FMI
Factory Mutual Insurance Portfolio holdings
AUM
$10.6B
Turnover
9.05%
1-Year Est. Return
34.1%
This Fund
S&P 500
This Quarter
Est. Return
+13.53%
1 Year Est. Return
+34.1%
3 Year Est. Return
+103.46%
5 Year Est. Return
+134.35%
10 Year Est. Return
+476.92%
AUM
$9.15B
AUM Growth
+$529M
(+6.1%)
Cap. Flow
-$341M
Cap. Flow
% of AUM
-3.72%
Top 10 Holdings %
Top 10 Hldgs %
38.15%
Holding
168
New
1
Increased
27
Reduced
26
Closed
6
Avg Time Held
5.9
years
Top 10 Avg Time Held
4.7
years
Top 20 Avg Time Held
3.5
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street Technology Select Sector SPDR ETF
XLK
|
+$110M |
| 2 |
JPMorgan Core Plus Bond ETF
JCPB
|
+$49.5M |
| 3 |
Vanguard S&P 500 ETF
VOO
|
+$46.2M |
| 4 |
ServiceNow
NOW
|
+$13.8M |
| 5 |
NVIDIA
NVDA
|
+$12.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Core US Aggregate Bond ETF
AGG
|
+$298M |
| 2 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$73.7M |
| 3 |
iShares MSCI Emerging Markets ETF
EEM
|
+$40.4M |
| 4 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$24M |
| 5 |
iShares Core MSCI Total International Stock ETF
IXUS
|
+$19.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 27.86% |
| 2 | Technology | 25.36% |
| 3 | Financials | 10.11% |
| 4 | Communication Services | 8.34% |
| 5 | Consumer Discretionary | 7.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
iShares Core MSCI Total International Stock ETF
IXUS
$57.8B
| $642M | 7.01% |
8,299,460
-267,300
| -3% | -$19.5M |
2024 Q1
5 quarters
|
|
2
Microsoft
MSFT
$3.97T
| $531M | 5.8% |
1,067,268
-22,500
| -2% | -$9.77M |
2013 Q2
48 quarters
|
|
|
3
NVIDIA
NVDA
$5.33T
| $477M | 5.21% |
3,018,848
+99,000
| +3% | +$12.5M |
2017 Q3
31 quarters
|
|
4
Apple
AAPL
$5T
| $374M | 4.09% |
1,825,221
-25,800
| -1% | -$5.21M |
2013 Q2
48 quarters
|
|
5
Amazon
AMZN
$2.73T
| $294M | 3.22% |
1,342,024
| – | – |
2013 Q2
48 quarters
|
|
6
Alphabet (Google) Class C
GOOG
$4.2T
| $294M | 3.21% |
1,658,121
| – | – |
2016 Q1
37 quarters
|
|
7
Meta Platforms (Facebook)
META
$1.87T
| $240M | 2.62% |
325,341
| – | – |
2014 Q1
45 quarters
|
|
8
Broadcom
AVGO
$1.65T
| $230M | 2.51% |
833,945
-43,500
| -5% | -$9.45M |
2015 Q3
39 quarters
|
|
|
9
iShares Core US Aggregate Bond ETF
AGG
$137B
| $224M | 2.44% |
2,253,600
-3,039,057
| -57% | -$298M |
2023 Q1
9 quarters
|
|
10
State Street Utilities Select Sector SPDR ETF
XLU
$24.1B
| $184M | 2.01% |
4,514,600
| – | – |
2020 Q4
18 quarters
|
|
11
JPMorgan Chase
JPM
$885B
| $164M | 1.8% |
566,725
| – | – |
2013 Q2
48 quarters
|
|
|
12
JPMorgan Core Plus Bond ETF
JCPB
$15.7B
| $151M | 1.65% |
3,216,300
+1,065,000
| +50% | +$49.5M |
2025 Q1
1 quarter
|
|
13
State Street Industrial Select Sector SPDR ETF
XLI
$30.3B
| $136M | 1.49% |
923,500
| – | – |
2023 Q1
9 quarters
|
|
|
14
State Street Technology Select Sector SPDR ETF
XLK
$126B
| $126M | 1.37% |
+992,400
| New | +$110M |
2025 Q2
0 quarters
|
|
15
Berkshire Hathaway Class B
BRK.B
$1.12T
| $124M | 1.35% |
254,500
| – | – |
2013 Q2
48 quarters
|
|
16
Visa
V
$737B
| $123M | 1.34% |
345,051
| – | – |
2013 Q2
48 quarters
|
|
17
Dimensional Core Fixed Income ETF
DFCF
$11.4B
| $118M | 1.29% |
2,793,770
| – | – |
2024 Q3
3 quarters
|
|
18
Vanguard FTSE Europe ETF
VGK
$29.3B
| $109M | 1.2% |
1,412,500
| – | – |
2025 Q1
1 quarter
|
|
19
iShares Russell Mid-Cap ETF
IWR
$55.7B
| $90M | 0.98% |
978,700
| – | – |
2021 Q3
15 quarters
|
|
20
Dimensional Emerging Core Equity Market ETF
DFAE
$9.75B
| $89.4M | 0.98% |
3,086,900
| – | – |
2024 Q2
4 quarters
|
|
21
Tesla
TSLA
$1.44T
| $85.6M | 0.94% |
269,400
| – | – |
2020 Q4
18 quarters
|
|
22
Dimensional World ex US Core Equity 2 ETF
DFAX
$12.2B
| $84M | 0.92% |
2,860,480
| – | – |
2024 Q3
3 quarters
|
|
|
23
ServiceNow
NOW
$145B
| $81.2M | 0.89% |
395,000
+73,000
| +23% | +$13.8M |
2022 Q4
10 quarters
|
|
|
24
Vanguard S&P 500 ETF
VOO
$1.04T
| $77.4M | 0.85% |
136,200
+88,000
| +183% | +$46.2M |
2025 Q1
1 quarter
|
|
25
SPDR Gold Trust
GLD
$139B
| $76.8M | 0.84% |
252,100
| – | – |
2023 Q1
9 quarters
|
|
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Factory Mutual Insurance's Q2 2025 Portfolio in Review
As of Q2 2025, Factory Mutual Insurance held 168 positions worth $9.15B, up 6.1% from $8.62B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
Factory Mutual Insurance withdrew a net $341M in Q2 2025, closing 6 positions and reducing 26 holdings. Its most notable exit was iShares Core MSCI Emerging Markets ETF, an estimated $73.7M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 28% of assets, down from 31% a quarter earlier, followed by Technology and Financials.
Against the trend, Factory Mutual Insurance opened a new position in State Street Technology Select Sector SPDR ETF worth $126M.
- Factory Mutual Insurance's largest Q2 2025 buy was State Street Technology Select Sector SPDR ETF: 992,400 shares worth $126M.
- Factory Mutual Insurance added most to JPMorgan Core Plus Bond ETF in Q2 2025, an estimated $49.5M increase.
- Factory Mutual Insurance's biggest Q2 2025 reduction was iShares Core US Aggregate Bond ETF, cutting an estimated $298M.
- Factory Mutual Insurance fully exited iShares Core MSCI Emerging Markets ETF in Q2 2025, selling an estimated $73.7M.
- Factory Mutual Insurance's ten largest holdings make up 38% of its $9.15B portfolio in Q2 2025.
- Factory Mutual Insurance opened 1 new position and closed 6 in Q2 2025.
- Factory Mutual Insurance's portfolio value rose 6.1% quarter-over-quarter to $9.15B.
Based on Factory Mutual Insurance's 13F filing for Q2 2025, filed 7 Aug 2025.