Factory Mutual Insurance Co.

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 12, 2024), Factory Mutual Insurance Co. reported 169 stock positions worth $8.7 billion. Its top holding was iShares Core U.S. Aggregate (AGG) at 6.9% of the portfolio, followed by Microsoft (MSFT, 5.4%) and SS Technology Select Sector (XLK, 3.9%). Compared with Q4 2023, it opened 9 new positions, sold out of 2, added to 9 and reduced 79. The biggest buy was a new position in iShares Core Intl Stock ETF (IXUS) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −99%).

Most Recent 13F
Q2 2026
Location
WALTHAM, MA
CIK
0000887818
Portfolio Value
$8.7B (Q1 2024)
SEC Filing
0001085146-24-001757 ↗ filed Apr 12, 2024

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $8.7B $8.7B Q1 2024 Q2 2024: $8.8B Q2 2024 Q3 2024: $9.7B Q3 2024 Q4 2024: $9.2B Q4 2024 Q1 2025: $8.6B Q1 2025 Q2 2025: $9.1B Q2 2025 Q3 2025: $10.3B Q3 2025 Q4 2025: $9.9B Q4 2025 Q1 2026: $8.9B Q1 2026 Q2 2026: $10.6B Q2 2026

Holdings 169 stocks · $8.7B
AGG iShares Core U.S. Aggregate 6.89% 6,125,091 $599.9M Add +50.1%
MSFT Microsoft Corp. 5.39% 1,114,398 $468.8M Reduce -2.8%
XLK SS Technology Select Sector 3.85% 1,610,300 $335.4M Add +1.1%
AAPL Apple Inc. 3.78% 1,920,429 $329.3M Reduce -3.4%
IXUS iShares Core Intl Stock ETF 3.65% 4,686,750 $318.0M New
NVDA Nvidia Corp. 3.22% 310,060 $280.2M Reduce -3.9%
GOOG Alphabet Inc. Class C 3.06% 1,749,520 $266.4M Reduce -2.1%
AMZN Amazon.com Inc. 2.98% 1,437,604 $259.3M Reduce -1.8%
IWM iShares Russell 2000 ETF 2.59% 1,070,500 $225.1M Reduce -29.0%
META Meta Platforms Inc. Class A 1.84% 330,590 $160.5M Add +2.2%
XLU St Sr Utl SL SE SPDR ETF-Usd 1.63% 2,156,000 $141.5M Reduce -0.3%
AVGO Broadcom Inc. 1.45% 95,230 $126.2M Reduce -5.9%
UNH Unitedhealth Group Inc. 1.33% 234,500 $116.0M Add +4.3%
JPM JPMorgan Chase & Co. 1.33% 579,125 $116.0M Reduce -2.4%
XLI SS Industrial Select Sector 1.30% 899,000 $113.2M Add +0.3%
BRK.B Berkshire Hathaway Inc. Class B 1.24% 257,600 $108.3M Reduce -1.3%
V Visa Inc. Class A 1.19% 370,651 $103.4M Reduce -2.0%
IEMG iShares Core MSCI Emerging 1.16% 1,950,000 $100.6M New
ACWI iShares MSCI Acwi ETF 1.10% 867,000 $95.5M Reduce -23.7%
LCTD iShares World Ex U.S. Carbon 1.08% 2,053,970 $93.8M No change
ETN Eaton Corp. PLC 1.03% 286,119 $89.5M Reduce -1.5%
IWR iShares Russell Mid-Cap ETF 1.01% 1,048,700 $88.2M Reduce -52.1%
MRK Merck & Co. Inc. 0.97% 639,980 $84.4M No change
XLB SS Materials Select Sector 0.97% 905,300 $84.1M No change
LLY Eli Lilly & Co. 0.93% 104,300 $81.1M Reduce -1.0%
JNJ Johnson & Johnson 0.92% 506,460 $80.1M Reduce -2.4%
XLY SS Consumer Disc Select Sect 0.90% 425,063 $78.2M Reduce -25.2%
TMO Thermo Fisher Scientific Inc. 0.86% 128,235 $74.5M Reduce -12.3%
TMUS T-Mobile US Inc. 0.78% 415,007 $67.7M Reduce -1.9%
PG The Procter & Gamble Co. 0.77% 410,637 $66.6M Reduce -3.3%
EEM iShares MSCI Emerging Market 0.73% 1,546,400 $63.5M No change
CVX Chevron Corp. 0.73% 402,000 $63.4M Reduce -3.3%
MS Morgan Stanley 0.72% 670,050 $63.1M No change
ACWX iShares MSCI Acwi Ex US ETF 0.71% 1,160,700 $62.0M Reduce -31.9%
LCTU iShares U.S. Carbon Transiti 0.69% 1,053,908 $60.5M Reduce -50.4%
KO The Coca-Cola Co. 0.69% 986,400 $60.3M Reduce -3.3%
ASML ASML Holding NV-NY Reg SHS 0.69% 61,767 $59.9M New
MDLZ Mondelez International Inc. Class A 0.68% 843,400 $59.0M Reduce -1.6%
NOW ServiceNow Inc. 0.64% 72,700 $55.4M Reduce -2.4%
HON Honeywell International Inc. 0.62% 264,100 $54.2M Reduce -2.6%
WMT Walmart Inc. 0.62% 897,476 $54.0M Reduce -17.4%
VGK Vanguard Ftse Europe ETF 0.61% 789,005 $53.1M No change
GLD SPDR Gold Shares 0.60% 252,100 $51.9M No change
XOM Exxon Mobil Corp. 0.59% 442,220 $51.4M Reduce -3.1%
VZ Verizon Communications Inc. 0.57% 1,179,666 $49.5M Reduce -1.8%
PM Philip Morris International 0.56% 536,306 $49.1M Reduce -2.3%
CMCSA Comcast Corp. Class A 0.53% 1,070,000 $46.4M Reduce -2.3%
ALGN Align Technology Inc. 0.53% 140,393 $46.0M Reduce -2.0%
XLF SS Financial Select Sector 0.52% 1,075,573 $45.3M No change
UNP Union Pacific Corp. 0.51% 180,200 $44.3M Reduce -2.4%
EW Edwards Lifesciences Corp. 0.51% 463,612 $44.3M Reduce -2.2%
NFLX Netflix Inc. 0.51% 72,448 $44.0M Reduce -13.0%
TSLA Tesla Inc. 0.48% 238,600 $41.9M Reduce -15.9%
XLE SS Energy Select Sector 0.48% 438,360 $41.4M No change
KLAC KLA Corp. 0.46% 57,600 $40.2M Reduce -25.7%
MCD McDonald's Corp. 0.46% 140,700 $39.7M Reduce -3.3%
ABBV Abbvie Inc. 0.45% 217,300 $39.6M No change
HES Hess Corp. 0.44% 252,800 $38.6M Reduce -2.2%
DHR Danaher Corp. 0.43% 150,700 $37.6M Reduce -1.6%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.43% 368,900 $37.4M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.43% 304,106 $37.2M Reduce -2.8%
LIN Linde PLC 0.42% 78,800 $36.6M Reduce -3.3%
LOW Lowe's Cos Inc. 0.42% 142,900 $36.4M Reduce -2.6%
HD Home Depot Inc. 0.41% 93,400 $35.8M Reduce -3.0%
WFC Wells Fargo & Co. 0.41% 616,464 $35.7M Reduce -30.9%
QQQ Invesco QQQ Trust Series 1 0.41% 80,154 $35.6M No change
FISV Fiserv Inc. 0.40% 215,400 $34.4M Reduce -26.2%
ADBE Adobe Inc. 0.39% 67,550 $34.1M Reduce -1.6%
AMT American Tower Corp. 0.38% 166,100 $32.8M Reduce -3.3%
NOC Northrop Grumman Corp. 0.37% 67,000 $32.1M Reduce -2.8%
KIE SS SPDR S&P Insurance ETF 0.37% 615,100 $32.0M No change
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC 0.37% 422,937 $32.0M Reduce -16.2%
CB Chubb Ltd. 0.37% 123,400 $32.0M New
GE General Electric 0.37% 181,067 $31.8M Reduce -17.0%
CTVA Corteva Inc. 0.35% 532,558 $30.7M No change
H Hyatt Hotels Corp. Class A 0.35% 190,548 $30.4M No change
CRM Salesforce Inc. 0.35% 100,800 $30.4M Reduce -3.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.34% 791,080 $30.0M No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.34% 539,147 $29.6M No change
SBUX Starbucks Corp. 0.34% 323,100 $29.5M Add +9.0%
EWY iShares MSCI South Korea ETF 0.34% 437,000 $29.3M No change
AMD Advanced Micro Devices 0.34% 161,668 $29.2M Reduce -32.4%
PXD Pioneer Natural Resources Co. 0.33% 110,500 $29.0M No change
MDT Medtronic PLC 0.33% 329,540 $28.7M Reduce -3.0%
XLRE SS Real Estate Select Sector 0.30% 659,000 $26.1M No change
NKE Nike Inc. Class B 0.30% 273,600 $25.7M Add +6.7%
XLP SS Consumer Staples Sel Sect 0.30% 336,700 $25.7M No change
PEP Pepsico Inc. 0.29% 146,200 $25.6M Reduce -3.0%
AXP American Express Co. 0.29% 112,100 $25.5M Reduce -3.3%
USFD US Foods Holding Corp. 0.29% 472,200 $25.5M No change
BKLN Invesco Senior Loan ETF 0.29% 1,200,000 $25.4M No change
SPG Simon Property Group Inc. 0.29% 160,592 $25.1M Reduce -18.3%
DE Deere & Co. 0.29% 60,900 $25.0M Reduce -3.3%
VPL Vanguard Ftse Pacific ETF 0.28% 325,000 $24.7M No change
ECL Ecolab Inc. 0.28% 104,900 $24.2M Reduce -3.4%
CRBG Corebridge Financial Inc. 0.28% 835,500 $24.0M Reduce -18.7%
LEN Lennar Corp. Class A 0.28% 139,500 $24.0M No change
DXCM Dexcom Inc. 0.27% 171,230 $23.7M No change
BKNG Booking Holdings Inc. 0.27% 6,530 $23.7M No change
CAT Caterpillar Inc. 0.27% 64,100 $23.5M Reduce -45.1%

Show all 169 holdings

Portfolio Sells Q4 2023 → Q1 2024
SPY SS SPDR S&P 500 ETF Trust-US Reduce -99.3% 0.01% −1.93
IWM iShares Russell 2000 ETF Reduce -29.0% 2.59% −1.17
IWR iShares Russell Mid-Cap ETF Reduce -52.1% 1.01% −1.10
AAPL Apple Inc. Reduce -3.4% 3.78% −0.97
LCTU iShares U.S. Carbon Transiti Reduce -50.4% 0.69% −0.69
TSLA Tesla Inc. Reduce -15.9% 0.48% −0.39
ACWX iShares MSCI Acwi Ex US ETF Reduce -31.9% 0.71% −0.37
XLY SS Consumer Disc Select Sect Reduce -25.2% 0.90% −0.36
ACWI iShares MSCI Acwi ETF Reduce -23.7% 1.10% −0.34
DD Dupont DE Nemours Inc. Reduce -43.1% 0.23% −0.21
EXAS Exact Sciences Corp. Reduce -46.9% 0.15% −0.17
TXN Texas Instruments Inc. Reduce -38.4% 0.24% −0.17
INTC Intel Corp. Reduce -41.3% 0.16% −0.17
BA The Boeing Co. Reduce -28.8% 0.16% −0.17
CAT Caterpillar Inc. Reduce -45.1% 0.27% −0.16
WFC Wells Fargo & Co. Reduce -30.9% 0.41% −0.13
ADBE Adobe Inc. Reduce -1.6% 0.39% −0.12
TMO Thermo Fisher Scientific Inc. Reduce -12.3% 0.86% −0.11
AMD Advanced Micro Devices Reduce -32.4% 0.34% −0.10
RTX RTX Corp. Reduce -33.8% 0.25% −0.10
KRE SS SPDR S&P Regional Bank Reduce -43.6% 0.10% −0.10
KLAC KLA Corp. Reduce -25.7% 0.46% −0.10
BSX Boston Scientific Corp. Reduce -40.4% 0.18% −0.10
KVUE Kenvue Inc. Sold out 0.00% −0.09
MDLZ Mondelez International Inc. Class A Reduce -1.6% 0.68% −0.09
JNJ Johnson & Johnson Reduce -2.4% 0.92% −0.09
WMT Walmart Inc. Reduce -17.4% 0.62% −0.09
FISV Fiserv Inc. Reduce -26.2% 0.40% −0.09
WBD Warner Bros Discovery Inc. Reduce -3.3% 0.18% −0.08
HON Honeywell International Inc. Reduce -2.6% 0.62% −0.08
AMT American Tower Corp. Reduce -3.3% 0.38% −0.08
MCD McDonald's Corp. Reduce -3.3% 0.46% −0.08
PM Philip Morris International Reduce -2.3% 0.56% −0.08
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -0.3% 1.63% −0.07
GOOG Alphabet Inc. Class C Reduce -2.1% 3.06% −0.07
TMUS T-Mobile US Inc. Reduce -1.9% 0.78% −0.06
CMCSA Comcast Corp. Class A Reduce -2.3% 0.53% −0.06
SPG Simon Property Group Inc. Reduce -18.3% 0.29% −0.06
UNP Union Pacific Corp. Reduce -2.4% 0.51% −0.05
KO The Coca-Cola Co. Reduce -3.3% 0.69% −0.05
BJ Bj's Wholesale Club Holdings Reduce -16.2% 0.37% −0.05
ISRG Intuitive Surgical Inc. Reduce -29.2% 0.15% −0.04
CVX Chevron Corp. Reduce -3.3% 0.73% −0.04
CTSH Cognizant Tech Solutions-A Sold out 0.00% −0.04
AMGN Amgen Inc. Reduce -3.4% 0.27% −0.04
SPGI S&P Global Inc. Reduce -3.4% 0.22% −0.04
V Visa Inc. Class A Reduce -2.0% 1.19% −0.04
NOC Northrop Grumman Corp. Reduce -2.8% 0.37% −0.03
DE Deere & Co. Reduce -3.3% 0.29% −0.03
PEP Pepsico Inc. Reduce -3.0% 0.29% −0.02

Portfolio Buys Q4 2023 → Q1 2024
IXUS iShares Core Intl Stock ETF New 3.65% +3.65
AGG iShares Core U.S. Aggregate Add +50.1% 6.89% +1.86
IEMG iShares Core MSCI Emerging New 1.16% +1.16
ASML ASML Holding NV-NY Reg SHS New 0.69% +0.69
META Meta Platforms Inc. Class A Add +2.2% 1.84% +0.42
CB Chubb Ltd. New 0.37% +0.37
LHX L3HARRIS Technologies Inc. New 0.18% +0.18
ACN Accenture PLC Class A New 0.16% +0.16
ZBH Zimmer Biomet Holdings Inc. New 0.12% +0.12
ORLY O'reilly Automotive Inc. New 0.06% +0.06
XLK SS Technology Select Sector Add +1.1% 3.85% +0.05
IBKR Interactive Brokers Gro Class A New 0.04% +0.04
XLI SS Industrial Select Sector Add +0.3% 1.30% +0.03
VLTO Veralto Corp. Add +27.4% 0.15% +0.03
DDOG Datadog Inc. Class A Add +4.4% 0.10% −0.00
SBUX Starbucks Corp. Add +9.0% 0.34% −0.01
NKE Nike Inc. Class B Add +6.7% 0.30% −0.05
UNH Unitedhealth Group Inc. Add +4.3% 1.33% −0.14

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 205$10.6BNVDA, GOOG, AAPL, DFCF, JCPB
Q1 2026 196$8.9BNVDA, AAPL, GOOG, MSFT, AMZN
Q4 2025 196$9.9BNVDA, MSFT, AAPL, GOOG, AGG
Q3 2025 195$10.3BNVDA, MSFT, IXUS, AAPL, GOOG
Q2 2025 162$9.1BIXUS, MSFT, NVDA, AAPL, AMZN
Q1 2025 167$8.6BIXUS, AGG, AAPL, MSFT, NVDA
Q4 2024 172$9.2BIXUS, AGG, AAPL, MSFT, NVDA
Q3 2024 173$9.7BAGG, IXUS, MSFT, AAPL, NVDA
Q2 2024 170$8.8BAGG, MSFT, IXUS, AAPL, NVDA
Q1 2024 169$8.7BAGG, MSFT, XLK, AAPL, IXUS