PFA Pension, Forsikringsaktieselskab

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 12, 2026), PFA Pension, Forsikringsaktieselskab reported 419 stock positions worth $39.4 billion. Its top holding was Nvidia (NVDA) at 7.2% of the portfolio, followed by Apple (AAPL, 6.5%) and Microsoft (MSFT, 4.1%). Compared with Q1 2026, it opened 60 new positions, sold out of 24, added to 169 and reduced 187. The biggest buy was Micron Technology (MU, shares +7%) and the biggest sale Procter & Gamble (PG, shares −49%).

Most Recent 13F
Q2 2026
Location
COPENHAGEN, G7
CIK
0001730073
Portfolio Value
$39.4B (Q2 2026)
SEC Filing
0001730073-26-000009 ↗ filed Aug 12, 2026

Holdings Value

0$10.0B$20.0B$30.0B$40.0B Q4 2025: $35.3B Q4 2025 Q1 2026: $33.2B Q1 2026 Q2 2026: $39.4B $39.4B Q2 2026

Holdings 419 stocks · $39.4B
NVDA Nvidia Corp. 7.23% 14,230,364 $2.8B Add +0.0%
AAPL Apple Inc. 6.54% 8,905,195 $2.6B Add +3.2%
MSFT Microsoft Corp. 4.09% 4,320,933 $1.6B Add +4.9%
AMZN Amazon.com Inc. 3.25% 5,373,533 $1.3B Reduce -0.0%
GOOGL Alphabet Inc. Class A 3.23% 3,565,619 $1.3B Add +2.1%
AVGO Broadcom Inc. 2.65% 2,764,447 $1.0B Add +3.2%
GOOG Alphabet Inc. Class C 2.57% 2,860,469 $1.0B Add +3.3%
MU Micron Technology Inc. 1.97% 671,006 $774.5M Add +7.4%
META Meta Platforms Inc. Class A 1.88% 1,315,407 $741.0M Add +7.8%
TSLA Tesla Inc. 1.76% 1,649,953 $694.0M Add +0.3%
AMD Advanced Micro Devices 1.47% 999,509 $580.6M Add +2.4%
LLY Eli Lilly & Co. 1.47% 483,132 $579.5M Add +4.3%
JPM JPMorgan Chase & Co. 1.29% 1,548,625 $506.9M Add +5.5%
AMAT Applied Materials Inc. 1.03% 561,108 $405.7M Add +14.2%
JNJ Johnson & Johnson 1.02% 1,589,422 $403.7M Add +5.7%
LRCX Lam Research Corp. 1.02% 926,200 $401.4M Reduce -5.7%
INTC Intel Corp. 0.91% 2,576,450 $359.7M Add +0.7%
V Visa Inc. Class A 0.90% 1,038,666 $356.4M Add +6.0%
CSCO Cisco Systems Inc. 0.89% 2,987,798 $350.9M Add +12.1%
BRK.B Berkshire Hathaway Inc. Class B 0.86% 677,815 $339.2M Reduce -0.3%
WMT Walmart Inc. 0.77% 2,682,606 $303.8M Add +7.0%
ABBV Abbvie Inc. 0.75% 1,176,312 $296.0M Add +7.5%
KLAC KLA Corp. 0.72% 943,968 $284.8M Reduce -1.1%
MA Mastercard Inc. Class A 0.72% 553,758 $284.4M Add +10.2%
COST Costco Wholesale Corp. 0.62% 262,499 $245.6M Add +8.1%
GE General Electric filed as GE AEROSPACE 0.62% 650,047 $242.9M Reduce -0.0%
BAC Bank of America Corp. 0.56% 3,870,171 $220.5M Reduce -0.1%
UNH Unitedhealth Group Inc. 0.51% 486,515 $202.2M Add +2.9%
GS Goldman Sachs Group Inc. 0.50% 194,037 $196.2M Add +2.1%
GEV GE Vernova Inc. 0.48% 160,026 $188.0M Reduce -2.8%
NFLX Netflix Inc. 0.47% 2,584,761 $184.6M Add +8.7%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.46% 649,499 $182.6M Add +11.0%
LIN Linde PLC 0.46% 348,745 $181.0M Reduce -12.1%
MRVL Marvell Technology Inc. 0.45% 592,359 $176.5M Add +11.6%
HD Home Depot Inc. 0.45% 497,542 $175.5M Reduce -0.0%
TXN Texas Instruments Inc. 0.44% 584,338 $174.2M Add +21.9%
MRK Merck & Co. Inc. 0.44% 1,341,298 $172.4M Reduce -8.6%
WDC Western Digital Corp. 0.43% 264,071 $168.7M Reduce -17.1%
PLTR Palantir Technologies Inc. Class A 0.39% 1,301,018 $151.8M Add +6.0%
AXP American Express Co. 0.38% 447,278 $151.3M Add +3.1%
STX Seagate Technology Holdings 0.38% 153,812 $148.4M Reduce -1.8%
MS Morgan Stanley 0.37% 704,213 $147.2M Add +8.9%
ED Consolidated Edison Inc. 0.37% 1,325,484 $146.6M Add +7.2%
VZ Verizon Communications Inc. 0.37% 3,460,311 $146.5M Add +14.0%
ORCL Oracle Corp. 0.37% 998,810 $146.4M Add +1.7%
C Citigroup Inc. 0.37% 1,043,363 $146.0M Reduce -13.6%
APH Amphenol Corp. Class A 0.37% 827,452 $145.9M Add +4.6%
CB Chubb Ltd. 0.35% 405,315 $138.1M Add +62.1%
T AT&T Inc. 0.35% 6,658,986 $137.8M Add +25.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.34% 1,386,158 $133.4M Add +1.4%
AMGN Amgen Inc. 0.34% 368,066 $133.3M Add +9.5%
AME Ametek Inc. 0.34% 548,962 $132.8M Add +101.5%
PNC PNC Financial Services Group 0.33% 527,691 $129.9M Reduce -3.2%
ADI Analog Devices Inc. 0.33% 326,563 $129.7M Add +8.5%
PEP Pepsico Inc. 0.33% 953,082 $129.0M Add +15.4%
GLW Corning Inc. 0.33% 503,729 $128.7M Reduce -1.8%
SCHW Schwab (charles) Corp. 0.32% 1,385,802 $127.9M Add +23.9%
BMY Bristol-Myers Squibb Co. 0.31% 2,114,367 $121.8M Add +32.5%
BKR Baker Hughes Co. 0.31% 2,194,527 $121.8M Reduce -14.9%
ANET Arista Networks Inc. 0.31% 714,095 $121.3M Add +10.5%
GILD Gilead Sciences Inc. 0.30% 948,298 $119.8M Add +15.0%
QCOM Qualcomm Inc. 0.30% 643,052 $118.8M Reduce -7.0%
ECL Ecolab Inc. 0.30% 425,245 $118.5M Reduce -0.8%
DELL Dell Technologies -C 0.30% 272,473 $117.6M Reduce -11.2%
WFC Wells Fargo & Co. 0.30% 1,408,144 $116.4M Reduce -23.5%
PH Parker Hannifin Corp. 0.29% 116,915 $114.4M Reduce -0.1%
TRV The Travelers Cos Inc. 0.29% 340,863 $112.5M Add +31.2%
KO The Coca-Cola Co. 0.28% 1,373,789 $111.6M Reduce -42.1%
EXC Exelon Corp. 0.28% 2,324,269 $108.4M Reduce -12.7%
CRM Salesforce Inc. 0.27% 686,293 $107.5M Add +24.5%
BAP Credicorp Ltd. 0.27% 275,797 $107.4M Reduce -10.9%
FLEX Flex Ltd. 0.27% 648,096 $105.0M Add +46.1%
HAL Halliburton Co. 0.27% 3,076,122 $104.4M Reduce -9.7%
CRWD CrowdStrike Holdings Inc. Class A 0.26% 135,455 $103.4M Add +0.0%
NEE Nextera Energy Inc. 0.26% 1,168,197 $102.5M Reduce -10.5%
MCD McDonald's Corp. 0.25% 367,327 $99.3M Reduce -2.9%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.25% 3,729,214 $99.0M Add +19.2%
ALL Allstate Corp. 0.25% 413,099 $98.3M Add +19.7%
PGR Progressive Corp. 0.25% 448,662 $98.0M Add +1.3%
ADP Automatic Data Processing 0.25% 437,471 $98.0M Reduce -12.4%
PG The Procter & Gamble Co. 0.25% 667,198 $97.8M Reduce -49.5%
ATO Atmos Energy Corp. 0.25% 565,963 $97.5M Reduce -15.3%
ROK Rockwell Automation Inc. 0.24% 194,994 $96.5M Add +61.6%
ITW Illinois Tool Works 0.24% 353,261 $95.5M Add +1345.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.24% 629,581 $95.4M Reduce -0.2%
CMS CMS Energy Corp. 0.24% 1,241,557 $95.0M New
UNP Union Pacific Corp. 0.24% 347,033 $94.4M Reduce -22.3%
BKNG Booking Holdings Inc. 0.24% 526,868 $93.9M Add +8.9%
DE Deere & Co. 0.24% 147,882 $93.8M Reduce -7.6%
NI Nisource Inc. 0.23% 1,928,014 $91.7M Reduce -19.7%
NEM Newmont Corp. 0.23% 975,308 $91.1M Add +4.4%
USB US Bancorp 0.23% 1,502,308 $90.7M New
FTNT Fortinet Inc. 0.23% 588,212 $90.4M Add +8.3%
ETN Eaton Corp. PLC 0.23% 211,233 $90.0M Reduce -30.8%
COF Capital One Financial Corp. 0.22% 437,502 $87.8M Reduce -18.9%
CINF Cincinnati Financial Corp. 0.22% 464,077 $85.9M Add +133.8%
CMI Cummins Inc. 0.22% 120,158 $85.7M Reduce -33.1%
BNY Bank of New York Mellon Corp. 0.22% 589,392 $85.2M Reduce -27.4%
UBER Uber Technologies Inc. 0.21% 1,172,023 $84.6M Reduce -0.1%
ISRG Intuitive Surgical Inc. 0.21% 206,969 $82.3M Add +7.0%

Show all 419 holdings

Portfolio Sells Q1 2026 → Q2 2026
PG The Procter & Gamble Co. Reduce -49.5% 0.25% −0.33
PLD Prologis Inc. Reduce -99.5% 0.00% −0.30
HLT Hilton Worldwide Holdings Inc. Reduce -99.7% 0.00% −0.27
KO The Coca-Cola Co. Reduce -42.1% 0.28% −0.26
RSG Republic Services Inc. Reduce -99.3% 0.00% −0.25
PKG Packaging Corp. of America Reduce -99.9% 0.00% −0.23
MDLZ Mondelez International Inc. Class A Reduce -99.3% 0.00% −0.21
PCAR Paccar Inc. Reduce -99.3% 0.00% −0.19
HON Honeywell International Inc. Reduce -0.1% 0.13% −0.19
RS Reliance Inc. Reduce -99.7% 0.00% −0.18
PANW Palo Alto Networks Inc. Reduce -99.0% 0.00% −0.17
DHR Danaher Corp. Reduce -99.3% 0.00% −0.17
REG Regency Centers Corp. Reduce -90.8% 0.02% −0.17
BKR Baker Hughes Co. Reduce -14.9% 0.31% −0.16
MET Metlife Inc. Reduce -81.5% 0.04% −0.16
WM Waste Management Inc. Reduce -37.6% 0.17% −0.16
WRB WR Berkley Corp. Reduce -99.7% 0.00% −0.16
EQIX Equinix Inc. Reduce -51.7% 0.11% −0.15
WFC Wells Fargo & Co. Reduce -23.5% 0.30% −0.15
EMN Eastman Chemical Co. Sold out 0.00% −0.14
KMB Kimberly-Clark Corp. Sold out 0.00% −0.14
TAP Molson Coors Beverage Co. Class B Sold out 0.00% −0.13
HAL Halliburton Co. Reduce -9.7% 0.27% −0.13
CTVA Corteva Inc. Reduce -37.4% 0.15% −0.13
TMO Thermo Fisher Scientific Inc. Reduce -31.2% 0.19% −0.13
LIN Linde PLC Reduce -12.1% 0.46% −0.13
SYK Stryker Corp. Reduce -38.0% 0.13% −0.13
OTIS Otis Worldwide Corp. Reduce -99.5% 0.00% −0.13
WAB Wabtec Corp. Reduce -37.3% 0.17% −0.12
RPRX Royalty Pharma PLC Class A Reduce -76.6% 0.04% −0.12
ATO Atmos Energy Corp. Reduce -15.3% 0.25% −0.12
SEIC Sei Investments Company Sold out 0.00% −0.12
LOW Lowe's Cos Inc. Reduce -40.9% 0.10% −0.12
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.3% 0.86% −0.12
EXC Exelon Corp. Reduce -12.7% 0.28% −0.12
BLK BlackRock Inc. Reduce -37.5% 0.13% −0.12
CBRE CBRE Group Inc. Class A Reduce -59.3% 0.06% −0.12
AMZN Amazon.com Inc. Reduce -0.0% 3.25% −0.12
HWM Howmet Aerospace Inc. Reduce -39.0% 0.17% −0.11
PHM Pultegroup Inc. Reduce -93.7% 0.01% −0.11
EQH Equitable Holdings Inc. Sold out 0.00% −0.11
BRO Brown & Brown Inc. Reduce -99.6% 0.00% −0.11
TT Trane Technologies PLC Reduce -51.1% 0.10% −0.11
CTSH Cognizant Tech Solutions-A Reduce -29.4% 0.07% −0.11
ABT Abbott Laboratories Reduce -16.9% 0.18% −0.11
BG Bunge Global SA Reduce -99.3% 0.00% −0.11
NEE Nextera Energy Inc. Reduce -10.5% 0.26% −0.10
NI Nisource Inc. Reduce -19.7% 0.23% −0.10
VRSN Verisign Inc. Reduce -99.6% 0.00% −0.10
LPLA LPL Financial Holdings Inc. Reduce -99.5% 0.00% −0.10

Portfolio Buys Q1 2026 → Q2 2026
MU Micron Technology Inc. Add +7.4% 1.97% +1.33
AMD Advanced Micro Devices Add +2.4% 1.47% +0.88
INTC Intel Corp. Add +0.7% 0.91% +0.57
AMAT Applied Materials Inc. Add +14.2% 1.03% +0.52
MRVL Marvell Technology Inc. Add +11.6% 0.45% +0.29
CSCO Cisco Systems Inc. Add +12.1% 0.89% +0.27
CMS CMS Energy Corp. New 0.24% +0.24
USB US Bancorp New 0.23% +0.23
ITW Illinois Tool Works Add +1345.1% 0.24% +0.22
GOOGL Alphabet Inc. Class A Add +2.1% 3.23% +0.21
CFG Citizens Financial Group New 0.20% +0.20
ETR Entergy Corp. New 0.19% +0.19
RF Regions Financial Corp. New 0.19% +0.19
LLY Eli Lilly & Co. Add +4.3% 1.47% +0.19
STT State Street Corp. New 0.19% +0.19
HIG Hartford Insurance Group Inc. Add +4053.4% 0.19% +0.19
FLEX Flex Ltd. Add +46.1% 0.27% +0.18
GOOG Alphabet Inc. Class C Add +3.3% 2.57% +0.17
KIM Kimco Realty Corp. Add +744.8% 0.20% +0.17
NDSN Nordson Corp. New 0.17% +0.17
TXN Texas Instruments Inc. Add +21.9% 0.44% +0.16
AME Ametek Inc. Add +101.5% 0.34% +0.16
AVGO Broadcom Inc. Add +3.2% 2.65% +0.16
O Realty Income Corp. New 0.15% +0.15
MKL Markel Group Inc. New 0.15% +0.15
ROST Ross Stores Inc. Add +820.8% 0.16% +0.14
GWW WW Grainger Inc. Add +2304.8% 0.14% +0.14
KEY Keycorp New 0.14% +0.14
EMR Emerson Electric Co. New 0.13% +0.13
FTV Fortive Corp. New 0.13% +0.13
TDY Teledyne Technologies Inc. New 0.13% +0.13
GLPI Gaming and Leisure Propertie New 0.13% +0.13
UNH Unitedhealth Group Inc. Add +2.9% 0.51% +0.13
CW Curtiss-Wright Corp. New 0.13% +0.13
CINF Cincinnati Financial Corp. Add +133.8% 0.22% +0.12
BE Bloom Energy Corp. Class A New 0.12% +0.12
WELL Welltower Inc. Add +549.3% 0.15% +0.12
MTB M & T Bank Corp. Add +237.6% 0.18% +0.12
CIEN Ciena Corp. New 0.12% +0.12
BDX Becton Dickinson and Co. New 0.12% +0.12
NDAQ Nasdaq Inc. New 0.12% +0.12
AON Aon PLC Class A Add +2043.9% 0.12% +0.12
TFC Truist Financial Corp. New 0.12% +0.12
ROK Rockwell Automation Inc. Add +61.6% 0.24% +0.11
KEYS Keysight Technologies Inc. New 0.11% +0.11
KDP Keurig Dr Pepper Inc. New 0.11% +0.11
DGX Quest Diagnostics Inc. New 0.11% +0.11
ALAB Astera Labs Inc. New 0.11% +0.11
JBHT Hunt (jb) Transprt SVCS Inc. New 0.11% +0.11
MAR Marriott International Class A New 0.11% +0.11

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 419$39.4BNVDA, AAPL, MSFT, AMZN, GOOGL
Q1 2026 381$33.2BNVDA, AAPL, MSFT, AMZN, GOOGL
Q4 2025 373$35.3BNVDA, AAPL, MSFT, AMZN, GOOGL