Maj Invest Holding A/S
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 6, 2026), Maj Invest Holding A/S reported 38 stock positions worth $2.1 billion. Its top holding was Berkshire Hathaway Class B (BRK.B) at 8.7% of the portfolio, followed by Qualcomm (QCOM, 7.8%) and Applied Materials (AMAT, 7.3%). Compared with Q3 2025, it sold out of 4, added to 6 and reduced 20. The biggest buy was United Parcel Service Class B (UPS, shares +11%) and the biggest sale Alphabet Class A (GOOGL, shares −66%).
- Most Recent 13F
- Q2 2026
- Location
- COPENHAGEN K, G7
- CIK
- 0001730525
- Portfolio Value
- $2.1B (Q4 2025)
- SEC Filing
- 0001730525-26-000002 ↗ filed Feb 6, 2026
Holdings Value
Holdings 38 stocks · $2.1B
| BRK.B Berkshire Hathaway Inc. Class B | 8.69% | 371,585 | $186.8M | Reduce -27.5% |
| QCOM Qualcomm Inc. | 7.82% | 982,643 | $168.1M | Reduce -21.9% |
| AMAT Applied Materials Inc. | 7.27% | 607,843 | $156.2M | Reduce -48.7% |
| AMP Ameriprise Financial Inc. | 6.83% | 299,416 | $146.8M | Add +0.8% |
| CSX CSX Corp. | 6.07% | 3,601,449 | $130.6M | Reduce -34.4% |
| LOW Lowe's Cos Inc. | 5.95% | 530,538 | $127.9M | Reduce -33.9% |
| UNP Union Pacific Corp. | 5.84% | 542,865 | $125.6M | Add +1.3% |
| GOOGL Alphabet Inc. Class A | 5.53% | 379,855 | $118.9M | Reduce -65.7% |
| AXP American Express Co. | 5.35% | 311,080 | $115.1M | Reduce -33.3% |
| HPQ HP Inc. | 5.12% | 4,939,374 | $110.1M | Reduce -14.2% |
| CI The Cigna Group | 5.04% | 393,502 | $108.3M | Reduce -6.9% |
| UPS United Parcel Service Class B | 5.03% | 1,090,951 | $108.2M | Add +10.6% |
| META Meta Platforms Inc. Class A | 4.90% | 159,708 | $105.4M | Add +22.2% |
| KR Kroger Co. | 4.43% | 1,524,265 | $95.2M | Reduce -6.7% |
| ELV Elevance Health Inc. | 4.27% | 262,039 | $91.9M | Reduce -34.0% |
| HCA HCA Healthcare Inc. | 3.79% | 174,594 | $81.5M | Reduce -48.4% |
| NEM Newmont Corp. | 3.72% | 800,450 | $79.9M | Reduce -57.7% |
| AFL Aflac Inc. | 2.87% | 559,634 | $61.7M | Reduce -2.9% |
| SCI Service Corp. International | 1.37% | 377,579 | $29.4M | Reduce -36.0% |
| V Visa Inc. Class A | 0.01% | 750 | $263K | No change |
| LMT Lockheed Martin Corp. | 0.01% | 315 | $153K | No change |
| SONY Sony Group Corp. - SP ADR | 0.01% | 5,500 | $141K | No change |
| GD General Dynamics Corp. | 0.01% | 400 | $135K | No change |
| USB US Bancorp | 0.01% | 2,500 | $133K | No change |
| MCO Moody's Corp. | 0.01% | 245 | $125K | Add +36.1% |
| TXN Texas Instruments Inc. | 0.01% | 650 | $113K | No change |
| BIDU Baidu Inc. - Spon ADR | 0.01% | 850 | $111K | No change |
| NOC Northrop Grumman Corp. | 0.00% | 180 | $103K | No change |
| UNH Unitedhealth Group Inc. | 0.00% | 307 | $101K | Add +38.3% |
| PFE Pfizer Inc. | 0.00% | 4,000 | $100K | No change |
| JNJ Johnson & Johnson | 0.00% | 470 | $97K | Reduce -41.3% |
| ROK Rockwell Automation Inc. | 0.00% | 240 | $93K | Reduce -40.0% |
| TMO Thermo Fisher Scientific Inc. | 0.00% | 160 | $93K | No change |
| GS Goldman Sachs Group Inc. | 0.00% | 100 | $88K | Reduce -44.4% |
| JKS Jinkosolar Holding Co.-ADR | 0.00% | 3,200 | $83K | No change |
| INTC Intel Corp. | 0.00% | 2,000 | $74K | Reduce -96.6% |
| PKG Packaging Corp. of America | 0.00% | 200 | $41K | Reduce -50.5% |
| MRNA Moderna Inc. | 0.00% | 990 | $29K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| GOOGL Alphabet Inc. Class A | Reduce -65.7% | 5.53% | −3.66 |
| NEM Newmont Corp. | Reduce -57.7% | 3.72% | −1.73 |
| HCA HCA Healthcare Inc. | Reduce -48.4% | 3.79% | −1.14 |
| AMAT Applied Materials Inc. | Reduce -48.7% | 7.27% | −1.02 |
| LOW Lowe's Cos Inc. | Reduce -33.9% | 5.95% | −0.94 |
| CSX CSX Corp. | Reduce -34.4% | 6.07% | −0.59 |
| SCI Service Corp. International | Reduce -36.0% | 1.37% | −0.31 |
| B Barrick Mining Corp. | Sold out | 0.00% | −0.26 |
| HPQ HP Inc. | Reduce -14.2% | 5.12% | −0.23 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -27.5% | 8.69% | −0.11 |
| ELV Elevance Health Inc. | Reduce -34.0% | 4.27% | −0.11 |
| INTC Intel Corp. | Reduce -96.6% | 0.00% | −0.06 |
| TER Teradyne Inc. | Sold out | 0.00% | −0.01 |
| MU Micron Technology Inc. | Sold out | 0.00% | −0.01 |
| RUN Sunrun Inc. | Sold out | 0.00% | −0.00 |
| PKG Packaging Corp. of America | Reduce -50.5% | 0.00% | −0.00 |
| GS Goldman Sachs Group Inc. | Reduce -44.4% | 0.00% | −0.00 |
| JNJ Johnson & Johnson | Reduce -41.3% | 0.00% | −0.00 |
| ROK Rockwell Automation Inc. | Reduce -40.0% | 0.00% | −0.00 |
| AXP American Express Co. | Reduce -33.3% | 5.35% | +0.06 |
| KR Kroger Co. | Reduce -6.7% | 4.43% | +0.67 |
| AFL Aflac Inc. | Reduce -2.9% | 2.87% | +0.67 |
| QCOM Qualcomm Inc. | Reduce -21.9% | 7.82% | +0.67 |
| CI The Cigna Group | Reduce -6.9% | 5.04% | +0.88 |
Portfolio Buys Q3 2025 → Q4 2025
| UPS United Parcel Service Class B | Add +10.6% | 5.03% | +2.22 |
| AMP Ameriprise Financial Inc. | Add +0.8% | 6.83% | +1.84 |
| META Meta Platforms Inc. Class A | Add +22.2% | 4.90% | +1.63 |
| UNP Union Pacific Corp. | Add +1.3% | 5.84% | +1.51 |
| MCO Moody's Corp. | Add +36.1% | 0.01% | +0.00 |
| UNH Unitedhealth Group Inc. | Add +38.3% | 0.00% | +0.00 |
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 |