Danske Bank A/S

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 2, 2026), Danske Bank A/S reported 1,547 stock positions worth $43.0 billion. Its top holding was Nvidia (NVDA) at 7.7% of the portfolio, followed by Apple (AAPL, 6.4%) and Microsoft (MSFT, 6.0%). Compared with Q3 2025, it opened 147 new positions, sold out of 74, added to 564 and reduced 331. The biggest buy was Alphabet Class A (GOOGL, shares +3%) and the biggest sale Meta Platforms Class A (META, shares −1%).

Most Recent 13F
Q2 2026
Location
COPENHAGEN V, G7
CIK
0000800177
Portfolio Value
$43.0B (Q4 2025)
SEC Filing
0001104659-26-008866 ↗ filed Feb 2, 2026

Holdings Value

0$20.0B$40.0B$60.0B Q1 2024: $31.9B Q1 2024 Q2 2024: $27.1B Q2 2024 Q3 2024: $30.0B Q3 2024 Q4 2024: $33.4B Q4 2024 Q1 2025: $32.7B Q1 2025 Q2 2025: $40.3B Q2 2025 Q3 2025: $40.2B Q3 2025 Q4 2025: $43.0B $43.0B Q4 2025 Q1 2026: $41.5B Q1 2026 Q2 2026: $50.2B Q2 2026

Holdings 1,547 stocks · $43.0B

NVDA Nvidia Corp. 7.68% 17,698,054 $3.3B Add +3.8%
AAPL Apple Inc. 6.36% 10,064,719 $2.7B Reduce -2.8%
MSFT Microsoft Corp. 5.96% 5,303,320 $2.6B Add +5.7%
AMZN Amazon.com Inc. 4.63% 8,620,258 $2.0B Add +9.2%
GOOGL Alphabet Inc. Class A 3.50% 4,814,157 $1.5B Add +3.1%
TSLA Tesla Inc. 2.60% 2,482,189 $1.1B Add +5.7%
AVGO Broadcom Inc. 2.56% 3,182,390 $1.1B Add +6.3%
META Meta Platforms Inc. Class A 2.46% 1,603,382 $1.1B Reduce -1.1%
GOOG Alphabet Inc. Class C 2.19% 2,994,735 $939.7M Add +7.5%
LLY Eli Lilly & Co. 1.76% 703,564 $756.1M Add +4.8%
JPM JPMorgan Chase & Co. 1.72% 2,293,510 $739.0M Add +3.8%
V Visa Inc. Class A 1.47% 1,804,152 $632.7M Add +8.9%
JNJ Johnson & Johnson 1.02% 2,123,341 $439.4M Add +7.1%
BRK.B Berkshire Hathaway Inc. Class B 0.97% 826,882 $415.6M Add +4.6%
WMT Walmart Inc. 0.77% 2,972,738 $331.2M Add +4.0%
COST Costco Wholesale Corp. 0.67% 334,495 $288.4M Add +14.1%
NFLX Netflix Inc. 0.62% 2,853,728 $267.6M Add +3.7%
ABBV Abbvie Inc. 0.62% 1,169,605 $267.2M Reduce -3.1%
ORCL Oracle Corp. 0.62% 1,368,095 $266.7M Add +24.5%
CRM Salesforce Inc. 0.62% 999,299 $264.7M Add +18.9%
CSCO Cisco Systems Inc. 0.61% 3,431,124 $264.3M Add +0.3%
MA Mastercard Inc. Class A 0.61% 457,980 $261.5M Add +5.9%
WFC Wells Fargo & Co. 0.60% 2,759,944 $257.2M Add +7.3%
PLTR Palantir Technologies Inc. Class A 0.60% 1,442,538 $256.4M Reduce -16.9%
MU Micron Technology Inc. 0.60% 898,366 $256.4M Add +9.1%
KO The Coca-Cola Co. 0.59% 3,615,129 $252.7M Add +5.9%
PG The Procter & Gamble Co. 0.58% 1,730,902 $248.1M Add +5.2%
LIN Linde PLC 0.57% 569,838 $243.0M Add +3.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.54% 4,208,583 $231.5M Reduce -3.4%
UNH Unitedhealth Group Inc. 0.52% 677,228 $223.6M Add +19.7%
GE General Electric filed as GE AEROSPACE 0.51% 708,487 $218.2M Add +12.5%
GS Goldman Sachs Group Inc. 0.48% 236,177 $207.6M Add +5.1%
CB Chubb Ltd. 0.48% 663,505 $207.1M Add +175.5%
LRCX Lam Research Corp. 0.48% 1,194,709 $204.5M Reduce -5.2%
MRK Merck & Co. Inc. 0.46% 1,865,444 $196.4M Reduce -2.1%
AMD Advanced Micro Devices 0.45% 893,817 $191.4M Add +10.1%
HD Home Depot Inc. 0.44% 555,594 $191.2M Add +15.5%
RTX RTX Corp. 0.43% 1,018,280 $186.8M Add +2.3%
APH Amphenol Corp. Class A 0.39% 1,226,625 $165.8M Reduce -0.8%
SCHW Schwab (charles) Corp. 0.39% 1,658,451 $165.7M Add +11.0%
AXP American Express Co. 0.38% 445,807 $164.9M Reduce -3.4%
INTU Intuit Inc. 0.38% 247,157 $163.7M Add +8.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.38% 1,433,252 $163.1M Add +15.4%
TMO Thermo Fisher Scientific Inc. 0.37% 274,191 $158.9M Add +7.9%
KLAC KLA Corp. 0.37% 130,579 $158.7M Reduce -2.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.36% 526,622 $156.0M Add +8.2%
BKNG Booking Holdings Inc. 0.35% 27,916 $149.5M Add +22.6%
ISRG Intuitive Surgical Inc. 0.34% 257,973 $146.1M Add +27.5%
PEP Pepsico Inc. 0.33% 1,002,818 $143.9M Add +8.2%
PANW Palo Alto Networks Inc. 0.33% 778,701 $143.4M Add +4.5%
GILD Gilead Sciences Inc. 0.33% 1,153,108 $141.5M Reduce -3.8%
ADBE Adobe Inc. 0.32% 399,184 $139.7M Add +61.8%
HCA HCA Healthcare Inc. 0.31% 287,954 $134.4M Add +6.2%
MCK McKesson Corp. 0.31% 162,868 $133.6M Reduce -1.3%
UBER Uber Technologies Inc. 0.31% 1,626,051 $132.9M Add +4.8%
MS Morgan Stanley 0.31% 739,230 $131.2M Add +12.9%
NOW ServiceNow Inc. 0.30% 837,701 $128.3M Add +21.4%
VZ Verizon Communications Inc. 0.29% 3,114,545 $126.9M Reduce -15.2%
OKE Oneok Inc. 0.29% 1,691,433 $124.3M Add +3538.4%
C Citigroup Inc. 0.28% 1,035,472 $120.8M Add +6.7%
SPGI S&P Global Inc. 0.27% 225,778 $118.0M Add +8.9%
ACN Accenture PLC Class A 0.27% 438,648 $117.7M Add +11.7%
CAT Caterpillar Inc. 0.27% 204,059 $116.9M Reduce -7.7%
AMAT Applied Materials Inc. 0.27% 449,218 $115.4M Reduce -1.3%
ABT Abbott Laboratories 0.26% 888,432 $111.3M Add +2.2%
NEM Newmont Corp. 0.25% 1,095,852 $109.4M Reduce -7.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.25% 706,152 $108.5M Add +9.6%
MCD McDonald's Corp. 0.25% 353,420 $108.0M Reduce -20.4%
NEE Nextera Energy Inc. 0.25% 1,338,163 $107.4M Add +14.4%
ANET Arista Networks Inc. 0.25% 815,347 $106.8M Add +5.3%
QCOM Qualcomm Inc. 0.25% 624,198 $106.8M Add +5.6%
APP AppLovin Corp. Class A 0.24% 156,002 $105.1M Reduce -3.4%
GM General Motors Co. 0.24% 1,272,142 $103.5M Add +45.0%
GEV GE Vernova Inc. 0.24% 156,236 $102.1M Add +5.5%
ALL Allstate Corp. 0.23% 476,736 $99.2M Add +1.7%
HWM Howmet Aerospace Inc. 0.23% 482,538 $98.9M Add +6.1%
PGR Progressive Corp. 0.23% 429,837 $97.9M Reduce -31.2%
T AT&T Inc. 0.22% 3,848,606 $95.6M Add +9.9%
AMGN Amgen Inc. 0.22% 291,974 $95.6M Reduce -18.5%
DHR Danaher Corp. 0.22% 415,366 $95.1M Add +11.7%
HIG Hartford Insurance Group Inc. 0.22% 683,019 $94.1M Reduce -0.3%
COR Cencora Inc. 0.22% 274,384 $92.7M Reduce -10.3%
COF Capital One Financial Corp. 0.21% 376,710 $91.3M Add +7.5%
TSM Taiwan Semiconductor-SP ADR 0.21% 298,811 $90.8M Reduce -1.0%
SYK Stryker Corp. 0.21% 256,206 $90.0M Add +17.8%
TXN Texas Instruments Inc. 0.21% 513,843 $89.1M Add +7.6%
INTC Intel Corp. 0.21% 2,407,086 $88.8M Add +11.5%
BLK BlackRock Inc. 0.20% 81,337 $87.1M Reduce -9.0%
UNP Union Pacific Corp. 0.20% 371,996 $86.1M Add +10.3%
PH Parker Hannifin Corp. 0.20% 97,606 $85.8M Add +4.5%
TEL Te Connectivity PLC 0.20% 376,999 $85.8M Reduce -3.7%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.20% 738,730 $85.8M Add +22.0%
ADSK Autodesk Inc. 0.20% 288,826 $85.5M Reduce -17.2%
PFE Pfizer Inc. 0.20% 3,419,951 $85.2M Add +7.2%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.20% 5,074,732 $85.0M Add +515.0%
ADI Analog Devices Inc. 0.20% 309,317 $83.9M Add +12.5%
BSX Boston Scientific Corp. 0.19% 865,062 $82.5M Reduce -10.6%
TMUS T-Mobile US Inc. 0.19% 405,073 $82.2M Add +25.6%
MDT Medtronic PLC 0.19% 841,228 $80.8M Add +11.4%
CMI Cummins Inc. 0.18% 154,109 $78.7M Reduce -4.8%

Show all 1,547 holdings

Options reported separately and not counted above: TSLA puts ($329K), HL calls ($221K), PAAS calls ($201K), IMSR calls ($86K), AG calls ($59K), SE calls ($36K), SLS calls ($35K), SEDG calls ($28K), BABA calls ($23K), XERS calls ($18K), ENVX calls ($1K), PYPL calls ($16).

Other holdings (7): bonds, preferreds, convertibles and warrants · $2K (not counted above)
SecurityClassShares / PrincipalValueChange
GME.WS Gamestop Corp. *W EXP 10/30/202 320$963No change
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 39$751No change
OPENW Opendoor Technologies Inc.-26 *W EXP 11/20/202 393$354New
OPENL Opendoor Technologies Inc.-26 *W EXP 11/20/202 393$205New
OPENZ Opendoor Technologies Inc.-26 *W EXP 11/20/202 393$157New
PSNYW Polestar Auto Class C-1 ADS ADS CL C-1 2$13New
DFDVW Defi Development Corp. *W EXP 01/21/202 2$3New

Total filed on the 13F, all lines: $43.0B.

Portfolio Sells Q3 2025 → Q4 2025

META Meta Platforms Inc. Class A Reduce -1.1% 2.46% −0.50
AAPL Apple Inc. Reduce -2.8% 6.36% −0.20
MRVL Marvell Technology Inc. Reduce -54.6% 0.14% −0.19
PLTR Palantir Technologies Inc. Class A Reduce -16.9% 0.60% −0.19
PGR Progressive Corp. Reduce -31.2% 0.23% −0.16
GLNG Golar LNG Ltd. Sold out 0.00% −0.14
ATO Atmos Energy Corp. Reduce -96.0% 0.01% −0.14
VZ Verizon Communications Inc. Reduce -15.2% 0.29% −0.11
CRWD CrowdStrike Holdings Inc. Class A Reduce -33.6% 0.14% −0.10
EBAY eBay Inc. Reduce -52.2% 0.07% −0.09
L Loews Corp. Reduce -96.4% 0.00% −0.09
MCD McDonald's Corp. Reduce -20.4% 0.25% −0.08
TT Trane Technologies PLC Reduce -25.8% 0.14% −0.08
ADSK Autodesk Inc. Reduce -17.2% 0.20% −0.08
TDG Transdigm Group Inc. Reduce -28.0% 0.16% −0.07
ABBV Abbvie Inc. Reduce -3.1% 0.62% −0.07
NTAP Netapp Inc. Reduce -62.8% 0.03% −0.07
LOW Lowe's Cos Inc. Reduce -22.2% 0.15% −0.06
AZO AutoZone Inc. Reduce -32.6% 0.06% −0.06
ZTS Zoetis Inc. Reduce -25.6% 0.09% −0.06
BLK BlackRock Inc. Reduce -9.0% 0.20% −0.06
GEN Gen Digital Inc. Reduce -75.9% 0.01% −0.05
RMD Resmed Inc. Reduce -33.7% 0.06% −0.05
K Kellanova Sold out 0.00% −0.05
KKR KKR & Co. Inc. Reduce -33.8% 0.07% −0.05
CCEP Coca-Cola Europacific Partne Reduce -57.9% 0.03% −0.04
APP AppLovin Corp. Class A Reduce -3.4% 0.24% −0.04
EA Electronic Arts Inc. Reduce -38.2% 0.06% −0.04
WDAY Workday Inc. Class A Reduce -28.4% 0.07% −0.04
URI United Rentals Inc. Reduce -25.4% 0.06% −0.04
BSX Boston Scientific Corp. Reduce -10.6% 0.19% −0.04
VEEV Veeva Systems Inc. Class A Reduce -4.0% 0.09% −0.04
EG Everest Group Ltd. Reduce -41.2% 0.05% −0.04
FFIV F5 Inc. Reduce -36.0% 0.04% −0.04
LRN Stride Inc. Reduce -99.5% 0.00% −0.04
MSI Motorola Solutions Inc. Reduce -2.7% 0.12% −0.04
TPL Texas Pacific Land Corp. Reduce -16.5% 0.09% −0.04
VICI Vici Properties Inc. Reduce -1.1% 0.14% −0.04
NXT Nextpower Inc. Reduce -49.0% 0.05% −0.04
DHI D.R. Horton Inc. Reduce -33.9% 0.04% −0.03
OSK Oshkosh Corp. Reduce -99.4% 0.00% −0.03
PD Pagerduty Inc. Sold out 0.00% −0.03
RCL Royal Caribbean Cruises Ltd. Reduce -8.2% 0.09% −0.03
ITW Illinois Tool Works Reduce -15.9% 0.09% −0.03
KTB Kontoor Brands Inc. Reduce -99.9% 0.00% −0.03
AMGN Amgen Inc. Reduce -18.5% 0.22% −0.03
PATH Uipath Inc. Class A Reduce -83.5% 0.01% −0.03
GNTX Gentex Corp. Reduce -99.5% 0.00% −0.03
MSCI MSCI Inc. Reduce -23.4% 0.07% −0.03
EXLS Exlservice Holdings Inc. Reduce -99.5% 0.00% −0.03

Portfolio Buys Q3 2025 → Q4 2025

GOOGL Alphabet Inc. Class A Add +3.1% 3.50% +0.68
GOOG Alphabet Inc. Class C Add +7.5% 2.19% +0.50
LLY Eli Lilly & Co. Add +4.8% 1.76% +0.49
AMZN Amazon.com Inc. Add +9.2% 4.63% +0.32
CB Chubb Ltd. Add +175.5% 0.48% +0.31
OKE Oneok Inc. Add +3538.4% 0.29% +0.28
MU Micron Technology Inc. Add +9.1% 0.60% +0.25
NU Nu Holdings Ltd./Cayman Isl-A Add +515.0% 0.20% +0.16
BKR Baker Hughes Co. Add +1758.2% 0.17% +0.16
CRM Salesforce Inc. Add +18.9% 0.62% +0.12
AMD Advanced Micro Devices Add +10.1% 0.45% +0.12
ISRG Intuitive Surgical Inc. Add +27.5% 0.34% +0.11
HAL Halliburton Co. Add +1433.1% 0.12% +0.11
DELL Dell Technologies -C Add +200.7% 0.18% +0.11
ADBE Adobe Inc. Add +61.8% 0.32% +0.11
JNJ Johnson & Johnson Add +7.1% 1.02% +0.11
GM General Motors Co. Add +45.0% 0.24% +0.11
AVGO Broadcom Inc. Add +6.3% 2.56% +0.11
REGN Regeneron Pharmaceuticals Add +78.8% 0.18% +0.10
V Visa Inc. Class A Add +8.9% 1.47% +0.06
TMO Thermo Fisher Scientific Inc. Add +7.9% 0.37% +0.06
WFC Wells Fargo & Co. Add +7.3% 0.60% +0.06
UPS United Parcel Service Class B Add +53.9% 0.12% +0.05
WAT Waters Corp. Add +256.7% 0.07% +0.05
OMC Omnicom Group Add +184.6% 0.08% +0.05
SSNC Ss&c Technologies Holdings Add +103.0% 0.11% +0.05
BWA Borgwarner Inc. Add +1314.7% 0.05% +0.05
MS Morgan Stanley Add +12.9% 0.31% +0.05
BDX Becton Dickinson and Co. Add +56.9% 0.13% +0.04
INSM Insmed Inc. Add +4494.1% 0.04% +0.04
BKNG Booking Holdings Inc. Add +22.6% 0.35% +0.04
DHR Danaher Corp. Add +11.7% 0.22% +0.04
GS Goldman Sachs Group Inc. Add +5.1% 0.48% +0.04
WMT Walmart Inc. Add +4.0% 0.77% +0.04
GE General Electric Add +12.5% 0.51% +0.04
C Citigroup Inc. Add +6.7% 0.28% +0.04
BNY Bank of New York Mellon Corp. Add +22.0% 0.20% +0.04
WHD Cactus Inc. Class A Add +1199.5% 0.04% +0.03
UNH Unitedhealth Group Inc. Add +19.7% 0.52% +0.03
CSCO Cisco Systems Inc. Add +0.3% 0.61% +0.03
ACN Accenture PLC Class A Add +11.7% 0.27% +0.03
SCHW Schwab (charles) Corp. Add +11.0% 0.39% +0.03
NEE Nextera Energy Inc. Add +14.4% 0.25% +0.03
TEAM Atlassian Corp. Class A Add +103.6% 0.06% +0.03
CMC Commercial Metals Co. Add +8939.3% 0.03% +0.03
AMP Ameriprise Financial Inc. Add +47.2% 0.10% +0.03
LVS Las Vegas Sands Corp. Add +109.5% 0.05% +0.03
COF Capital One Financial Corp. Add +7.5% 0.21% +0.03
HUM Humana Inc. Add +87.4% 0.06% +0.03
TRV The Travelers Cos Inc. Add +24.4% 0.16% +0.03

Options Activity Q3 2025 → Q4 2025

EWZ iShares MSCI Brazil ETF call Sold out 1,340,000 $3.8Mbefore exit
OPEN Opendoor Technologies Inc. call Sold out 200,000 $538Kbefore exit
MSTR Strategy Inc. call Sold out 40,000 $390Kbefore exit
TSLA Tesla Inc. put Add +888.0% 49,400 $329K
IMSR Terrestrial Energy Inc. call New 370,000 $86K
SE Sea Ltd.-ADR call Reduce -66.7% 400 $36K
SLS Sellas Life Sciences Group I call New 100,000 $35K
EOG EOG Resources Inc. call Sold out 50,000 $20Kbefore exit
COST Costco Wholesale Corp. call Sold out 10,000 $12Kbefore exit
CRCL Circle Internet Group Inc. call Sold out 15,000 $10Kbefore exit
OPEN Opendoor Technologies Inc. put Sold out 100,000 $2Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q3 2025 → Q4 2025

OPENW Opendoor Technologies Inc.-26 *W EXP 11/20/202 New 393 $354
OPENL Opendoor Technologies Inc.-26 *W EXP 11/20/202 New 393 $205
OPENZ Opendoor Technologies Inc.-26 *W EXP 11/20/202 New 393 $157
PSNYW Polestar Auto Class C-1 ADS ADS CL C-1 New 2 $13
DFDVW Defi Development Corp. *W EXP 01/21/202 New 2 $3

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 1,129$50.2BNVDA, AAPL, AMZN, MSFT, GOOGL
Q1 2026 1,161$41.5BNVDA, AAPL, MSFT, AMZN, GOOGL
Q4 2025 1,547$43.0BNVDA, AAPL, MSFT, AMZN, GOOGL
Q3 2025Amended 1,472$40.2BNVDA, AAPL, MSFT, AMZN, META
Q2 2025 1,507$40.3BNVDA, MSFT, AAPL, AMZN, META
Q1 2025 1,362$32.7BAAPL, MSFT, NVDA, AMZN, META
Q4 2024 1,388$33.4BAAPL, NVDA, MSFT, AMZN, META
Q3 2024 1,590$30.0BAAPL, MSFT, NVDA, AMZN, META
Q2 2024 1,119$27.1BMSFT, NVDA, AAPL, AMZN, GOOGL
Q1 2024 1,022$31.9BMSFT, NVDA, AAPL, AMZN, GOOGL