SEC 13F Intelligence

Managers / Q2 2025 · view latest →

Maj Invest Holding A/S

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

Reported Value
$2.9B
Q2 2025
Positions
42
Filings on Record
32
2019–present window
Filed
Jul 30, 2025
original filing

Summary

Maj Invest Holding A/S reported $2.9B in U.S.-listed holdings across 42 positions for Q2 2025.

Its largest position, AMAT, represents 8.0% of the portfolio.

Compared with Q1 2025, the fund opened 1 new position and exited 4.

Portfolio Metrics

Turnover
+9.7%
vs prior filed quarter
Top-10 Concentration
+65.5%
share of reported value
Largest Position
+8.0%
Applied Matls
New / Exited
1 / 4
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% · $2.9B
  • ADR · 0.0% · $284,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BBARRICK MNG CORPNEW+258.3K258.3K+$5M$5M
AZOAUTOZONE INCSOLD OUT−25.2K0−$96M$0
ABXBARRICK GOLD CORPSOLD OUT−449.1K0−$9M$0
CVSCVS HEALTH CORPSOLD OUT−5400−$37,000$0
BBWIBATH & BODY WORKS INCSOLD OUT−4790−$15,000$0
GSGOLDMAN SACHS GROUP INCTRIMMED−68.5K82.2K−$24M$58M
CSXCSX CORPADDED+1.99M6.64M+$80M$217M
AMATAPPLIED MATLS INCADDED+371.0K1.24M+$101M$228M

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

Holdings — Q2 2025

42 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AMATAPPLIED MATLS INChistory →COM7.97%$228M1.24M
2CSXCSX CORPhistory →COM7.59%$217M6.64M
3QCOMQUALCOMM INChistory →COM7.40%$211M1.33M
4GOOGLALPHABET INChistory →CAP STK CL A7.34%$210M1.19M
5BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW6.50%$186M382.2K
6AMPAMERIPRISE FINL INChistory →COM6.17%$176M330.2K
7ELVELEVANCE HEALTH INChistory →COM6.00%$171M440.9K
8AXPAMERICAN EXPRESS COhistory →COM5.79%$165M518.3K
9LOWLOWES COS INChistory →COM5.39%$154M694.2K
10METAMETA PLATFORMS INChistory →CL A5.34%$152M206.4K
11CITHE CIGNA GROUPhistory →COM4.78%$136M412.7K
12HPQHP INChistory →COM4.75%$136M5.54M
13KRKROGER COhistory →COM4.53%$129M1.80M
14HCAHCA HEALTHCARE INChistory →COM4.28%$122M319.1K
15NEMNEWMONT CORPhistory →COM4.28%$122M2.10M
16UNPUNION PAC CORPhistory →COM3.06%$87M379.7K
17UPSUNITED PARCEL SERVICE INChistory →CL B2.51%$72M710.5K
18AFLAFLAC INChistory →COM2.10%$60M568.8K
19GSGOLDMAN SACHS GROUP INChistory →COM2.04%$58M82.2K
20SCISERVICE CORP INTLhistory →COM1.87%$53M655.6K
21BBARRICK MNG CORPCOM SHS0.19%$5M258.3K
22INTCINTEL CORPCOM0.05%$1M66.3K
23VVISA INCCOM CL A0.01%$267,000750
24TERTERADYNE INCCOM0.01%$146,0001.6K
25LMTLOCKHEED MARTIN CORPCOM0.01%$146,000315
26SONYSONY GROUP CORPSPONSORED ADR0.01%$143,0005.5K
27TXNTEXAS INSTRS INCCOM0.00%$135,000650
28ROKROCKWELL AUTOMATION INCCOM0.00%$133,000400
29MUMICRON TECHNOLOGY INCCOM0.00%$123,0001.0K
30JNJJOHNSON & JOHNSONCOM0.00%$122,000800
31GDGENERAL DYNAMICS CORPCOM0.00%$117,000400
32USBUS BANCORP DELCOM NEW0.00%$113,0002.5K
33PFEPFIZER INCCOM0.00%$97,0004.0K
34NOCNORTHROP GRUMMAN CORPCOM0.00%$90,000180
35MCOMOODYS CORPCOM0.00%$90,000180
36PKGPACKAGING CORP AMERCOM0.00%$77,000409
37BIDUBAIDU INCSPON ADR REP A0.00%$73,000850
38UNHUNITEDHEALTH GROUP INCCOM0.00%$69,000222
39JKSJINKOSOLAR HLDG CO LTDSPONSORED ADR0.00%$68,0003.2K
40TMOTHERMO FISHER SCIENTIFIC INCCOM0.00%$65,000160
41RUNSUNRUN INCCOM0.00%$38,0004.7K
42MRNAMODERNA INCCOM0.00%$28,000990

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 ↗.