In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 9, 2026), Maj Invest Holding A/S reported 38 stock positions worth $2.2 billion . Its top holding was Qualcomm (QCOM) at 8.8% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 8.3% ) and Meta Platforms Class A (META, 7.8% ). Compared with Q1 2026, it added to 6 and reduced 18. The biggest buy was American Express (AXP, shares +20% ) and the biggest sale Zoetis (ZTS, shares −12% ).
Location COPENHAGEN K, G7
CIK 0001730525
Portfolio Value $2.2B (Q2 2026) Holdings 38 stocks · $2.2B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2026 QCOM Qualcomm Inc. 1,049,807 $194.0M Reduce -24.6% BRK.B Berkshire Hathaway Inc. Class B 364,813 $182.5M Reduce -12.6% META Meta Platforms Inc. Class A 302,931 $170.6M Add +18.4% HPQ HP Inc. 7,474,697 $164.0M Reduce -11.6% AMAT Applied Materials Inc. 176,751 $127.8M Reduce -57.8% AXP American Express Co. 375,514 $127.0M Add +19.5% CI The Cigna Group 443,993 $122.4M Add +13.6% AMP Ameriprise Financial Inc. 262,966 $120.6M Reduce -11.7% CSX CSX Corp. 2,526,725 $120.1M Reduce -29.6% GOOGL Alphabet Inc. Class A 329,595 $117.8M Reduce -11.7% UPS United Parcel Service Class B 969,545 $104.2M Reduce -11.7% LOW Lowe's Cos Inc. 465,406 $102.6M Reduce -11.7% KR Kroger Co. 1,780,542 $98.9M Add +17.5% UNP Union Pacific Corp. 349,171 $95.0M Reduce -33.3% HCA HCA Healthcare Inc. 232,486 $90.6M Add +34.8% ELV Elevance Health Inc. 229,987 $88.9M Reduce -11.6% AFL Aflac Inc. 513,359 $60.2M Reduce -10.6% ZTS Zoetis Inc. 596,697 $42.9M Reduce -11.6% NEM Newmont Corp. 447,920 $41.8M Reduce -6.6% SCI Service Corp. International 331,276 $25.2M Reduce -11.6% INTC Intel Corp. 1,150 $161K Reduce -42.5% LMT Lockheed Martin Corp. 315 $160K No change V Visa Inc. Class A 450 $154K Reduce -40.0% USB US Bancorp 2,500 $151K No change GD General Dynamics Corp. 400 $142K No change UNH Unitedhealth Group Inc. 307 $128K No change JNJ Johnson & Johnson 470 $119K No change ROK Rockwell Automation Inc. 240 $119K No change TXN Texas Instruments Inc. 375 $112K Reduce -42.3% MCO Moody's Corp. 245 $111K No change SONY Sony Group Corp. - SP ADR 5,500 $110K No change MRNA Moderna Inc. 1,490 $104K Add +50.5% GS Goldman Sachs Group Inc. 100 $101K No change BIDU Baidu Inc. - Spon ADR 850 $97K No change PFE Pfizer Inc. 4,000 $96K No change NOC Northrop Grumman Corp. 180 $92K No change TMO Thermo Fisher Scientific Inc. 160 $80K No change JKS Jinkosolar Holding Co.-ADR 3,200 $54K No change
Portfolio Sells Q1 2026 → Q2 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▲ ZTS Zoetis Inc. Reduce -11.6% 1.95% −1.56 UNP Union Pacific Corp. Reduce -33.3% 4.32% −1.27 CSX CSX Corp. Reduce -29.6% 5.46% −1.02 LOW Lowe's Cos Inc. Reduce -11.7% 4.67% −0.81 BRK.B Berkshire Hathaway Inc. Class B Reduce -12.6% 8.30% −0.50 AMAT Applied Materials Inc. Reduce -57.8% 5.81% −0.49 NEM Newmont Corp. Reduce -6.6% 1.90% −0.38 AMP Ameriprise Financial Inc. Reduce -11.7% 5.49% −0.34 SCI Service Corp. International Reduce -11.6% 1.14% −0.22 AFL Aflac Inc. Reduce -10.6% 2.74% −0.04 UPS United Parcel Service Class B Reduce -11.7% 4.74% −0.02 V Visa Inc. Class A Reduce -40.0% 0.01% −0.00 TXN Texas Instruments Inc. Reduce -42.3% 0.01% −0.00 INTC Intel Corp. Reduce -42.5% 0.01% +0.00 HPQ HP Inc. Reduce -11.6% 7.46% +0.30 GOOGL Alphabet Inc. Class A Reduce -11.7% 5.36% +0.63 ELV Elevance Health Inc. Reduce -11.6% 4.04% +0.69 QCOM Qualcomm Inc. Reduce -24.6% 8.82% +0.93
Portfolio Buys Q1 2026 → Q2 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▼ AXP American Express Co. Add +19.5% 5.78% +1.59 META Meta Platforms Inc. Class A Add +18.4% 7.76% +1.32 CI The Cigna Group Add +13.6% 5.57% +0.98 HCA HCA Healthcare Inc. Add +34.8% 4.12% +0.53 MRNA Moderna Inc. Add +50.5% 0.00% +0.00 KR Kroger Co. Add +17.5% 4.50% −0.33
Notes & Other Activity Q1 2026 → Q2 2026 Security Class Change vs Q1 2026 Shares / Principal Value ▼ BABA Alibaba Group Holding-SP ADR SPONSORED ADS New 0 $0 TSM Taiwan Semiconductor-SP ADR SPONSORED ADS 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 38 $2.2B QCOM, BRK.B, META, HPQ, AMAT Q1 2026 38 $2.3B BRK.B, QCOM, HPQ, CSX, META Q4 2025 38 $2.1B BRK.B, QCOM, AMAT, AMP, CSX Q3 2025 42 $2.9B GOOGL, BRK.B, AMAT, QCOM, LOW Q2 2025 42 $2.9B AMAT, CSX, QCOM, GOOGL, BRK.B Q1 2025 45 $2.8B ELV, BRK.B, GOOGL, QCOM, LOW Q4 2024 40 $3.0B GOOGL, AMP, LOW, QCOM, AZO Q3 2024 39 $3.8B GOOGL, LOW, QCOM, AXP, AZO Q2 2024 37 $3.6B GOOGL, AXP, GS, KR, HPQ Q1 2024 36 $3.7B CI, GS, GOOGL, AXP, CSX