Danica Pension, Livsforsikringsaktieselskab

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 19, 2025), Danica Pension, Livsforsikringsaktieselskab reported 75 stock positions worth $6.5 billion. Its top holding was Nvidia (NVDA) at 7.7% of the portfolio, followed by Microsoft (MSFT, 7.6%) and Amazon.com (AMZN, 5.8%). Compared with Q2 2025, it opened 3 new positions, sold out of 8, added to 32 and reduced 15. The biggest buy was Apple (AAPL, shares +30%) and the biggest sale Thermo Fisher Scientific (TMO, shares −68%).

Most Recent 13F
Q2 2026
Location
COPENHAGEN V, G7
CIK
0002096095
Portfolio Value
$6.5B (Q3 2025)
SEC Filing
0001104659-25-114007 ↗ filed Nov 19, 2025

Holdings Value

0$2.0B$4.0B$6.0B$8.0B Q1 2024: $4.5B Q1 2024 Q2 2024: $4.9B Q2 2024 Q3 2024: $5.2B Q3 2024 Q4 2024: $5.3B Q4 2024 Q1 2025: $5.1B Q1 2025 Q2 2025: $6.0B Q2 2025 Q3 2025: $6.5B $6.5B Q3 2025 Q4 2025: $6.9B Q4 2025 Q1 2026: $5.3B Q1 2026 Q2 2026: $6.3B Q2 2026

Holdings 75 stocks · $6.5B
NVDA Nvidia Corp. 7.69% 2,672,535 $498.6M Add +10.8%
MSFT Microsoft Corp. 7.57% 947,631 $490.8M Reduce -0.4%
AMZN Amazon.com Inc. 5.81% 1,714,921 $376.5M Add +53.5%
AAPL Apple Inc. 5.24% 1,333,576 $339.6M Add +30.0%
GOOG Alphabet Inc. Class C 4.74% 1,262,308 $307.4M Reduce -18.5%
TSM Taiwan Semiconductor-SP ADR 3.59% 833,985 $232.9M Add +34.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 3.36% 4,226,213 $218.0M Add +8.4%
MA Mastercard Inc. Class A 2.94% 335,098 $190.6M Add +26.7%
ABT Abbott Laboratories 2.86% 1,385,990 $185.6M Reduce -0.3%
NEE Nextera Energy Inc. 2.73% 2,347,308 $177.2M Reduce -0.4%
BSX Boston Scientific Corp. 2.68% 1,778,892 $173.7M Add +4.3%
KO The Coca-Cola Co. 2.49% 2,429,588 $161.1M Add +3.9%
MRVL Marvell Technology Inc. 2.34% 1,801,931 $151.5M Add +73.6%
AVGO Broadcom Inc. 2.27% 445,854 $147.1M Reduce -17.9%
ELV Elevance Health Inc. 2.17% 434,549 $140.4M Add +35.1%
ORCL Oracle Corp. 2.16% 496,789 $139.7M Reduce -34.2%
MCK McKesson Corp. 2.09% 175,204 $135.4M Add +11.1%
FISV Fiserv Inc. 2.06% 1,037,718 $133.8M Reduce -1.9%
ETN Eaton Corp. PLC 2.05% 354,165 $132.5M Add +0.9%
HD Home Depot Inc. 2.02% 323,712 $131.2M Add +5.2%
XYZ Block Inc. 2.00% 1,793,112 $129.6M Add +1.9%
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC 1.71% 1,185,231 $110.5M New
TRU Transunion 1.68% 1,302,883 $109.2M Add +4.0%
META Meta Platforms Inc. Class A 1.67% 147,695 $108.5M Reduce -33.6%
TEAM Atlassian Corp. Class A 1.59% 647,023 $103.3M Add +26.3%
HUBS HubSpot Inc. 1.54% 213,205 $99.7M Add +72.4%
WMT Walmart Inc. 1.38% 866,364 $89.3M Reduce -7.6%
ZS Zscaler Inc. 1.36% 294,959 $88.4M Add +8.8%
UBER Uber Technologies Inc. 1.21% 797,217 $78.1M No change
OWL Blue Owl Capital Inc. 1.01% 3,849,597 $65.2M Add +46.7%
SSNC Ss&c Technologies Holdings 1.00% 730,000 $64.8M Reduce -12.1%
TMO Thermo Fisher Scientific Inc. 0.99% 131,645 $63.9M Reduce -68.2%
USB US Bancorp 0.94% 1,257,000 $60.8M No change
GE General Electric filed as GE AEROSPACE 0.89% 192,157 $57.8M No change
TRMB Trimble Inc. 0.88% 695,000 $56.7M Reduce -37.4%
JPM JPMorgan Chase & Co. 0.74% 152,023 $48.0M Add +15.9%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.71% 521,197 $45.9M Reduce -42.7%
ALLY Ally Financial Inc. 0.71% 1,166,658 $45.7M No change
VZ Verizon Communications Inc. 0.71% 1,040,508 $45.7M No change
GOOGL Alphabet Inc. Class A 0.68% 180,332 $43.8M Add +2.9%
COHR Coherent Corp. 0.65% 390,000 $42.0M New
CL Colgate-Palmolive Co. 0.61% 498,132 $39.8M Add +17.5%
DHR Danaher Corp. 0.49% 160,030 $31.7M New
MET Metlife Inc. 0.47% 372,000 $30.6M No change
NOW ServiceNow Inc. 0.34% 23,770 $21.9M Add +32.8%
C Citigroup Inc. 0.32% 201,602 $20.5M Reduce -43.8%
WELL Welltower Inc. 0.31% 114,140 $20.3M Add +10.2%
KEYS Keysight Technologies Inc. 0.29% 108,562 $19.0M Add +41.2%
COST Costco Wholesale Corp. 0.29% 20,356 $18.8M Add +14.3%
SPGI S&P Global Inc. 0.28% 36,741 $17.9M Add +13.4%
INTU Intuit Inc. 0.26% 24,820 $16.9M Add +12.2%
PGR Progressive Corp. 0.24% 63,036 $15.6M No change
XYL Xylem Inc. 0.22% 98,760 $14.6M No change
PWR Quanta Services Inc. 0.22% 33,761 $14.0M No change
UNH Unitedhealth Group Inc. 0.21% 39,760 $13.7M Add +17.0%
DGX Quest Diagnostics Inc. 0.21% 70,846 $13.5M No change
ECL Ecolab Inc. 0.20% 48,419 $13.3M No change
PLNT Planet Fitness Inc. Class A 0.18% 114,794 $11.9M No change
CRM Salesforce Inc. 0.18% 49,769 $11.8M No change
AMAT Applied Materials Inc. 0.18% 56,830 $11.6M Add +174.1%
MRK Merck & Co. Inc. 0.18% 135,471 $11.4M Add +21.8%
TDY Teledyne Technologies Inc. 0.17% 18,905 $11.1M No change
ARMK Aramark 0.16% 271,955 $10.4M No change
VRSK Verisk Analytics Inc. 0.16% 41,317 $10.4M No change
CLH Clean Harbors Inc. 0.15% 41,930 $9.7M No change
MMM 3M Co. 0.15% 62,311 $9.7M No change
TFC Truist Financial Corp. 0.14% 202,070 $9.2M No change
CME Cme Group Inc. 0.13% 30,307 $8.2M No change
DUOL Duolingo 0.09% 17,950 $5.8M Add +44.2%
CMG Chipotle Mexican Grill Inc. 0.08% 130,112 $5.1M No change
PANW Palo Alto Networks Inc. 0.07% 21,500 $4.4M No change
WDAY Workday Inc. Class A 0.05% 13,060 $3.1M Reduce -89.2%
DAR Darling Ingredients Inc. 0.03% 55,888 $1.7M No change
SVV Savers Value Village Inc. 0.02% 91,698 $1.2M No change
AVTR Avantor Inc. 0.01% 63,072 $787K No change

Portfolio Sells Q2 2025 → Q3 2025
TMO Thermo Fisher Scientific Inc. Reduce -68.2% 0.99% −1.82
CNC Centene Corp. Sold out 0.00% −1.24
META Meta Platforms Inc. Class A Reduce -33.6% 1.67% −1.07
FISV Fiserv Inc. Reduce -1.9% 2.06% −0.99
MU Micron Technology Inc. Sold out 0.00% −0.76
AZO AutoZone Inc. Sold out 0.00% −0.64
ORCL Oracle Corp. Reduce -34.2% 2.16% −0.61
TRMB Trimble Inc. Reduce -37.4% 0.88% −0.54
EL Estee Lauder Companies Class A Reduce -42.7% 0.71% −0.52
WDAY Workday Inc. Class A Reduce -89.2% 0.05% −0.44
MSFT Microsoft Corp. Reduce -0.4% 7.57% −0.35
ABT Abbott Laboratories Reduce -0.3% 2.86% −0.30
TSLA Tesla Inc. Sold out 0.00% −0.27
AVGO Broadcom Inc. Reduce -17.9% 2.27% −0.24
C Citigroup Inc. Reduce -43.8% 0.32% −0.20
KLAC KLA Corp. Sold out 0.00% −0.19
WMT Walmart Inc. Reduce -7.6% 1.38% −0.16
SSNC Ss&c Technologies Holdings Reduce -12.1% 1.00% −0.15
LOW Lowe's Cos Inc. Sold out 0.00% −0.06
URI United Rentals Inc. Sold out 0.00% −0.05
ADBE Adobe Inc. Sold out 0.00% −0.04
NEE Nextera Energy Inc. Reduce -0.4% 2.73% −0.00
GOOG Alphabet Inc. Class C Reduce -18.5% 4.74% +0.14

Portfolio Buys Q2 2025 → Q3 2025
AAPL Apple Inc. Add +30.0% 5.24% +1.72
AMZN Amazon.com Inc. Add +53.5% 5.81% +1.71
BJ Bj's Wholesale Club Holdings New 1.71% +1.71
NVDA Nvidia Corp. Add +10.8% 7.69% +1.31
TSM Taiwan Semiconductor-SP ADR Add +34.0% 3.59% +1.23
MRVL Marvell Technology Inc. Add +73.6% 2.34% +0.99
COHR Coherent Corp. New 0.65% +0.65
DHR Danaher Corp. New 0.49% +0.49
MA Mastercard Inc. Class A Add +26.7% 2.94% +0.45
HUBS HubSpot Inc. Add +72.4% 1.54% +0.39
BAC Bank of America Corp. Add +8.4% 3.36% +0.28
OWL Blue Owl Capital Inc. Add +46.7% 1.01% +0.16
GOOGL Alphabet Inc. Class A Add +2.9% 0.68% +0.16
MCK McKesson Corp. Add +11.1% 2.09% +0.15
HD Home Depot Inc. Add +5.2% 2.02% +0.14
AMAT Applied Materials Inc. Add +174.1% 0.18% +0.12
JPM JPMorgan Chase & Co. Add +15.9% 0.74% +0.10
KEYS Keysight Technologies Inc. Add +41.2% 0.29% +0.08
ELV Elevance Health Inc. Add +35.1% 2.17% +0.07
WELL Welltower Inc. Add +10.2% 0.31% +0.05
UNH Unitedhealth Group Inc. Add +17.0% 0.21% +0.03
NOW ServiceNow Inc. Add +32.8% 0.34% +0.03
MRK Merck & Co. Inc. Add +21.8% 0.18% +0.03
DUOL Duolingo Add +44.2% 0.09% +0.00
XYZ Block Inc. Add +1.9% 2.00% −0.00
COST Costco Wholesale Corp. Add +14.3% 0.29% −0.00
SPGI S&P Global Inc. Add +13.4% 0.28% −0.01
INTU Intuit Inc. Add +12.2% 0.26% −0.03
CL Colgate-Palmolive Co. Add +17.5% 0.61% −0.03
ETN Eaton Corp. PLC Add +0.9% 2.05% −0.05
ZS Zscaler Inc. Add +8.8% 1.36% −0.06
TEAM Atlassian Corp. Class A Add +26.3% 1.59% −0.15
TRU Transunion Add +4.0% 1.68% −0.16
KO The Coca-Cola Co. Add +3.9% 2.49% −0.28
BSX Boston Scientific Corp. Add +4.3% 2.68% −0.39

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 184$6.3BNVDA, AAPL, GOOG, MSFT, AMZN
Q1 2026 163$5.3BNVDA, AAPL, MSFT, GOOG, AMZN
Q4 2025 79$6.9BNVDA, MSFT, AMZN, GOOG, AAPL
Q3 2025Amended 75$6.5BNVDA, MSFT, AMZN, AAPL, GOOG
Q2 2025 80$6.0BMSFT, NVDA, GOOG, AMZN, AAPL
Q1 2025 83$5.1BMSFT, NVDA, AMZN, GOOG, AAPL
Q4 2024 90$5.3BMSFT, NVDA, AMZN, GOOG, AAPL
Q3 2024 96$5.2BMSFT, NVDA, GOOG, AMZN, AAPL
Q2 2024 88$4.9BMSFT, NVDA, AMZN, GOOG, AAPL
Q1 2024 93$4.5BMSFT, AMZN, GOOG, META, NVDA