SEC 13F Intelligence

Managers / Q1 2025 · view latest →

Maj Invest Holding A/S

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

Reported Value
$2.8B
Q1 2025
Positions
45
Filings on Record
32
2019–present window
Filed
Apr 29, 2025
original filing

Summary

Maj Invest Holding A/S reported $2.8B in U.S.-listed holdings across 45 positions for Q1 2025.

Its largest position, ELV, represents 7.0% of the portfolio.

Compared with Q4 2024, the fund opened 6 new positions and exited 1.

Portfolio Metrics

Turnover
+11.4%
vs prior filed quarter
Top-10 Concentration
+59.2%
share of reported value
Largest Position
+7.0%
Elevance Health
New / Exited
6 / 1
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% · $2.8B
  • ADR · 0.0% · $278,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AMATAPPLIED MATLS INCNEW+872.7K872.7K+$127M$127M
HCAHCA HEALTHCARE INCNEW+317.8K317.8K+$110M$110M
LMTLOCKHEED MARTIN CORPNEW+315315+$141,000$141,000
GDGENERAL DYNAMICS CORPNEW+400400+$109,000$109,000
NOCNORTHROP GRUMMAN CORPNEW+180180+$92,000$92,000
MUMICRON TECHNOLOGY INCNEW+1.0K1.0K+$87,000$87,000
FISVFISERV INCSOLD OUT−659.9K0−$136M$0
JNJJOHNSON & JOHNSONTRIMMED−677.3K800−$98M$133,000

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

Holdings — Q1 2025

45 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ELVELEVANCE HEALTH INChistory →COM7.01%$194M446.2K
2BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW6.94%$192M360.7K
3GOOGLALPHABET INChistory →CAP STK CL A6.71%$186M1.20M
4QCOMQUALCOMM INChistory →COM6.17%$171M1.11M
5LOWLOWES COS INChistory →COM5.93%$164M703.6K
6AMPAMERIPRISE FINL INChistory →COM5.83%$161M333.1K
7CITHE CIGNA GROUPhistory →COM5.67%$157M476.5K
8KRKROGER COhistory →COM5.21%$144M2.13M
9CSXCSX CORPhistory →COM4.95%$137M4.65M
10NEMNEWMONT CORPhistory →COM4.83%$134M2.77M
11HPQHP INChistory →COM4.79%$132M4.78M
12UNPUNION PAC CORPhistory →COM4.78%$132M560.0K
13AMATAPPLIED MATLS INChistory →COM4.58%$127M872.7K
14METAMETA PLATFORMS INChistory →CL A4.34%$120M208.3K
15AXPAMERICAN EXPRESS COhistory →COM4.28%$118M440.2K
16HCAHCA HEALTHCARE INChistory →COM3.97%$110M317.8K
17AZOAUTOZONE INChistory →COM3.47%$96M25.2K
18GSGOLDMAN SACHS GROUP INChistory →COM2.98%$82M150.7K
19UPSUNITED PARCEL SERVICE INChistory →CL B2.84%$78M713.6K
20AFLAFLAC INChistory →COM2.34%$65M582.9K
21SCISERVICE CORP INTLhistory →COM1.94%$54M667.9K
22ABXBARRICK GOLD CORPCOM0.32%$9M449.1K
23INTCINTEL CORPCOM0.07%$2M81.0K
24VVISA INCCOM CL A0.01%$263,000750
25LMTLOCKHEED MARTIN CORPCOM0.01%$141,000315
26SONYSONY GROUP CORPSPONSORED ADR0.01%$140,0005.5K
27TERTERADYNE INCCOM0.00%$134,0001.6K
28JNJJOHNSON & JOHNSONCOM0.00%$133,000800
29TXNTEXAS INSTRS INCCOM0.00%$117,000650
30UNHUNITEDHEALTH GROUP INCCOM0.00%$116,000222
31GDGENERAL DYNAMICS CORPCOM0.00%$109,000400
32USBUS BANCORP DELCOM NEW0.00%$106,0002.5K
33ROKROCKWELL AUTOMATION INCCOM0.00%$103,000400
34PFEPFIZER INCCOM0.00%$101,0004.0K
35NOCNORTHROP GRUMMAN CORPCOM0.00%$92,000180
36MUMICRON TECHNOLOGY INCCOM0.00%$87,0001.0K
37MCOMOODYS CORPCOM0.00%$84,000180
38PKGPACKAGING CORP AMERCOM0.00%$81,000409
39TMOTHERMO FISHER SCIENTIFIC INCCOM0.00%$80,000160
40BIDUBAIDU INCSPON ADR REP A0.00%$78,000850
41JKSJINKOSOLAR HLDG CO LTDSPONSORED ADR0.00%$60,0003.2K
42CVSCVS HEALTH CORPCOM0.00%$37,000540
43MRNAMODERNA INCCOM0.00%$28,000990
44RUNSUNRUN INCCOM0.00%$28,0004.7K
45BBWIBATH & BODY WORKS INCCOM0.00%$15,000479

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 ↗.