Maj Invest Holding A/S
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 29, 2025), Maj Invest Holding A/S reported 45 stock positions worth $2.8 billion. Its top holding was Elevance Health (ELV) at 7.0% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 6.9%) and Alphabet Class A (GOOGL, 6.7%). Compared with Q4 2024, it opened 6 new positions, sold out of 1 and reduced 23. The biggest buy was a new position in Applied Materials (AMAT) and the biggest sale an exit from Fiserv (FISV).
- Most Recent 13F
- Q2 2026
- Location
- COPENHAGEN K, G7
- CIK
- 0001730525
- Portfolio Value
- $2.8B (Q1 2025)
- SEC Filing
- 0001730525-25-000003 ↗ filed Apr 29, 2025
Holdings Value
Holdings 45 stocks · $2.8B
| ELV Elevance Health Inc. | 7.01% | 446,209 | $194.1M | Reduce -4.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 6.94% | 360,658 | $192.1M | Reduce -5.3% |
| GOOGL Alphabet Inc. Class A | 6.71% | 1,201,252 | $185.8M | Reduce -5.5% |
| QCOM Qualcomm Inc. | 6.17% | 1,111,883 | $170.8M | Reduce -5.5% |
| LOW Lowe's Cos Inc. | 5.93% | 703,551 | $164.1M | Reduce -5.3% |
| AMP Ameriprise Financial Inc. | 5.83% | 333,109 | $161.3M | Reduce -5.4% |
| CI The Cigna Group | 5.67% | 476,469 | $156.8M | Reduce -5.5% |
| KR Kroger Co. | 5.21% | 2,128,230 | $144.1M | Reduce -5.1% |
| CSX CSX Corp. | 4.95% | 4,651,550 | $136.9M | Reduce -3.2% |
| NEM Newmont Corp. | 4.83% | 2,767,581 | $133.6M | Reduce -5.5% |
| HPQ HP Inc. | 4.79% | 4,781,754 | $132.4M | Reduce -5.5% |
| UNP Union Pacific Corp. | 4.78% | 560,026 | $132.3M | Reduce -5.1% |
| AMAT Applied Materials Inc. | 4.58% | 872,691 | $126.6M | New |
| META Meta Platforms Inc. Class A | 4.34% | 208,257 | $120.0M | Reduce -5.5% |
| AXP American Express Co. | 4.28% | 440,221 | $118.4M | Reduce -5.7% |
| HCA HCA Healthcare Inc. | 3.97% | 317,826 | $109.8M | New |
| AZO AutoZone Inc. | 3.47% | 25,217 | $96.1M | Reduce -55.0% |
| GS Goldman Sachs Group Inc. | 2.98% | 150,704 | $82.3M | Reduce -5.1% |
| UPS United Parcel Service Class B | 2.84% | 713,607 | $78.5M | Reduce -4.8% |
| AFL Aflac Inc. | 2.34% | 582,876 | $64.8M | Reduce -6.0% |
| SCI Service Corp. International | 1.94% | 667,893 | $53.6M | Reduce -5.3% |
| B Barrick Gold Corp. | 0.32% | 449,139 | $8.7M | Reduce -3.4% |
| INTC Intel Corp. | 0.07% | 80,954 | $1.8M | Reduce -3.3% |
| V Visa Inc. Class A | 0.01% | 750 | $263K | No change |
| LMT Lockheed Martin Corp. | 0.01% | 315 | $141K | New |
| SONY Sony Group Corp. - SP ADR | 0.01% | 5,500 | $140K | No change |
| TER Teradyne Inc. | 0.00% | 1,630 | $134K | No change |
| JNJ Johnson & Johnson | 0.00% | 800 | $133K | Reduce -99.9% |
| TXN Texas Instruments Inc. | 0.00% | 650 | $117K | No change |
| UNH Unitedhealth Group Inc. | 0.00% | 222 | $116K | No change |
| GD General Dynamics Corp. | 0.00% | 400 | $109K | New |
| USB US Bancorp | 0.00% | 2,500 | $106K | No change |
| ROK Rockwell Automation Inc. | 0.00% | 400 | $103K | No change |
| PFE Pfizer Inc. | 0.00% | 4,000 | $101K | No change |
| NOC Northrop Grumman Corp. | 0.00% | 180 | $92K | New |
| MU Micron Technology Inc. | 0.00% | 1,000 | $87K | New |
| MCO Moody's Corp. | 0.00% | 180 | $84K | No change |
| PKG Packaging Corp. of America | 0.00% | 409 | $81K | Reduce -99.9% |
| TMO Thermo Fisher Scientific Inc. | 0.00% | 160 | $80K | No change |
| BIDU Baidu Inc. - Spon ADR | 0.00% | 850 | $78K | No change |
| JKS Jinkosolar Holding Co.-ADR | 0.00% | 3,200 | $60K | No change |
| CVS CVS Health Corp. | 0.00% | 540 | $37K | No change |
| MRNA Moderna Inc. | 0.00% | 990 | $28K | No change |
| RUN Sunrun Inc. | 0.00% | 4,700 | $28K | No change |
| BBWI Bath & Body Works Inc. | 0.00% | 479 | $15K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| FISV Fiserv Inc. | Sold out | 0.00% | −4.46 |
| JNJ Johnson & Johnson | Reduce -99.9% | 0.00% | −3.22 |
| AZO AutoZone Inc. | Reduce -55.0% | 3.47% | −2.42 |
| PKG Packaging Corp. of America | Reduce -99.9% | 0.00% | −2.23 |
| GOOGL Alphabet Inc. Class A | Reduce -5.5% | 6.71% | −1.20 |
| HPQ HP Inc. | Reduce -5.5% | 4.79% | −0.64 |
| AMP Ameriprise Financial Inc. | Reduce -5.4% | 5.83% | −0.34 |
| AXP American Express Co. | Reduce -5.7% | 4.28% | −0.28 |
| UPS United Parcel Service Class B | Reduce -4.8% | 2.84% | −0.27 |
| CSX CSX Corp. | Reduce -3.2% | 4.95% | −0.15 |
| LOW Lowe's Cos Inc. | Reduce -5.3% | 5.93% | −0.10 |
| GS Goldman Sachs Group Inc. | Reduce -5.1% | 2.98% | −0.02 |
| INTC Intel Corp. | Reduce -3.3% | 0.07% | +0.01 |
| B Barrick Gold Corp. | Reduce -3.4% | 0.32% | +0.08 |
| SCI Service Corp. International | Reduce -5.3% | 1.94% | +0.09 |
| META Meta Platforms Inc. Class A | Reduce -5.5% | 4.34% | +0.09 |
| QCOM Qualcomm Inc. | Reduce -5.5% | 6.17% | +0.23 |
| AFL Aflac Inc. | Reduce -6.0% | 2.34% | +0.23 |
| UNP Union Pacific Corp. | Reduce -5.1% | 4.78% | +0.36 |
| KR Kroger Co. | Reduce -5.1% | 5.21% | +0.70 |
| CI The Cigna Group | Reduce -5.5% | 5.67% | +1.09 |
| NEM Newmont Corp. | Reduce -5.5% | 4.83% | +1.24 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -5.3% | 6.94% | +1.27 |
| ELV Elevance Health Inc. | Reduce -4.0% | 7.01% | +1.37 |
Portfolio Buys Q4 2024 → Q1 2025
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 |