National Mutual Insurance Federation of Agricultural Cooperatives Diversified Active

Period: Q4 2025 (← Previous)

Filing Date: Feb 4, 2026

Total Value ($000): $13,637,346 (100.0% shares, 0.0% debt)

Holdings (42)

New Positions (1)

Value ($000) $15,575 Shares 45,000 Est. Cost $357.00 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AVGO	BROADCOM INC	45,000	$15,575	0.1%	$357.00	0.0%	COM	11135F101

Increased Positions (3)

BBUS J P MORGAN EXCHANGE TRADED F 1.2%

Value ($000) $157,220 (+181.4%) Shares 1,275,000 (+175.4%) Est. Cost $117.00 Unrealized —

QQQM INVESCO EXCH TRADED FD TR II 4.9%

Value ($000) $666,191 (+7.6%) Shares 2,634,000 (+5.1%) Est. Cost $204.26 Unrealized —

ICE INTERCONTINENTAL EXCHANGE IN 0.2%

Value ($000) $32,878 (+22.0%) Shares 203,000 (+26.9%) Est. Cost $131.90 Unrealized +18.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BBUS	J P MORGAN EXCHANGE TRADED F	1,275,000 (+175.4%)	$157,220 (+181.4%)	1.2%	$117.00	—	BETABUILDRS US	46641Q399
QQQM	INVESCO EXCH TRADED FD TR II	2,634,000 (+5.1%)	$666,191 (+7.6%)	4.9%	$204.26	—	NASDAQ 100 ETF	46138G649
ICE	INTERCONTINENTAL EXCHANGE IN	203,000 (+26.9%)	$32,878 (+22.0%)	0.2%	$131.90	+18.4%	COM	45866F104

Exited Positions (1)

ZBRA ZEBRA TECHNOLOGIES CORPORATI 0.1%

Value ($000) $19,315 Shares 65,000 Est. Cost $319.72 Unrealized -16.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ZBRA	ZEBRA TECHNOLOGIES CORPORATI	65,000	$19,315	0.1%	$319.72	-16.4%	—	989207105

Decreased Positions (1)

MU MICRON TECHNOLOGY INC 0.3%

Value ($000) $37,674 (+39.0%) Shares 132,000 (-18.5%) Est. Cost $71.82 Unrealized +219.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MU	MICRON TECHNOLOGY INC	132,000 (-18.5%)	$37,674 (+39.0%)	0.3%	$71.82	+219.3%	COM	595112103

Unchanged Positions (37)

IVV ISHARES TR 18.0%

Value ($000) $2,453,350 Shares 3,581,847 Est. Cost $376.92 Unrealized —

VV VANGUARD INDEX FDS 15.1%

Value ($000) $2,059,836 Shares 6,543,317 Est. Cost $123.74 Unrealized —

VOO VANGUARD INDEX FDS 13.5%

Value ($000) $1,834,763 Shares 2,925,650 Est. Cost $233.54 Unrealized —

SPY SPDR S&P 500 ETF TR 13.1%

Value ($000) $1,785,152 Shares 2,617,832 Est. Cost $240.74 Unrealized —

GOOGL ALPHABET INC 0.8%

Value ($000) $112,837 Shares 360,500 Est. Cost $108.57 Unrealized +163.1%

QQQ INVESCO QQQ TR 7.9%

Value ($000) $1,080,571 Shares 1,759,000 Est. Cost $277.84 Unrealized —

VTI VANGUARD INDEX FDS 6.6%

Value ($000) $900,803 Shares 2,686,800 Est. Cost $143.56 Unrealized —

SPYM SPDR SERIES TRUST 5.6%

Value ($000) $764,978 Shares 9,536,000 Est. Cost $66.94 Unrealized —

LLY ELI LILLY & CO 0.3%

Value ($000) $39,011 Shares 36,300 Est. Cost $843.30 Unrealized +13.3%

ISRG INTUITIVE SURGICAL INC 0.3%

Value ($000) $40,891 Shares 72,200 Est. Cost $294.99 Unrealized +80.5%

META META PLATFORMS INC 0.4%

Value ($000) $61,124 Shares 92,600 Est. Cost $282.65 Unrealized +136.1%

IWB ISHARES TR 2.2%

Value ($000) $295,391 Shares 791,000 Est. Cost $230.43 Unrealized —

AZO AUTOZONE INC 0.2%

Value ($000) $23,062 Shares 6,800 Est. Cost $1426.29 Unrealized +164.9%

MSFT MICROSOFT CORP 0.6%

Value ($000) $86,036 Shares 177,900 Est. Cost $165.92 Unrealized +201.7%

AAPL APPLE INC 0.6%

Value ($000) $86,832 Shares 319,400 Est. Cost $117.86 Unrealized +127.7%

AMAT APPLIED MATLS INC 0.2%

Value ($000) $26,984 Shares 105,000 Est. Cost $173.78 Unrealized +37.8%

TMO THERMO FISHER SCIENTIFIC INC 0.2%

Value ($000) $32,391 Shares 55,900 Est. Cost $362.35 Unrealized +56.0%

LQD ISHARES TR 3.3%

Value ($000) $445,212 Shares 4,040,400 Est. Cost $116.03 Unrealized —

ETN EATON CORP PLC 0.2%

Value ($000) $26,850 Shares 84,300 Est. Cost $130.65 Unrealized +171.2%

AMZN AMAZON COM INC 0.5%

Value ($000) $62,321 Shares 270,000 Est. Cost $124.33 Unrealized +84.0%

WMT WALMART INC 0.3%

Value ($000) $37,779 Shares 339,100 Est. Cost $51.30 Unrealized +109.0%

BLK BLACKROCK INC 0.2%

Value ($000) $31,468 Shares 29,400 Est. Cost $961.85 Unrealized +13.3%

SPGI S&P GLOBAL INC 0.2%

Value ($000) $27,593 Shares 52,800 Est. Cost $313.63 Unrealized +57.6%

COST COSTCO WHSL CORP NEW 0.1%

Value ($000) $20,437 Shares 23,700 Est. Cost $871.74 Unrealized +3.9%

XOM EXXON MOBIL CORP 0.1%

Value ($000) $20,061 Shares 166,700 Est. Cost $82.96 Unrealized +39.2%

KO COCA COLA CO 0.2%

Value ($000) $21,567 Shares 308,500 Est. Cost $41.65 Unrealized +66.6%

HON HONEYWELL INTL INC 0.1%

Value ($000) $13,851 Shares 71,000 Est. Cost $160.45 Unrealized +21.5%

JPM JPMORGAN CHASE & CO. 0.4%

Value ($000) $51,845 Shares 160,900 Est. Cost $85.14 Unrealized +263.6%

V VISA INC 0.3%

Value ($000) $38,683 Shares 110,300 Est. Cost $158.38 Unrealized +114.9%

INTU INTUIT 0.2%

Value ($000) $28,418 Shares 42,900 Est. Cost $331.28 Unrealized +99.4%

TRV TRAVELERS COMPANIES INC 0.1%

Value ($000) $14,503 Shares 50,000 Est. Cost $128.60 Unrealized +118.2%

CVX CHEVRON CORP NEW 0.1%

Value ($000) $15,089 Shares 99,000 Est. Cost $117.52 Unrealized +28.8%

EMR EMERSON ELEC CO 0.2%

Value ($000) $22,669 Shares 170,800 Est. Cost $77.98 Unrealized +69.8%

DE DEERE & CO 0.1%

Value ($000) $9,311 Shares 20,000 Est. Cost $369.25 Unrealized +26.7%

MA MASTERCARD INCORPORATED 0.3%

Value ($000) $38,877 Shares 68,100 Est. Cost $252.81 Unrealized +121.1%

DIS DISNEY WALT CO 0.2%

Value ($000) $21,958 Shares 193,000 Est. Cost $108.76 Unrealized +0.7%

NVDA NVIDIA CORPORATION 0.7%

Value ($000) $95,302 Shares 511,000 Est. Cost $116.08 Unrealized +60.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IVV	ISHARES TR	3,581,847	$2,453,350	18.0%	$376.92	—	CORE S&P 500 ETF	464287200
VV	VANGUARD INDEX FDS	6,543,317	$2,059,836	15.1%	$123.74	—	LARGE CAP ETF	922908637
VOO	VANGUARD INDEX FDS	2,925,650	$1,834,763	13.5%	$233.54	—	S&P 500 ETF SHS	922908363
SPY	SPDR S&P 500 ETF TR	2,617,832	$1,785,152	13.1%	$240.74	—	TR UNIT	78462F103
GOOGL	ALPHABET INC	360,500	$112,837	0.8%	$108.57	+163.1%	CAP STK CL A	02079K305
QQQ	INVESCO QQQ TR	1,759,000	$1,080,571	7.9%	$277.84	—	UNIT SER 1	46090E103
VTI	VANGUARD INDEX FDS	2,686,800	$900,803	6.6%	$143.56	—	TOTAL STK MKT	922908769
SPYM	SPDR SERIES TRUST	9,536,000	$764,978	5.6%	$66.94	—	STATE STREET SPD	78464A854
LLY	ELI LILLY & CO	36,300	$39,011	0.3%	$843.30	+13.3%	COM	532457108
ISRG	INTUITIVE SURGICAL INC	72,200	$40,891	0.3%	$294.99	+80.5%	COM NEW	46120E602
META	META PLATFORMS INC	92,600	$61,124	0.4%	$282.65	+136.1%	CL A	30303M102
IWB	ISHARES TR	791,000	$295,391	2.2%	$230.43	—	RUS 1000 ETF	464287622
AZO	AUTOZONE INC	6,800	$23,062	0.2%	$1426.29	+164.9%	COM	053332102
MSFT	MICROSOFT CORP	177,900	$86,036	0.6%	$165.92	+201.7%	COM	594918104
AAPL	APPLE INC	319,400	$86,832	0.6%	$117.86	+127.7%	COM	037833100
AMAT	APPLIED MATLS INC	105,000	$26,984	0.2%	$173.78	+37.8%	COM	038222105
TMO	THERMO FISHER SCIENTIFIC INC	55,900	$32,391	0.2%	$362.35	+56.0%	COM	883556102
LQD	ISHARES TR	4,040,400	$445,212	3.3%	$116.03	—	IBOXX INV CP ETF	464287242
ETN	EATON CORP PLC	84,300	$26,850	0.2%	$130.65	+171.2%	SHS	G29183103
AMZN	AMAZON COM INC	270,000	$62,321	0.5%	$124.33	+84.0%	COM	023135106
WMT	WALMART INC	339,100	$37,779	0.3%	$51.30	+109.0%	COM	931142103
BLK	BLACKROCK INC	29,400	$31,468	0.2%	$961.85	+13.3%	COM	09290D101
SPGI	S&P GLOBAL INC	52,800	$27,593	0.2%	$313.63	+57.6%	COM	78409V104
COST	COSTCO WHSL CORP NEW	23,700	$20,437	0.1%	$871.74	+3.9%	COM	22160K105
XOM	EXXON MOBIL CORP	166,700	$20,061	0.1%	$82.96	+39.2%	COM	30231G102
KO	COCA COLA CO	308,500	$21,567	0.2%	$41.65	+66.6%	COM	191216100
HON	HONEYWELL INTL INC	71,000	$13,851	0.1%	$160.45	+21.5%	COM	438516106
JPM	JPMORGAN CHASE & CO.	160,900	$51,845	0.4%	$85.14	+263.6%	COM	46625H100
V	VISA INC	110,300	$38,683	0.3%	$158.38	+114.9%	COM CL A	92826C839
INTU	INTUIT	42,900	$28,418	0.2%	$331.28	+99.4%	COM	461202103
TRV	TRAVELERS COMPANIES INC	50,000	$14,503	0.1%	$128.60	+118.2%	COM	89417E109
CVX	CHEVRON CORP NEW	99,000	$15,089	0.1%	$117.52	+28.8%	COM	166764100
EMR	EMERSON ELEC CO	170,800	$22,669	0.2%	$77.98	+69.8%	COM	291011104
DE	DEERE & CO	20,000	$9,311	0.1%	$369.25	+26.7%	COM	244199105
MA	MASTERCARD INCORPORATED	68,100	$38,877	0.3%	$252.81	+121.1%	CL A	57636Q104
DIS	DISNEY WALT CO	193,000	$21,958	0.2%	$108.76	+0.7%	COM	254687106
NVDA	NVIDIA CORPORATION	511,000	$95,302	0.7%	$116.08	+60.3%	COM	67066G104