1y return+21.2%S&P 500 +20.9%
3y return+68.3%S&P 500 +68.5%
5y return+69.5%S&P 500 +74.5%
10y return+226.8%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $327 against $357 in the S&P 500.2
National Mutual Insurance Federation of Agricultural CooperativesS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| IVVIshares Tr | $2.7B | 17.5% | |
| VVVanguard Index Fds | $2.3B | 14.7% | |
| VOOVanguard Index Fds | $2.0B | 13.1% | |
| SPYState Str Spdr S&p 500 Etf T | $2.0B | 12.8% | |
| QQQInvesco Qqq Tr | $1.3B | 8.5% | |
| QQQMInvesco Exch Traded Fd Tr II | $1.0B | 6.6% | +23.4% |
| VTIVanguard Index Fds | $994.2M | 6.5% | |
| SPYMSpdr Series Trust | $838.0M | 5.5% | |
| LQDIshares Tr | $440.7M | 2.9% | |
| IWBIshares Tr | $323.9M | 2.1% | |
| BBUSJ P Morgan Exchange Traded F | $171.8M | 1.1% | |
| MUMicron Technology Inc | $115.4M | 0.8% | −24.2% |
| GOOGLAlphabet Inc | $109.0M | 0.7% | −10.3% |
| AAPLApple Inc | $105.4M | 0.7% | +14.1% |
| NVDANvidia Corporation | $102.2M | 0.7% | |
| MSFTMicrosoft Corp | $82.0M | 0.5% | +23.6% |
| AMATApplied Matls Inc | $75.9M | 0.5% | |
| AMZNAmazon Com Inc | $64.4M | 0.4% | |
| AVGOBroadcom Inc | $58.9M | 0.4% | +57.6% |
| JPMJpmorgan Chase & Co | $52.7M | 0.3% | |
| METAMeta Platforms Inc | $52.2M | 0.3% | |
| LLYEli Lilly & Co | $43.5M | 0.3% | |
| Exxon Mobil CorpCUSIP 30231G102 | $39.6M | 0.3% | +73.8% |
| WMTWalmart Inc | $38.4M | 0.3% | |
| VVisa Inc | $37.8M | 0.2% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| GOOGLAlphabet Inc | June 30, 2020 | +404.0% | $109.0M |
| Eaton Corp PLCCUSIP G29183103 | June 30, 2020 | +387.1% | $35.9M |
| AMATApplied Matls Inc | June 30, 2025 | +294.9% | $75.9M |
| JPMJpmorgan Chase & Co | June 30, 2020 | +248.0% | $52.7M |
| AAPLApple Inc | June 30, 2020 | +217.3% | $105.4M |
| Exxon Mobil CorpCUSIP 30231G102 | June 30, 2020 | +205.7% | $39.6M |
| TRVTravelers Companies Inc | June 30, 2020 | +189.5% | $16.5M |
| WMTWalmart Inc | June 30, 2020 | +183.7% | $38.4M |
| AZOAutozone Inc | June 30, 2020 | +183.3% | $21.7M |
| QQQInvesco Qqq Tr | September 30, 2020 | +165.0% | $1.3B |
Sold off last quarter
- SPGIS&p Global Inc was $22.5M
- CVXChevron Corporation was $20.5M
- DISDisney Walt Co was $18.6M
- INTUIntuit was $18.5M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +15.6% | +14.8% |
| March 31, 2026 | −4.8% | −4.6% |
| December 31, 2025 | +2.4% | +2.4% |
| September 30, 2025 | +7.6% | +7.8% |
| June 30, 2025 | +11.3% | +10.5% |
| March 31, 2025 | −4.9% | −4.6% |
| December 31, 2024 | +2.3% | +2.1% |
| September 30, 2024 | +5.1% | +5.4% |
| June 30, 2024 | +3.8% | +4.0% |
| March 31, 2024 | +9.4% | +10.0% |
| December 31, 2023 | +11.5% | +11.2% |
| September 30, 2023 | −3.7% | −3.6% |
| June 30, 2023 | +8.3% | +8.3% |
| March 31, 2023 | +7.7% | +7.0% |
| December 31, 2022 | +6.3% | +7.1% |
| September 30, 2022 | −5.3% | −5.3% |
| June 30, 2022 | −17.0% | −16.5% |
| March 31, 2022 | −5.9% | −4.9% |
| December 31, 2021 | +9.6% | +10.7% |
| September 30, 2021 | +0.1% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: National Mutual Insurance Federation of Agricultural Cooperatives Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1542927&type=13F-HR&dateb=&owner=include&count=40CIK 1542927
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1542927/000092963826002885/Filed August 5, 2026 · accession 0000929638-26-002885