Mizuho Portfolio Rebalance
Mizuho Markets Cayman LP Shifts Q1 Holdings, Trimming Bonds for Tech and Infrastructure
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Key Points
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In Q1, Mizuho Markets Cayman LP reduced its SHY stake by 55.8% to 650,000 shares, which represents roughly 2.9% of the fund’s total holdings and positions SHY as its 9th largest holding, with the stake valued at about $53.67 million.
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The ARM Holdings PLC Sponsored ADR position was increased to 31,654 shares (a gain of 15,688 shares in the quarter), worth about $4.79 million. ARM shares opened at $283.40, with a 50-day moving average of $328.16 and a 200-day moving average of $206.83, and the stock carries a market cap around $303 billion, a P/E of 337.38 and a beta of 3.76.
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HA Sustainable Infrastructure Capital, Inc. (HAIS) saw a purchase of 900,000 shares, costing about $33.08 million, accounting for roughly 1.8% of Mizuho’s portfolio and making it the 12th-largest holding.
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Applied Materials, Inc. (AMAT) positioned to 28,465 shares after adding 14,199 in the quarter, valued at about $9.73 million and representing roughly 0.5% of Mizuho’s holdings, ranking it as the 25th largest position.
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Automatic Data Processing, Inc. (ADP) received a fresh stake of 7,336 shares, valued at about $1.49 million for the quarter.
Mizuho Markets Cayman LP made sweeping changes to its portfolio in the first quarter, adding big new bets on tech and clean energy while cutting its short-term bond exposure nearly in half, according to Ticker Report and Watchlist News.
The fund slashed its position in the iShares 1-3 Year Treasury Bond ETF by 55.8%, dropping to 650,000 shares worth about $53.67 million. At the same time, it loaded up on ARM Holdings, clean energy REIT HA Sustainable Infrastructure Capital, Applied Materials, and payroll giant Automatic Data Processing.
ARM Holdings Bet Nearly Doubles in Q1
Mizuho added 15,688 shares of ARM Holdings during the quarter, bringing its total to 31,654 shares — a gain of nearly 98%, according to Watchlist News. The stake is now worth about $4.79 million. ARM shares opened at $283.40, well below their 50-day moving average of $328.16.
ARM carries a hefty price-to-earnings ratio of 337.38 and a beta of 3.76, meaning the stock swings hard with the market. Its market cap sits around $303 billion. The move signals Mizuho's strong belief in the chip and AI infrastructure boom.
Clean Energy REIT Becomes a Top-12 Holding
Mizuho bought 900,000 shares of HA Sustainable Infrastructure Capital for roughly $33.08 million, according to Ticker Report. That single purchase made the clean energy real estate trust the fund's 12th-largest holding, accounting for about 1.8% of the total portfolio.
HA Sustainable Infrastructure Capital focuses on climate-positive real estate and infrastructure assets. The size of the buy — nearly $33 million in one quarter — stands out as one of Mizuho's largest new positions in the period.
Applied Materials and ADP Round Out Tech Expansion
Mizuho nearly doubled its Applied Materials stake, adding 14,199 shares to reach a total of 28,465 shares, valued at about $9.73 million. The chipmaking equipment maker now ranks as the fund's 25th-largest position, making up roughly 0.5% of holdings, per Watchlist News.
The fund also opened a fresh position in Automatic Data Processing, buying 7,336 shares worth about $1.49 million. ADP provides payroll and HR software to businesses worldwide. The new stake fits Mizuho's broader push into technology-enabled service companies this quarter.
Bond ETF Cut Points to Shifting Rate Outlook
The deepest cut of the quarter came in short-term Treasuries. Mizuho trimmed its iShares 1-3 Year Treasury Bond ETF stake by more than half — from roughly 1.47 million shares down to 650,000. The remaining position is worth about $53.67 million and still ranks as the fund's 9th-largest holding.
Short-term Treasury ETFs like SHY tend to attract money when investors want safety. Selling them aggressively suggests Mizuho is rotating out of defensive assets and into higher-growth bets. The fund also added new positions in Freeport-McMoRan, Verizon, Energy Transfer, and iShares Silver Trust during the same period, per Watchlist News.
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