SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Maj Invest Holding A/S

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

Reported Value
$2.1B
Q4 2025
Positions
38
Filings on Record
32
2019–present window
Filed
Feb 6, 2026
original filing

Summary

Maj Invest Holding A/S reported $2.1B in U.S.-listed holdings across 38 positions for Q4 2025.

Its largest position, BRK/B, represents 8.7% of the portfolio.

Compared with Q3 2025, the fund opened 0 new positions and exited 4.

Portfolio Metrics

Turnover
+1.4%
vs prior filed quarter
Top-10 Concentration
+64.5%
share of reported value
Largest Position
+8.7%
Berkshire Hathaway

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% · $2.1B
  • ADR · 0.0% · $335,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BBARRICK MNG CORPSOLD OUT−228.6K0−$7M$0
TERTERADYNE INCSOLD OUT−1.6K0−$224,000$0
MUMICRON TECHNOLOGY INCSOLD OUT−1.0K0−$167,000$0
RUNSUNRUN INCSOLD OUT−4.7K0−$81,000$0
INTCINTEL CORPTRIMMED−56.9K2.0K−$2M$74,000
GOOGLALPHABET INCTRIMMED−726.7K379.9K−$150M$119M
NEMNEWMONT CORPTRIMMED−1.09M800.5K−$80M$80M
PKGPACKAGING CORP AMERTRIMMED−204200−$47,000$41,000

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

Holdings — Q4 2025

38 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW8.69%$187M371.6K
2QCOMQUALCOMM INChistory →COM7.82%$168M982.6K
3AMATAPPLIED MATLS INChistory →COM7.27%$156M607.8K
4AMPAMERIPRISE FINL INChistory →COM6.83%$147M299.4K
5CSXCSX CORPhistory →COM6.07%$131M3.60M
6LOWLOWES COS INChistory →COM5.95%$128M530.5K
7UNPUNION PAC CORPhistory →COM5.84%$126M542.9K
8GOOGLALPHABET INChistory →CAP STK CL A5.53%$119M379.9K
9AXPAMERICAN EXPRESS COhistory →COM5.35%$115M311.1K
10HPQHP INChistory →COM5.12%$110M4.94M
11CITHE CIGNA GROUPhistory →COM5.04%$108M393.5K
12UPSUNITED PARCEL SERVICE INChistory →CL B5.03%$108M1.09M
13METAMETA PLATFORMS INChistory →CL A4.90%$105M159.7K
14KRKROGER COhistory →COM4.43%$95M1.52M
15ELVELEVANCE HEALTH INC FORMERLYhistory →COM4.27%$92M262.0K
16HCAHCA HEALTHCARE INChistory →COM3.79%$82M174.6K
17NEMNEWMONT CORPhistory →COM3.72%$80M800.5K
18AFLAFLAC INChistory →COM2.87%$62M559.6K
19SCISERVICE CORP INTLhistory →COM1.37%$29M377.6K
20VVISA INCCOM CL A0.01%$263,000750
21LMTLOCKHEED MARTIN CORPCOM0.01%$153,000315
22SONYSONY GROUP CORPSPONSORED ADR0.01%$141,0005.5K
23GDGENERAL DYNAMICS CORPCOM0.01%$135,000400
24USBUS BANCORP DELCOM NEW0.01%$133,0002.5K
25MCOMOODYS CORPCOM0.01%$125,000245
26TXNTEXAS INSTRS INCCOM0.01%$113,000650
27BIDUBAIDU INCSPON ADR REP A0.01%$111,000850
28NOCNORTHROP GRUMMAN CORPCOM0.00%$103,000180
29UNHUNITEDHEALTH GROUP INCCOM0.00%$101,000307
30PFEPFIZER INCCOM0.00%$100,0004.0K
31JNJJOHNSON & JOHNSONCOM0.00%$97,000470
32TMOTHERMO FISHER SCIENTIFIC INCCOM0.00%$93,000160
33ROKROCKWELL AUTOMATION INCCOM0.00%$93,000240
34GSGOLDMAN SACHS GROUP INCCOM0.00%$88,000100
35JKSJINKOSOLAR HLDG CO LTDSPONSORED ADR0.00%$83,0003.2K
36INTCINTEL CORPCOM0.00%$74,0002.0K
37PKGPACKAGING CORP AMERCOM0.00%$41,000200
38MRNAMODERNA INCCOM0.00%$29,000990

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 ↗.