CIK: 0001730525
Total reported value
$2.2B
Reporting period: 2026-06-30 · Number of holdings: 40
Maj Invest Holding A/S disclosed 40 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $2.2B and a quarterly turnover rate of 14.3%.
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Maj Invest Holding A/S's disclosed holdings carry a Herfindahl concentration index of 0.058 — mathematically equivalent to about 17 equally-sized positions, well below its 40 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.17), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 3.9 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Add AXP
+19.5% $32.0M
Trim ZTS
-11.6% -$36.9M
Add META
+18.4% $24.3M
Trim UNP
-33.3% -$32.1M
Trim CSX
-29.6% -$27.1M
Add CI
+13.6% $18.2M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | QCOM | Qualcomm INC | Stock-Tech | 8.82% | +0.93% | -24.63% | |
| 2 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 8.30% | -0.50% | -12.59% | |
| 3 | META | Meta Platforms Inc-class A | Stock-Comm Services | 7.76% | +1.32% | +18.43% | |
| 4 | HPQ | Hp INC | Stock-Tech | 7.46% | +0.31% | -11.64% | |
| 5 | AMAT | Applied Materials INC | Stock-Tech | 5.81% | -0.49% | -57.78% | |
| 6 | AXP | American Express Co | Stock-Financials | 5.78% | +1.60% | +19.52% | |
| 7 | CI | THE Cigna Group | Stock-Healthcare | 5.57% | +0.98% | +13.63% | |
| 8 | AMP | Ameriprise Financial INC | Stock-Financials | 5.49% | -0.33% | -11.66% | |
| 9 | CSX | Csx CORP | Stock-Industrials | 5.46% | -1.02% | -29.55% | |
| 10 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 5.36% | +0.64% | -11.68% | |
| 11 | UPS | United Parcel Service-cl B | Stock-Industrials | 4.74% | -0.01% | -11.71% | |
| 12 | LOW | Lowe's Cos INC | Stock-Consumer Disc | 4.67% | -0.81% | -11.67% | |
| 13 | KR | Kroger Co | Stock-Consumer Staples | 4.50% | -0.33% | +17.48% | |
| 14 | UNP | Union Pacific CORP | Stock-Industrials | 4.32% | -1.27% | -33.32% | |
| 15 | HCA | Hca Healthcare INC | Stock-Healthcare | 4.12% | +0.53% | +34.79% | |
| 16 | ELV | Elevance Health INC | Stock-Healthcare | 4.04% | +0.69% | -11.60% | |
| 17 | AFL | Aflac INC | Stock-Financials | 2.74% | -0.03% | -10.64% | |
| 18 | ZTS | Zoetis INC | Stock-Healthcare | 1.95% | -1.56% | -11.62% | |
| 19 | NEM | Newmont CORP | Stock-Materials | 1.90% | -0.38% | -6.60% | |
| 20 | SCI | Service CORP International | Stock-Consumer Disc | 1.14% | -0.22% | -11.64% | |
| 21 | INTC | Intel CORP | Stock-Tech | 0.01% | +0.01% | -42.50% | |
| 22 | LMT | Lockheed Martin CORP | Stock-Industrials | 0.01% | — | — | |
| 23 | V | Visa Inc-class A Shares | Stock-Financials | 0.01% | — | -40.00% | |
| 24 | USB | US Bancorp | Stock-Financials | 0.01% | — | — | |
| 25 | GD | General Dynamics CORP | Stock-Industrials | 0.01% | — | — | |
| 26 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.01% | +0.01% | — | |
| 27 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.01% | — | — | |
| 28 | ROK | Rockwell Automation INC | Stock-Industrials | 0.01% | +0.01% | — | |
| 29 | TXN | Texas Instruments INC | Stock-Tech | 0.01% | — | -42.31% | |
| 30 | MCO | Moody's CORP | Stock-Financials | 0.01% | — | — | |
| 31 | SONY | Sony Group CORP - Sp Adr | Stock-Tech | 0.01% | — | — | |
| 32 | MRNA | Moderna INC | Stock-Healthcare | — | — | +50.51% | |
| 33 | GS | Goldman Sachs Group INC | Stock-Financials | — | — | — | |
| 34 | BIDU | Baidu INC - Spon Adr | Stock-Comm Services | — | — | — | |
| 35 | PFE | Pfizer INC | Stock-Healthcare | — | — | — | |
| 36 | NOC | Northrop Grumman CORP | Stock-Industrials | — | -0.01% | — | |
| 37 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | — | — | — | |
| 38 | JKS | Jinkosolar Holding Co-adr | Stock-Other | — | — | — | |
| 39 | BABA | Alibaba Group Holding-sp Adr | Stock-Consumer Disc | — | — | — | |
| 40 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | — | — | — |
Performance for Q3 2026
+3.7%
Performance Last 4 Quarters
+40.1%
Based on 77% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-06-30 | 40 | $2.2B | 14 | |
| 2026-03-31 | 38 | $2.3B | 16 | |
| 2025-12-31 | 38 | $2.1B | 33 | |
| 2025-09-30 | 42 | $2.9B | 31 | |
| 2025-06-30 | 42 | $2.9B | 0 | |
| 2025-03-31 | 45 | $2.8B | 100 | |
| 2024-12-31 | 40 | $3.0B | 0 | |
| 2024-09-30 | 39 | $3.8B | 0 | |
| 2024-06-30 | 37 | $3.6B | 0 | |
| 2024-03-31 | 36 | $3.7B | 0 | |
| 2023-12-31 | 35 | $3.4B | 0 | |
| 2023-09-30 | 37 | $3.7B | 0 | |
| 2023-06-30 | 38 | $4.0B | 0 | |
| 2023-03-31 | 40 | $3.8B | 0 | |
| 2022-12-31 | 35 | $3.8B | 0 | |
| 2022-09-30 | 28 | $3.7B | 0 | |
| 2022-06-30 | 35 | $4.4B | 0 | |
| 2022-03-31 | 33 | $5.4B | 0 | |
| 2021-12-31 | 37 | $6.2B | 0 | |
| 2021-09-30 | 36 | $5.5B | 0 | |
| 2021-06-30 | 37 | $6.1B | 100 | |
| 2021-03-31 | 36 | $5.8B | 33 | |
| 2020-12-31 | 35 | $4.7B | 55 | |
| 2020-09-30 | 33 | $2.7B | 26 | |
| 2020-06-30 | 34 | $2.4B | 31 | |
| 2020-03-31 | 35 | $2.2B | 67 | |
| 2019-12-31 | 27 | $3.1B | 23 | |
| 2019-09-30 | 27 | $2.5B | 15 | |
| 2019-06-30 | 22 | $2.2B | 35 | |
| 2019-03-31 | 21 | $2.2B | 23 | |
| 2018-12-31 | 20 | $2.0B | 39 | |
| 2018-09-30 | 21 | $2.1B | 33 | |
| 2018-06-30 | 20 | $1.7B | 22 | |
| 2018-03-31 | 21 | $1.7B | 35 | |
| 2017-12-31 | 24 | $1.8B | 13 | |
| 2017-09-30 | 22 | $1.7B | 54 | |
| 2017-06-30 | 18 | $1.5B | 32 | |
| 2017-03-31 | 48 | $1.4B | 26 | |
| 2016-12-31 | 36 | $1.4B | 37 | |
| 2016-09-30 | 37 | $953.9M | 57 | |
| 2016-06-30 | 39 | $568.2M | 40 | |
| 2016-03-31 | 37 | $401.7M | 35 | |
| 2015-12-31 | 39 | $305.9M | 44 | |
| 2015-09-30 | 40 | $279.1M | 42 | |
| 2015-06-30 | 39 | $290.0M | 24 | |
| 2015-03-31 | 39 | $285.7M | 39 | |
| 2014-12-31 | 38 | $242.9M | 16 | |
| 2014-09-30 | 40 | $230.2M | 22 | |
| 2014-06-30 | 26 | $265.8M | 46 | |
| 2014-03-31 | 27 | $352.5M | 40 | |
| 2013-12-31 | 26 | $266.1M | 13 | |
| 2013-09-30 | 26 | $252.9M | 8 | |
| 2013-06-30 | 26 | $244.3M | 51 |
Maj Invest Holding A/S's most significant position changes for 2026-06-30: Add: American Express Co (AXP) — shares +19.52%; Trim: Zoetis INC (ZTS) — shares -11.62%; Add: Meta Platforms Inc-class A (META) — shares +18.43%; Trim: Union Pacific CORP (UNP) — shares -33.32%; Trim: Csx CORP (CSX) — shares -29.55%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AXP | American Express Co | +1.6% | +19.52% | Add |
| 2 | META | Meta Platforms Inc-class A | +1.3% | +18.43% | Add |
| 3 | CI | THE Cigna Group | +1% | +13.63% | Add |
| 4 | QCOM | Qualcomm INC | +0.9% | -24.63% | Trim |
| 5 | ELV | Elevance Health INC | +0.7% | -11.60% | Trim |
| 6 | GOOGL | Alphabet Inc-cl A | +0.6% | -11.68% | Trim |
| 7 | HCA | Hca Healthcare INC | +0.5% | +34.79% | Add |
| 8 | HPQ | Hp INC | +0.3% | -11.64% | Trim |
| 9 | INTC | Intel CORP | 0% | -42.50% | Trim |
| 10 | UNH | Unitedhealth Group INC | 0% | — | Unchanged |
| 11 | ROK | Rockwell Automation INC | 0% | — | Unchanged |
| 12 | V | Visa Inc-class A Shares | — | -40.00% | Trim |
| 13 | MRNA | Moderna INC | — | +50.51% | Add |
| 14 | LMT | Lockheed Martin CORP | — | — | Unchanged |
| 15 | JKS | Jinkosolar Holding Co-adr | — | — | Unchanged |
| 16 | USB | US Bancorp | — | — | Unchanged |
| 17 | GS | Goldman Sachs Group INC | — | — | Unchanged |
| 18 | PFE | Pfizer INC | — | — | Unchanged |
| 19 | TXN | Texas Instruments INC | — | -42.31% | Trim |
| 20 | GD | General Dynamics CORP | — | — | Unchanged |
| 21 | SONY | Sony Group CORP - Sp Adr | — | — | Unchanged |
| 22 | MCO | Moody's CORP | — | — | Unchanged |
| 23 | JNJ | Johnson & Johnson | — | — | Unchanged |
| 24 | BIDU | Baidu INC - Spon Adr | — | — | Unchanged |
| 25 | TMO | Thermo Fisher Scientific INC | — | — | Unchanged |
| 26 | BABA | Alibaba Group Holding-sp Adr | — | — | Unchanged |
| 27 | TSM | Taiwan Semiconductor-sp Adr | — | — | Unchanged |
| 28 | UPS | United Parcel Service-cl B | 0% | -11.71% | Trim |
| 29 | NOC | Northrop Grumman CORP | 0% | — | Unchanged |
| 30 | AFL | Aflac INC | 0% | -10.64% | Trim |
| 31 | SCI | Service CORP International | -0.2% | -11.64% | Trim |
| 32 | AMP | Ameriprise Financial INC | -0.3% | -11.66% | Trim |
| 33 | KR | Kroger Co | -0.3% | +17.48% | Add |
| 34 | NEM | Newmont CORP | -0.4% | -6.60% | Trim |
| 35 | AMAT | Applied Materials INC | -0.5% | -57.78% | Trim |
| 36 | BRK-B | Berkshire Hathaway Inc-cl B | -0.5% | -12.59% | Trim |
| 37 | LOW | Lowe's Cos INC | -0.8% | -11.67% | Trim |
| 38 | CSX | Csx CORP | -1% | -29.55% | Trim |
| 39 | UNP | Union Pacific CORP | -1.3% | -33.32% | Trim |
| 40 | ZTS | Zoetis INC | -1.6% | -11.62% | Trim |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-06-30 | 2026-07-09 | 13F-HR | View on EDGAR |
| 2026-03-31 | 2026-05-01 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-06 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-03 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-30 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-29 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-22 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-10 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-16 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-29 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-09 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-03 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-01 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-03 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-01-31 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-04 | Amendment | View on EDGAR |
| 2022-09-30 | 2022-10-28 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-03 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-21 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-24 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-09 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-26 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-21 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-06 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-04 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-28 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-31 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-06 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-07 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-09 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-12 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-13 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-13 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2018-07-16 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2018-07-16 | 13F-HR | View on EDGAR |
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