Shelter Mutual Insurance Co
Long book
$449.8M
Q1 2026
Positions
58
Top-10 weight
37%
concentration
Last quarter
+6.4%
SPY +14.8%
Turnover
3%
of book per quarter
Strategy in plain words
auto-generated from filingsShelter Mutual Insurance Co is an institutional manager, running a $449.8M US long book across 58 positions.
The portfolio is moderately concentrated (top 10 ≈ 37% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: BERKSHIRE HATHAWAY INC-CL A, VANGUARD TOTAL INTL STOCK, ISHARES CORE S&P 500 ETF, WALMART INC, CATERPILLAR INC.
Over the last 9 quarters its long book ran on average 1.5pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-0.4%
Q2 2024
+8.9%
Q3 2024
-2.5%
Q4 2024
+3.9%
Q1 2025
+4.5%
Q2 2025
+4.3%
Q3 2025
+1.2%
Q4 2025
+0.8%
Q1 2026
+6.4%
Sector allocation
Financials 21%
Industrials 18%
Healthcare 13%
Technology 13%
Consumer discretionary 11%
Materials 5%
Services media 4%
Energy 4%
Long book by quarter
What does Shelter Mutual own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 34 | $24.4M | 5.4% | Held |
| WMT WALMART INC | Consumer discretionary | 121.8K | $15.1M | 3.4% | Held |
| CAT CATERPILLAR INC | Industrials | 20.7K | $14.7M | 3.3% | Held |
| CME CME GROUP INC | Financials | 45.9K | $13.6M | 3.0% | Held |
| LIN LINDE PLC | Materials | 26.4K | $13.1M | 2.9% | Held |
| ABBV ABBVIE INC | Healthcare | 56.9K | $12.4M | 2.8% | Held |
| VRTX VERTEX PHARMACEUTICALS INC | Healthcare | 27.6K | $12.3M | 2.7% | Held |
| V VISA INC-CLASS A SHARES | Services media | 40.6K | $12.3M | 2.7% | Held |
| ORCL ORACLE CORP | Technology | 82.7K | $12.2M | 2.7% | Held |
| DE DEERE & CO | Industrials | 20.3K | $11.4M | 2.5% | Held |
| XOM EXXON MOBIL CORP | Energy | 65.2K | $11.1M | 2.5% | Held |
| LOW LOWE'S COS INC | Consumer discretionary | 41.1K | $9.7M | 2.2% | Held |
| IBM INTL BUSINESS MACHINES CORP | Technology | 38.5K | $9.3M | 2.1% | Held |
| ITW ILLINOIS TOOL WORKS | Industrials | 35.8K | $9.3M | 2.1% | Held |
| AXP AMERICAN EXPRESS CO | Financials | 28.7K | $8.7M | 1.9% | Held |
| PG PROCTER & GAMBLE CO/THE | Other | 59.7K | $8.6M | 1.9% | Held |
| UNP UNION PACIFIC CORP | Industrials | 35.5K | $8.6M | 1.9% | Held |
| JPM JPMORGAN CHASE & CO | Financials | 29.0K | $8.5M | 1.9% | Held |
| PEP PEPSICO INC | Consumer staples | 51.0K | $7.9M | 1.8% | Held |
| NEE NEXTERA ENERGY INC | Utilities | 82.5K | $7.7M | 1.7% | Held |
| VRSK VERISK ANALYTICS INC | Technology | 39.7K | $7.5M | 1.7% | Held |
| QCOM QUALCOMM INC | Technology | 51.1K | $6.6M | 1.5% | Held |
| TGT TARGET CORP | Consumer discretionary | 47.6K | $5.8M | 1.3% | Held |
| BKNG BOOKING HOLDINGS INC | Industrials | 1.1K | $4.6M | 1.0% | Held |
| GILD GILEAD SCIENCES INC | Healthcare | 32.1K | $4.5M | 1.0% | Held |
| PFE PFIZER INC | Healthcare | 145.8K | $4.1M | 0.9% | Held |
| BN BROOKFIELD CORP | Real estate | 84.2K | $3.4M | 0.8% | Held |
| BMY BRISTOL-MYERS SQUIBB CO | Healthcare | 53.8K | $3.3M | 0.7% | Held |
| OTIS OTIS WORLDWIDE CORP | Industrials | 31.2K | $2.4M | 0.5% | Held |
| MKL MARKEL GROUP INC | Financials | 1.2K | $2.3M | 0.5% | Held |
| HAS HASBRO INC | Other | 23.7K | $2.2M | 0.5% | Held |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 3.5K | $1.7M | 0.4% | Held |
| STZ CONSTELLATION BRANDS INC-A | Consumer staples | 10.3K | $1.5M | 0.3% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 29, 2026 | 58 | $449.8M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 58 | $448.3M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 31, 2025 | 58 | $445.9M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 29, 2025 | 58 | $431.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 22, 2025 | 57 | $414.8M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 7, 2025 | 57 | $401.2M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 8, 2024 | 57 | $418.7M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 25, 2024 | 58 | $384.3M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 6, 2024 | 68 | $388.1M | canonical | SEC ↗ |
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