Danske Bank A/S
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed December 18, 2025), Danske Bank A/S reported 1,507 stock positions worth $40.3 billion. Its top holding was Nvidia (NVDA) at 7.3% of the portfolio, followed by Microsoft (MSFT, 7.2%) and Apple (AAPL, 5.8%). Compared with Q1 2025, it opened 216 new positions, sold out of 72, added to 659 and reduced 423. The biggest buy was Nvidia (NVDA, shares +10%) and the biggest sale Unitedhealth (UNH, shares −16%).
- Most Recent 13F
- Q2 2026
- Location
- COPENHAGEN V, G7
- CIK
- 0000800177
- Portfolio Value
- $40.3B (Q2 2025)
- SEC Filing
- 0001104659-25-122282 ↗ filed Dec 18, 2025
Holdings Value
Holdings 1,507 stocks · $40.3B
| NVDA Nvidia Corp. | 7.33% | 18,674,114 | $3.0B | Add +9.8% |
| MSFT Microsoft Corp. | 7.21% | 5,836,517 | $2.9B | Add +10.7% |
| AAPL Apple Inc. | 5.81% | 11,403,108 | $2.3B | Add +13.3% |
| AMZN Amazon.com Inc. | 4.58% | 8,399,874 | $1.8B | Add +8.8% |
| META Meta Platforms Inc. Class A | 3.29% | 1,794,701 | $1.3B | Add +19.3% |
| AVGO Broadcom Inc. | 2.43% | 3,554,507 | $979.8M | Add +23.1% |
| GOOGL Alphabet Inc. Class A | 2.36% | 5,391,077 | $950.1M | Add +10.7% |
| JPM JPMorgan Chase & Co. | 1.78% | 2,477,622 | $718.3M | Add +15.2% |
| TSLA Tesla Inc. | 1.68% | 2,126,964 | $675.7M | Add +20.2% |
| V Visa Inc. Class A | 1.66% | 1,886,031 | $669.6M | Add +12.8% |
| LLY Eli Lilly & Co. | 1.37% | 708,570 | $552.4M | Add +9.5% |
| GOOG Alphabet Inc. Class C | 1.26% | 2,862,893 | $507.8M | Add +10.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.17% | 967,652 | $470.1M | Add +4.5% |
| NFLX Netflix Inc. | 1.06% | 318,472 | $426.5M | Reduce -1.0% |
| COST Costco Wholesale Corp. | 0.84% | 341,186 | $337.8M | Add +13.3% |
| JNJ Johnson & Johnson | 0.78% | 2,051,702 | $313.4M | Add +8.4% |
| CRM Salesforce Inc. | 0.69% | 1,014,525 | $276.7M | Add +8.6% |
| WMT Walmart Inc. | 0.67% | 2,776,370 | $271.5M | Add +16.2% |
| LIN Linde PLC | 0.67% | 578,155 | $271.3M | Add +13.6% |
| CSCO Cisco Systems Inc. | 0.65% | 3,751,456 | $260.3M | Add +6.3% |
| KO The Coca-Cola Co. | 0.64% | 3,643,138 | $257.8M | Add +94.1% |
| ORCL Oracle Corp. | 0.62% | 1,133,000 | $247.7M | Add +17.3% |
| ABBV Abbvie Inc. | 0.61% | 1,318,661 | $244.8M | Add +0.9% |
| MA Mastercard Inc. Class A | 0.58% | 417,500 | $234.6M | Reduce -1.2% |
| PG The Procter & Gamble Co. | 0.57% | 1,446,039 | $230.4M | Reduce -9.5% |
| WFC Wells Fargo & Co. | 0.56% | 2,825,639 | $226.4M | Add +0.7% |
| UNH Unitedhealth Group Inc. | 0.53% | 682,618 | $213.0M | Reduce -16.3% |
| PLTR Palantir Technologies Inc. Class A | 0.52% | 1,534,137 | $209.1M | Add +30.9% |
| AXP American Express Co. | 0.52% | 651,609 | $207.9M | Add +24.4% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.51% | 6,084,291 | $205.6M | Add +143.0% |
| INTU Intuit Inc. | 0.49% | 250,379 | $197.2M | Add +23.3% |
| HD Home Depot Inc. | 0.48% | 523,752 | $192.0M | Reduce -6.8% |
| PANW Palo Alto Networks Inc. | 0.46% | 908,218 | $185.9M | Add +25.2% |
| PGR Progressive Corp. | 0.46% | 695,593 | $185.6M | Add +16.3% |
| WMB Williams Cos Inc. | 0.46% | 2,926,432 | $183.8M | Add +151.8% |
| GE General Electric filed as GE AEROSPACE | 0.46% | 711,648 | $183.2M | Add +47.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.45% | 1,475,041 | $182.9M | Add +61.3% |
| VZ Verizon Communications Inc. | 0.44% | 4,110,251 | $177.9M | Add +30.5% |
| QCOM Qualcomm Inc. | 0.42% | 1,070,372 | $170.5M | Add +12.8% |
| GS Goldman Sachs Group Inc. | 0.41% | 235,514 | $166.7M | Reduce -12.5% |
| MRK Merck & Co. Inc. | 0.41% | 2,084,238 | $165.0M | Add +13.4% |
| NOW ServiceNow Inc. | 0.40% | 156,718 | $161.1M | Add +12.5% |
| ADBE Adobe Inc. | 0.40% | 411,350 | $159.1M | Add +30.2% |
| RTX RTX Corp. | 0.39% | 1,087,986 | $158.9M | Add +59.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.39% | 3,348,912 | $158.5M | Reduce -0.6% |
| SCHW Schwab (charles) Corp. | 0.39% | 1,728,548 | $157.7M | Add +19.3% |
| SPGI S&P Global Inc. | 0.38% | 291,424 | $153.7M | Add +7.5% |
| UBER Uber Technologies Inc. | 0.38% | 1,633,836 | $152.4M | Add +43.8% |
| AMAT Applied Materials Inc. | 0.37% | 816,550 | $149.5M | Add +3.1% |
| APH Amphenol Corp. Class A | 0.36% | 1,485,605 | $146.7M | Add +5.8% |
| KLAC KLA Corp. | 0.36% | 161,369 | $144.5M | Add +10.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.36% | 488,572 | $144.0M | Reduce -27.1% |
| GILD Gilead Sciences Inc. | 0.34% | 1,243,405 | $137.9M | Add +24.0% |
| AMGN Amgen Inc. | 0.34% | 484,836 | $135.4M | Add +11.0% |
| BKNG Booking Holdings Inc. | 0.33% | 22,660 | $131.2M | Add +19.3% |
| MCD McDonald's Corp. | 0.33% | 448,388 | $131.0M | Add +45.5% |
| LRCX Lam Research Corp. | 0.32% | 1,332,026 | $129.7M | Add +39.7% |
| MRVL Marvell Technology Inc. | 0.32% | 1,657,008 | $128.3M | Add +37.0% |
| TMO Thermo Fisher Scientific Inc. | 0.32% | 314,814 | $127.6M | Add +6.6% |
| SYK Stryker Corp. | 0.31% | 316,214 | $125.1M | Add +40.7% |
| ACN Accenture PLC Class A | 0.30% | 409,189 | $122.3M | Reduce -9.3% |
| ABT Abbott Laboratories | 0.29% | 870,334 | $118.4M | Add +16.8% |
| BSX Boston Scientific Corp. | 0.29% | 1,087,470 | $116.8M | Add +21.3% |
| MELI MercadoLibre Inc. | 0.29% | 44,015 | $115.0M | Add +121.4% |
| ISRG Intuitive Surgical Inc. | 0.28% | 210,262 | $114.3M | Reduce -29.8% |
| ADSK Autodesk Inc. | 0.28% | 366,467 | $113.4M | Add +9.8% |
| AMD Advanced Micro Devices | 0.28% | 788,944 | $112.0M | Reduce -1.8% |
| TT Trane Technologies PLC | 0.27% | 248,402 | $108.7M | Add +15.7% |
| PFE Pfizer Inc. | 0.26% | 4,236,125 | $102.7M | Add +14.5% |
| T AT&T Inc. | 0.25% | 3,519,498 | $101.9M | Add +14.0% |
| ALL Allstate Corp. | 0.25% | 504,895 | $101.6M | Add +27.7% |
| ELV Elevance Health Inc. | 0.25% | 260,899 | $101.5M | Add +20.9% |
| HWM Howmet Aerospace Inc. | 0.25% | 538,824 | $100.3M | Add +73.1% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.24% | 191,349 | $97.5M | Reduce -11.4% |
| COR Cencora Inc. | 0.24% | 320,469 | $96.1M | Add +26.0% |
| BLK BlackRock Inc. | 0.23% | 89,332 | $93.7M | Add +40.9% |
| TXN Texas Instruments Inc. | 0.23% | 448,687 | $93.2M | Add +3.9% |
| MU Micron Technology Inc. | 0.23% | 748,977 | $92.3M | Add +57.2% |
| VRTX Vertex Pharmaceuticals Inc. | 0.23% | 206,746 | $92.0M | Add +29.4% |
| CMCSA Comcast Corp. Class A | 0.23% | 2,546,438 | $90.9M | Reduce -5.2% |
| TMUS T-Mobile US Inc. | 0.23% | 380,803 | $90.7M | Add +13.9% |
| NEE Nextera Energy Inc. | 0.22% | 1,298,981 | $90.2M | Reduce -27.1% |
| WDAY Workday Inc. Class A | 0.22% | 373,985 | $89.8M | Add +17.1% |
| MS Morgan Stanley | 0.22% | 618,224 | $87.1M | Add +7.9% |
| CAT Caterpillar Inc. | 0.22% | 223,970 | $86.9M | Reduce -5.3% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.21% | 2,613,873 | $85.2M | Add +20.9% |
| PEP Pepsico Inc. | 0.21% | 633,782 | $83.7M | Reduce -53.3% |
| TDG Transdigm Group Inc. | 0.21% | 54,999 | $83.6M | Add +172.5% |
| HIG Hartford Insurance Group Inc. | 0.21% | 658,174 | $83.5M | Add +63.4% |
| MRSH Marsh & McLennan Cos | 0.20% | 374,884 | $82.0M | Add +12.7% |
| DHR Danaher Corp. | 0.20% | 402,776 | $79.6M | Add +38.4% |
| C Citigroup Inc. | 0.20% | 933,949 | $79.5M | Reduce -24.9% |
| GEV GE Vernova Inc. | 0.19% | 147,378 | $78.0M | Add +29.1% |
| CL Colgate-Palmolive Co. | 0.19% | 851,809 | $77.4M | Add +52.0% |
| LOW Lowe's Cos Inc. | 0.19% | 346,092 | $76.8M | Add +45.6% |
| WM Waste Management Inc. | 0.19% | 332,330 | $76.0M | Reduce -0.4% |
| CEG Constellation Energy | 0.19% | 233,294 | $75.3M | Reduce -2.4% |
| APP AppLovin Corp. Class A | 0.18% | 212,339 | $74.3M | Add +63.7% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.18% | 231,342 | $74.1M | Add +21.1% |
| FTNT Fortinet Inc. | 0.18% | 696,802 | $73.7M | Add +32.7% |
Options reported separately and not counted above: GS calls ($5.5M), CRCL calls ($3.5M), MSFT calls ($2.3M), NBR puts ($1.2M), CRCL puts ($483K), TSLA puts ($178K), SE calls ($132K), PAAS calls ($52K), HL calls ($39K), QBTS puts ($27K), FTAI puts ($23K), SEDG calls ($18K), and 7 more.
Other holdings (1): bonds, preferreds, convertibles and warrants · $808 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 39 | $808 | No change |
Total filed on the 13F, all lines: $40.3B.
Portfolio Sells Q1 2025 → Q2 2025
| UNH Unitedhealth Group Inc. | Reduce -16.3% | 0.53% | −0.78 |
| PEP Pepsico Inc. | Reduce -53.3% | 0.21% | −0.41 |
| CVX Chevron Corp. | Reduce -93.3% | 0.02% | −0.38 |
| PG The Procter & Gamble Co. | Reduce -9.5% | 0.57% | −0.26 |
| ISRG Intuitive Surgical Inc. | Reduce -29.8% | 0.28% | −0.17 |
| NEE Nextera Energy Inc. | Reduce -27.1% | 0.22% | −0.16 |
| FISV Fiserv Inc. | Reduce -25.7% | 0.14% | −0.16 |
| BMY Bristol-Myers Squibb Co. | Reduce -19.8% | 0.15% | −0.16 |
| HD Home Depot Inc. | Reduce -6.8% | 0.48% | −0.15 |
| IBM Intl Business Machines Corp. | Reduce -27.1% | 0.36% | −0.15 |
| GDDY GoDaddy Inc. Class A | Reduce -70.4% | 0.04% | −0.13 |
| ACN Accenture PLC Class A | Reduce -9.3% | 0.30% | −0.13 |
| BA The Boeing Co. | Reduce -56.8% | 0.10% | −0.13 |
| MA Mastercard Inc. Class A | Reduce -1.2% | 0.58% | −0.12 |
| EOG EOG Resources Inc. | Reduce -88.3% | 0.01% | −0.12 |
| KMI Kinder Morgan Inc. | Reduce -92.8% | 0.01% | −0.11 |
| OKE Oneok Inc. | Reduce -88.4% | 0.01% | −0.11 |
| HES Hess Corp. | Reduce -92.7% | 0.00% | −0.09 |
| NKE Nike Inc. Class B | Reduce -39.1% | 0.10% | −0.08 |
| TRGP Targa Resources Corp. | Reduce -89.6% | 0.01% | −0.08 |
| OXY Occidental Petroleum Corp. | Reduce -93.5% | 0.00% | −0.08 |
| LNG Cheniere Energy Inc. | Reduce -87.9% | 0.01% | −0.08 |
| CMCSA Comcast Corp. Class A | Reduce -5.2% | 0.23% | −0.08 |
| ETN Eaton Corp. PLC | Reduce -37.2% | 0.15% | −0.08 |
| FANG Diamondback Energy Inc. | Reduce -89.5% | 0.01% | −0.07 |
| C Citigroup Inc. | Reduce -24.9% | 0.20% | −0.07 |
| SEIC Sei Investments Company | Reduce -79.8% | 0.02% | −0.07 |
| BDX Becton Dickinson and Co. | Reduce -15.6% | 0.08% | −0.07 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.07 |
| VLO Valero Energy Corp. | Reduce -92.6% | 0.00% | −0.07 |
| CTRA Coterra Energy Inc. | Reduce -85.7% | 0.01% | −0.06 |
| BRO Brown & Brown Inc. | Reduce -24.5% | 0.07% | −0.06 |
| BKR Baker Hughes Co. | Reduce -83.0% | 0.01% | −0.06 |
| GM General Motors Co. | Reduce -35.2% | 0.07% | −0.06 |
| REGN Regeneron Pharmaceuticals | Reduce -20.0% | 0.07% | −0.06 |
| DVN Devon Energy Corp. | Reduce -81.2% | 0.01% | −0.06 |
| LII Lennox International Inc. | Reduce -68.8% | 0.02% | −0.05 |
| CB Chubb Ltd. | Reduce -3.1% | 0.17% | −0.05 |
| MTD Mettler-Toledo International | Reduce -60.2% | 0.03% | −0.05 |
| EXE Expand Energy Corp. | Reduce -93.4% | 0.00% | −0.05 |
| PHM Pultegroup Inc. | Reduce -23.1% | 0.09% | −0.05 |
| AMP Ameriprise Financial Inc. | Reduce -28.9% | 0.09% | −0.05 |
| EQT Eqt Corp. | Reduce -96.0% | 0.00% | −0.05 |
| CLX Clorox Company | Reduce -58.0% | 0.02% | −0.05 |
| WM Waste Management Inc. | Reduce -0.4% | 0.19% | −0.05 |
| DOCU Docusign Inc. | Reduce -47.3% | 0.03% | −0.04 |
| EXPE Expedia Group Inc. | Reduce -45.5% | 0.04% | −0.04 |
| WRB WR Berkley Corp. | Reduce -10.4% | 0.13% | −0.04 |
| HAL Halliburton Co. | Reduce -81.3% | 0.01% | −0.04 |
| WSO Watsco Inc. | Reduce -58.0% | 0.02% | −0.04 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +9.8% | 7.33% | +1.70 |
| MSFT Microsoft Corp. | Add +10.7% | 7.21% | +1.17 |
| AVGO Broadcom Inc. | Add +23.1% | 2.43% | +0.96 |
| META Meta Platforms Inc. Class A | Add +19.3% | 3.29% | +0.64 |
| TSLA Tesla Inc. | Add +20.2% | 1.68% | +0.28 |
| WMB Williams Cos Inc. | Add +151.8% | 0.46% | +0.24 |
| KO The Coca-Cola Co. | Add +94.1% | 0.64% | +0.23 |
| PLTR Palantir Technologies Inc. Class A | Add +30.9% | 0.52% | +0.22 |
| ORCL Oracle Corp. | Add +17.3% | 0.62% | +0.20 |
| SLB SLB Ltd. | Add +143.0% | 0.51% | +0.19 |
| DIS The Walt Disney Co. | Add +61.3% | 0.45% | +0.18 |
| JPM JPMorgan Chase & Co. | Add +15.2% | 1.78% | +0.17 |
| MELI MercadoLibre Inc. | Add +121.4% | 0.29% | +0.17 |
| GE General Electric | Add +47.8% | 0.46% | +0.16 |
| TSM Taiwan Semiconductor-SP ADR | Add +622.5% | 0.17% | +0.14 |
| HWM Howmet Aerospace Inc. | Add +73.1% | 0.25% | +0.13 |
| UBER Uber Technologies Inc. | Add +43.8% | 0.38% | +0.13 |
| TDG Transdigm Group Inc. | Add +172.5% | 0.21% | +0.12 |
| RTX RTX Corp. | Add +59.2% | 0.39% | +0.12 |
| LRCX Lam Research Corp. | Add +39.7% | 0.32% | +0.11 |
| INTU Intuit Inc. | Add +23.3% | 0.49% | +0.11 |
| MU Micron Technology Inc. | Add +57.2% | 0.23% | +0.10 |
| AMZN Amazon.com Inc. | Add +8.8% | 4.58% | +0.09 |
| MRVL Marvell Technology Inc. | Add +37.0% | 0.32% | +0.09 |
| ETR Entergy Corp. | Add +4981.5% | 0.09% | +0.09 |
| GEV GE Vernova Inc. | Add +29.1% | 0.19% | +0.09 |
| AXP American Express Co. | Add +24.4% | 0.52% | +0.09 |
| PANW Palo Alto Networks Inc. | Add +25.2% | 0.46% | +0.08 |
| APH Amphenol Corp. Class A | Add +5.8% | 0.36% | +0.08 |
| APP AppLovin Corp. Class A | Add +63.7% | 0.18% | +0.08 |
| COF Capital One Financial Corp. | Add +95.1% | 0.17% | +0.08 |
| FTI Technipfmc PLC | Add +916.4% | 0.08% | +0.07 |
| PWR Quanta Services Inc. | Add +68.1% | 0.13% | +0.07 |
| TPL Texas Pacific Land Corp. | Add +314.0% | 0.11% | +0.07 |
| MCK McKesson Corp. | Add +74.5% | 0.18% | +0.06 |
| EME Emcor Group Inc. | Add +126.9% | 0.10% | +0.06 |
| NOW ServiceNow Inc. | Add +12.5% | 0.40% | +0.06 |
| ATO Atmos Energy Corp. | Add +151.3% | 0.12% | +0.06 |
| COIN Coinbase Global Inc. Class A | Add +46.4% | 0.10% | +0.06 |
| NTAP Netapp Inc. | Add +214.0% | 0.09% | +0.06 |
| GOOGL Alphabet Inc. Class A | Add +10.7% | 2.36% | +0.06 |
| BKNG Booking Holdings Inc. | Add +19.3% | 0.33% | +0.06 |
| SPOT Spotify Technology SA | Add +36.3% | 0.16% | +0.06 |
| EA Electronic Arts Inc. | Add +136.3% | 0.11% | +0.06 |
| CVS CVS Health Corp. | Add +83.7% | 0.17% | +0.06 |
| SYK Stryker Corp. | Add +40.7% | 0.31% | +0.06 |
| HIG Hartford Insurance Group Inc. | Add +63.4% | 0.21% | +0.06 |
| KLAC KLA Corp. | Add +10.1% | 0.36% | +0.05 |
| HEI.A Heico Corp. Class A | Add +85.6% | 0.11% | +0.05 |
| AMCR Amcor PLC | Add +415.0% | 0.07% | +0.05 |
Options Activity Q1 2025 → Q2 2025
| GS Goldman Sachs Group Inc. | call | New | 41,000 | $5.5M |
| CRCL Circle Internet Group Inc. | call | New | 114,000 | $3.5M |
| MSFT Microsoft Corp. | call | New | 27,000 | $2.3M |
| NBR Nabors Industries Ltd. | put | New | 100,000 | $1.2M |
| CRCL Circle Internet Group Inc. | put | New | 15,000 | $483K |
| TSLA Tesla Inc. | put | Reduce -10.0% | 7,200 | $178K |
| MSTR Strategy Inc. | call | Sold out | 1,500 | $163Kbefore exit |
| QBTS D-Wave Quantum Inc. | put | New | 20,000 | $27K |
| FTAI Ftai Aviation Ltd. | put | Reduce -72.2% | 5,000 | $23K |
| KO The Coca-Cola Co. | put | Sold out | 20,000 | $19Kbefore exit |
| GME Gamestop Corp. Class A | call | New | 50,000 | $12K |
| RGTI Rigetti Computing Inc. | call | Sold out | 50,000 | $5Kbefore exit |
| COST Costco Wholesale Corp. | call | Sold out | 5,000 | $3Kbefore exit |
| ENVX Enovix Corp. | call | Reduce -66.7% | 2,000 | $3K |
| QUBT Quantum Computing Inc. | call | Sold out | 60,000 | $2Kbefore exit |
| DJT Trump Media & Technology Gro | call | New | 10,000 | $2K |
| QBTS D-Wave Quantum Inc. | call | New | 20,000 | $2K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025
| CRCL Circle Internet Group Inc. | COM CL A | New | 0 | $0 |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,129 | $50.2B | NVDA, AAPL, AMZN, MSFT, GOOGL |
| Q1 2026 | 1,161 | $41.5B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q4 2025 | 1,547 | $43.0B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q3 2025Amended | 1,472 | $40.2B | NVDA, AAPL, MSFT, AMZN, META |
| Q2 2025 | 1,507 | $40.3B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 1,362 | $32.7B | AAPL, MSFT, NVDA, AMZN, META |
| Q4 2024 | 1,388 | $33.4B | AAPL, NVDA, MSFT, AMZN, META |
| Q3 2024 | 1,590 | $30.0B | AAPL, MSFT, NVDA, AMZN, META |
| Q2 2024 | 1,119 | $27.1B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q1 2024 | 1,022 | $31.9B | MSFT, NVDA, AAPL, AMZN, GOOGL |