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Asset Manager ← All Institutions

FACTORY MUTUAL INSURANCE CO

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

Q4 2025 · Filed 2026-01-23
Market Value
$9.8B
-4.2%
Holdings
199
+4
New Purchases
6
Added To
35
Closed
6
Reduced
103
Top 10 Concentration
36.6%
Turnover
6.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
JIRE 1.27% 0.00% +1.27% $125M
GOOG 4.72% 3.68% +1.04% $464M
HYDB 1.02% 0.49% +0.53% $100M
AGG 4.16% 3.67% +0.49% $409M
AAPL 4.78% 4.39% +0.39% $470M
VGK 1.47% 1.10% +0.37% $145M
LLY 0.94% 0.64% +0.30% $92M
ACN 0.54% 0.25% +0.30% $54M
AMD 0.41% 0.12% +0.29% $40M
AMZN 3.13% 2.87% +0.25% $307M
MU 0.44% 0.21% +0.23% $43M
ANET 0.44% 0.22% +0.22% $43M
NVDA 5.55% 5.34% +0.20% $545M
TSM 0.98% 0.78% +0.20% $97M
ISRG 0.26% 0.07% +0.19% $25M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IXUS 1.42% 4.77% -3.35% $139M
XLK 1.50% 3.23% -1.74% $147M
UL 0.00% 0.40% -0.40% $0
VOO 0.72% 1.06% -0.34% $71M
MSFT 4.96% 5.30% -0.34% $488M
CMCSA 0.00% 0.32% -0.32% $0
BJ 0.00% 0.27% -0.27% $0
FI 0.01% 0.28% -0.27% $591K
VZ 0.34% 0.56% -0.22% $34M
CTVA 0.26% 0.44% -0.19% $25M
META 1.96% 2.13% -0.17% $192M
ORCL 0.38% 0.52% -0.15% $37M
EXAS 0.00% 0.14% -0.14% $0
TMUS 0.11% 0.24% -0.13% $11M
ASML 0.66% 0.77% -0.11% $65M

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 61 $5.1B 51.9%
Large Cap 128 $4.4B 44.3%
Mid Cap 8 $238M 2.4%
Small Cap 2 $137M 1.4%

Portfolio Analytics

Avg Market Cap
$322.3B
Median Market Cap
$116.6B
Avg P/E
32.5
Median P/E
24.8
Avg Dividend Yield
0.02%
Avg Beta
0.91
# Stocks
170
# ETFs / Funds
29

Top Holdings (199 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 5.55% 2,922,698 $545M $186.50 -$3M -16,150 -0.6%
2 MSFT 4.96% 1,008,818 $488M $483.62 -$56M -42,150 -4.0%
3 AAPL 4.78% 1,727,321 $470M $271.86 $20M -40,250 -2.3%
4 GOOG 4.72% 1,478,271 $464M $313.80 $86M -74,050 -4.8%
5 AGG 4.16% 4,096,000 $409M $99.88 $33M +340,577 +9.1%
6 AMZN 3.13% 1,331,024 $307M $230.82 $13M -11,000 -0.8%
7 JCPB 2.82% 5,846,314 $277M $47.35 -$1M
8 AVGO 2.55% 724,445 $251M $346.10 -$13M -74,000 -9.3%
9 DFCF 1.97% 4,538,370 $193M $42.56 -$908K
10 META 1.96% 291,441 $192M $660.09 -$26M -5,950 -2.0%
11 XLU 1.66% 3,823,850 $163M $42.69 -$17M +1,761,600 +85.4%
12 JPM 1.62% 493,775 $159M $322.22 -$12M -47,950 -8.8%
13 DFAX 1.60% 4,806,630 $157M $32.73 $6M
14 XLK 1.50% 1,022,030 $147M $143.97 -$185M -155,150 -13.2%
15 VGK 1.47% 1,729,400 $145M $83.61 $32M +316,900 +22.4%
16 XLI 1.46% 923,500 $143M $155.12 $822K
17 IXUS 1.42% 1,647,735 $139M $84.64 -$350M -4,275,825 -72.2%
18 JIRE 1.27% 1,671,130 $125M $74.88 +1,671,130 NEW
19 TSLA 1.20% 262,550 $118M $449.72 -$2M -6,850 -2.5%
20 V 1.19% 332,951 $117M $350.71 $2M -1,850 -0.6%
21 BRK-B 1.18% 231,100 $116M $502.65 -$12M -23,400 -9.2%
22 DFAE 1.02% 3,086,900 $101M $32.57 $3M
23 HYDB 1.02% 2,116,815 $100M $47.35 $50M +1,061,100 +100.5%
24 GLD 1.02% 252,100 $100M $396.31 $10M
25 TSM 0.98% 317,975 $97M $303.89 $16M +29,650 +10.3%
26 LLY 0.94% 85,900 $92M $1,074.68 $26M -600 -0.7%
27 XOM 0.81% 663,004 $80M $120.34 $3M -17,650 -2.6%
28 UNH 0.81% 240,700 $79M $330.11 $6M +28,300 +13.3%
29 JNJ 0.80% 378,260 $78M $206.95 -$2M -55,800 -12.9%
30 IWR 0.74% 758,700 $73M $96.27 -$212K
31 NOW 0.73% 469,850 $72M $153.19 -$5M +386,650 +464.7%
32 KLAC 0.73% 58,652 $71M $1,215.08 -$2M -9,600 -14.1%
33 VOO 0.72% 112,887 $71M $627.13 -$38M -65,250 -36.6%
34 CDNS 0.70% 220,421 $69M $312.58 -$5M +9,250 +4.4%
35 WMT 0.69% 611,826 $68M $111.41 -$2M -67,750 -10.0%
36 XLY 0.69% 568,000 $68M $119.41 -$233K +284,000 +100.0%
37 PM 0.68% 418,406 $67M $160.40 $5M +37,600 +9.9%
38 ASML 0.66% 60,681 $65M $1,069.86 -$14M -21,050 -25.8%
39 WFC 0.65% 689,364 $64M $93.20 $5M -16,700 -2.4%
40 XLB 0.61% 1,317,600 $60M $45.35 $712K +658,800 +100.0%
41 MS 0.59% 329,050 $58M $177.53 $6M
42 PG 0.56% 387,437 $56M $143.31 -$6M -10,100 -2.5%
43 CVX 0.55% 352,367 $54M $152.41 -$3M -10,750 -3.0%
44 ACN 0.54% 199,600 $54M $268.30 $28M +96,000 +92.7%
45 UNP 0.54% 227,950 $53M $231.32 -$3M -7,200 -3.1%
46 APH 0.53% 384,034 $52M $135.14 $3M -9,600 -2.4%
47 USHY 0.52% 1,355,000 $51M $37.40 -$522K
48 KO 0.50% 707,950 $49M $69.91 $1M -18,450 -2.5%
49 PLTR 0.50% 276,357 $49M $177.75 $3M +25,800 +10.3%
50 TMO 0.50% 84,085 $49M $579.45 $738K -14,850 -15.0%
51 DHR 0.49% 211,300 $48M $228.92 $5M -5,500 -2.5%
52 KKR 0.49% 377,300 $48M $127.48 -$1M -1,700 -0.5%
53 HD 0.47% 135,100 $46M $344.10 -$4M +11,700 +9.5%
54 WELL 0.46% 245,600 $46M $185.61 -$2M -21,200 -8.0%
55 GE 0.46% 147,517 $45M $308.03 -$95K -3,850 -2.5%
56 ETN 0.45% 139,269 $44M $318.51 -$8M -850 -0.6%
57 AME 0.45% 215,100 $44M $205.31 $6M +13,300 +6.6%
58 MU 0.44% 152,345 $43M $285.41 $21M +20,600 +15.6%
59 ANET 0.44% 328,420 $43M $131.03 $21M +175,400 +114.6%
60 ABBV 0.43% 185,150 $42M $228.49 -$12M -48,150 -20.6%
61 LIN 0.42% 97,700 $42M $426.39 -$427K +9,100 +10.3%
62 RTX 0.41% 220,115 $40M $183.40 $3M -1,700 -0.8%
63 AMD 0.41% 186,972 $40M $214.16 $28M +113,900 +155.9%
64 MCD 0.41% 131,000 $40M $305.63 -$1M -5,200 -3.8%
65 AMT 0.40% 221,900 $39M $175.57 -$5M -5,800 -2.5%
66 TJX 0.39% 251,850 $39M $153.61 $2M -3,350 -1.3%
67 ORCL 0.38% 190,356 $37M $194.91 -$17M -1,200 -0.6%
68 CAT 0.37% 63,600 $36M $572.87 $6M -500 -0.8%
69 KIE 0.37% 605,150 $36M $60.15 -$88K -9,950 -1.6%
70 CB 0.37% 116,500 $36M $312.12 $2M -3,700 -3.1%
71 AXP 0.36% 96,600 $36M $369.95 -$302K -11,900 -11.0%
72 INTU 0.36% 53,900 $36M $662.42 $7M +11,700 +27.7%
73 MPWR 0.36% 39,272 $36M $906.36 -$1M -700 -1.8%
74 BKNG 0.36% 6,530 $35M $5,355.33 -$287K
75 IWM 0.34% 137,580 $34M $246.16 $578K
76 VZ 0.34% 829,816 $34M $40.73 -$24M -480,550 -36.7%
77 LHX 0.34% 112,550 $33M $293.57 -$2M -2,350 -2.0%
78 DXCM 0.33% 490,130 $33M $66.37 -$976K -7,800 -1.6%
79 VPL 0.32% 350,000 $32M $90.40 $896K
80 HUBB 0.32% 71,000 $32M $444.11 $722K -600 -0.8%
81 NFLX 0.32% 333,250 $31M $93.76 -$10M +299,050 +874.4%
82 IDXX 0.31% 45,400 $31M $676.53 $1M -400 -0.9%
83 GEV 0.30% 45,265 $30M $653.57 $2M
84 MRK 0.30% 277,374 $29M $105.26 $6M -3,650 -1.3%
85 BAC 0.30% 527,130 $29M $55.00 $1M -7,950 -1.5%
86 NXPI 0.29% 133,050 $29M $217.06 $3M +18,650 +16.3%
87 APO 0.29% 197,400 $29M $144.76 $2M -2,000 -1.0%
88 LVS 0.28% 426,250 $28M $65.09 $4M -13,350 -3.0%
89 VLTO 0.28% 272,616 $27M $99.78 -$3M -7,450 -2.7%
90 XLRE 0.27% 659,000 $27M $40.35 -$1M
91 DE 0.27% 56,600 $26M $465.57 -$581K -2,300 -3.9%
92 XLP 0.27% 336,700 $26M $77.68 -$232K
93 NOC 0.26% 45,000 $26M $570.21 -$3M -1,300 -2.8%
94 ECL 0.26% 97,400 $26M $262.52 -$2M -4,000 -3.9%
95 CNQ 0.26% 747,803 $25M $33.85 $608K -25,200 -3.3%
96 ISRG 0.26% 44,500 $25M $566.36 $18M +29,200 +190.8%
97 BKLN 0.26% 1,200,000 $25M $21.00 $84K
98 CTVA 0.26% 375,908 $25M $67.03 -$20M -295,150 -44.0%
99 BN 0.26% 547,650 $25M $45.89 -$517K +173,650 +46.4%
100 FDX 0.25% 85,850 $25M $288.86 $4M -750 -0.9%

New Positions

SymbolValue% Port
JIRE $125M 1.27%
BE $2M 0.02%
TOTB.DE $2M 0.02%
TME $1M 0.01%
BIDU $989K 0.01%
MICC $224K —%

Sold Out Positions

SymbolValue% Port
BJ —%
UL —%
TTE —%
CMCSA —%
WBD —%
EXAS —%
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