SEC 13F Intelligence

Managers / Q4 2020 · view latest →

Maj Invest Holding A/S

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

Reported Value
$4.7B
Q4 2020
Positions
35
Filings on Record
32
2019–present window
Filed
Jan 21, 2021
original filing

Summary

Maj Invest Holding A/S reported $4.7B in U.S.-listed holdings across 35 positions for Q4 2020.

Its largest position, INTC, represents 8.8% of the portfolio.

Compared with Q3 2020, the fund opened 4 new positions and exited 2.

Portfolio Metrics

Turnover
+0.2%
vs prior filed quarter
Top-10 Concentration
+71.3%
share of reported value
Largest Position
+8.8%
Intel
New / Exited
4 / 2
positions this quarter

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: 98.9%ADR: 1.1%Other: 0.0%
  • Common Stock · 98.9% · $4.7B
  • ADR · 1.1% · $54M
  • Other · 0.0% · $30,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VVISA INCNEW+750750+$164,000$164,000
CNCCENTENE CORP DELNEW+2.3K2.3K+$139,000$139,000
TERTERADYNE INCNEW+730730+$88,000$88,000
BWABORGWARNER INCNEW+1.5K1.5K+$58,000$58,000
TSCOTRACTOR SUPPLY COADDED+631.8K947.8K+$88M$133M
LOWLOWES COS INCADDED+999.4K1.93M+$155M$310M
MATCH GROUP INCSOLD OUT−3450−$38,000$0
KSSKOHLS CORPSOLD OUT−1.8K0−$33,000$0

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

Holdings — Q4 2020

35 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1INTCINTEL CORPhistory →COM8.79%$415M8.33M
2PGRPROGRESSIVE CORPhistory →COM8.56%$404M4.08M
3PKGPACKAGING CORP AMERhistory →COM8.32%$393M2.85M
4UNPUNION PAC CORPhistory →COM7.89%$372M1.79M
5AFLAFLAC INChistory →COM7.36%$347M7.81M
6LOWLOWES COS INChistory →COM6.58%$310M1.93M
7UNHUNITEDHEALTH GROUP INChistory →COM6.51%$307M876.1K
8AXPAMERICAN EXPRESS COhistory →COM6.31%$298M2.46M
9PHPARKER-HANNIFIN CORPhistory →COM5.85%$276M1.01M
10GNTXGENTEX CORPhistory →COM5.17%$244M7.19M
11USBUS BANCORP DELhistory →COM NEW4.95%$234M5.02M
12CNICANADIAN NATL RY COhistory →COM4.27%$201M1.83M
13GMGENERAL MTRS COhistory →COM3.74%$177M4.24M
14TSCOTRACTOR SUPPLY COhistory →COM2.82%$133M947.8K
15ORLYOREILLY AUTOMOTIVE INChistory →COM2.40%$113M250.5K
16CCLCARNIVAL CORPhistory →UNIT 99/99/99992.39%$113M5.21M
17RHIROBERT HALF INTL INChistory →COM2.32%$109M1.75M
18TAT&T INChistory →COM1.86%$88M3.05M
19AZOAUTOZONE INChistory →COM1.85%$87M73.8K
20PKXPOSCOhistory →SPONSORED ADR1.15%$54M870.5K
21GSGOLDMAN SACHS GROUP INChistory →COM0.70%$33M125.0K
22CHRWC H ROBINSON WORLDWIDE INCCOM NEW0.20%$10M102.1K
23VVISA INCCOM CL A0.00%$164,000750
24CNCCENTENE CORP DELCOM0.00%$139,0002.3K
25GOOGLALPHABET INCCAP STK CL A0.00%$133,00076
26AIGAMERICAN INTL GROUP INCCOM NEW0.00%$129,0003.4K
27OCOWENS CORNING NEWCOM0.00%$121,0001.6K
28METAFACEBOOK INCCL A0.00%$117,000428
29TENNECO INCCL A VTG COM STK0.00%$98,0009.2K
30TERTERADYNE INCCOM0.00%$88,000730
31BIIBBIOGEN INCCOM0.00%$61,000250
32BWABORGWARNER INCCOM0.00%$58,0001.5K
33CVSCVS HEALTH CORPCOM0.00%$48,000700
34IAC INTERACTIVECORP NEWCOM0.00%$30,000160
35LBEURL BRANDS INCCOM0.00%$18,000479

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 ↗.