Formuepleje A/S
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed August 27, 2026), Formuepleje A/S reported 50 stock positions worth $1.8 billion. Its top holding was Microsoft (MSFT) at 7.6% of the portfolio, followed by Nvidia (NVDA, 7.1%) and Thermo Fisher Scientific (TMO, 5.1%). Compared with Q2 2025, it opened 3 new positions, sold out of 10, added to 19 and reduced 28. The biggest buy was Taiwan Semiconductor-SP ADR (TSM, shares +59%) and the biggest sale an exit from Fiserv (FISV).
- Most Recent 13F
- Q2 2026
- Location
- AARHUS C, G7
- CIK
- 0001801212
- Portfolio Value
- $1.8B (Q3 2025)
- SEC Filing
- 0001172661-26-004096 ↗ filed Aug 27, 2026
Holdings Value
Holdings 50 stocks · $1.8B
| MSFT Microsoft Corp. | 7.61% | 260,163 | $134.8M | Reduce -15.3% |
| NVDA Nvidia Corp. | 7.09% | 673,077 | $125.6M | Reduce -24.3% |
| TMO Thermo Fisher Scientific Inc. | 5.11% | 186,553 | $90.5M | Reduce -2.1% |
| TSM Taiwan Semiconductor-SP ADR | 4.81% | 304,864 | $85.1M | Add +58.8% |
| GOOGL Alphabet Inc. Class A | 4.33% | 315,184 | $76.6M | Reduce -21.9% |
| ORCL Oracle Corp. | 4.24% | 267,110 | $75.1M | Reduce -39.6% |
| V Visa Inc. Class A | 4.12% | 213,754 | $73.0M | Reduce -22.1% |
| IBN Icici Bank Ltd.-Spon ADR | 3.98% | 2,333,999 | $70.6M | Add +3.4% |
| AMZN Amazon.com Inc. | 3.91% | 315,688 | $69.3M | Add +77.4% |
| MA Mastercard Inc. Class A | 3.89% | 121,255 | $69.0M | Reduce -8.2% |
| SPGI S&P Global Inc. | 3.79% | 137,767 | $67.1M | Add +106.6% |
| CSL Carlisle Cos Inc. | 3.47% | 187,029 | $61.5M | Reduce -5.7% |
| HDB HDFC Bank Ltd.-ADR | 2.81% | 1,454,964 | $49.7M | Reduce -47.1% |
| CARR Carrier Global Corp. | 2.57% | 762,174 | $45.5M | Add +44.7% |
| UNH Unitedhealth Group Inc. | 2.32% | 118,961 | $41.1M | Reduce -12.7% |
| AOS Smith (a.o.) Corp. | 2.24% | 541,174 | $39.7M | Add +1963.5% |
| UBER Uber Technologies Inc. | 2.24% | 404,175 | $39.6M | Reduce -11.1% |
| AZO AutoZone Inc. | 2.14% | 8,815 | $37.8M | Reduce -53.8% |
| CRM Salesforce Inc. | 1.97% | 147,364 | $34.9M | New |
| POOL Pool Corp. | 1.94% | 111,101 | $34.4M | Add +11.3% |
| BSX Boston Scientific Corp. | 1.89% | 342,537 | $33.4M | Reduce -10.4% |
| ADP Automatic Data Processing | 1.80% | 108,813 | $31.9M | Reduce -2.1% |
| XYL Xylem Inc. | 1.77% | 212,005 | $31.3M | Add +1.8% |
| PCTY Paylocity Holding Corp. | 1.66% | 185,067 | $29.5M | Add +7.5% |
| HUBB Hubbell Inc. | 1.54% | 63,575 | $27.4M | Reduce -13.4% |
| RNR Renaissancere Holdings Ltd. | 1.47% | 102,208 | $26.0M | Add +0.6% |
| EBAY eBay Inc. | 1.46% | 284,972 | $25.9M | Add +65.7% |
| CDNS Cadence Design SYS Inc. | 1.32% | 66,813 | $23.5M | Reduce -18.1% |
| CFR Cullen/Frost Bankers Inc. | 1.32% | 184,463 | $23.4M | Add +166.8% |
| CTAS Cintas Corp. | 1.22% | 105,224 | $21.6M | Add +11.6% |
| MRSH Marsh & McLennan Cos | 1.20% | 105,657 | $21.3M | Reduce -14.4% |
| ISRG Intuitive Surgical Inc. | 1.19% | 47,249 | $21.1M | Add +37.7% |
| ZTS Zoetis Inc. | 1.11% | 134,622 | $19.7M | New |
| AMAT Applied Materials Inc. | 1.10% | 95,446 | $19.5M | Reduce -27.4% |
| DHR Danaher Corp. | 0.99% | 88,268 | $17.5M | Add +6.8% |
| NOW ServiceNow Inc. | 0.95% | 18,283 | $16.8M | Add +77.0% |
| MRVL Marvell Technology Inc. | 0.75% | 157,162 | $13.2M | Reduce -21.4% |
| URI United Rentals Inc. | 0.60% | 11,168 | $10.7M | Reduce -15.4% |
| A Agilent Technologies Inc. | 0.40% | 54,509 | $7.0M | Add +7.5% |
| WM Waste Management Inc. | 0.26% | 21,185 | $4.7M | Reduce -20.5% |
| SNPS Synopsys Inc. | 0.20% | 7,141 | $3.5M | Reduce -9.2% |
| APH Amphenol Corp. Class A | 0.20% | 28,182 | $3.5M | Reduce -31.9% |
| VLTO Veralto Corp. | 0.20% | 32,537 | $3.5M | Add +25.4% |
| RSG Republic Services Inc. | 0.18% | 13,558 | $3.1M | Add +12.0% |
| ITRI Itron Inc. | 0.13% | 18,721 | $2.3M | New |
| IEX Idex Corp. | 0.13% | 14,136 | $2.3M | Reduce -6.6% |
| TXN Texas Instruments Inc. | 0.11% | 10,520 | $1.9M | Reduce -47.5% |
| ADSK Autodesk Inc. | 0.11% | 6,052 | $1.9M | Reduce -36.8% |
| WAT Waters Corp. | 0.09% | 5,078 | $1.5M | Reduce -30.4% |
| FERG Ferguson Enterprises Inc. | 0.08% | 8,477 | $1.4M | Reduce -37.4% |
Portfolio Sells Q2 2025 → Q3 2025
| FISV Fiserv Inc. | Sold out | 0.00% | −3.91 |
| HDB HDFC Bank Ltd.-ADR | Reduce -47.1% | 2.81% | −2.40 |
| AZO AutoZone Inc. | Reduce -53.8% | 2.14% | −2.01 |
| SCI Service Corp. International | Sold out | 0.00% | −2.00 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −1.86 |
| UNH Unitedhealth Group Inc. | Reduce -12.7% | 2.32% | −1.75 |
| V Visa Inc. Class A | Reduce -22.1% | 4.12% | −1.37 |
| ADI Analog Devices Inc. | Sold out | 0.00% | −1.32 |
| VOYA Voya Financial Inc. | Sold out | 0.00% | −0.72 |
| COO The Cooper Cos Inc. | Sold out | 0.00% | −0.62 |
| MRSH Marsh & McLennan Cos | Reduce -14.4% | 1.20% | −0.52 |
| CSL Carlisle Cos Inc. | Reduce -5.7% | 3.47% | −0.38 |
| BSX Boston Scientific Corp. | Reduce -10.4% | 1.89% | −0.31 |
| TMO Thermo Fisher Scientific Inc. | Reduce -2.1% | 5.11% | −0.30 |
| MA Mastercard Inc. Class A | Reduce -8.2% | 3.89% | −0.23 |
| UNP Union Pacific Corp. | Sold out | 0.00% | −0.20 |
| MTD Mettler-Toledo International | Sold out | 0.00% | −0.20 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.18 |
| ADP Automatic Data Processing | Reduce -2.1% | 1.80% | −0.13 |
| TXN Texas Instruments Inc. | Reduce -47.5% | 0.11% | −0.10 |
| WM Waste Management Inc. | Reduce -20.5% | 0.26% | −0.09 |
| WAT Waters Corp. | Reduce -30.4% | 0.09% | −0.07 |
| ADSK Autodesk Inc. | Reduce -36.8% | 0.11% | −0.03 |
| IEX Idex Corp. | Reduce -6.6% | 0.13% | −0.03 |
| FERG Ferguson Enterprises Inc. | Reduce -37.4% | 0.08% | −0.01 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −0.01 |
| SNPS Synopsys Inc. | Reduce -9.2% | 0.20% | +0.01 |
| AMAT Applied Materials Inc. | Reduce -27.4% | 1.10% | +0.02 |
| APH Amphenol Corp. Class A | Reduce -31.9% | 0.20% | +0.04 |
| MRVL Marvell Technology Inc. | Reduce -21.4% | 0.75% | +0.04 |
| URI United Rentals Inc. | Reduce -15.4% | 0.60% | +0.13 |
| CDNS Cadence Design SYS Inc. | Reduce -18.1% | 1.32% | +0.14 |
| HUBB Hubbell Inc. | Reduce -13.4% | 1.54% | +0.16 |
| UBER Uber Technologies Inc. | Reduce -11.1% | 2.24% | +0.35 |
| ORCL Oracle Corp. | Reduce -39.6% | 4.24% | +0.72 |
| GOOGL Alphabet Inc. Class A | Reduce -21.9% | 4.33% | +0.77 |
| MSFT Microsoft Corp. | Reduce -15.3% | 7.61% | +1.03 |
| NVDA Nvidia Corp. | Reduce -24.3% | 7.09% | +1.60 |
Portfolio Buys Q2 2025 → Q3 2025
| TSM Taiwan Semiconductor-SP ADR | Add +58.8% | 4.81% | +2.99 |
| AOS Smith (a.o.) Corp. | Add +1963.5% | 2.24% | +2.15 |
| AMZN Amazon.com Inc. | Add +77.4% | 3.91% | +1.98 |
| CRM Salesforce Inc. | New | 1.97% | +1.97 |
| SPGI S&P Global Inc. | Add +106.6% | 3.79% | +1.85 |
| ZTS Zoetis Inc. | New | 1.11% | +1.11 |
| CFR Cullen/Frost Bankers Inc. | Add +166.8% | 1.32% | +0.83 |
| EBAY eBay Inc. | Add +65.7% | 1.46% | +0.80 |
| CARR Carrier Global Corp. | Add +44.7% | 2.57% | +0.67 |
| NOW ServiceNow Inc. | Add +77.0% | 0.95% | +0.48 |
| XYL Xylem Inc. | Add +1.8% | 1.77% | +0.35 |
| ISRG Intuitive Surgical Inc. | Add +37.7% | 1.19% | +0.22 |
| POOL Pool Corp. | Add +11.3% | 1.94% | +0.13 |
| ITRI Itron Inc. | New | 0.13% | +0.13 |
| CTAS Cintas Corp. | Add +11.6% | 1.22% | +0.11 |
| RNR Renaissancere Holdings Ltd. | Add +0.6% | 1.47% | +0.08 |
| A Agilent Technologies Inc. | Add +7.5% | 0.40% | +0.06 |
| VLTO Veralto Corp. | Add +25.4% | 0.20% | +0.05 |
| DHR Danaher Corp. | Add +6.8% | 0.99% | +0.02 |
| RSG Republic Services Inc. | Add +12.0% | 0.18% | +0.01 |
| IBN Icici Bank Ltd.-Spon ADR | Add +3.4% | 3.98% | −0.07 |
| PCTY Paylocity Holding Corp. | Add +7.5% | 1.66% | −0.18 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 96 | $1.3B | NVDA, GOOGL, TSM, IBN, MA |
| Q1 2026 | 65 | $1.1B | NVDA, MSFT, MA, TMO, GOOGL |
| Q4 2025 | 52 | $1.7B | MSFT, NVDA, TMO, V, TSM |
| Q3 2025 | 50 | $1.8B | MSFT, NVDA, TMO, TSM, GOOGL |
| Q2 2025 | 57 | $1.8B | MSFT, NVDA, V, TMO, HDB |
| Q1 2025 | 57 | $1.8B | MSFT, NVDA, V, TMO, HDB |
| Q4 2024 | 56 | $1.9B | MSFT, NVDA, TMO, V, GOOGL |
| Q3 2024 | 56 | $2.0B | MSFT, NVDA, TMO, V, CARR |
| Q2 2024 | 56 | $1.8B | MSFT, TMO, NVDA, V, MA |
| Q1 2024 | 91 | $1.8B | MSFT, TMO, V, NVDA, MA |