SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Maj Invest Holding A/S

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

Reported Value
$3.4B
Q4 2023
Positions
35
Filings on Record
32
2019–present window
Filed
Feb 9, 2024
original filing

Summary

Maj Invest Holding A/S reported $3.4B in U.S.-listed holdings across 35 positions for Q4 2023.

Its largest position, CI, represents 7.7% of the portfolio.

Compared with Q3 2023, the fund opened 1 new position and exited 3.

Portfolio Metrics

Turnover
+3.8%
vs prior filed quarter
Top-10 Concentration
+66.8%
share of reported value
Largest Position
+7.7%
The Cigna
New / Exited
1 / 3
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: 100.0%ADR: 0.0%
  • Common Stock · 100.0% · $3.4B
  • ADR · 0.0% · $323,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
JNJJOHNSON & JOHNSONNEW+448.0K448.0K+$70M$70M
GNTXGENTEX CORPSOLD OUT−4.03M0−$131M$0
PGRPROGRESSIVE CORPSOLD OUT−6000−$84,000$0
GMGENERAL MTRS COSOLD OUT−9000−$30,000$0
INTCINTEL CORPTRIMMED−1.95M95.6K−$68M$5M
EBAYEBAY INC.TRIMMED−1.93M3.09M−$87M$135M
BRK/BBERKSHIRE HATHAWAY INC DELTRIMMED−70.9K229.8K−$23M$82M
PKGPACKAGING CORP AMERTRIMMED−360.6K1.24M−$44M$203M

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

Holdings — Q4 2023

35 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CITHE CIGNA GROUPhistory →COM7.73%$265M885.8K
2GSGOLDMAN SACHS GROUP INChistory →COM7.57%$260M673.6K
3METAMETA PLATFORMS INChistory →CL A7.30%$251M707.9K
4CSXCSX CORPhistory →COM7.28%$250M7.20M
5AXPAMERICAN EXPRESS COhistory →COM6.67%$229M1.22M
6LOWLOWES COS INChistory →COM6.59%$226M1.02M
7HPQHP INChistory →COM6.18%$212M7.04M
8PKGPACKAGING CORP AMERhistory →COM5.91%$203M1.24M
9GOOGLALPHABET INChistory →CAP STK CL A5.88%$202M1.44M
10UNPUNION PAC CORPhistory →COM5.65%$194M789.3K
11KLACKLA CORPhistory →COM NEW5.46%$187M322.5K
12MUMICRON TECHNOLOGY INChistory →COM4.80%$165M1.93M
13ABXBARRICK GOLD CORPhistory →COM4.57%$157M8.66M
14EBAYEBAY INC.history →COM3.93%$135M3.09M
15AFLAFLAC INChistory →COM3.85%$132M1.60M
16BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW2.39%$82M229.8K
17TSCOTRACTOR SUPPLY COhistory →COM2.31%$79M368.6K
18JNJJOHNSON & JOHNSONhistory →COM2.05%$70M448.0K
19SCISERVICE CORP INTLhistory →COM1.90%$65M951.4K
20TERTERADYNE INChistory →COM1.31%$45M413.5K
21NEMNEWMONT CORPhistory →COM0.49%$17M403.0K
22INTCINTEL CORPCOM0.14%$5M95.6K
23VVISA INCCOM CL A0.01%$195,000750
24ROKROCKWELL AUTOMATION INCCOM0.00%$124,000400
25JKSJINKOSOLAR HLDG CO LTDSPONSORED ADR0.00%$118,0003.2K
26UNHUNITEDHEALTH GROUP INCCOM0.00%$117,000222
27TXNTEXAS INSTRS INCCOM0.00%$111,000650
28USBUS BANCORP DELCOM NEW0.00%$108,0002.5K
29SONYSONY GROUP CORPSPONSORED ADR0.00%$104,0001.1K
30BIDUBAIDU INCSPON ADR REP A0.00%$101,000850
31MRNAMODERNA INCCOM0.00%$99,000990
32RUNSUNRUN INCCOM0.00%$92,0004.7K
33PPLIIAC INCCOM NEW0.00%$73,0001.4K
34CVSCVS HEALTH CORPCOM0.00%$43,000540
35BBWIBATH & BODY WORKS INCCOM0.00%$21,000479

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 ↗.