# National Mutual Insurance Federation of Agricultural Cooperatives

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1542927. Source: https://holderbook.com/funds/1542927-national-mutual-insurance-federation-of-agricultural-coopera/

- Reported value: $15.3B
- Positions: 39
- Weight of the ten largest: 90.2%
- Filed: 2026-08-05

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $2.7B | 3,581,847 | 17.5% | 31 |
| VANGUARD INDEX FDS | [VV](https://holderbook.com/stocks/VV/) | $2.3B | 6,543,317 | 14.7% | 31 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $2.0B | 2,925,650 | 13.1% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $2.0B | 2,617,832 | 12.8% | 31 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $1.3B | 1,759,000 | 8.5% | 24 |
| INVESCO EXCH TRADED FD TR II | [QQQM](https://holderbook.com/stocks/QQQM/) | $1.0B | 3,322,000 | 6.6% | 9 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $994.2M | 2,686,800 | 6.5% | 28 |
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $838.0M | 9,536,000 | 5.5% | 9 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $440.7M | 4,040,400 | 2.9% | 31 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $323.9M | 791,000 | 2.1% | 21 |
| J P MORGAN EXCHANGE TRADED F | [BBUS](https://holderbook.com/stocks/BBUS/) | $171.8M | 1,275,000 | 1.1% | 7 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $115.4M | 100,000 | 0.8% | 19 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $109.0M | 305,000 | 0.7% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $105.4M | 364,400 | 0.7% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $102.2M | 511,000 | 0.7% | 9 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $82.0M | 219,900 | 0.5% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $75.9M | 105,000 | 0.5% | 5 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $64.4M | 270,000 | 0.4% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $58.9M | 156,000 | 0.4% | 3 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $52.7M | 160,900 | 0.3% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $52.2M | 92,600 | 0.3% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $43.5M | 36,300 | 0.3% | 8 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $39.6M | 289,700 | 0.3% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $38.4M | 339,100 | 0.3% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $37.8M | 110,300 | 0.2% | 31 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $35.9M | 84,300 | 0.2% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $35.0M | 68,100 | 0.2% | 31 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $28.7M | 72,200 | 0.2% | 29 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $28.3M | 29,400 | 0.2% | 6 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $28.1M | 27,000 | 0.2% | 1 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $28.0M | 55,900 | 0.2% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $25.1M | 308,500 | 0.2% | 31 |
| INTERCONTINENTAL EXCHANGE IN | [ICE](https://holderbook.com/stocks/ICE/) | $25.0M | 203,000 | 0.2% | 19 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $24.5M | 170,800 | 0.2% | 31 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $22.2M | 23,700 | 0.1% | 9 |
| AUTOZONE INC | [AZO](https://holderbook.com/stocks/AZO/) | $21.7M | 6,800 | 0.1% | 31 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $16.5M | 50,000 | 0.1% | 31 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $12.7M | 20,000 | 0.1% | 8 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $11.0M | 19,000 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +16.3% | +14.8% | +1.5% | 100% |
| Q1 2026 | -4.8% | -4.6% | -0.2% | 100% |
| Q4 2025 | +2.4% | +2.4% | +0.1% | 100% |
| Q3 2025 | +7.6% | +7.8% | -0.2% | 100% |
| Q2 2025 | +11.3% | +10.5% | +0.9% | 100% |
| Q1 2025 | -4.9% | -4.6% | -0.3% | 100% |
| Q4 2024 | +2.3% | +2.1% | +0.1% | 100% |
| Q3 2024 | +5.1% | +5.4% | -0.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $15.3B | 39 |
| Q1 2026 | $13.0B | 41 |
| Q4 2025 | $13.6B | 42 |
| Q3 2025 | $13.2B | 42 |
| Q2 2025 | $12.4B | 43 |
| Q1 2025 | $11.1B | 43 |
| Q4 2024 | $11.7B | 45 |
| Q3 2024 | $11.1B | 45 |
| Q2 2024 | $10.0B | 45 |
| Q1 2024 | $9.5B | 42 |
| Q4 2023 | $8.8B | 42 |
| Q3 2023 | $8.1B | 43 |