# Maj Invest Holding A/S

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1730525. Source: https://holderbook.com/funds/1730525-maj-invest-holding-a-s/

- Reported value: $2.2B
- Positions: 40
- Weight of the ten largest: 65.8%
- Filed: 2026-07-09

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $194.0M | 1,049,807 | 8.8% | 8 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $182.5M | 364,813 | 8.3% | 12 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $170.6M | 302,931 | 7.8% | 31 |
| HP INC | [HPQ](https://holderbook.com/stocks/HPQ/) | $164.0M | 7,474,697 | 7.5% | 15 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $127.8M | 176,751 | 5.8% | 6 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $127.0M | 375,514 | 5.8% | 26 |
| THE CIGNA GROUP | [CI](https://holderbook.com/stocks/CI/) | $122.4M | 443,993 | 5.6% | 14 |
| AMERIPRISE FINL INC | [AMP](https://holderbook.com/stocks/AMP/) | $120.6M | 262,966 | 5.5% | 8 |
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $120.1M | 2,526,725 | 5.5% | 15 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $117.8M | 329,595 | 5.4% | 31 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $104.2M | 969,545 | 4.7% | 9 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $102.6M | 465,406 | 4.7% | 26 |
| KROGER CO | [KR](https://holderbook.com/stocks/KR/) | $98.9M | 1,780,542 | 4.5% | 10 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $95.0M | 349,171 | 4.3% | 31 |
| HCA HEALTHCARE INC | [HCA](https://holderbook.com/stocks/HCA/) | $90.6M | 232,486 | 4.1% | 6 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $88.9M | 229,987 | 4.0% | 9 |
| AFLAC INC | [AFL](https://holderbook.com/stocks/AFL/) | $60.2M | 513,359 | 2.7% | 31 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $42.9M | 596,697 | 1.9% | 2 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $41.8M | 447,920 | 1.9% | 16 |
| SERVICE CORP INTL | [SCI](https://holderbook.com/stocks/SCI/) | $25.2M | 331,276 | 1.1% | 21 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $161.0K | 1,150 | 0.0% | 31 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $160.0K | 315 | 0.0% | 6 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $154.0K | 450 | 0.0% | 23 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $151.0K | 2,500 | 0.0% | 14 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $142.0K | 400 | 0.0% | 6 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $128.0K | 307 | 0.0% | 15 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $119.0K | 470 | 0.0% | 11 |
| ROCKWELL AUTOMATION INC | [ROK](https://holderbook.com/stocks/ROK/) | $119.0K | 240 | 0.0% | 14 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $112.0K | 375 | 0.0% | 14 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $111.0K | 245 | 0.0% | 7 |
| SONY GROUP CORP | [SONY](https://holderbook.com/stocks/SONY/) | $110.0K | 5,500 | 0.0% | 15 |
| MODERNA INC | [MRNA](https://holderbook.com/stocks/MRNA/) | $104.0K | 1,490 | 0.0% | 22 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $101.0K | 100 | 0.0% | 31 |
| BAIDU INC | [BIDU](https://holderbook.com/stocks/BIDU/) | $97.0K | 850 | 0.0% | 14 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $96.0K | 4,000 | 0.0% | 9 |
| NORTHROP GRUMMAN CORP | [NOC](https://holderbook.com/stocks/NOC/) | $92.0K | 180 | 0.0% | 6 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $80.0K | 160 | 0.0% | 7 |
| JINKOSOLAR HLDG CO LTD | [JKS](https://holderbook.com/stocks/JKS/) | $54.0K | 3,200 | 0.0% | 15 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $0 | 0 | 0.0% | 1 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $0 | 0 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +13.2% | +14.8% | -1.6% | 100% |
| Q1 2026 | -2.2% | -4.6% | +2.5% | 100% |
| Q4 2025 | +5.9% | +2.4% | +3.5% | 100% |
| Q3 2025 | +6.6% | +7.8% | -1.2% | 100% |
| Q2 2025 | +5.4% | +10.5% | -5.0% | 100% |
| Q1 2025 | +1.8% | -4.6% | +6.4% | 100% |
| Q4 2024 | -3.7% | +2.1% | -5.9% | 100% |
| Q3 2024 | +8.0% | +5.4% | +2.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $2.2B | 40 |
| Q1 2026 | $2.3B | 38 |
| Q4 2025 | $2.1B | 38 |
| Q3 2025 | $2.9B | 42 |
| Q2 2025 | $2.9B | 42 |
| Q1 2025 | $2.8B | 45 |
| Q4 2024 | $3.0B | 40 |
| Q3 2024 | $3.8B | 39 |
| Q2 2024 | $3.6B | 37 |
| Q1 2024 | $3.7B | 36 |
| Q4 2023 | $3.4B | 35 |
| Q3 2023 | $3.7B | 37 |