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FACTORY MUTUAL INSURANCE CO

404 WYMAN STREET SUITE 390, WALTHAM, MA 02451 • 7818909300

Q3 2025 · Filed 2025-11-10
Market Value
$10.3B
+12.2%
Holdings
195
+27
New Purchases
33
Added To
25
Closed
2
Reduced
29
Top 10 Concentration
38.5%
Turnover
17.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
XLK 3.23% 1.37% +1.86% $332M
AGG 3.67% 2.44% +1.23% $376M
JCPB 2.71% 1.65% +1.05% $278M
DFCF 1.89% 1.29% +0.60% $194M
DFAX 1.47% 0.92% +0.55% $151M
CVX 0.55% 0.02% +0.53% $56M
HYDB 0.49% 0.00% +0.49% $51M
GOOG 3.68% 3.21% +0.47% $378M
AAPL 4.39% 4.09% +0.29% $450M
TSM 0.78% 0.51% +0.27% $81M
TSLA 1.17% 0.94% +0.23% $120M
VOO 1.06% 0.85% +0.22% $109M
PLTR 0.45% 0.28% +0.17% $46M
ASML 0.77% 0.62% +0.15% $79M
NVDA 5.34% 5.21% +0.13% $548M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IXUS 4.77% 7.01% -2.25% $489M
HES 0.00% 0.52% -0.52% $0
MSFT 5.30% 5.80% -0.50% $544M
META 2.13% 2.62% -0.50% $218M
AMZN 2.87% 3.22% -0.35% $295M
SPY 0.00% 0.30% -0.30% $0
IWR 0.71% 0.98% -0.27% $73M
XLU 1.75% 2.01% -0.26% $180M
NFLX 0.40% 0.65% -0.25% $41M
PM 0.60% 0.84% -0.24% $62M
V 1.11% 1.34% -0.23% $114M
XLB 0.58% 0.80% -0.22% $59M
TMUS 0.24% 0.41% -0.18% $24M
ALGN 0.29% 0.46% -0.16% $30M
DXCM 0.33% 0.48% -0.15% $34M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 32.5%
Technology 28.0%
Communication Services 7.9%
Consumer Cyclical 7.6%
Healthcare 7.3%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 62 $5.1B 49.8%
Large Cap 124 $4.8B 47.1%
Mid Cap 7 $234M 2.3%
Small Cap 2 $87M 0.8%

Portfolio Analytics

Avg Market Cap
$331.4B
Median Market Cap
$119.0B
Avg P/E
32.8
Median P/E
24.8
Avg Dividend Yield
0.02%
Avg Beta
0.90
# Stocks
166
# ETFs / Funds
29

Top Holdings (195 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 5.34% 2,938,848 $548M $186.58 $71M -80,000 -2.6%
2 MSFT 5.30% 1,050,968 $544M $517.95 $13M -16,300 -1.5%
3 IXUS 4.77% 5,923,560 $489M $82.58 -$152M -2,375,900 -28.6%
4 AAPL 4.39% 1,767,571 $450M $254.63 $76M -57,650 -3.2%
5 GOOG 3.68% 1,552,321 $378M $243.55 $84M -105,800 -6.4%
6 AGG 3.67% 3,755,423 $376M $100.25 $153M +1,501,823 +66.6%
7 XLK 3.23% 1,177,180 $332M $281.86 $206M +680,980 +137.2%
8 AMZN 2.87% 1,342,024 $295M $219.57 $242K
9 JCPB 2.71% 5,846,314 $278M $47.55 $127M +2,630,014 +81.8%
10 AVGO 2.57% 798,445 $263M $329.91 $34M -35,500 -4.3%
11 META 2.13% 297,391 $218M $734.38 -$22M -27,950 -8.6%
12 DFCF 1.89% 4,538,370 $194M $42.76 $76M +1,744,600 +62.5%
13 XLU 1.75% 2,062,250 $180M $87.21 -$4M -195,050 -8.6%
14 JPM 1.67% 541,725 $171M $315.43 $7M -25,000 -4.4%
15 DFAX 1.47% 4,806,630 $151M $31.38 $67M +1,946,150 +68.0%
16 XLI 1.39% 923,500 $142M $154.23 $6M
17 BRK-B 1.25% 254,500 $128M $502.74 $4M
18 TSLA 1.17% 269,400 $120M $444.72 $34M
19 V 1.11% 334,801 $114M $341.38 -$8M -10,250 -3.0%
20 VGK 1.10% 1,412,500 $113M $79.80 $3M
21 VOO 1.06% 178,137 $109M $612.38 $32M +41,937 +30.8%
22 DFAE 0.95% 3,086,900 $97M $31.53 $8M
23 GLD 0.87% 252,100 $90M $355.47 $13M
24 TSM 0.78% 288,325 $81M $279.29 $34M +81,905 +39.7%
25 JNJ 0.78% 434,060 $80M $185.42 $14M +1,500 +0.3%
26 ASML 0.77% 81,731 $79M $968.09 $23M +11,110 +15.7%
27 XOM 0.75% 680,654 $77M $112.75 $3M -3,000 -0.4%
28 NOW 0.75% 83,200 $77M $920.28 -$5M +4,200 +5.3%
29 CDNS 0.72% 211,171 $74M $351.26 $8M -4,800 -2.2%
30 KLAC 0.72% 68,252 $74M $1,078.60 $12M
31 UNH 0.71% 212,400 $73M $345.30 $7M
32 IWR 0.71% 758,700 $73M $96.55 -$17M -220,000 -22.5%
33 WMT 0.68% 679,576 $70M $103.06 $4M
34 XLY 0.66% 284,000 $68M $239.64 $6M
35 LLY 0.64% 86,500 $66M $763.00 -$1M
36 PM 0.60% 380,806 $62M $162.20 -$15M -40,000 -9.5%
37 PG 0.60% 397,537 $61M $153.65 -$2M
38 WFC 0.58% 706,064 $59M $83.82 $3M
39 XLB 0.58% 658,800 $59M $89.62 -$14M -175,000 -21.0%
40 VZ 0.56% 1,310,366 $58M $43.95 $1M +5,000 +0.4%
41 CVX 0.55% 363,117 $56M $155.29 $54M +347,567 +2235.2%
42 UNP 0.54% 235,150 $56M $236.37 $1M
43 ABBV 0.53% 233,300 $54M $231.54 $11M
44 ORCL 0.52% 191,556 $54M $281.24 $11M -6,400 -3.2%
45 ETN 0.51% 140,119 $52M $374.25 -$1M -10,000 -6.7%
46 MS 0.51% 329,050 $52M $158.96 $6M
47 USHY 0.50% 1,355,000 $51M $37.78 $366K
48 HYDB 0.49% 1,055,715 $51M $47.84 +1,055,715 NEW
49 HD 0.49% 123,400 $50M $405.19 $16M +30,000 +32.1%
50 KKR 0.48% 379,000 $49M $129.95 -$1M
51 APH 0.47% 393,634 $49M $123.75 $10M
52 KO 0.47% 726,400 $48M $66.32 -$3M
53 TMO 0.47% 98,935 $48M $485.02 $9M +2,500 +2.6%
54 WELL 0.46% 266,800 $48M $178.14 $7M +1,500 +0.6%
55 PLTR 0.45% 250,557 $46M $182.42 $21M +65,700 +35.5%
56 GE 0.44% 151,367 $46M $300.82 -$1M -29,700 -16.4%
57 CTVA 0.44% 671,058 $45M $67.63 -$4M +8,000 +1.2%
58 AMT 0.43% 227,700 $44M $192.32 -$7M
59 DHR 0.42% 216,800 $43M $198.26 $156K
60 LIN 0.41% 88,600 $42M $475.00 $516K
61 UL 0.40% 700,409 $42M $59.28 $3M +70,509 +11.2%
62 MCD 0.40% 136,200 $41M $303.89 $2M
63 NFLX 0.40% 34,200 $41M $1,198.92 -$18M -10,148 -22.9%
64 AME 0.37% 201,800 $38M $188.00 $1M
65 RTX 0.36% 221,815 $37M $167.33 $5M
66 TJX 0.36% 255,200 $37M $144.54 $5M -2,000 -0.8%
67 MPWR 0.36% 39,972 $37M $920.64 $8M
68 KIE 0.36% 615,100 $36M $59.32 -$258K
69 AXP 0.35% 108,500 $36M $332.16 $1M
70 BKNG 0.34% 6,530 $35M $5,399.27 -$3M
71 LHX 0.34% 114,900 $35M $305.41 $6M
72 CB 0.33% 120,200 $34M $282.25 -$898K
73 CVS 0.33% 449,243 $34M $75.39 $3M
74 DXCM 0.33% 497,930 $34M $67.29 -$10M
75 IWM 0.32% 137,580 $33M $241.96 -$9M -57,175 -29.4%
76 CMCSA 0.32% 1,046,200 $33M $31.42 -$4M
77 HUBB 0.30% 71,600 $31M $430.31 $2M
78 VPL 0.30% 350,000 $31M $87.84 $2M
79 CAT 0.30% 64,100 $31M $477.15 $6M
80 SPG 0.29% 160,592 $30M $187.67 $4M
81 ALGN 0.29% 240,293 $30M $125.22 -$12M +20,000 +9.1%
82 VLTO 0.29% 280,066 $30M $106.61 $2M
83 IDXX 0.29% 45,800 $29M $638.89 -$4M -15,300 -25.0%
84 INTU 0.28% 42,200 $29M $682.91 -$4M
85 FI 0.28% 219,600 $28M $128.93 $1M +62,600 +39.9%
86 NOC 0.27% 46,300 $28M $609.32 $5M -500 -1.1%
87 BJ 0.27% 301,537 $28M $93.25 -$4M
88 GEV 0.27% 45,265 $28M $614.90 $4M
89 ECL 0.27% 101,400 $28M $273.86 $448K
90 XLRE 0.27% 659,000 $28M $42.13 $468K
91 BAC 0.27% 535,080 $28M $51.59 $2M
92 COST 0.26% 29,200 $27M $925.63 -$2M
93 DE 0.26% 58,900 $27M $457.26 -$3M
94 MDLZ 0.26% 427,500 $27M $62.47 -$10M -112,000 -20.8%
95 APO 0.26% 199,400 $27M $133.27 -$2M
96 ABT 0.26% 198,300 $27M $133.94 -$410K
97 XLP 0.26% 336,700 $26M $78.37 -$875K
98 CRBG 0.25% 815,400 $26M $32.05 -$3M
99 NXPI 0.25% 114,400 $26M $227.73 $1M
100 BN 0.25% 374,000 $26M $68.58 $3M

New Positions

SymbolValue% Port
HYDB $51M 0.49%
PFGC $9M 0.09%
BABA $9M 0.08%
MUFG $6M 0.06%
HSBC $6M 0.05%
SAN $5M 0.05%
HDB $5M 0.05%
SAP $5M 0.05%
GFI $5M 0.05%
TM $5M 0.05%
BHP $5M 0.05%
SONY $5M 0.05%
NVS $5M 0.04%
NGG $4M 0.04%
BTI $3M 0.03%

Sold Out Positions

SymbolValue% Port
SPY —%
HES —%
View SEC EDGAR Filings for FACTORY MUTUAL INSURANCE CO →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms