inc | +0.2% | +108.71% | Add |
| 14 | PANW | Palo Alto Networks Inc | +0.1% | +2.50% | Add |
| 15 | STX | Seagate Technology Holdings plc | +0.1% | +4.54% | Add |
| 16 | CSCO | Cisco Systems Inc | +0.1% | +0.87% | Add |
| 17 | WDC | Western Digital CORP | +0.1% | +1.46% | Add |
| 18 | APH | Amphenol Corp-cl A | +0.1% | +8.85% | Add |
| 19 | CRWD | Crowdstrike Holdings Inc - A | +0.1% | +2.34% | Add |
| 20 | ✓ | +0.1% | NEW | New buy | |
| 21 | GOOGL | Alphabet Inc-cl A | +0.1% | +1.29% | Add |
| 22 | ✓ | +0.1% | NEW | New buy | |
| 23 | LLY | Eli Lilly & Co | +0.1% | +2.36% | Add |
| 24 | UNH | Unitedhealth Group Inc | +0.1% | -3.06% | Trim |
| 25 | ARM | Arm Holdings Plc-adr | +0.1% | +214.52% | Add |
| 26 | AVGO | Broadcom Inc | 0% | +1.02% | Add |
| 27 | CAT | Caterpillar Inc | 0% | -10.66% | Trim |
| 28 | QCOM | Qualcomm Inc | 0% | +0.36% | Add |
| 29 | GLW | Corning Inc | 0% | +4.26% | Add |
| 30 | DDOG | Datadog Inc - Class A | 0% | +2.60% | Add |
| 31 | DELL | Dell Technologies -c | 0% | -2.13% | Trim |
| 32 | FTNT | Fortinet Inc | 0% | +0.10% | Add |
| 33 | IDXX | Idexx Laboratories Inc | 0% | +122.05% | Add |
| 34 | TER | Teradyne Inc | 0% | +61.35% | Add |
| 35 | LITE | Lumentum Holdings Inc | 0% | +161.85% | Add |
| 36 | GOOG | Alphabet Inc-cl C | 0% | +0.36% | Add |
| 37 | ROL | Rollins Inc | 0% | +80.18% | Add |
| 38 | VRT | Vertiv Holdings Co-a | 0% | +48.90% | Add |
| 39 | ETN | Eaton Corporation plc | 0% | +29.14% | Add |
| 40 | ALAB | Astera Labs Inc | 0% | NEW | New buy |
| 41 | TXN | Texas Instruments Inc | 0% | -19.79% | Trim |
| 42 | GE | General Electric | 0% | +0.46% | Add |
| 43 | MS | Morgan Stanley | 0% | +8.66% | Add |
| 44 | GEV | GE Vernova Inc | 0% | -4.55% | Trim |
| 45 | COHR | Coherent CORP | 0% | +52.33% | Add |
| 46 | ASML | ASML Holding N.V. | 0% | +7.38% | Add |
| 47 | FLEX | Flex Ltd. | 0% | NEW | New buy |
| 48 | NBIS | Nebius Group N.V. | 0% | NEW | New buy |
| 49 | RKLB | Rocket Lab CORP | 0% | NEW | New buy |
| 50 | NXPI | NXP Semiconductors N.V. | 0% | +3.66% | Add |
1–50 of 200
Filing History
FAQ
What is Norinchukin Bank, The and what type of investor is it?
Norinchukin Bank, The is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $10.3B, spread across 596 disclosed positions.
What are Norinchukin Bank, The's largest equity positions?
Based on the latest 13F filing, Norinchukin Bank, The's top holdings by market value are:
1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $920.8M (9.0%)
2. Ishares Core S&p 500 ETF (IVV) — $613.4M (6.0%)
3. Vanguard S&p 500 ETF (VOO) — $503.5M (4.9%)
4. Vanguard Total Stock Mkt ETF (VTI) — $386.7M (3.8%)
5. Ishares Core S&p Total U.s. (ITOT) — $369.0M (3.6%)
What changes did Norinchukin Bank, The make in its most recent portfolio filing?
In the latest reported quarter, Norinchukin Bank, The made 193 notable position adjustments: 15 new positions were initiated, 109 existing holdings were added to, 61 positions were partially reduced, and 8 were completely exited. The largest of these moves: New buy: Fidelity Nasdaq Comp Indx (ONEQ); New buy: Ishares Russell 1000 ETF (IWB); Sold out: Honeywell International Inc (HON); New buy: ; New buy:
What sectors does Norinchukin Bank, The focus on?
Norinchukin Bank, The is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 38.5%
• Consumer Discretionary: 11.2%
• Financials: 9.7%
• Health Care: 9.2%
• Industrials: 8.9%
• Communication Services: 8.8%
Investment Profile
Norinchukin Bank, The returned an annualized 19.0% over the trailing 36 months — underperforming the S&P 500 by 1.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.97 (roughly in line with the market) and a 33% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 38.5% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 26 over the past 4 quarters — a shift toward more active trading.
It has added to its IVV position over the past two quarters (+$305.9M, now $613.4M), while trimming QQQ over the same stretch (-$126.7M, still holding $191.5M).
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Developer Access
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