Formuepleje A/S
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed August 27, 2026), Formuepleje A/S reported 52 stock positions worth $1.7 billion. Its top holding was Microsoft (MSFT) at 8.1% of the portfolio, followed by Nvidia (NVDA, 6.8%) and Thermo Fisher Scientific (TMO, 5.3%). Compared with Q3 2025, it opened 4 new positions, sold out of 2, added to 16 and reduced 31. The biggest buy was a new position in Cummins (CMI) and the biggest sale an exit from Oracle (ORCL).
- Most Recent 13F
- Q2 2026
- Location
- AARHUS C, G7
- CIK
- 0001801212
- Portfolio Value
- $1.7B (Q4 2025)
- SEC Filing
- 0001172661-26-004097 ↗ filed Aug 27, 2026
Holdings Value
Holdings 52 stocks · $1.7B
| MSFT Microsoft Corp. | 8.14% | 281,650 | $136.2M | Add +8.3% |
| NVDA Nvidia Corp. | 6.82% | 612,043 | $114.1M | Reduce -9.1% |
| TMO Thermo Fisher Scientific Inc. | 5.30% | 153,003 | $88.7M | Reduce -18.0% |
| V Visa Inc. Class A | 4.98% | 237,710 | $83.4M | Add +11.2% |
| TSM Taiwan Semiconductor-SP ADR | 4.95% | 272,819 | $82.9M | Reduce -10.5% |
| SPGI S&P Global Inc. | 4.95% | 158,626 | $82.9M | Add +15.1% |
| AMZN Amazon.com Inc. | 4.72% | 342,650 | $79.1M | Add +8.5% |
| CSL Carlisle Cos Inc. | 4.25% | 222,354 | $71.1M | Add +18.9% |
| GOOGL Alphabet Inc. Class A | 4.10% | 219,540 | $68.7M | Reduce -30.4% |
| MA Mastercard Inc. Class A | 3.90% | 114,344 | $65.3M | Reduce -5.7% |
| IBN Icici Bank Ltd.-Spon ADR | 3.73% | 2,096,722 | $62.5M | Reduce -10.2% |
| HDB HDFC Bank Ltd.-ADR | 2.73% | 1,253,071 | $45.8M | Reduce -13.9% |
| AOS Smith (a.o.) Corp. | 2.28% | 569,905 | $38.1M | Add +5.3% |
| CRM Salesforce Inc. | 2.19% | 138,104 | $36.6M | Reduce -6.3% |
| CARR Carrier Global Corp. | 2.18% | 690,048 | $36.5M | Reduce -9.5% |
| CMI Cummins Inc. | 2.15% | 70,566 | $36.0M | New |
| UNH Unitedhealth Group Inc. | 2.12% | 107,528 | $35.5M | Reduce -9.6% |
| ADP Automatic Data Processing | 2.10% | 136,784 | $35.2M | Add +25.7% |
| UBER Uber Technologies Inc. | 1.93% | 395,579 | $32.3M | Reduce -2.1% |
| BSX Boston Scientific Corp. | 1.92% | 336,452 | $32.1M | Reduce -1.8% |
| AZO AutoZone Inc. | 1.82% | 8,996 | $30.5M | Add +2.0% |
| EBAY eBay Inc. | 1.57% | 300,847 | $26.2M | Add +5.6% |
| XYL Xylem Inc. | 1.53% | 188,372 | $25.7M | Reduce -11.2% |
| POOL Pool Corp. | 1.49% | 108,785 | $24.9M | Reduce -2.1% |
| HUBB Hubbell Inc. | 1.48% | 55,947 | $24.8M | Reduce -12.0% |
| ISRG Intuitive Surgical Inc. | 1.43% | 42,339 | $24.0M | Reduce -10.4% |
| CFR Cullen/Frost Bankers Inc. | 1.20% | 158,326 | $20.0M | Reduce -14.2% |
| CDNS Cadence Design SYS Inc. | 1.19% | 63,594 | $19.9M | Reduce -4.8% |
| CTAS Cintas Corp. | 1.18% | 105,422 | $19.8M | Add +0.2% |
| TYL Tyler Technologies Inc. | 1.16% | 42,678 | $19.4M | New |
| RNR Renaissancere Holdings Ltd. | 1.11% | 66,236 | $18.6M | Reduce -35.2% |
| MRSH Marsh & McLennan Cos | 1.10% | 99,144 | $18.4M | Reduce -6.2% |
| CFG Citizens Financial Group | 1.06% | 304,307 | $17.8M | New |
| ZTS Zoetis Inc. | 1.02% | 135,600 | $17.1M | Add +0.7% |
| DHR Danaher Corp. | 0.96% | 70,538 | $16.1M | Reduce -20.1% |
| AMAT Applied Materials Inc. | 0.90% | 58,814 | $15.1M | Reduce -38.4% |
| MRVL Marvell Technology Inc. | 0.90% | 176,811 | $15.0M | Add +12.5% |
| NOW ServiceNow Inc. | 0.84% | 91,604 | $14.0M | Add +0.2% |
| URI United Rentals Inc. | 0.47% | 9,660 | $7.8M | Reduce -13.5% |
| A Agilent Technologies Inc. | 0.42% | 51,682 | $7.0M | Reduce -5.2% |
| WM Waste Management Inc. | 0.24% | 18,062 | $4.0M | Reduce -14.7% |
| APH Amphenol Corp. Class A | 0.23% | 27,908 | $3.8M | Reduce -1.0% |
| SNPS Synopsys Inc. | 0.20% | 7,140 | $3.4M | Reduce -0.0% |
| VLTO Veralto Corp. | 0.17% | 29,096 | $2.9M | Reduce -10.6% |
| IEX Idex Corp. | 0.15% | 14,499 | $2.6M | Add +2.6% |
| RSG Republic Services Inc. | 0.15% | 11,487 | $2.4M | Reduce -15.3% |
| ADSK Autodesk Inc. | 0.11% | 6,052 | $1.8M | No change |
| TXN Texas Instruments Inc. | 0.11% | 10,141 | $1.8M | Reduce -3.6% |
| ITRI Itron Inc. | 0.10% | 18,830 | $1.7M | Add +0.6% |
| WAT Waters Corp. | 0.10% | 4,532 | $1.7M | Reduce -10.8% |
| FERG Ferguson Enterprises Inc. | 0.10% | 9,651 | $1.6M | Add +13.8% |
| AAON Aaon Inc. | 0.08% | 18,428 | $1.4M | New |
Portfolio Sells Q3 2025 → Q4 2025
| ORCL Oracle Corp. | Sold out | 0.00% | −4.24 |
| PCTY Paylocity Holding Corp. | Sold out | 0.00% | −1.66 |
| POOL Pool Corp. | Reduce -2.1% | 1.49% | −0.46 |
| CARR Carrier Global Corp. | Reduce -9.5% | 2.18% | −0.39 |
| RNR Renaissancere Holdings Ltd. | Reduce -35.2% | 1.11% | −0.35 |
| UBER Uber Technologies Inc. | Reduce -2.1% | 1.93% | −0.30 |
| NVDA Nvidia Corp. | Reduce -9.1% | 6.82% | −0.27 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -10.2% | 3.73% | −0.25 |
| XYL Xylem Inc. | Reduce -11.2% | 1.53% | −0.23 |
| GOOGL Alphabet Inc. Class A | Reduce -30.4% | 4.10% | −0.22 |
| AMAT Applied Materials Inc. | Reduce -38.4% | 0.90% | −0.20 |
| UNH Unitedhealth Group Inc. | Reduce -9.6% | 2.12% | −0.20 |
| CDNS Cadence Design SYS Inc. | Reduce -4.8% | 1.19% | −0.14 |
| URI United Rentals Inc. | Reduce -13.5% | 0.47% | −0.14 |
| CFR Cullen/Frost Bankers Inc. | Reduce -14.2% | 1.20% | −0.12 |
| MRSH Marsh & McLennan Cos | Reduce -6.2% | 1.10% | −0.10 |
| HDB HDFC Bank Ltd.-ADR | Reduce -13.9% | 2.73% | −0.07 |
| HUBB Hubbell Inc. | Reduce -12.0% | 1.48% | −0.06 |
| RSG Republic Services Inc. | Reduce -15.3% | 0.15% | −0.03 |
| WM Waste Management Inc. | Reduce -14.7% | 0.24% | −0.03 |
| DHR Danaher Corp. | Reduce -20.1% | 0.96% | −0.02 |
| VLTO Veralto Corp. | Reduce -10.6% | 0.17% | −0.02 |
| TXN Texas Instruments Inc. | Reduce -3.6% | 0.11% | −0.00 |
| SNPS Synopsys Inc. | Reduce -0.0% | 0.20% | +0.00 |
| MA Mastercard Inc. Class A | Reduce -5.7% | 3.90% | +0.01 |
| WAT Waters Corp. | Reduce -10.8% | 0.10% | +0.02 |
| A Agilent Technologies Inc. | Reduce -5.2% | 0.42% | +0.03 |
| BSX Boston Scientific Corp. | Reduce -1.8% | 1.92% | +0.03 |
| APH Amphenol Corp. Class A | Reduce -1.0% | 0.23% | +0.03 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -10.5% | 4.95% | +0.14 |
| TMO Thermo Fisher Scientific Inc. | Reduce -18.0% | 5.30% | +0.19 |
| CRM Salesforce Inc. | Reduce -6.3% | 2.19% | +0.21 |
| ISRG Intuitive Surgical Inc. | Reduce -10.4% | 1.43% | +0.24 |
Portfolio Buys Q3 2025 → Q4 2025
| CMI Cummins Inc. | New | 2.15% | +2.15 |
| SPGI S&P Global Inc. | Add +15.1% | 4.95% | +1.17 |
| TYL Tyler Technologies Inc. | New | 1.16% | +1.16 |
| CFG Citizens Financial Group | New | 1.06% | +1.06 |
| V Visa Inc. Class A | Add +11.2% | 4.98% | +0.86 |
| AMZN Amazon.com Inc. | Add +8.5% | 4.72% | +0.81 |
| CSL Carlisle Cos Inc. | Add +18.9% | 4.25% | +0.77 |
| MSFT Microsoft Corp. | Add +8.3% | 8.14% | +0.53 |
| ADP Automatic Data Processing | Add +25.7% | 2.10% | +0.30 |
| MRVL Marvell Technology Inc. | Add +12.5% | 0.90% | +0.15 |
| EBAY eBay Inc. | Add +5.6% | 1.57% | +0.10 |
| AAON Aaon Inc. | New | 0.08% | +0.08 |
| AOS Smith (a.o.) Corp. | Add +5.3% | 2.28% | +0.03 |
| IEX Idex Corp. | Add +2.6% | 0.15% | +0.02 |
| FERG Ferguson Enterprises Inc. | Add +13.8% | 0.10% | +0.02 |
| ITRI Itron Inc. | Add +0.6% | 0.10% | −0.03 |
| CTAS Cintas Corp. | Add +0.2% | 1.18% | −0.04 |
| ZTS Zoetis Inc. | Add +0.7% | 1.02% | −0.09 |
| NOW ServiceNow Inc. | Add +0.2% | 0.84% | −0.11 |
| AZO AutoZone Inc. | Add +2.0% | 1.82% | −0.31 |
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 |