National Mutual Insurance Federation of Agricultural Cooperatives
CIK 1542927 · View on SEC EDGAR ↗
- Portfolio value
- $15.3B
- Positions
- 39
- As of
- June 30, 2026
#370 of 9,443 by 13F value · top 3.9%
Portfolio value QoQ: +17.7% 13F does not disclose cash
- Top 10 holdings weight
- 90.24%
- Top 25 holdings weight
- 97.76%
- Positions above 1%
- 11
- Effective number of positions
- 9.4
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 0.92% Est. buys $297,392,240 · sells $129,536,724
Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 78.0% still held
- New positions
- 2
- Increased
- 5
- Decreased
- 2
- Closed
- 4
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Technology
3.6%
Communication Services
1.1%
Retail
1.0%
Financial Services
0.8%
Healthcare
0.7%
Financials
0.5%
Industrials
0.5%
Energy
0.3%
Real Estate
0.2%
Consumer Staples
0.2%
Other/Unmapped
91.4%
Full portfolio 39 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| IVV | $2,682,409,400 | 17.55% | 3,581,847 | $342,711,121 | |||
| VV | $2,250,312,149 | 14.72% | 6,543,317 | $294,841,864 | |||
| VOO | $2,009,365,677 | 13.14% | 2,925,650 | $261,143,519 | |||
| SPY SPY | $1,954,918,403 | 12.79% | 2,617,832 | $252,437,540 | |||
| QQQ Invesco QQQ Trust, Series 1 | $1,295,327,600 | 8.47% | 1,759,000 | $280,067,980 | |||
| QQQM Invesco NASDAQ 100 ETF | $1,006,466,340 | 6.58% | 3,322,000 | $367,030,920 | Up ×3 | ||
| VTI | $994,223,472 | 6.50% | 2,686,800 | $132,271,164 | |||
| SPYM | $838,023,680 | 5.48% | 9,536,000 | $108,138,240 | |||
| LQD | $440,686,428 | 2.88% | 4,040,400 | $323,232 | |||
| IWB | $323,914,500 | 2.12% | 791,000 | $41,875,540 | |||
| BBUS | $171,768,000 | 1.12% | 1,275,000 | $22,363,500 | |||
| MU Micron Technology, Inc. - Common Stock | $115,429,000 | 0.76% | 100,000 | $70,834,120 | Down ×1 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $108,997,850 | 0.71% | 305,000 | $11,227,450 | Down ×2 | ||
| AAPL Apple Inc. - Common Stock | $105,442,784 | 0.69% | 364,400 | $24,382,258 | Up ×1 | ||
| NVDA NVIDIA Corporation - Common Stock | $102,245,990 | 0.67% | 511,000 | $13,127,590 | |||
| MSFT Microsoft Corporation - Common Stock | $82,027,098 | 0.54% | 219,900 | $16,173,855 | Up ×1 | ||
| AMAT Applied Materials, Inc. - Common Stock | $75,915,000 | 0.50% | 105,000 | $40,027,050 | |||
| AMZN Amazon.com, Inc. - Common Stock | $64,351,800 | 0.42% | 270,000 | $8,118,900 | |||
| AVGO Broadcom Inc. - Common Stock | $58,929,000 | 0.39% | 156,000 | $28,287,510 | Up ×2 | ||
| JPM JP Morgan Chase & Co. Common Stock | $52,667,397 | 0.34% | 160,900 | $5,337,053 | |||
| META Meta Platforms, Inc. - Class A Common Stock | $52,160,654 | 0.34% | 92,600 | $-818,584 | |||
| LLY Eli Lilly and Company Common Stock | $43,539,309 | 0.28% | 36,300 | $10,151,658 | |||
| XOM Exxon Mobil Corporation Common Stock | $39,607,784 | 0.26% | 289,700 | $11,325,462 | Up ×1 | ||
| WMT Walmart Inc. - Common Stock | $38,406,466 | 0.25% | 339,100 | $-3,736,882 | |||
| V Visa Inc. | $37,842,827 | 0.25% | 110,300 | $4,505,755 | |||
| ETN Eaton Corporation, PLC Ordinary Shares | $35,921,916 | 0.23% | 84,300 | $5,770,335 | |||
| MA Mastercard Incorporated Common Stock | $34,976,160 | 0.23% | 68,100 | $949,314 | |||
| ISRG Intuitive Surgical, Inc. - Common Stock | $28,712,496 | 0.19% | 72,200 | $-4,570,982 | |||
| BLK BlackRock, Inc. Common Stock | $28,269,864 | 0.18% | 29,400 | $-4,410 | |||
| EQIX Equinix, Inc. - Common Stock | $28,144,530 | 0.18% | 27,000 | Up ×1 | |||
| TMO Thermo Fisher Scientific Inc Common Stock | $28,026,024 | 0.18% | 55,900 | $549,497 | |||
| KO Coca-Cola Company (The) Common Stock | $25,071,795 | 0.16% | 308,500 | $1,610,370 | |||
| ICE Intercontinental Exchange Inc. Common Stock | $24,991,330 | 0.16% | 203,000 | $-6,936,510 | |||
| EMR Emerson Electric Company Common Stock | $24,450,020 | 0.16% | 170,800 | $2,071,804 | |||
| COST Costco Wholesale Corporation - Common Stock | $22,170,639 | 0.15% | 23,700 | $-1,444,752 | |||
| AZO AutoZone, Inc. Common Stock | $21,732,392 | 0.14% | 6,800 | $-1,236,512 | |||
| TRV The Travelers Companies, Inc. Common Stock | $16,506,000 | 0.11% | 50,000 | $1,922,000 | |||
| DE Deere & Company Common Stock | $12,686,600 | 0.08% | 20,000 | $1,420,600 | |||
| AMD Advanced Micro Devices, Inc. - Common Stock | $11,037,290 | 0.07% | 19,000 | Up ×1 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| QQQM | $1,006,466,340 | 6.58% | up ×3 |
Biggest new bets
New positions opened this quarter, largest first.
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| QQQM | Bought more | +631K | +$367.0M |
| IVV | Price move only | +0 | +$342.7M |
| VV | Price move only | +0 | +$294.8M |
| QQQ | Price move only | +0 | +$280.1M |
| VOO | Price move only | +0 | +$261.1M |
| SPY | Price move only | +0 | +$252.4M |
| VTI | Price move only | +0 | +$132.3M |
| SPYM | Price move only | +0 | +$108.1M |
| MU | Trimmed | -32K | +$70.8M |
| IWB | Price move only | +0 | +$41.9M |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| BLKXXXX | March 31, 2025 | 29,400 | $30,138,234 | No longer tracked |
| SPGI | June 30, 2026 | 52,800 | $22,457,952 | 12.5% |
| CVX | June 30, 2026 | 99,000 | $20,483,100 | 24.6% |
| ZBRA | Dec. 31, 2025 | 65,000 | $19,315,400 | 48.2% |
| DIS | June 30, 2026 | 193,000 | $18,601,340 | 11.3% |
| INTU | June 30, 2026 | 42,900 | $18,549,102 | 38.2% |
| HON | March 31, 2026 | 71,000 | $13,851,390 | -2.9% |
| MDT | June 30, 2025 | 127,000 | $11,412,220 | 5.7% |
| PEP | March 31, 2025 | 61,000 | $9,275,660 | -4.9% |
| NSC | Sept. 30, 2025 | 32,400 | $8,293,428 | 15.9% |
| PYPL | March 31, 2025 | 60,300 | $5,146,605 | -4.7% |