Norinchukin Bank, The

CIK

1496637

Location

TOKYO, M0

Portfolio Value

Small $327,553,797

Diversification

Diversified

Filing Date

Global Rank

#457 / 8,232 ▲ 35

Top Industry

Semiconductors 12.7%

3Y Alpha vs SPY

-3.4%

Period ended 2 months ago

Filed May 15, 2026 · 30d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

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

Cloned portfolio

+61.7%

SPY

+76.3%

Annualised alpha

-3.4%

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

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

Top Position

13.6%

−0.2 pts

Top 5

32.7%

−1.3 pts

Top 10

42.9%

−1.9 pts

HHI

323

Diversified−17

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	26.9%	$1,580,425,874	90
Unclassified	18.8%	$1,102,682,606	3
Consumer Cyclical	9.8%	$573,787,835	56
Financial Services	9.1%	$537,564,521	72
Healthcare	8.2%	$479,528,665	61
Industrials	7.6%	$447,056,881	76
Communication Services	6.0%	$355,264,897	21
Consumer Defensive	5.6%	$327,553,797	35
Energy	2.4%	$140,139,455	22
Basic Materials	2.1%	$125,140,999	20
Real Estate	2.0%	$115,038,038	59
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
SATS	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

35 positions · $327,553,797 total · Consumer Defensive only · as of Mar 31, 2026

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

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	84,074	-1,910	$83,773,855	+13.0%	25.58%
WMT	Walmart Inc. Consumer Defensive	Added	445,287	+179,037	$55,340,268	+86.6%	16.90%
CHD	Church & Dwight Co Inc /De/ Consumer Defensive	Reduced	310,992	-51,578	$29,021,773	−4.5%	8.86%
MKC	Mccormick & Co Inc Consumer Defensive	Added	522,157	+66,658	$26,337,598	−15.1%	8.04%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	145,753	-1,956	$21,052,563	−0.5%	6.43%
KO	Coca Cola Co Consumer Defensive	Reduced	263,359	-1,304	$20,028,451	+8.2%	6.11%
PEP	Pepsico Inc Consumer Defensive	Added	125,685	+4,548	$19,517,623	+12.3%	5.96%
PM	Philip Morris International Inc. Consumer Defensive	Added	97,145	+30	$16,061,954	+3.1%	4.90%
MO	Altria Group, Inc. Consumer Defensive	Added	104,785	+18	$6,914,762	+14.5%	2.11%
MDLZ	Mondelez International, Inc. Consumer Defensive	Added	117,888	+3,517	$6,795,064	+10.4%	2.07%
MNST	Monster Beverage Corp Consumer Defensive	Added	82,979	+3,246	$6,012,658	−1.6%	1.84%
CL	Colgate Palmolive Co Consumer Defensive	Added	49,943	+94	$4,256,641	+8.1%	1.30%
TGT	Target Corp Consumer Defensive	Added	27,533	+57	$3,336,999	+24.2%	1.02%
KDP	Keurig Dr Pepper Inc. Consumer Defensive	Added	125,004	+4,779	$3,291,355	−2.3%	1.00%
KR	Kroger Co Consumer Defensive	Reduced	34,299	-1,423	$2,481,875	+11.2%	0.76%
SYY	Sysco Corp Consumer Defensive	Added	29,277	+143	$2,088,328	−2.7%	0.64%
KHC	Kraft Heinz Co Consumer Defensive	Added	90,695	+4,135	$2,039,730	−2.8%	0.62%
KVUE	Kenvue Inc. Consumer Defensive	Added	114,973	+395	$1,982,134	+0.3%	0.61%
ADM	Archer-Daniels-Midland Co Consumer Defensive	Added	24,883	+134	$1,808,745	+27.1%	0.55%
KMB	Kimberly Clark Corp Consumer Defensive	Added	18,437	+74	$1,778,617	−4.0%	0.54%
HSY	Hershey Co Consumer Defensive	Added	8,206	+37	$1,705,945	+14.8%	0.52%
CCEP	COCA-COLA EUROPACIFIC PARTNERS plc Consumer Defensive	Added	16,985	+1,554	$1,540,029	+10.0%	0.47%
DG	Dollar General Corp Consumer Defensive	Added	12,458	+55	$1,479,138	−10.2%	0.45%
EL	Estee Lauder Companies Inc Consumer Defensive	Added	16,785	+88	$1,204,659	−31.1%	0.37%
DLTR	Dollar Tree, Inc. Consumer Defensive	Reduced	10,738	-340	$1,175,918	−13.7%	0.36%
STZ	Constellation Brands, Inc. Consumer Defensive	Reduced	7,805	-21	$1,170,750	+8.4%	0.36%
GIS	General Mills Inc Consumer Defensive	Added	29,558	+124	$1,100,148	−19.6%	0.34%
BG	Bunge Global SA Consumer Defensive	Reduced	6,530	-56	$830,616	+41.6%	0.25%
TSN	Tyson Foods, Inc. Consumer Defensive	Added	12,615	+1	$808,243	+9.3%	0.25%
CLX	Clorox Co /De/ Consumer Defensive	Added	7,007	+10	$726,135	+2.9%	0.22%
SJM	J M SMUCKER Co Consumer Defensive	Reduced	5,825	-49	$561,763	−2.2%	0.17%
CAG	Conagra Brands Inc. Consumer Defensive	Reduced	26,131	-1	$410,779	−9.2%	0.13%
TAP	Molson Coors Beverage Co Consumer Defensive	Reduced	9,242	-58	$397,960	−8.3%	0.12%
HRL	Hormel Foods Corp /De/ Consumer Defensive	Added	12,438	+78	$281,720	−3.8%	0.09%
CPB	CAMPBELL'S Co Consumer Defensive	Reduced	10,732	-87	$239,001	−20.7%	0.07%