Factory Mutual Insurance portfolio

What changed this quarter

96 positions with a change (17 new, 33 added to, 40 trimmed, 6 sold). 4 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Baillie Gifford ETF Tr+2.3 ppof portfolioNew
  — → 2.3%
• iShares Core U.s. Aggregate ETF+38%more sharesIncreased
  2.7% → 3.4%
• Invesco Exchange Traded Fund T−0.9 ppof portfolioSold out
  0.9% → —
• Vanguard S&P 500 ETF+86%more sharesIncreased
  0.9% → 1.7%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• NVIDIANVDA5.6%
• AppleAAPL4.8%
• AlphabetGOOG4.5%
• MicrosoftMSFT4.2%
• Dimensional ETF TrustDFCF3.6%
• iShares Core U.s. Aggregate ETFAGG3.4%
• J P Morgan Exchange Traded FundJCPB3.2%
• Amazon.comAMZN3.1%
• State Street Energy Select Sector ETFXLE2.4%
• Baillie Gifford ETF TrBGIA2.3%
• BroadcomAVGO2.2%
• Vanguard S&P 500 ETFVOO1.7%
• Meta PlatformsMETA1.7%
• State Street Technology Select Sector ETFXLK1.6%
• Dimensional ETF TrustDFAX1.6%
• JPMorgan ChaseJPM1.5%
• Micron TechnologyMU1.5%
• Taiwan Semiconductor ManufacturingTSM1.3%
• J P Morgan Exchange Traded FundJIRE1.2%
• VisaV1.2%
• St SR UTL SL SE SPDR ETF-usd ETFXLU1.1%
• Advanced Micro DevicesAMD1.0%
• Berkshire HathawayBRK/B1.0%
• KLAKLAC1.0%
• ASML HoldingASML0.9%
• Cadence Design SystemsCDNS0.9%
• UnitedHealth GroupUNH0.9%
• Eli LillyLLY0.9%
• iShares High Yield Systemati ETFHYDB0.8%
• TeslaTSLA0.8%
• Marvell TechnologyMRVL0.8%
• AmphenolAPH0.8%
• Exxon MobilXOM0.7%
• Johnson & JohnsonJNJ0.7%
• CrowdStrike HoldingsCRWD0.7%
• Intuitive SurgicalISRG0.7%
• iShares Russell Mid-cap ETFIWR0.7%
• EatonETN0.7%
• AmetekAME0.6%
• Philip Morris InternationalPM0.6%
• SPDR Gold Shares ETFGLD0.6%
• DanaherDHR0.6%
• State Street Consumer Disc Select Sect ETFXLY0.6%
• WalmartWMT0.5%
• Union PacificUNP0.5%
• DeereDE0.5%
• Coca-ColaKO0.5%
• State Street Industrial Select Sector ETFXLI0.5%
• Performance Food GroupPFGC0.5%
• Lam ResearchLRCX0.5%
• Monolithic Power SystemsMPWR0.5%
• ServiceNowNOW0.5%
• AbbVieABBV0.5%
• Morgan StanleyMS0.5%
• Arista NetworksANET0.5%
• Procter & GamblePG0.5%
• Thermo Fisher ScientificTMO0.4%
• iShares Core International Stock ETFIXUS0.4%
• SyscoSYY0.4%
• DexcomDXCM0.4%
• Palantir TechnologiesPLTR0.4%
• iShares Broad USD High Yield ETFUSHY0.4%
• ChevronCVX0.4%
• State Street Materials Select Sector ETFXLB0.4%
• DatadogDDOG0.4%
• iShares China Large-cap ETFFXI0.4%
• CaterpillarCAT0.4%
• LindeLIN0.4%
• KKRKKR0.4%
• MerckMRK0.4%
• SLBSLB0.3%
• Corebridge FinancialCRBG0.3%
• iShares Russell 2000 ETFIWM0.3%
• Verizon CommunicationsVZ0.3%
• GE AerospaceGE0.3%
• Hyatt HotelsH0.3%
• WelltowerWELL0.3%
• Wells FargoWFC0.3%
• American TowerAMT0.3%
• Dimensional ETF TrustDFAE0.3%
• RTXRTX0.3%
• HubbellHUBB0.3%
• TJXTJX0.3%
• Northrop GrummanNOC0.3%
• American ExpressAXP0.3%
• McDONALD’SMCD0.3%
• VeraltoVLTO0.3%
• Bank of AmericaBAC0.3%
• Align TechnologyALGN0.3%
• Abbott LaboratoriesABT0.3%
• UnileverUL0.3%
• Canadian Natural ResourcesCNQ0.3%
• EcolabECL0.2%
• GE VernovaGEV0.2%
• Costco WholesaleCOST0.2%
• Home DepotHD0.2%
• ChubbCB0.2%
• Simon Property GroupSPG0.2%
• Texas InstrumentsTXN0.2%
• Mondelez InternationalMDLZ0.2%