SEC 13F Intelligence

Managers / Q1 2020 · view latest →

Maj Invest Holding A/S

CIK 0001730525 · GAMMELTORV 18, COPENHAGEN K, 1457 · 0045 3338 7300

Reported Value
$2.2B
Q1 2020
Positions
35
Filings on Record
32
2019–present window
Filed
Apr 28, 2020
original filing

Summary

Maj Invest Holding A/S reported $2.2B in U.S.-listed holdings across 35 positions for Q1 2020.

Its largest position, AFL, represents 8.9% of the portfolio.

Compared with Q4 2019, the fund opened 8 new positions and exited 0.

Portfolio Metrics

Turnover
+16.3%
vs prior filed quarter
Top-10 Concentration
+65.9%
share of reported value
Largest Position
+8.9%
Aflac

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $2.0BQ4 ’18Q1 ’19: $2.2BQ2 ’19: $2.2BQ3 ’19: $2.5BQ4 ’19: $3.1BQ4 ’19Q1 ’20: $2.2BQ2 ’20: $2.4BQ3 ’20: $2.7BQ4 ’20: $4.7BQ4 ’20Q1 ’21: $5.8BQ2 ’21: $6.1BQ3 ’21: $5.5BQ4 ’21: $6.2BQ4 ’21Q1 ’22: $5.4BQ2 ’22: $4.4BQ3 ’22: $3.7BQ4 ’22: $3.8BQ4 ’22Q1 ’23: $3.8BQ2 ’23: $4.0BQ3 ’23: $3.7BQ4 ’23: $3.4BQ4 ’23Q1 ’24: $3.7BQ2 ’24: $3.6BQ3 ’24: $3.8BQ4 ’24: $3.0BQ4 ’24Q1 ’25: $2.8BQ2 ’25: $2.9BQ3 ’25: $2.9BQ4 ’25: $2.1BQ4 ’25Q1 ’26: $2.3BQ2 ’26: $2.2Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 100.0%
  • Common Stock · 100.0% · $2.2B

Quarter-over-Quarter Changes full breakdown →

vs Q4 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AXPAMERICAN EXPRESS CONEW+1.44M1.44M+$123M$123M
USBUS BANCORP DELNEW+2.92M2.92M+$101M$101M
PGRPROGRESSIVE CORP OHIONEW+829.1K829.1K+$61M$61M
LOWLOWES COS INCNEW+543.1K543.1K+$47M$47M
CCLCARNIVAL CORPNEW+3.08M3.08M+$41M$41M
RHIROBERT HALF INTL INCNEW+1.04M1.04M+$39M$39M
TSCOTRACTOR SUPPLY CONEW+296.0K296.0K+$25M$25M
NKENIKE INCNEW+1.1K1.1K+$91,000$91,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2020

35 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AFLAFLAC INChistory →COM8.90%$197M5.74M
2INTCINTEL CORPhistory →COM7.87%$174M3.21M
3GSGOLDMAN SACHS GROUP INChistory →COM7.86%$174M1.12M
4PHPARKER HANNIFIN CORPhistory →COM7.60%$168M1.29M
5UNPUNION PAC CORPhistory →COM6.78%$150M1.06M
6UNHUNITEDHEALTH GROUP INChistory →COM5.85%$129M518.4K
7AXPAMERICAN EXPRESS COhistory →COM5.58%$123M1.44M
8AZOAUTOZONE INChistory →COM5.45%$120M142.4K
9GNTXGENTEX CORPhistory →COM5.04%$111M5.03M
10PKGPACKAGING CORP AMERhistory →COM4.92%$109M1.25M
11CNICANADIAN NATL RY COhistory →COM4.72%$104M1.35M
12USBUS BANCORP DELhistory →COM NEW4.55%$101M2.92M
13CHRWC H ROBINSON WORLDWIDE INChistory →COM NEW3.80%$84M1.27M
14LUVSOUTHWEST AIRLS COhistory →COM3.23%$71M2.00M
15GMGENERAL MTRS COhistory →COM3.21%$71M3.42M
16PGRPROGRESSIVE CORP OHIOhistory →COM2.77%$61M829.1K
17ORLYO REILLY AUTOMOTIVE INC NEWhistory →COM2.67%$59M195.9K
18TAT&T INChistory →COM2.26%$50M1.71M
19LOWLOWES COS INChistory →COM2.12%$47M543.1K
20CCLCARNIVAL CORPhistory →UNIT 99/99/99991.84%$41M3.08M
21RHIROBERT HALF INTL INChistory →COM1.77%$39M1.04M
22TSCOTRACTOR SUPPLY COhistory →COM1.13%$25M296.0K
23KSSKOHLS CORPCOM0.02%$518,00035.6K
24IAC INTERACTIVECORPCOM0.01%$124,000690
25CVSCVS HEALTH CORPCOM0.00%$101,0001.7K
26NKENIKE INCCL B0.00%$91,0001.1K
27GOOGLALPHABET INCCAP STK CL A0.00%$88,00076
28AIGAMERICAN INTL GROUP INCCOM NEW0.00%$82,0003.4K
29BIIBBIOGEN INCCOM0.00%$79,000250
30METAFACEBOOK INCCL A0.00%$71,000428
31UTXZUNITED TECHNOLOGIES CORPCOM0.00%$63,000670
32OCOWENS CORNING NEWCOM0.00%$62,0001.6K
33RUNSUNRUN INCCOM0.00%$53,0005.2K
34TENNECO INCCL A VTG COM STK0.00%$33,0009.2K
35LBEURL BRANDS INCCOM0.00%$6,000479

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q2 2026$2.2B40Jul 9, 202613F-HRchanges · EDGAR ↗
Q1 2026$2.3B38May 1, 202613F-HRchanges · EDGAR ↗
Q4 2025$2.1B38Feb 6, 202613F-HRchanges · EDGAR ↗
Q3 2025$2.9B42Nov 3, 202513F-HRchanges · EDGAR ↗
Q2 2025$2.9B42Jul 30, 202513F-HRchanges · EDGAR ↗
Q1 2025$2.8B45Apr 29, 202513F-HRchanges · EDGAR ↗
Q4 2024$3.0B40Jan 22, 202513F-HRchanges · EDGAR ↗
Q3 2024$3.8B39Oct 10, 202413F-HRchanges · EDGAR ↗
Q2 2024$3.6B37Jul 16, 202413F-HRchanges · EDGAR ↗
Q1 2024$3.7B36Apr 29, 202413F-HRchanges · EDGAR ↗
Q4 2023$3.4B35Feb 9, 202413F-HRchanges · EDGAR ↗
Q3 2023$3.7B37Nov 3, 202313F-HRchanges · EDGAR ↗
Q2 2023$4.0B38Aug 1, 202313F-HRchanges · EDGAR ↗
Q1 2023$3.8B40May 3, 202313F-HRchanges · EDGAR ↗
Q4 2022$3.8B35Jan 31, 202313F-HRchanges · EDGAR ↗
Q3 2022$3.7B28Nov 4, 2022RESTATEMENTchanges · EDGAR ↗
Q2 2022$4.4B35Aug 3, 202213F-HRchanges · EDGAR ↗
Q1 2022$5.4B33Apr 21, 202213F-HRchanges · EDGAR ↗
Q4 2021$6.2B37Jan 24, 202213F-HRchanges · EDGAR ↗
Q3 2021$5.5B36Oct 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$6.1B37Aug 9, 202113F-HRchanges · EDGAR ↗
Q1 2021$5.8B36Apr 26, 202113F-HRchanges · EDGAR ↗
Q4 2020$4.7B35Jan 21, 202113F-HRchanges · EDGAR ↗
Q3 2020$2.7B33Nov 6, 202013F-HRchanges · EDGAR ↗
Q2 2020$2.4B34Aug 4, 202013F-HRchanges · EDGAR ↗
Q1 2020$2.2B35Apr 28, 202013F-HRchanges · EDGAR ↗
Q4 2019$3.1B27Jan 31, 202013F-HRchanges · EDGAR ↗
Q3 2019$2.5B27Nov 6, 201913F-HRchanges · EDGAR ↗
Q2 2019$2.2B22Aug 7, 201913F-HRchanges · EDGAR ↗
Q1 2019$2.2B21Apr 9, 201913F-HRchanges · EDGAR ↗
Q4 2018$2.0B20Feb 12, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • Fondsmaeglerselskabet Maj Invest A/S028-18845

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.