NOMURA ASSET MANAGEMENT CO LTD's Q3 2025 13F: 28 new positions, 274 exits
Form 13F-HR for the quarter ended Sep 30, 2025 · filed Nov 12, 2025 · 1509 reported positions · accession 0001140361-25-041571
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | NVIDIA CORPORATION (NVDA) | 8.1% | 8.7% | +0.7 pts | −713K sh | −4% |
| Reduced | ORACLE CORP (ORCL) | 0.8% | 0.7% | −0.1 pts | −400K sh | −30% |
| Reduced | MICRON TECHNOLOGY INC (MU) | 1.0% | 1.0% | +0.1 pts | −497K sh | −18% |
| Increased | CISCO SYS INC (CSCO) | 0.5% | 0.6% | +0.2 pts | +1.06M sh | +41% |
| Reduced | TEXAS INSTRS INC (TXN) | 0.4% | 0.2% | −0.2 pts | −378K sh | −52% |
| Reduced | JOHNSON & JOHNSON (JNJ) | 0.8% | 0.7% | −0.1 pts | −366K sh | −19% |
| Reduced | ALPHABET INC (GOOG) | 1.4% | 1.7% | +0.3 pts | −270K sh | −9% |
| Increased | AMAZON COM INC (AMZN) | 2.8% | 2.8% | 0.0 pts | +275K sh | +6% |
| Increased | CLOUDFLARE INC (NET) | 0.1% | 0.2% | +0.2 pts | +280K sh | +246% |
| Reduced | ASTERA LABS INC (ALAB) | 0.1% | 0.1% | 0.0 pts | −307K sh | −52% |
| Increased | SERVICENOW INC (NOW) | 0.3% | 0.4% | +0.1 pts | +63,542 sh | +57% |
| Increased | WESTERN DIGITAL CORP (WDC) | 0.1% | 0.3% | +0.2 pts | +470K sh | +127% |
| Increased | LIVE NATION ENTERTAINMENT IN (LYV) | 0.0% | 0.2% | +0.1 pts | +342K sh | +387% |
| Increased | MONOLITHIC PWR SYS INC (MPWR) | 0.1% | 0.3% | +0.2 pts | +53,629 sh | +78% |
| Reduced | CYBERARK SOFTWARE LTD (CYBR) | 0.1% | 0.0% | −0.1 pts | −100K sh | −87% |
| Increased | MICROSOFT CORP (MSFT) | 5.3% | 5.4% | +0.1 pts | +89,730 sh | +2% |
| Reduced | KLA CORP (KLAC) | 0.5% | 0.5% | 0.0 pts | −42,355 sh | −19% |
| Increased | PROGRESSIVE CORP (PGR) | 0.5% | 0.6% | +0.1 pts | +184K sh | +26% |
| Reduced | QUALCOMM INC (QCOM) | 0.5% | 0.4% | −0.1 pts | −262K sh | −22% |
| Increased | LUMENTUM HLDGS INC (LITE) | 0.0% | 0.1% | +0.1 pts | +255K sh | +65308% |
| Reduced | ALPHABET INC (GOOGL) | 1.5% | 1.8% | +0.4 pts | −166K sh | −5% |
| Increased | MONGODB INC (MDB) | 0.0% | 0.1% | +0.1 pts | +128K sh | +271% |
| Reduced | DATADOG INC (DDOG) | 0.2% | 0.1% | −0.1 pts | −277K sh | −66% |
| Reduced | CINTAS CORP (CTAS) | 0.4% | 0.2% | −0.1 pts | −172K sh | −30% |
| Reduced | VANGUARD SCOTTSDALE FDS (VGSH) | 0.2% | 0.1% | −0.1 pts | −599K sh | −41% |
| Reduced | AT&T INC (T) | 0.3% | 0.2% | −0.1 pts | −1.19M sh | −30% |
| New | VARONIS SYS INC (VRNS) | — | 0.1% | +0.1 pts | +541K sh | new |
| Reduced | CADENCE DESIGN SYSTEM INC (CDNS) | 0.3% | 0.3% | −0.1 pts | −85,200 sh | −23% |
| Reduced | KINDER MORGAN INC DEL (KMI) | 0.1% | 0.1% | −0.1 pts | −1.05M sh | −60% |
| Increased | NATERA INC (NTRA) | 0.0% | 0.1% | +0.1 pts | +176K sh | +378% |
| Reduced | ROSS STORES INC (ROST) | 0.2% | 0.2% | 0.0 pts | −185K sh | −32% |
| Increased | SNOWFLAKE INC (SNOW) | 0.1% | 0.2% | +0.1 pts | +125K sh | +66% |
| Increased | ARISTA NETWORKS INC (ANET) | 0.1% | 0.2% | +0.1 pts | +192K sh | +54% |
| Reduced | CROWDSTRIKE HLDGS INC (CRWD) | 0.3% | 0.2% | −0.1 pts | −55,298 sh | −27% |
| Reduced | CATERPILLAR INC (CAT) | 0.4% | 0.4% | 0.0 pts | −56,427 sh | −17% |
| Reduced | COPART INC (CPRT) | 0.3% | 0.2% | −0.1 pts | −597K sh | −30% |
| Increased | CONSTELLATION ENERGY CORP (CEG) | 0.1% | 0.2% | +0.1 pts | +78,242 sh | +54% |
| Increased | QUANTA SVCS INC (PWR) | 0.1% | 0.1% | +0.1 pts | +60,649 sh | +85% |
| Reduced | JPMORGAN CHASE & CO. (JPM) | 1.0% | 1.0% | 0.0 pts | −79,275 sh | −6% |
| Reduced | GE VERNOVA INC (GEV) | 0.3% | 0.3% | 0.0 pts | −40,016 sh | −19% |
| Increased | THE TRADE DESK INC (TTD) | 0.2% | 0.2% | 0.0 pts | +502K sh | +45% |
| Increased | META PLATFORMS INC (META) | 2.0% | 2.0% | 0.0 pts | +33,446 sh | +3% |
| Increased | BROADCOM INC (AVGO) | 4.0% | 4.6% | +0.6 pts | +72,849 sh | +1% |
| Reduced | TRACTOR SUPPLY CO (TSCO) | 0.1% | 0.1% | −0.1 pts | −415K sh | −45% |
| Increased | ABBOTT LABS (ABT) | 0.3% | 0.4% | 0.0 pts | +171K sh | +18% |
| Reduced | TAIWAN SEMICONDUCTOR MFG LTD (TSM) | 0.2% | 0.2% | 0.0 pts | −81,135 sh | −22% |
| Reduced | WELLS FARGO CO NEW (WFC) | 0.4% | 0.3% | −0.1 pts | −261K sh | −16% |
| Reduced | MSCI INC (MSCI) | 0.2% | 0.1% | −0.1 pts | −38,458 sh | −40% |
| Reduced | ROYAL CARIBBEAN GROUP (RCL) | 0.1% | 0.1% | −0.1 pts | −67,407 sh | −44% |
| Increased | COHERENT CORP (COHR) | 0.0% | 0.1% | +0.1 pts | +191K sh | +109% |
The 50 largest of 1,128 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:
- SOUTHSTATE BK CORP (SSB): 840441109 → 84472E102, 580 → 580 shares
- GLOBAL MED REIT INC (GMRE): 37954A204 → 37954A303, 88,000 → 17,600 shares (share count change consistent with a stock split)
- UNITI GROUP LLC (UNIT): 91325V108 → 912932100, 342K → 3,436 shares (share count changed with the identifier; not shown as a trade)
Top 10 positions — 34.2% of the equity book
No changes in the top 10 this quarter
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | NVIDIA CORPORATION (NVDA) | 8.1% | 8.7% | |
| 2 | MICROSOFT CORP (MSFT) | 5.3% | 5.4% | |
| 3 | APPLE INC (AAPL) | 4.0% | 4.7% | |
| 4 | BROADCOM INC (AVGO) | 4.0% | 4.6% | |
| 5 | AMAZON COM INC (AMZN) | 2.8% | 2.8% | |
| 6 | META PLATFORMS INC (META) | 2.0% | 2.0% | |
| 7 | ALPHABET INC (GOOGL) | 1.5% | 1.8% | |
| 8 | ALPHABET INC (GOOG) | 1.4% | 1.7% | |
| 9 | TESLA INC (TSLA) | 1.0% | 1.4% | |
| 10 | MASTERCARD INCORPORATED (MA) | 1.1% | 1.1% |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).