FACTORY MUTUAL INSURANCE CO
Long book
$8.89B
Q1 2026
Positions
196
Top-10 weight
34%
concentration
Last quarter
+13.0%
SPY +14.8%
Turnover
12%
of book per quarter
Strategy in plain words
auto-generated from filingsFACTORY MUTUAL INSURANCE CO is a diversified fundamental manager, running a $8.89B US long book across 196 positions.
The portfolio is moderately concentrated (top 10 ≈ 34% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: NVIDIA CORP, APPLE INC, ALPHABET INC-CL C, MICROSOFT CORP, AMAZON.COM INC.
Over the last 9 quarters its long book ran on average 0.1pp per quarter behind the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+3.9%
Q2 2024
+5.8%
Q3 2024
+0.9%
Q4 2024
-2.9%
Q1 2025
+10.8%
Q2 2025
+8.2%
Q3 2025
+2.8%
Q4 2025
-3.2%
Q1 2026
+13.0%
Sector allocation
Technology 45%
Financials 11%
Consumer discretionary 10%
Industrials 9%
Healthcare 7%
Services media 5%
Energy 4%
Other 4%
Long book by quarter
What does FACTORY MUTUAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 2.9M | $506.2M | 5.7% | -0.7% |
| AAPL APPLE INC | Technology | 1.7M | $431.6M | 4.9% | -1.5% |
| GOOG ALPHABET INC-CL C | Technology | 1.5M | $430.2M | 4.8% | +1.4% |
| MSFT MICROSOFT CORP | Technology | 972.6K | $360.0M | 4.1% | -3.6% |
| AMZN AMAZON.COM INC | Consumer discretionary | 1.4M | $286.2M | 3.2% | +3.2% |
| AVGO BROADCOM INC | Technology | 750.1K | $232.2M | 2.6% | +3.5% |
| META META PLATFORMS INC-CLASS A | Technology | 285.6K | $163.4M | 1.8% | -2.0% |
| JPM JPMORGAN CHASE & CO | Financials | 519.2K | $152.7M | 1.7% | +5.2% |
| XOM EXXON MOBIL CORP | Energy | 680.7K | $115.5M | 1.3% | +2.7% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 237.0K | $113.6M | 1.3% | +2.6% |
| V VISA INC-CLASS A SHARES | Services media | 357.3K | $108.0M | 1.2% | +7.3% |
| TSLA TESLA INC | Industrials | 269.4K | $100.1M | 1.1% | +2.6% |
| KLAC KLA CORP | Other | 64.0K | $94.3M | 1.1% | +9.2% |
| CDNS CADENCE DESIGN SYS INC | Technology | 291.8K | $81.1M | 0.9% | +32.4% |
| JNJ JOHNSON & JOHNSON | Healthcare | 318.2K | $77.8M | 0.9% | -15.9% |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 57.2K | $75.6M | 0.9% | -5.7% |
| WMT WALMART INC | Consumer discretionary | 608.2K | $75.6M | 0.9% | -0.6% |
| CVX CHEVRON CORP | Energy | 363.1K | $75.1M | 0.8% | +3.1% |
| LLY ELI LILLY & CO | Healthcare | 81.2K | $74.6M | 0.8% | -5.5% |
| UNH UNITEDHEALTH GROUP INC | Financials | 263.3K | $71.2M | 0.8% | +9.4% |
| PM PHILIP MORRIS INTERNATIONAL | Consumer staples | 430.6K | $71.2M | 0.8% | +2.9% |
| MU MICRON TECHNOLOGY INC | Technology | 170.8K | $57.7M | 0.6% | +12.1% |
| PG PROCTER & GAMBLE CO/THE | Other | 397.5K | $57.4M | 0.6% | +2.6% |
| KO COCA-COLA CO/THE | Consumer staples | 726.4K | $55.2M | 0.6% | +2.6% |
| MS MORGAN STANLEY | Financials | 329.1K | $54.2M | 0.6% | Held |
| APH AMPHENOL CORP-CL A | Technology | 420.4K | $53.1M | 0.6% | +9.5% |
| UNP UNION PACIFIC CORP | Industrials | 209.2K | $50.7M | 0.6% | -8.2% |
| LIN LINDE PLC | Materials | 101.5K | $50.3M | 0.6% | +3.9% |
| ETN EATON CORP PLC | Industrials | 140.1K | $50.1M | 0.6% | +0.6% |
| PFGC PERFORMANCE FOOD GROUP CO | Consumer discretionary | 571.5K | $49.0M | 0.6% | +185.7% |
| AME AMETEK INC | Technology | 217.3K | $46.6M | 0.5% | +1.0% |
| HD HOME DEPOT INC | Consumer discretionary | 138.4K | $45.5M | 0.5% | +2.4% |
| CAT CATERPILLAR INC | Industrials | 64.1K | $45.4M | 0.5% | +0.8% |
| MPWR MONOLITHIC POWER SYSTEMS INC | Technology | 40.0K | $43.7M | 0.5% | +1.8% |
| RTX RTX CORP | Industrials | 221.8K | $42.8M | 0.5% | +0.8% |
| MCD MCDONALD'S CORP | Consumer discretionary | 136.2K | $42.3M | 0.5% | +4.0% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 840.7K | $42.2M | 0.5% | +1.3% |
| DHR DANAHER CORP | Technology | 216.8K | $41.1M | 0.5% | +2.6% |
| NOW SERVICENOW INC | Technology | 392.8K | $41.1M | 0.5% | -16.4% |
| ANET ARISTA NETWORKS INC | Technology | 334.0K | $41.0M | 0.5% | +1.7% |
| TJX TJX COMPANIES INC | Consumer discretionary | 255.2K | $40.8M | 0.5% | +1.3% |
| ABBV ABBVIE INC | Healthcare | 186.7K | $40.6M | 0.5% | +0.8% |
| ACN ACCENTURE PLC-CL A | Services media | 202.5K | $40.2M | 0.5% | +1.5% |
| INTU INTUIT INC | Technology | 92.2K | $39.8M | 0.4% | +71.0% |
| LHX L3HARRIS TECHNOLOGIES INC | Technology | 114.9K | $39.7M | 0.4% | +2.1% |
| ALGN ALIGN TECHNOLOGY INC | Healthcare | 228.7K | $39.2M | 0.4% | +56.0% |
| WFC WELLS FARGO & CO | Financials | 476.2K | $37.9M | 0.4% | -30.9% |
| GE GENERAL ELECTRIC | Industrials | 133.3K | $37.8M | 0.4% | -9.7% |
| CNQ CANADIAN NATURAL RESOURCES | Energy | 773.0K | $37.7M | 0.4% | +3.4% |
| KKR KKR & CO INC | Financials | 399.0K | $36.9M | 0.4% | +5.8% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 5, 2026 | 196 | $8.89B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 23, 2026 | 196 | $9.86B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 10, 2025 | 195 | $10.27B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 7, 2025 | 162 | $9.15B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 17, 2025 | 167 | $8.62B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 24, 2025 | 172 | $9.25B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 10, 2024 | 173 | $9.67B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 23, 2024 | 170 | $8.78B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 12, 2024 | 169 | $8.71B | canonical | SEC ↗ |
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