Norinchukin Bank, The

CIK

1496637

Location

TOKYO, M0

Portfolio Value

Mid $5,804,937,973

Diversification

Diversified

Filing Date

Global Rank

#598 / 8,603 ▲ 1 · as of Mar 2026

Top Industry

Semiconductors 12.9%

3Y Alpha vs SPY

-3.2%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+62.8%

SPY

+76.0%

Annualised alpha

-3.1%

Max drawdown

−17.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

545 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

13.8%

−0.2 pts

Top 5

33.1%

−1.3 pts

Top 10

43.4%

−1.8 pts

HHI

331

Diversified−16

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	26.8%	$1,556,529,711	90
Unclassified	19.0%	$1,102,682,606	3
Consumer Cyclical	9.6%	$558,617,398	56
Financial Services	9.2%	$535,053,195	72
Healthcare	8.3%	$479,528,665	61
Industrials	7.7%	$446,843,712	76
Communication Services	6.1%	$355,264,897	21
Consumer Defensive	5.6%	$327,553,797	35
Basic Materials	2.2%	$127,610,260	20
Real Estate	2.0%	$115,038,038	59
Energy	1.8%	$105,114,675	21
Utilities	1.6%	$95,101,019	31

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
WMT	Walmart Inc.	+179,037	445,287	$55,340,268
NKE	NIKE, Inc.	+94,076	331,733	$17,522,136
MKC	Mccormick & Co Inc	+66,658	522,157	$26,337,598
CPRT	Copart Inc	+47,553	411,694	$13,668,240
CSX	Csx Corp	+42,518	191,173	$7,847,651
INTC	Intel Corp	+37,214	449,476	$19,835,375
NVDA	Nvidia Corp	+35,843	1,821,137	$317,606,292
AMZN	Amazon Com Inc	+33,082	896,961	$186,810,066
TSCO	Tractor Supply Co /De/	+32,783	606,234	$27,462,399
HBAN	Huntington Bancshares Inc /Md/	+26,565	115,763	$1,811,690
CMCSA	Comcast Corp	+25,744	368,684	$10,584,917
MSFT	Microsoft Corp	+25,244	617,893	$228,725,450
JKHY	Jack Henry & Associates Inc	+18,123	202,426	$31,991,404
WBD	Warner Bros. Discovery, Inc.	+15,514	322,825	$8,864,774
PANW	Palo Alto Networks Inc	+14,841	82,438	$13,216,460
FITB	Fifth Third Bancorp	+13,911	51,420	$2,388,973
AAPL	Apple Inc.	+13,640	1,086,823	$275,824,809
CSCO	Cisco Systems, Inc.	+13,373	390,623	$30,308,438
TSLA	Tesla, Inc.	+13,292	235,756	$87,642,293
EW	Edwards Lifesciences Corp	+13,065	395,023	$31,633,441
NFLX	Netflix Inc	+12,734	412,431	$39,655,240
CRH	Crh Public Ltd Co	+12,026	38,516	$4,048,801
V	Visa Inc.	+9,799	259,521	$78,437,626
APH	Amphenol Corp /De/	+9,524	229,073	$28,943,372
AVGO	Broadcom Inc.	+8,497	346,329	$107,192,288
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
TXN	Texas Instruments Inc	−60,431	261,257	$50,720,433
CHD	Church & Dwight Co Inc /De/	−51,578	310,992	$29,021,773
T	At&T Inc.	−28,810	377,854	$10,953,987
FAST	Fastenal Co	−21,485	660,445	$30,644,647
TW	Tradeweb Markets Inc.	−20,009	193,898	$22,814,038
SCI	Service Corp International	−16,000	355,014	$29,292,204
LIN	Linde PLC	−13,328	93,673	$46,439,326
DE	Deere & Co	−11,984	63,873	$35,979,660
ITW	Illinois Tool Works Inc	−11,766	98,623	$25,670,580
TJX	Tjx Companies Inc /De/	−8,932	253,549	$40,491,774
SHW	Sherwin Williams Co	−4,919	104,818	$33,599,409
BAC	Bank Of America Corp /De/	−4,434	404,757	$19,731,903
LUV	Southwest Airlines Co	−3,095	20,064	$753,804
ZTS	Zoetis Inc.	−2,855	400,698	$47,366,510
DAL	Delta Air Lines, Inc.	−2,836	26,972	$1,793,098
JPM	Jpmorgan Chase & Co	−2,514	172,155	$50,641,114
UNP	Union Pacific Corp	−2,504	25,017	$6,069,624
C	Citigroup Inc	−2,379	106,584	$12,087,691
CVX	Chevron Corp	−2,259	131,547	$27,217,074
CRM	Salesforce, Inc.	−2,030	64,880	$12,111,149
DIS	Walt Disney Co	−2,027	113,985	$10,985,874
PG	PROCTER & GAMBLE Co	−1,956	145,753	$21,052,563
COST	Costco Wholesale Corp /New	−1,910	84,074	$83,773,855
UBER	Uber Technologies, Inc	−1,808	173,263	$12,462,807
HD	Home Depot, Inc.	−1,624	69,447	$22,840,423
No positions match the current search.

New Positions

Positions the filer opened this quarter

6 positions

Ticker	Company	Shares	Value
VRT	Vertiv Holdings Co	15,240	$3,818,839
CIEN	Ciena Corp	8,243	$3,200,179
LITE	Lumentum Holdings Inc.	2,847	$2,000,757
COHR	Coherent Corp.	7,451	$1,774,902
AMCR	Amcor plc	30,261	$1,202,874
ECHO	EchoStar CORP	5,373	$629,017
No positions match the current search.

Sold Out

Positions the filer fully exited

7 positions

Ticker	Company	Shares	Value
MTCH	Match Group, Inc.	23,089	$745,543
MOH	Molina Healthcare, Inc.	3,288	$570,599
PAYC	Paycom Software, Inc.	3,545	$564,931
LW	Lamb Weston Holdings, Inc.	7,147	$299,387
VNO	Vornado Realty Trust	7,376	$245,473
MRP	Millrose Properties, Inc.	7,050	$210,583
APLE	Apple Hospitality REIT, Inc.	10,075	$119,388
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

545 positions · $5,804,937,973 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 545 positions by value · page 1 of 11

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SPY	Spdr S&P 500 ETF Trust	Held	1,233,000	0	$801,869,220	−4.6%	13.81%
NVDA	Nvidia Corp Technology	Added	1,821,137	+35,843	$317,606,292	−4.6%	5.47%
QQQ	Invesco Qqq Trust, Series 1	Held	518,000	0	$298,979,240	−6.0%	5.15%
AAPL	Apple Inc. Technology	Added	1,086,823	+13,640	$275,824,809	−5.5%	4.75%
MSFT	Microsoft Corp Technology	Added	617,893	+25,244	$228,725,450	−20.2%	3.94%
AMZN	Amazon Com Inc Consumer Cyclical	Added	896,961	+33,082	$186,810,066	−6.3%	3.22%
GOOGL	Alphabet Inc. Communication Services	Added	420,592	+7,650	$120,945,435	−6.4%	2.08%
AVGO	Broadcom Inc. Technology	Added	346,329	+8,497	$107,192,288	−8.3%	1.85%
META	Meta Platforms, Inc. Communication Services	Added	165,928	+4,390	$94,932,386	−11.0%	1.64%
TSLA	Tesla, Inc. Consumer Cyclical	Added	235,756	+13,292	$87,642,293	−12.4%	1.51%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	84,074	-1,910	$83,773,855	+13.0%	1.44%
V	Visa Inc. Financial Services	Added	259,521	+9,799	$78,437,626	−10.4%	1.35%
WMT	Walmart Inc. Consumer Defensive	Added	445,287	+179,037	$55,340,268	+86.6%	0.95%
TXN	Texas Instruments Inc Technology	Reduced	261,257	-60,431	$50,720,433	−9.1%	0.87%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	172,155	-2,514	$50,641,114	−10.0%	0.87%
ZTS	Zoetis Inc. Healthcare	Reduced	400,698	-2,855	$47,366,510	−6.7%	0.82%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	97,613	+406	$46,776,149	−4.3%	0.81%
LIN	Linde PLC Basic Materials	Reduced	93,673	-13,328	$46,439,326	+1.8%	0.80%
SPGI	S&P Global Inc. Financial Services	Reduced	109,488	-1,273	$44,058,299	−19.5%	0.76%
LLY	ELI LILLY & Co Healthcare	Reduced	47,144	-62	$43,361,636	−14.5%	0.75%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Reduced	253,549	-8,932	$40,491,774	+0.4%	0.70%
NFLX	Netflix Inc Communication Services	Added	412,431	+12,734	$39,655,240	+5.8%	0.68%
JNJ	Johnson & Johnson Healthcare	Reduced	155,030	-1,108	$37,895,533	+17.3%	0.65%
DE	Deere & Co Industrials	Reduced	63,873	-11,984	$35,979,660	+1.9%	0.62%
PLTR	Palantir Technologies Inc. Technology	Added	235,005	+8,133	$34,376,531	−14.8%	0.59%
MU	Micron Technology Inc Technology	Added	101,669	+4,212	$34,347,854	+23.5%	0.59%
SHW	Sherwin Williams Co Basic Materials	Reduced	104,818	-4,919	$33,599,409	−5.5%	0.58%
JKHY	Jack Henry & Associates Inc Technology	Added	202,426	+18,123	$31,991,404	−4.9%	0.55%
EW	Edwards Lifesciences Corp Healthcare	Added	395,023	+13,065	$31,633,441	−2.9%	0.54%
AMD	Advanced Micro Devices Inc Technology	Added	154,816	+6,108	$31,494,218	−1.1%	0.54%
VRSK	Verisk Analytics, Inc. Industrials	Added	163,480	+5,011	$31,020,329	−12.5%	0.53%
FAST	Fastenal Co Industrials	Reduced	660,445	-21,485	$30,644,647	+12.0%	0.53%
CSCO	Cisco Systems, Inc. Technology	Added	390,623	+13,373	$30,308,438	+4.3%	0.52%
SCI	Service Corp International Consumer Cyclical	Reduced	355,014	-16,000	$29,292,204	+1.3%	0.50%
CHD	Church & Dwight Co Inc /De/ Consumer Defensive	Reduced	310,992	-51,578	$29,021,773	−4.5%	0.50%
APH	Amphenol Corp /De/ Technology	Added	229,073	+9,524	$28,943,372	−2.4%	0.50%
RMD	Resmed Inc Healthcare	Added	127,946	+5,650	$28,721,317	−2.5%	0.49%
TSCO	Tractor Supply Co /De/ Consumer Cyclical	Added	606,234	+32,783	$27,462,399	−4.2%	0.47%
CVX	Chevron Corp Energy	Reduced	131,547	-2,259	$27,217,074	+33.5%	0.47%
CTAS	Cintas Corp Industrials	Added	160,164	+2,678	$27,090,138	−8.5%	0.47%
AMAT	Applied Materials Inc /De Technology	Added	77,818	+2,604	$26,597,414	+37.6%	0.46%
MKC	Mccormick & Co Inc Consumer Defensive	Added	522,157	+66,658	$26,337,598	−15.1%	0.45%
CAT	Caterpillar Inc Industrials	Reduced	36,592	-1,289	$25,923,968	+19.5%	0.45%
LRCX	Lam Research Corp Technology	Added	120,507	+3,847	$25,747,525	+28.9%	0.44%
ITW	Illinois Tool Works Inc Industrials	Reduced	98,623	-11,766	$25,670,580	−5.6%	0.44%
MA	Mastercard Inc Financial Services	Reduced	51,328	-278	$25,646,548	−12.9%	0.44%
ABBV	AbbVie Inc. Healthcare	Added	108,035	+50	$23,496,532	−4.8%	0.40%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	69,447	-1,624	$22,840,423	−6.6%	0.39%
TW	Tradeweb Markets Inc. Financial Services	Reduced	193,898	-20,009	$22,814,038	−0.8%	0.39%
STE	STERIS plc Healthcare	Added	101,382	+5,252	$22,418,600	−8.0%	0.39%