STATE FARM MUTUAL AUTOMOBILE INSURANCE CO
Long book
$126.86B
Q1 2026
Positions
113
Top-10 weight
48%
concentration
Last quarter
+14.5%
SPY +14.8%
Turnover
5%
of book per quarter
Strategy in plain words
auto-generated from filingsSTATE FARM MUTUAL AUTOMOBILE INSURANCE CO is an insurance company managing float, running a $126.86B US long book across 113 positions.
The portfolio is moderately concentrated (top 10 ≈ 48% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: CATERPILLAR INC, ELI LILLY & CO, JOHNSON & JOHNSON, APPLE INC, ILLINOIS TOOL WORKS.
Over the last 9 quarters its long book ran on average 0.2pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.5%
Q2 2024
+4.6%
Q3 2024
-4.1%
Q4 2024
+0.4%
Q1 2025
+4.5%
Q2 2025
+7.3%
Q3 2025
+7.3%
Q4 2025
+3.5%
Q1 2026
+14.5%
Sector allocation
Industrials 25%
Healthcare 23%
Technology 16%
Energy 7%
Consumer staples 6%
Other 5%
Materials 5%
Financials 5%
Long book by quarter
What does STATE FARM own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CAT CATERPILLAR INC | Industrials | 14.6M | $10.32B | 8.1% | -16.4% |
| LLY ELI LILLY & CO | Healthcare | 10.8M | $9.90B | 7.8% | -13.8% |
| JNJ JOHNSON & JOHNSON | Healthcare | 31.6M | $7.72B | 6.1% | Held |
| AAPL APPLE INC | Technology | 23.5M | $5.96B | 4.7% | -0.3% |
| ITW ILLINOIS TOOL WORKS | Industrials | 21.0M | $5.47B | 4.3% | Held |
| XOM EXXON MOBIL CORP | Energy | 30.5M | $5.18B | 4.1% | Held |
| WMT WALMART INC | Consumer discretionary | 39.0M | $4.85B | 3.8% | Held |
| NUE NUCOR CORP | Industrials | 24.2M | $4.09B | 3.2% | -0.5% |
| MSFT MICROSOFT CORP | Technology | 10.4M | $3.84B | 3.0% | Held |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 2.8M | $3.64B | 2.9% | Held |
| APD AIR PRODUCTS & CHEMICALS INC | Materials | 11.8M | $3.44B | 2.7% | Held |
| ADM ARCHER-DANIELS-MIDLAND CO | Consumer staples | 46.8M | $3.40B | 2.7% | Held |
| WFC WELLS FARGO & CO | Financials | 39.8M | $3.17B | 2.5% | -0.3% |
| GOOGL ALPHABET INC-CL A | Technology | 10.8M | $3.10B | 2.4% | Held |
| CVX CHEVRON CORP | Energy | 13.3M | $2.76B | 2.2% | Held |
| VMC VULCAN MATERIALS CO | Materials | 9.5M | $2.59B | 2.0% | -0.3% |
| PG PROCTER & GAMBLE CO/THE | Other | 15.8M | $2.28B | 1.8% | Held |
| KLAC KLA CORP | Other | 1.4M | $2.07B | 1.6% | -1.2% |
| ZTS ZOETIS INC | Healthcare | 15.9M | $1.88B | 1.5% | Held |
| GLW CORNING INC | Industrials | 13.4M | $1.83B | 1.4% | -3.6% |
| MRK MERCK & CO. INC. | Healthcare | 13.8M | $1.66B | 1.3% | Held |
| DE DEERE & CO | Industrials | 2.8M | $1.58B | 1.2% | -1.3% |
| PFE PFIZER INC | Healthcare | 54.5M | $1.53B | 1.2% | Held |
| DIS WALT DISNEY CO/THE | Services media | 15.1M | $1.46B | 1.1% | -33.4% |
| ABT ABBOTT LABORATORIES | Healthcare | 13.6M | $1.39B | 1.1% | Held |
| KO COCA-COLA CO/THE | Consumer staples | 18.2M | $1.39B | 1.1% | Held |
| INTU INTUIT INC | Technology | 3.1M | $1.32B | 1.0% | Held |
| ABBV ABBVIE INC | Healthcare | 5.9M | $1.28B | 1.0% | Held |
| INTC INTEL CORP | Technology | 26.6M | $1.17B | 0.9% | -0.5% |
| MMM 3M CO | Healthcare | 7.9M | $1.15B | 0.9% | Held |
| GE GENERAL ELECTRIC | Industrials | 3.9M | $1.10B | 0.9% | -1.0% |
| META META PLATFORMS INC-CLASS A | Technology | 1.9M | $1.09B | 0.9% | Held |
| AMGN AMGEN INC | Healthcare | 2.7M | $955.5M | 0.8% | Held |
| GATX GATX CORP | Industrials | 5.4M | $926.7M | 0.7% | Held |
| ADT ADT INC | Services media | 133.3M | $876.0M | 0.7% | Held |
| TXN TEXAS INSTRUMENTS INC | Technology | 4.4M | $854.8M | 0.7% | Held |
| MTB M & T BANK CORP | Financials | 4.1M | $852.2M | 0.7% | Held |
| MKC MCCORMICK & CO-NON VTG SHRS | Consumer staples | 16.5M | $833.4M | 0.7% | Held |
| DCI DONALDSON CO INC | Industrials | 9.1M | $775.9M | 0.6% | Held |
| EMR EMERSON ELECTRIC CO | Industrials | 5.8M | $765.0M | 0.6% | Held |
| ADP AUTOMATIC DATA PROCESSING | Technology | 3.7M | $743.1M | 0.6% | Held |
| UNP UNION PACIFIC CORP | Industrials | 3.0M | $732.2M | 0.6% | Held |
| RNR RENAISSANCERE HOLDINGS LTD | Financials | 2.4M | $713.1M | 0.6% | Held |
| T AT&T INC | Communications | 24.1M | $700.0M | 0.6% | Held |
| ANET ARISTA NETWORKS INC | Technology | 5.6M | $689.9M | 0.5% | Held |
| PEP PEPSICO INC | Consumer staples | 4.2M | $646.1M | 0.5% | Held |
| CTVA CORTEVA INC | Consumer staples | 7.6M | $639.1M | 0.5% | Held |
| ATR APTARGROUP INC | Other | 4.7M | $597.9M | 0.5% | Held |
| NTRS NORTHERN TRUST CORP | Financials | 4.1M | $578.5M | 0.5% | Held |
| CL COLGATE-PALMOLIVE CO | Other | 6.7M | $573.6M | 0.5% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 197 | $126.86B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 11, 2026 | 200 | $127.33B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 199 | $119.95B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 12, 2025 | 207 | $113.08B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 210 | $108.90B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 12, 2025 | 209 | $109.79B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 194 | $115.20B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 12, 2024 | 212 | $110.76B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 210 | $111.08B | canonical | SEC ↗ |
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