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National Mutual Insurance Federation of Agricultural Cooperatives

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13F filer, CIK 1542927, TOKYO, JAPAN, Japan

National Mutual Insurance Federation of Agricultural Cooperatives reported $12,357,582,143 across 43 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-08. Its ten largest share positions make up 90.9% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000929638-25-002941

Period
2025-06-30
Reported value
$12.4B
Holdings
43
Top 10 weight
90.9%
New
1
Sold out
1

Part of the filer group National Mutual Insurance Federation of Agricultural Cooperatives

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
SPYMadded+583,000$42.4M
COSTadded+10,700$10.6M
AMATnew+31,500$5.77M
LLYadded+7,000$5.46M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
QQQMreduced-310,000-$70.4M
MUreduced-150,000-$18.5M
MDTexited-127,000-$11.4M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0000929638-25-002941, largest first. % of portfolio is the value over $12,357,582,143, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
IVVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,581,847 shares; 2024Q4: 3,581,847 shares; 2025Q1: 3,581,847 shares; 2025Q2: 3,581,847 shares 3,581,847$2.22B18%0Timeline
VVVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,543,317 shares; 2024Q4: 6,543,317 shares; 2025Q1: 6,543,317 shares; 2025Q2: 6,543,317 shares 6,543,317$1.87B15.11%0Timeline
VOOVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,925,650 shares; 2024Q4: 2,925,650 shares; 2025Q1: 2,925,650 shares; 2025Q2: 2,925,650 shares 2,925,650$1.66B13.45%0Timeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,617,832 shares; 2024Q4: 2,617,832 shares; 2025Q1: 2,617,832 shares; 2025Q2: 2,617,832 shares 2,617,832$1.62B13.09%0Timeline
QQQINVESCO QQQ TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,759,000 shares; 2024Q4: 1,759,000 shares; 2025Q1: 1,759,000 shares; 2025Q2: 1,759,000 shares 1,759,000$970M7.85%0Timeline
VTIVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,686,800 shares; 2024Q4: 2,686,800 shares; 2025Q1: 2,686,800 shares; 2025Q2: 2,686,800 shares 2,686,800$817M6.61%0Timeline
SPYMSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,555,000 shares; 2024Q4: 8,953,000 shares; 2025Q1: 8,953,000 shares; 2025Q2: 9,536,000 shares 9,536,000$693M5.61%+583,000Timeline
QQQMINVESCO EXCH TRADED FD TR IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,370,000 shares; 2024Q4: 3,083,000 shares; 2025Q1: 3,265,000 shares; 2025Q2: 2,955,000 shares 2,955,000$671M5.43%-310,000Timeline
LQDISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,040,400 shares; 2024Q4: 4,040,400 shares; 2025Q1: 4,040,400 shares; 2025Q2: 4,040,400 shares 4,040,400$443M3.58%0Timeline
IWBISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 791,000 shares; 2024Q4: 791,000 shares; 2025Q1: 791,000 shares; 2025Q2: 791,000 shares 791,000$269M2.17%0Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 177,900 shares; 2024Q4: 177,900 shares; 2025Q1: 177,900 shares; 2025Q2: 177,900 shares 177,900$88.5M0.72%0Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 315,000 shares; 2024Q4: 416,000 shares; 2025Q1: 511,000 shares; 2025Q2: 511,000 shares 511,000$80.7M0.65%0Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,600 shares; 2024Q4: 92,600 shares; 2025Q1: 92,600 shares; 2025Q2: 92,600 shares 92,600$68.3M0.55%0Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 319,400 shares; 2024Q4: 319,400 shares; 2025Q1: 319,400 shares; 2025Q2: 319,400 shares 319,400$65.5M0.53%0Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 360,500 shares; 2024Q4: 360,500 shares; 2025Q1: 360,500 shares; 2025Q2: 360,500 shares 360,500$63.5M0.51%0Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 270,000 shares; 2024Q4: 270,000 shares; 2025Q1: 270,000 shares; 2025Q2: 270,000 shares 270,000$59.2M0.48%0Timeline
BBUSJ P MORGAN EXCHANGE TRADED FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 463,000 shares; 2025Q1: 463,000 shares; 2025Q2: 463,000 shares 463,000$51.8M0.42%0Timeline
JPMJPMORGAN CHASE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 160,900 shares; 2024Q4: 160,900 shares; 2025Q1: 160,900 shares; 2025Q2: 160,900 shares 160,900$46.6M0.38%0Timeline
ISRGINTUITIVE SURGICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 89,400 shares; 2024Q4: 72,200 shares; 2025Q1: 72,200 shares; 2025Q2: 72,200 shares 72,200$39.2M0.32%0Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 110,300 shares; 2024Q4: 110,300 shares; 2025Q1: 110,300 shares; 2025Q2: 110,300 shares 110,300$39.2M0.32%0Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 68,100 shares; 2024Q4: 68,100 shares; 2025Q1: 68,100 shares; 2025Q2: 68,100 shares 68,100$38.3M0.31%0Timeline
INTUINTUITQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 42,900 shares; 2024Q4: 42,900 shares; 2025Q1: 42,900 shares; 2025Q2: 42,900 shares 42,900$33.8M0.27%0Timeline
WMTWALMART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 473,100 shares; 2024Q4: 473,100 shares; 2025Q1: 339,100 shares; 2025Q2: 339,100 shares 339,100$33.2M0.27%0Timeline
LLYELI LILLY & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,000 shares; 2024Q4: 19,600 shares; 2025Q1: 34,800 shares; 2025Q2: 41,800 shares 41,800$32.6M0.26%+7,000Timeline
BLKBLACKROCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 29,400 shares; 2025Q2: 29,400 shares 29,400$30.8M0.25%0Timeline
ETNEATON CORP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 84,300 shares; 2024Q4: 84,300 shares; 2025Q1: 84,300 shares; 2025Q2: 84,300 shares 84,300$30.1M0.24%0Timeline
ICEINTERCONTINENTAL EXCHANGE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 160,000 shares; 2024Q4: 160,000 shares; 2025Q1: 160,000 shares; 2025Q2: 160,000 shares 160,000$29.4M0.24%0Timeline
SPGIS&P GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 52,800 shares; 2024Q4: 52,800 shares; 2025Q1: 52,800 shares; 2025Q2: 52,800 shares 52,800$27.8M0.23%0Timeline
AZOAUTOZONE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,800 shares; 2024Q4: 6,800 shares; 2025Q1: 6,800 shares; 2025Q2: 6,800 shares 6,800$25.2M0.2%0Timeline
DISDISNEY WALT COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 193,000 shares; 2024Q4: 193,000 shares; 2025Q1: 193,000 shares; 2025Q2: 193,000 shares 193,000$23.9M0.19%0Timeline
COSTCOSTCO WHOLESALE CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,000 shares; 2024Q4: 13,000 shares; 2025Q1: 13,000 shares; 2025Q2: 23,700 shares 23,700$23.5M0.19%+10,700Timeline
EMREMERSON ELEC COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 170,800 shares; 2024Q4: 170,800 shares; 2025Q1: 170,800 shares; 2025Q2: 170,800 shares 170,800$22.8M0.18%0Timeline
TMOTHERMO FISHER SCIENTIFIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 55,900 shares; 2024Q4: 55,900 shares; 2025Q1: 55,900 shares; 2025Q2: 55,900 shares 55,900$22.7M0.18%0Timeline
KOCOCA COLA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 308,500 shares; 2024Q4: 308,500 shares; 2025Q1: 308,500 shares; 2025Q2: 308,500 shares 308,500$21.8M0.18%0Timeline
ZBRAZEBRA TECHNOLOGIES CORPORATIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 29,000 shares; 2024Q4: 29,000 shares; 2025Q1: 65,000 shares; 2025Q2: 65,000 shares 65,000$20M0.16%0Timeline
MUMICRON TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 312,000 shares; 2024Q4: 312,000 shares; 2025Q1: 312,000 shares; 2025Q2: 162,000 shares 162,000$20M0.16%-150,000Timeline
XOMEXXON MOBIL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 166,700 shares; 2024Q4: 166,700 shares; 2025Q1: 166,700 shares; 2025Q2: 166,700 shares 166,700$18M0.15%0Timeline
HONHONEYWELL INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,000 shares; 2024Q4: 71,000 shares; 2025Q1: 71,000 shares; 2025Q2: 71,000 shares 71,000$16.5M0.13%0Timeline
CVXCHEVRON CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 99,000 shares; 2024Q4: 99,000 shares; 2025Q1: 99,000 shares; 2025Q2: 99,000 shares 99,000$14.2M0.11%0Timeline
TRVTRAVELERS COMPANIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 104,000 shares; 2024Q4: 104,000 shares; 2025Q1: 50,000 shares; 2025Q2: 50,000 shares 50,000$13.4M0.11%0Timeline
DEDEERE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,000 shares; 2024Q4: 20,000 shares; 2025Q1: 20,000 shares; 2025Q2: 20,000 shares 20,000$10.2M0.08%0Timeline
NSCNORFOLK SOUTHN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 32,400 shares; 2024Q4: 32,400 shares; 2025Q1: 32,400 shares; 2025Q2: 32,400 shares 32,400$8.29M0.07%0Timeline
AMATAPPLIED MATLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 31,500 shares 31,500$5.77M0.05%newTimeline

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
MDTMEDTRONIC PLC127,000$11.4Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000929638-25-002941 base2025-08-08acceptance time not in the bulk data set