NOMURA ASSET MANAGEMENT CO LTD
"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.
13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.
We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 51 quarters, returned +1.3% per quarter — versus +2.0% per quarter from simply owning every 13F stock. It beat that baseline in only 33.3% of quarters (excess t = -0.03, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry after the actual SEC deadline plus a 2-day buffer
Top 20 holdings of 1407 · 2026 Q2
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| NVDA | $4.2B | | ADD +6% |
| AVGO | $2.0B | | TRIM −7% |
| AAPL | $2.0B | | TRIM −2% |
| MSFT | $1.4B | | TRIM −4% |
| MU | $1.4B | | ADD +21% |
| GOOGL | $1.3B | | ADD +8% |
| AMZN | $1.2B | | ADD +5% |
| AMAT | $918M | | ADD +6% |
| GOOG | $838M | | TRIM −7% |
| META | $568M | | TRIM −3% |
| TSLA | $529M | | ADD +3% |
| AMD | $483M | | ADD +21% |
| LLY | $483M | | ADD +6% |
| KLAC | $471M | | TRIM −23% |
| JPM | $420M | | ADD +5% |
| ALAB | $412M | | ADD +89% |
| CAT | $385M | | HOLD |
| MA | $373M | | ADD +6% |
| CSCO | $363M | | TRIM −16% |
| WELL | $324M | | ADD +5% |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q2
Method & Limitations
Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry is the first trading session after the actual SEC filing deadline plus a 2-day buffer. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.