Maj Invest Holding A/S
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 3, 2025), Maj Invest Holding A/S reported 42 stock positions worth $2.9 billion. Its top holding was Alphabet Class A (GOOGL) at 9.2% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 8.8%) and Applied Materials (AMAT, 8.3%). Compared with Q2 2025, it added to 8 and reduced 15. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +34%) and the biggest sale Meta Platforms Class A (META, shares −37%).
- Most Recent 13F
- Q2 2026
- Location
- COPENHAGEN K, G7
- CIK
- 0001730525
- Portfolio Value
- $2.9B (Q3 2025)
- SEC Filing
- 0001730525-25-000012 ↗ filed Nov 3, 2025
Holdings Value
Holdings 42 stocks · $2.9B
| GOOGL Alphabet Inc. Class A | 9.19% | 1,106,526 | $269.0M | Reduce -7.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 8.80% | 512,535 | $257.7M | Add +34.1% |
| AMAT Applied Materials Inc. | 8.29% | 1,184,824 | $242.6M | Reduce -4.7% |
| QCOM Qualcomm Inc. | 7.15% | 1,257,679 | $209.2M | Reduce -5.2% |
| LOW Lowe's Cos Inc. | 6.89% | 802,990 | $201.8M | Add +15.7% |
| CSX CSX Corp. | 6.66% | 5,488,989 | $194.9M | Reduce -17.4% |
| NEM Newmont Corp. | 5.45% | 1,891,220 | $159.4M | Reduce -9.8% |
| HPQ HP Inc. | 5.35% | 5,754,138 | $156.7M | Add +3.8% |
| AXP American Express Co. | 5.29% | 466,239 | $154.9M | Reduce -10.0% |
| AMP Ameriprise Financial Inc. | 4.99% | 297,027 | $145.9M | Reduce -10.1% |
| HCA HCA Healthcare Inc. | 4.93% | 338,510 | $144.3M | Add +6.1% |
| ELV Elevance Health Inc. | 4.38% | 396,776 | $128.2M | Reduce -10.0% |
| UNP Union Pacific Corp. | 4.33% | 535,773 | $126.6M | Add +41.1% |
| CI The Cigna Group | 4.16% | 422,728 | $121.9M | Add +2.4% |
| KR Kroger Co. | 3.76% | 1,632,849 | $110.1M | Reduce -9.4% |
| META Meta Platforms Inc. Class A | 3.28% | 130,689 | $96.0M | Reduce -36.7% |
| UPS United Parcel Service Class B | 2.81% | 986,154 | $82.4M | Add +38.8% |
| AFL Aflac Inc. | 2.20% | 576,447 | $64.4M | Add +1.3% |
| SCI Service Corp. International | 1.68% | 589,615 | $49.1M | Reduce -10.1% |
| B Barrick Mining Corp. | 0.26% | 228,607 | $7.5M | Reduce -11.5% |
| INTC Intel Corp. | 0.07% | 58,914 | $2.0M | Reduce -11.1% |
| V Visa Inc. Class A | 0.01% | 750 | $256K | No change |
| TER Teradyne Inc. | 0.01% | 1,630 | $224K | No change |
| MU Micron Technology Inc. | 0.01% | 1,000 | $167K | No change |
| SONY Sony Group Corp. - SP ADR | 0.01% | 5,500 | $158K | No change |
| LMT Lockheed Martin Corp. | 0.01% | 315 | $157K | No change |
| JNJ Johnson & Johnson | 0.01% | 800 | $148K | No change |
| GS Goldman Sachs Group Inc. | 0.00% | 180 | $143K | Reduce -99.8% |
| ROK Rockwell Automation Inc. | 0.00% | 400 | $140K | No change |
| GD General Dynamics Corp. | 0.00% | 400 | $136K | No change |
| USB US Bancorp | 0.00% | 2,500 | $121K | No change |
| TXN Texas Instruments Inc. | 0.00% | 650 | $119K | No change |
| BIDU Baidu Inc. - Spon ADR | 0.00% | 850 | $112K | No change |
| NOC Northrop Grumman Corp. | 0.00% | 180 | $110K | No change |
| PFE Pfizer Inc. | 0.00% | 4,000 | $102K | No change |
| PKG Packaging Corp. of America | 0.00% | 404 | $88K | Reduce -1.2% |
| MCO Moody's Corp. | 0.00% | 180 | $86K | No change |
| RUN Sunrun Inc. | 0.00% | 4,700 | $81K | No change |
| TMO Thermo Fisher Scientific Inc. | 0.00% | 160 | $78K | No change |
| JKS Jinkosolar Holding Co.-ADR | 0.00% | 3,200 | $77K | No change |
| UNH Unitedhealth Group Inc. | 0.00% | 222 | $77K | No change |
| MRNA Moderna Inc. | 0.00% | 990 | $26K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| META Meta Platforms Inc. Class A | Reduce -36.7% | 3.28% | −2.06 |
| GS Goldman Sachs Group Inc. | Reduce -99.8% | 0.00% | −2.03 |
| ELV Elevance Health Inc. | Reduce -10.0% | 4.38% | −1.62 |
| AMP Ameriprise Financial Inc. | Reduce -10.1% | 4.99% | −1.19 |
| CSX CSX Corp. | Reduce -17.4% | 6.66% | −0.93 |
| KR Kroger Co. | Reduce -9.4% | 3.76% | −0.76 |
| AXP American Express Co. | Reduce -10.0% | 5.29% | −0.50 |
| QCOM Qualcomm Inc. | Reduce -5.2% | 7.15% | −0.25 |
| SCI Service Corp. International | Reduce -10.1% | 1.68% | −0.19 |
| PKG Packaging Corp. of America | Reduce -1.2% | 0.00% | +0.00 |
| INTC Intel Corp. | Reduce -11.1% | 0.07% | +0.02 |
| B Barrick Mining Corp. | Reduce -11.5% | 0.26% | +0.07 |
| AMAT Applied Materials Inc. | Reduce -4.7% | 8.29% | +0.32 |
| NEM Newmont Corp. | Reduce -9.8% | 5.45% | +1.17 |
| GOOGL Alphabet Inc. Class A | Reduce -7.0% | 9.19% | +1.85 |
Portfolio Buys Q2 2025 → Q3 2025
| BRK.B Berkshire Hathaway Inc. Class B | Add +34.1% | 8.80% | +2.30 |
| LOW Lowe's Cos Inc. | Add +15.7% | 6.89% | +1.50 |
| UNP Union Pacific Corp. | Add +41.1% | 4.33% | +1.27 |
| HCA HCA Healthcare Inc. | Add +6.1% | 4.93% | +0.65 |
| HPQ HP Inc. | Add +3.8% | 5.35% | +0.61 |
| UPS United Parcel Service Class B | Add +38.8% | 2.81% | +0.30 |
| AFL Aflac Inc. | Add +1.3% | 2.20% | +0.10 |
| CI The Cigna Group | Add +2.4% | 4.16% | −0.61 |
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 |