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Japan Science & Technology Agency

5-3, YONBANCHO, CHIYODA-KU, TOKYO, M0 102-8666 • 81-3-5214-8405

Q3 2025 · Filed 2025-10-28
Market Value
$5.6B
-10.8%
Holdings
17
+4
New Purchases
4
Added To
1
Closed
4
Reduced
2
Top 10 Concentration
95.5%
Turnover
47.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
EMB 4.24% 0.00% +4.24% $238M
USHY 8.62% 5.25% +3.37% $484M
QQQ 3.19% 0.00% +3.19% $179M
VUG 3.00% 0.00% +3.00% $168M
IVV 13.95% 11.54% +2.41% $784M
LQD 26.21% 24.03% +2.18% $1.5B
RSP 12.81% 10.94% +1.87% $719M
HYG 15.02% 13.30% +1.72% $844M
IEMG 1.28% 0.00% +1.28% $72M
JNK 5.06% 4.48% +0.58% $284M
SHYG 3.43% 3.05% +0.38% $193M
VTV 1.19% 1.00% +0.18% $67M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VCIT 0.00% 8.78% -8.78% $0
IGSB 0.00% 8.18% -8.18% $0
IGIB 0.00% 3.72% -3.72% $0
VCSH 0.00% 2.61% -2.61% $0
USIG 2.00% 3.10% -1.10% $112M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 100.0%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 4 $1.2B 21.3%
Large Cap 11 $3.9B 70.2%
Mid Cap 2 $477M 8.5%

Portfolio Analytics

Avg Market Cap
$141.4B
Median Market Cap
$31.3B
Avg P/E
Median P/E
Avg Dividend Yield
—%
Avg Beta
0.87
# Stocks
0
# ETFs / Funds
17

Top Holdings (17 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 LQD 26.21% 13,206,450 $1.5B $111.47 -$41M -600,000 -4.3%
2 HYG 15.02% 10,390,626 $844M $81.19 $6M
3 IVV 13.95% 1,170,800 $784M $669.30 $57M
4 RSP 12.81% 3,792,112 $719M $189.70 $30M
5 USHY 8.62% 12,819,906 $484M $37.78 $154M +4,000,000 +45.4%
6 JNK 5.06% 2,900,000 $284M $97.99 $2M
7 EMB 4.24% 2,500,000 $238M $95.19 +2,500,000 NEW
8 SHYG 3.43% 4,450,000 $193M $43.30 $712K
9 QQQ 3.19% 298,667 $179M $600.37 +298,667 NEW
10 VUG 3.00% 350,953 $168M $479.61 +350,953 NEW
11 USIG 2.00% 2,150,000 $112M $52.22 -$83M -1,650,000 -43.4%
12 IEMG 1.28% 1,094,470 $72M $65.92 +1,094,470 NEW
13 VTV 1.19% 357,328 $67M $186.49 $3M
14 IGIB —% -$234M -4,400,000 -100.0% SOLD
15 VCIT —% -$553M -6,670,000 -100.0% SOLD
16 IGSB —% -$515M -9,770,000 -100.0% SOLD
17 VCSH —% -$165M -2,070,000 -100.0% SOLD

New Positions

SymbolValue% Port
EMB $238M 4.24%
QQQ $179M 3.19%
VUG $168M 3.00%
IEMG $72M 1.28%

Sold Out Positions

SymbolValue% Port
IGIB —%
IGSB —%
VCIT —%
VCSH —%
View SEC EDGAR Filings for Japan Science & Technology Agency →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms