Norinchukin Bank, The portfolio

What changed this quarter

401 positions with a change (14 new, 183 added to, 197 trimmed, 7 sold); also, 2 exited through an acquisition or merger, 2 entered through a spin-off. 6 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• iShares Core S&P 500 ETF+72%more sharesIncreased
  3.6% → 6.0%
• Invesco QQQ Trust Series 1 ETF−50%fewer sharesReduced
  3.5% → 1.9%
• Fidelity Nasdaq Comp Indx ETF+1.3 ppof portfolioNew
  — → 1.3%
• Invesco Nasdaq 100 ETF+31%more sharesIncreased
  2.3% → 3.2%
• Vanguard Index Funds+23%more sharesIncreased
  3.2% → 3.8%
• iShares Russell 1000 ETF+0.6 ppof portfolioNew
  — → 0.6%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• State Str Spdr S&P 500 ETF TSPY9.0%
• iShares Core S&P 500 ETFIVV6.0%
• Vanguard S&P 500 ETFVOO4.9%
• Vanguard Index FundsVTI3.8%
• iShares Core S&P Total U.s ETFITOT3.6%
• NVIDIANVDA3.6%
• J P Morgan Exchange Traded FundBBUS3.2%
• Invesco Nasdaq 100 ETFQQQM3.2%
• AppleAAPL3.1%
• STE Str SPDR PT S&P 500 ETFSPYM3.0%
• Schwab US Large-cap ETFSCHX2.9%
• AlphabetGOOGL · GOOG2.7%
• Amazon.comAMZN2.0%
• MicrosoftMSFT2.0%
• Invesco QQQ Trust Series 1 ETFQQQ1.9%
• iShares US Treasury Bond ETFGOVT1.4%
• Fidelity Nasdaq Comp Indx ETFONEQ1.3%
• BroadcomAVGO1.3%
• Micron TechnologyMU1.2%
• Vanguard Index FundsVV1.0%
• TeslaTSLA1.0%
• Meta PlatformsMETA0.9%
• Advanced Micro DevicesAMD0.9%
• VisaV0.8%
• Costco WholesaleCOST0.7%
• IntelINTC0.6%
• iShares Russell 1000 ETFIWB0.6%
• Texas InstrumentsTXN0.6%
• Eli LillyLLY0.6%
• Applied MaterialsAMAT0.6%
• JPMorgan ChaseJPM0.5%
• Lam ResearchLRCX0.5%
• WalmartWMT0.5%
• S&P GlobalSPGI0.5%
• LindeLIN0.5%
• Cisco SystemsCSCO0.5%
• AmphenolAPH0.4%
• DeereDE0.4%
• KLAKLAC0.4%
• Johnson & JohnsonJNJ0.4%
• Berkshire HathawayBRK/B0.4%
• Sherwin-williamsSHW0.3%
• TJXTJX0.3%
• ZoetisZTS0.3%
• CaterpillarCAT0.3%
• Tractor SupplyTSCO0.3%
• ResMedRMD0.3%
• Service Corporation InternationalSCI0.3%
• SandiskSNDK0.3%
• CintasCTAS0.3%
• FastenalFAST0.3%
• Edwards LifesciencesEW0.3%
• Jack Henry & AssociatesJKHY0.3%
• NetflixNFLX0.3%
• Illinois Tool WorksITW0.3%
• Palo Alto NetworksPANW0.3%
• Church & DwightCHD0.3%
• MastercardMA0.3%
• Palantir TechnologiesPLTR0.3%
• Exxon MobilXOM0.3%
• AbbVieABBV0.3%
• UnitedHealth GroupUNH0.3%
• Verisk AnalyticsVRSK0.2%
• Goldman Sachs GroupGS0.2%
• GE AerospaceGE0.2%
• Home DepotHD0.2%
• RollinsROL0.2%
• Bank of AmericaBAC0.2%
• SterisSTE0.2%
• Procter & GamblePG0.2%
• AmgenAMGN0.2%
• ChevronCVX0.2%
• Coca-ColaKO0.2%
• Western DigitalWDC0.2%
• Seagate Technology HoldingsSTX0.2%
• Marvell TechnologyMRVL0.2%
• Tradeweb MarketsTW0.2%
• MerckMRK0.2%
• QualcommQCOM0.2%
• CrowdStrike HoldingsCRWD0.2%
• Analog DevicesADI0.2%
• GE VernovaGEV0.2%
• Philip Morris InternationalPM0.2%
• International Business MachinesIBM0.2%
• PepsicoPEP0.2%
• WelltowerWELL0.2%
• Morgan StanleyMS0.2%
• CopartCPRT0.2%
• RTXRTX0.2%
• Gilead SciencesGILD0.1%
• Wells FargoWFC0.1%
• OracleORCL0.1%
• AppLovinAPP0.1%
• Booking HoldingsBKNG0.1%
• Intuitive SurgicalISRG0.1%
• PrologisPLD0.1%
• American ExpressAXP0.1%
• CitigroupC0.1%
• McDONALD’SMCD0.1%