SEC 13F Intelligence

Managers / Q3 2025 · view latest →

Maj Invest Holding A/S

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

Reported Value
$2.9B
Q3 2025
Positions
42
Filings on Record
32
2019–present window
Filed
Nov 3, 2025
original filing

Summary

Maj Invest Holding A/S reported $2.9B in U.S.-listed holdings across 42 positions for Q3 2025.

Its largest position, GOOGL, represents 9.2% of the portfolio.

The book was largely unchanged from Q2 2025.

Portfolio Metrics

Turnover
+9.0%
vs prior filed quarter
Top-10 Concentration
+68.1%
share of reported value
Largest Position
+9.2%
Alphabet

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% · $347,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
GSGOLDMAN SACHS GROUP INCTRIMMED−82.0K180−$58M$143,000
UNPUNION PAC CORPADDED+156.0K535.8K+$39M$127M
UPSUNITED PARCEL SERVICE INCADDED+275.6K986.2K+$11M$82M
METAMETA PLATFORMS INCTRIMMED−75.8K130.7K−$56M$96M
BRK/BBERKSHIRE HATHAWAY INC DELADDED+130.3K512.5K+$72M$258M
CSXCSX CORPTRIMMED−1.15M5.49M−$22M$195M
LOWLOWES COS INCADDED+108.8K803.0K+$48M$202M
BBARRICK MNG CORPTRIMMED−29.7K228.6K+$2M$7M

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

Holdings — Q3 2025

42 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1GOOGLALPHABET INChistory →CAP STK CL A9.19%$269M1.11M
2BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW8.80%$258M512.5K
3AMATAPPLIED MATLS INChistory →COM8.29%$243M1.18M
4QCOMQUALCOMM INChistory →COM7.15%$209M1.26M
5LOWLOWES COS INChistory →COM6.89%$202M803.0K
6CSXCSX CORPhistory →COM6.66%$195M5.49M
7NEMNEWMONT CORPhistory →COM5.45%$159M1.89M
8HPQHP INChistory →COM5.35%$157M5.75M
9AXPAMERICAN EXPRESS COhistory →COM5.29%$155M466.2K
10AMPAMERIPRISE FINL INChistory →COM4.99%$146M297.0K
11HCAHCA HEALTHCARE INChistory →COM4.93%$144M338.5K
12ELVELEVANCE HEALTH INC FORMERLYhistory →COM4.38%$128M396.8K
13UNPUNION PAC CORPhistory →COM4.33%$127M535.8K
14CITHE CIGNA GROUPhistory →COM4.16%$122M422.7K
15KRKROGER COhistory →COM3.76%$110M1.63M
16METAMETA PLATFORMS INChistory →CL A3.28%$96M130.7K
17UPSUNITED PARCEL SERVICE INChistory →CL B2.81%$82M986.2K
18AFLAFLAC INChistory →COM2.20%$64M576.4K
19SCISERVICE CORP INTLhistory →COM1.68%$49M589.6K
20BBARRICK MNG CORPCOM SHS0.26%$7M228.6K
21INTCINTEL CORPCOM0.07%$2M58.9K
22VVISA INCCOM CL A0.01%$256,000750
23TERTERADYNE INCCOM0.01%$224,0001.6K
24MUMICRON TECHNOLOGY INCCOM0.01%$167,0001.0K
25SONYSONY GROUP CORPSPONSORED ADR0.01%$158,0005.5K
26LMTLOCKHEED MARTIN CORPCOM0.01%$157,000315
27JNJJOHNSON & JOHNSONCOM0.01%$148,000800
28GSGOLDMAN SACHS GROUP INCCOM0.00%$143,000180
29ROKROCKWELL AUTOMATION INCCOM0.00%$140,000400
30GDGENERAL DYNAMICS CORPCOM0.00%$136,000400
31USBUS BANCORP DELCOM NEW0.00%$121,0002.5K
32TXNTEXAS INSTRS INCCOM0.00%$119,000650
33BIDUBAIDU INCSPON ADR REP A0.00%$112,000850
34NOCNORTHROP GRUMMAN CORPCOM0.00%$110,000180
35PFEPFIZER INCCOM0.00%$102,0004.0K
36PKGPACKAGING CORP AMERCOM0.00%$88,000404
37MCOMOODYS CORPCOM0.00%$86,000180
38RUNSUNRUN INCCOM0.00%$81,0004.7K
39TMOTHERMO FISHER SCIENTIFIC INCCOM0.00%$78,000160
40UNHUNITEDHEALTH GROUP INCCOM0.00%$77,000222
41JKSJINKOSOLAR HLDG CO LTDSPONSORED ADR0.00%$77,0003.2K
42MRNAMODERNA INCCOM0.00%$26,000990

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 ↗.