Factory Mutual Insurance Co.

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 23, 2024), Factory Mutual Insurance Co. reported 170 stock positions worth $8.8 billion. Its top holding was iShares Core U.S. Aggregate (AGG) at 6.7% of the portfolio, followed by Microsoft (MSFT, 5.6%) and iShares Core Intl Stock ETF (IXUS, 5.1%). Compared with Q1 2024, it opened 7 new positions, sold out of 7, added to 28 and reduced 54. The biggest buy was iShares Core Intl Stock ETF (IXUS, shares +40%) and the biggest sale an exit from iShares Russell 2000 ETF (IWM).

Most Recent 13F
Q2 2026
Location
WALTHAM, MA
CIK
0000887818
Portfolio Value
$8.8B (Q2 2024)
SEC Filing
0001085146-24-003166 ↗ filed Jul 23, 2024

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $8.7B Q1 2024 Q2 2024: $8.8B $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 170 stocks · $8.8B
AGG iShares Core U.S. Aggregate 6.66% 6,022,876 $584.6M Reduce -1.7%
MSFT Microsoft Corp. 5.63% 1,105,498 $494.1M Reduce -0.8%
IXUS iShares Core Intl Stock ETF 5.06% 6,578,900 $444.5M Add +40.4%
AAPL Apple Inc. 4.65% 1,938,629 $408.3M Add +0.9%
NVDA Nvidia Corp. 4.25% 3,021,000 $373.2M Reduce -2.6%
GOOG Alphabet Inc. Class C 3.62% 1,732,220 $317.7M Reduce -1.0%
XLK SS Technology Select Sector 3.55% 1,378,000 $311.7M Reduce -14.4%
AMZN Amazon.com Inc. 3.14% 1,425,404 $275.5M Reduce -0.8%
META Meta Platforms Inc. Class A 1.96% 340,990 $171.9M Add +3.1%
AVGO Broadcom Inc. 1.75% 95,530 $153.4M Add +0.3%
XLU St Sr Utl SL SE SPDR ETF-Usd 1.67% 2,151,200 $146.6M Reduce -0.2%
UNH Unitedhealth Group Inc. 1.36% 234,500 $119.4M No change
JPM JPMorgan Chase & Co. 1.32% 572,425 $115.8M Reduce -1.2%
XLI SS Industrial Select Sector 1.21% 869,000 $105.9M Reduce -3.3%
IEMG iShares Core MSCI Emerging 1.19% 1,950,000 $104.4M No change
BRK.B Berkshire Hathaway Inc. Class B 1.19% 256,100 $104.2M Reduce -0.6%
V Visa Inc. Class A 1.13% 377,051 $99.0M Add +1.7%
LLY Eli Lilly & Co. 1.07% 103,800 $94.0M Reduce -0.5%
SPY SS SPDR S&P 500 ETF Trust-US 1.07% 171,856 $93.5M Add +7871.1%
LCTD iShares World Ex U.S. Carbon 1.05% 2,053,970 $92.0M No change
XLB SS Materials Select Sector 0.91% 902,300 $79.7M Reduce -0.3%
XOM Exxon Mobil Corp. 0.91% 691,354 $79.6M Add +56.3%
MRK Merck & Co. Inc. 0.84% 598,980 $74.2M Reduce -6.4%
ETN Eaton Corp. PLC 0.84% 235,419 $73.8M Reduce -17.7%
JNJ Johnson & Johnson 0.83% 500,560 $73.2M Reduce -1.2%
TMO Thermo Fisher Scientific Inc. 0.80% 127,035 $70.3M Reduce -0.9%
MS Morgan Stanley 0.79% 715,250 $69.5M Add +6.8%
PG The Procter & Gamble Co. 0.76% 404,137 $66.7M Reduce -1.6%
EEM iShares MSCI Emerging Market 0.75% 1,546,400 $65.9M No change
LCTU iShares U.S. Carbon Transiti 0.71% 1,053,908 $62.6M No change
NOW ServiceNow Inc. 0.71% 78,900 $62.1M Add +8.5%
KO The Coca-Cola Co. 0.70% 970,800 $61.8M Reduce -1.6%
ACWX iShares MSCI Acwi Ex US ETF 0.70% 1,160,700 $61.7M No change
WMT Walmart Inc. 0.69% 890,576 $60.3M Reduce -0.8%
IWR iShares Russell Mid-Cap ETF 0.65% 698,700 $56.7M Reduce -33.4%
TMUS T-Mobile US Inc. 0.64% 320,607 $56.5M Reduce -22.8%
HON Honeywell International Inc. 0.63% 260,800 $55.7M Reduce -1.3%
ASML ASML Holding NV-NY Reg SHS 0.63% 53,667 $54.9M Reduce -13.1%
MDLZ Mondelez International Inc. Class A 0.62% 837,000 $54.8M Reduce -0.8%
GLD SPDR Gold Shares 0.62% 252,100 $54.2M No change
PM Philip Morris International 0.61% 530,406 $53.7M Reduce -1.1%
VGK Vanguard Ftse Europe ETF 0.60% 789,005 $52.7M No change
XLY SS Consumer Disc Select Sect 0.59% 284,000 $51.8M Reduce -33.2%
KLAC KLA Corp. 0.58% 61,800 $51.0M Add +7.3%
NFLX Netflix Inc. 0.56% 72,448 $48.9M No change
VZ Verizon Communications Inc. 0.55% 1,169,566 $48.2M Reduce -0.9%
ABBV Abbvie Inc. 0.54% 276,300 $47.4M Add +27.1%
TSLA Tesla Inc. 0.53% 234,900 $46.5M Reduce -1.6%
UNP Union Pacific Corp. 0.49% 190,250 $43.0M Add +5.6%
EW Edwards Lifesciences Corp. 0.48% 458,612 $42.4M Reduce -1.1%
CMCSA Comcast Corp. Class A 0.47% 1,058,200 $41.4M Reduce -1.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.46% 368,900 $40.6M No change
XLE SS Energy Select Sector 0.46% 438,360 $40.0M No change
HES Hess Corp. 0.45% 265,300 $39.1M Add +4.9%
QQQ Invesco QQQ Trust Series 1 0.44% 80,154 $38.4M No change
ADBE Adobe Inc. 0.43% 67,550 $37.5M No change
DHR Danaher Corp. 0.42% 148,300 $37.1M Reduce -1.6%
WFC Wells Fargo & Co. 0.41% 611,064 $36.3M Reduce -0.9%
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC 0.40% 403,937 $35.5M Reduce -4.5%
MCD McDonald's Corp. 0.40% 138,500 $35.3M Reduce -1.6%
DFAE Dimensional Emerging Core Eq 0.40% 1,357,100 $35.1M New
CVX Chevron Corp. 0.40% 223,150 $34.9M Reduce -44.5%
LIN Linde PLC 0.39% 77,600 $34.1M Reduce -1.5%
ALGN Align Technology Inc. 0.39% 140,393 $33.9M No change
CTVA Corteva Inc. 0.37% 609,558 $32.9M Add +14.5%
HD Home Depot Inc. 0.37% 93,400 $32.2M No change
AMT American Tower Corp. 0.36% 163,400 $31.8M Reduce -1.6%
FISV Fiserv Inc. 0.36% 212,000 $31.6M Reduce -1.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.36% 791,080 $31.5M No change
CB Chubb Ltd. 0.35% 121,800 $31.1M Reduce -1.3%
ACWI iShares MSCI Acwi ETF 0.35% 275,000 $30.9M Reduce -68.3%
KIE SS SPDR S&P Insurance ETF 0.35% 615,100 $30.7M No change
LOW Lowe's Cos Inc. 0.35% 138,200 $30.5M Reduce -3.3%
AMGN Amgen Inc. 0.35% 97,400 $30.4M Add +18.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.34% 299,906 $29.8M Reduce -1.4%
MDT Medtronic PLC 0.33% 368,340 $29.0M Add +11.8%
H Hyatt Hotels Corp. Class A 0.33% 190,548 $28.9M No change
EWY iShares MSCI South Korea ETF 0.33% 437,000 $28.9M No change
NOC Northrop Grumman Corp. 0.33% 66,100 $28.8M Reduce -1.3%
GE General Electric filed as GE AEROSPACE 0.33% 181,067 $28.8M No change
AME Ametek Inc. 0.33% 171,300 $28.6M Add +80.9%
USFD US Foods Holding Corp. 0.30% 492,300 $26.1M Add +4.3%
VPL Vanguard Ftse Pacific ETF 0.30% 350,000 $26.0M Add +7.7%
BKNG Booking Holdings Inc. 0.29% 6,530 $25.9M No change
XLP SS Consumer Staples Sel Sect 0.29% 336,700 $25.8M No change
AXP American Express Co. 0.29% 110,300 $25.5M Reduce -1.6%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.29% 539,147 $25.4M No change
XLRE SS Real Estate Select Sector 0.29% 659,000 $25.3M No change
BKLN Invesco Senior Loan ETF 0.29% 1,200,000 $25.2M No change
COST Costco Wholesale Corp. 0.29% 29,700 $25.2M Reduce -1.7%
SBUX Starbucks Corp. 0.29% 323,100 $25.2M No change
ECL Ecolab Inc. 0.28% 103,200 $24.6M Reduce -1.6%
VLTO Veralto Corp. 0.28% 255,465 $24.4M Add +78.2%
SPG Simon Property Group Inc. 0.28% 160,592 $24.4M No change
CRBG Corebridge Financial Inc. 0.27% 822,100 $23.9M Reduce -1.6%
PEP Pepsico Inc. 0.27% 144,100 $23.8M Reduce -1.4%
OTIS Otis Worldwide Corp. 0.27% 244,000 $23.5M Add +12.3%
TXN Texas Instruments Inc. 0.27% 120,500 $23.4M No change
EWT iShares MSCI Taiwan ETF 0.26% 427,152 $23.1M No change
TSM Taiwan Semiconductor-SP ADR 0.26% 132,018 $22.9M Add +23.4%
DE Deere & Co. 0.26% 59,900 $22.4M Reduce -1.6%
RTX RTX Corp. 0.25% 221,815 $22.3M No change
PNC PNC Financial Services Group 0.24% 137,800 $21.4M No change
CAT Caterpillar Inc. 0.24% 64,100 $21.4M No change
ABT Abbott Laboratories 0.24% 201,600 $20.9M Reduce -1.6%
LEN Lennar Corp. Class A 0.24% 139,500 $20.9M No change
DD Dupont DE Nemours Inc. 0.24% 257,890 $20.8M No change
NKE Nike Inc. Class B 0.23% 273,600 $20.6M No change
CNQ Canadian Natural Resources 0.23% 577,000 $20.5M New
CRM Salesforce Inc. 0.23% 79,000 $20.3M Reduce -21.6%
SPGI S&P Global Inc. 0.23% 44,900 $20.0M Reduce -1.5%
DXCM Dexcom Inc. 0.22% 171,230 $19.4M No change
CCI Crown Castle Inc. 0.22% 196,960 $19.2M No change
LVS Las Vegas Sands Corp. 0.21% 421,100 $18.6M No change
PGR Progressive Corp. 0.21% 88,600 $18.4M Reduce -1.7%
MA Mastercard Inc. Class A 0.20% 40,800 $18.0M No change
UBER Uber Technologies Inc. 0.20% 247,200 $18.0M New
KKR KKR & Co. Inc. 0.20% 170,000 $17.9M No change
ORCL Oracle Corp. 0.20% 126,690 $17.9M No change
APH Amphenol Corp. Class A 0.20% 263,000 $17.7M Add +27.7%
BSX Boston Scientific Corp. 0.20% 227,400 $17.5M No change
WH Wyndham Hotels & Resorts Inc. 0.20% 232,200 $17.2M No change
UPS United Parcel Service Class B 0.19% 123,700 $16.9M No change
MRSH Marsh & McLennan Cos 0.19% 79,400 $16.7M No change
FDX FedEx Corp. 0.19% 55,600 $16.7M No change
LHX L3HARRIS Technologies Inc. 0.19% 73,100 $16.4M No change
BLK BlackRock Finance Inc. 0.19% 20,700 $16.3M No change
PFE Pfizer Inc. 0.17% 545,400 $15.3M No change
CI The Cigna Group 0.17% 45,200 $14.9M No change
ILMN Illumina Inc. 0.17% 141,000 $14.7M No change
QCOM Qualcomm Inc. 0.17% 73,300 $14.6M No change
ISRG Intuitive Surgical Inc. 0.16% 32,300 $14.4M No change
APO Apollo Global Management Inc. 0.16% 120,000 $14.2M Add +46.3%
VRTX Vertex Pharmaceuticals Inc. 0.16% 29,900 $14.0M No change
WBD Warner Bros Discovery Inc. 0.16% 1,831,406 $13.6M No change
FXI iShares China Large-Cap ETF 0.15% 498,000 $12.9M No change
BA The Boeing Co. 0.15% 71,100 $12.9M No change
ACN Accenture PLC Class A 0.14% 40,600 $12.3M No change
CVS CVS Health Corp. 0.14% 201,243 $11.9M No change
BN Brookfield Corp. 0.13% 278,000 $11.5M No change
BIIB Biogen Inc. 0.13% 49,200 $11.4M No change
EWA iShares MSCI Australia ETF 0.13% 465,100 $11.4M No change
EXAS Exact Sciences Corp. 0.12% 253,500 $10.7M Add +37.4%
AON Aon PLC Class A 0.11% 34,000 $10.0M No change
IBB iShares Biotechnology ETF 0.11% 71,000 $9.7M No change
DDOG Datadog Inc. Class A 0.11% 74,840 $9.7M Add +4.8%
INTC Intel Corp. 0.11% 308,400 $9.6M No change
AIG American International Group 0.11% 126,800 $9.4M No change
ZBH Zimmer Biomet Holdings Inc. 0.10% 82,300 $8.9M No change
CDNS Cadence Design SYS Inc. 0.10% 28,700 $8.8M Add +85.2%
NXPI NXP Semiconductors NV 0.10% 31,000 $8.3M New
ORLY O'reilly Automotive Inc. 0.09% 7,500 $7.9M Add +50.0%
GEV GE Vernova Inc. 0.09% 45,265 $7.8M No change
WELL Welltower Inc. 0.07% 60,700 $6.3M No change
PLTR Palantir Technologies Inc. Class A 0.07% 231,836 $5.9M No change
MPWR Monolithic Power Systems Inc. 0.06% 6,856 $5.6M No change
DAL Delta Air Lines Inc. 0.06% 118,000 $5.6M No change
LW Lamb Weston Holdings Inc. 0.06% 66,500 $5.6M New
AMD Advanced Micro Devices 0.06% 33,568 $5.4M Reduce -79.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.06% 28,800 $5.0M No change
MRNA Moderna Inc. 0.06% 41,000 $4.9M No change
MET Metlife Inc. 0.06% 68,800 $4.8M No change
ANET Arista Networks Inc. 0.05% 12,650 $4.4M New
MRVL Marvell Technology Inc. 0.05% 61,166 $4.3M No change
MU Micron Technology Inc. 0.04% 29,250 $3.8M New
IBKR Interactive Brokers Gro Class A 0.04% 30,000 $3.7M No change
VWO Vanguard Ftse Emerging Marke 0.01% 28,100 $1.2M No change
GOOGL Alphabet Inc. Class A 0.01% 5,000 $911K No change
VEU Vanguard Ftse All-World Ex-U 0.01% 12,000 $704K No change
GILD Gilead Sciences Inc. 0.00% 6,000 $412K No change

Portfolio Sells Q1 2024 → Q2 2024
IWM iShares Russell 2000 ETF Sold out 0.00% −2.59
ACWI iShares MSCI Acwi ETF Reduce -68.3% 0.35% −0.74
XLF SS Financial Select Sector Sold out 0.00% −0.52
IWR iShares Russell Mid-Cap ETF Reduce -33.4% 0.65% −0.37
PXD Pioneer Natural Resources Co. Sold out 0.00% −0.33
CVX Chevron Corp. Reduce -44.5% 0.40% −0.33
XLY SS Consumer Disc Select Sect Reduce -33.2% 0.59% −0.31
XLK SS Technology Select Sector Reduce -14.4% 3.55% −0.30
AMD Advanced Micro Devices Reduce -79.2% 0.06% −0.27
AGG iShares Core U.S. Aggregate Reduce -1.7% 6.66% −0.23
INDA iShares MSCI India ETF Sold out 0.00% −0.20
ETN Eaton Corp. PLC Reduce -17.7% 0.84% −0.19
TMUS T-Mobile US Inc. Reduce -22.8% 0.64% −0.13
MRK Merck & Co. Inc. Reduce -6.4% 0.84% −0.13
CRM Salesforce Inc. Reduce -21.6% 0.23% −0.12
KRE SS SPDR S&P Regional Bank Sold out 0.00% −0.10
STZ Constellation Brands Inc. Class A Sold out 0.00% −0.10
XLI SS Industrial Select Sector Reduce -3.3% 1.21% −0.09
DIS The Walt Disney Co. Reduce -1.4% 0.34% −0.09
JNJ Johnson & Johnson Reduce -1.2% 0.83% −0.09
CSCO Cisco Systems Inc. Sold out 0.00% −0.08
LOW Lowe's Cos Inc. Reduce -3.3% 0.35% −0.07
ASML ASML Holding NV-NY Reg SHS Reduce -13.1% 0.63% −0.06
CMCSA Comcast Corp. Class A Reduce -1.1% 0.47% −0.06
XLB SS Materials Select Sector Reduce -0.3% 0.91% −0.06
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.6% 1.19% −0.06
TMO Thermo Fisher Scientific Inc. Reduce -0.9% 0.80% −0.06
MDLZ Mondelez International Inc. Class A Reduce -0.8% 0.62% −0.05
MCD McDonald's Corp. Reduce -1.6% 0.40% −0.05
NOC Northrop Grumman Corp. Reduce -1.3% 0.33% −0.04
FISV Fiserv Inc. Reduce -1.6% 0.36% −0.04
DE Deere & Co. Reduce -1.6% 0.26% −0.03
LIN Linde PLC Reduce -1.5% 0.39% −0.03
ABT Abbott Laboratories Reduce -1.6% 0.24% −0.03
EW Edwards Lifesciences Corp. Reduce -1.1% 0.48% −0.03
PEP Pepsico Inc. Reduce -1.4% 0.27% −0.02
VZ Verizon Communications Inc. Reduce -0.9% 0.55% −0.02
AMT American Tower Corp. Reduce -1.6% 0.36% −0.02
JPM JPMorgan Chase & Co. Reduce -1.2% 1.32% −0.01
CB Chubb Ltd. Reduce -1.3% 0.35% −0.01
DHR Danaher Corp. Reduce -1.6% 0.42% −0.01
PG The Procter & Gamble Co. Reduce -1.6% 0.76% −0.01
PGR Progressive Corp. Reduce -1.7% 0.21% −0.00
CRBG Corebridge Financial Inc. Reduce -1.6% 0.27% −0.00
AXP American Express Co. Reduce -1.6% 0.29% −0.00
ECL Ecolab Inc. Reduce -1.6% 0.28% +0.00
WFC Wells Fargo & Co. Reduce -0.9% 0.41% +0.00
SPGI S&P Global Inc. Reduce -1.5% 0.23% +0.01
KO The Coca-Cola Co. Reduce -1.6% 0.70% +0.01
HON Honeywell International Inc. Reduce -1.3% 0.63% +0.01

Portfolio Buys Q1 2024 → Q2 2024
IXUS iShares Core Intl Stock ETF Add +40.4% 5.06% +1.41
SPY SS SPDR S&P 500 ETF Trust-US Add +7871.1% 1.07% +1.05
AAPL Apple Inc. Add +0.9% 4.65% +0.87
DFAE Dimensional Emerging Core Eq New 0.40% +0.40
XOM Exxon Mobil Corp. Add +56.3% 0.91% +0.32
AVGO Broadcom Inc. Add +0.3% 1.75% +0.30
CNQ Canadian Natural Resources New 0.23% +0.23
UBER Uber Technologies Inc. New 0.20% +0.20
VLTO Veralto Corp. Add +78.2% 0.28% +0.13
AME Ametek Inc. Add +80.9% 0.33% +0.13
KLAC KLA Corp. Add +7.3% 0.58% +0.12
META Meta Platforms Inc. Class A Add +3.1% 1.96% +0.11
NXPI NXP Semiconductors NV New 0.10% +0.10
TSM Taiwan Semiconductor-SP ADR Add +23.4% 0.26% +0.09
ABBV Abbvie Inc. Add +27.1% 0.54% +0.09
AMGN Amgen Inc. Add +18.1% 0.35% +0.08
NOW ServiceNow Inc. Add +8.5% 0.71% +0.07
MS Morgan Stanley Add +6.8% 0.79% +0.07
APH Amphenol Corp. Class A Add +27.7% 0.20% +0.07
LW Lamb Weston Holdings Inc. New 0.06% +0.06
APO Apollo Global Management Inc. Add +46.3% 0.16% +0.06
ANET Arista Networks Inc. New 0.05% +0.05
CDNS Cadence Design SYS Inc. Add +85.2% 0.10% +0.05
MU Micron Technology Inc. New 0.04% +0.04
ORLY O'reilly Automotive Inc. Add +50.0% 0.09% +0.03
CTVA Corteva Inc. Add +14.5% 0.37% +0.02
OTIS Otis Worldwide Corp. Add +12.3% 0.27% +0.02
VPL Vanguard Ftse Pacific ETF Add +7.7% 0.30% +0.01
DDOG Datadog Inc. Class A Add +4.8% 0.11% +0.01
USFD US Foods Holding Corp. Add +4.3% 0.30% +0.00
HES Hess Corp. Add +4.9% 0.45% +0.00
MDT Medtronic PLC Add +11.8% 0.33% +0.00
UNP Union Pacific Corp. Add +5.6% 0.49% −0.02
EXAS Exact Sciences Corp. Add +37.4% 0.12% −0.02
V Visa Inc. Class A Add +1.7% 1.13% −0.06

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