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Livermore
Livermore
ZHEN

Maj Invest Holding A/S

SEC CIK
0001730525
Latest filing
Jul 9, 2026

The latest 13F from Maj Invest Holding A/S covers Q2 2026 (filed Jul 9, 2026): 38 long positions worth $2.20B. The top 10 holdings make up 65.8% of the portfolio, and the largest is Qualcomm Inc (QCOM) at 8.8%. Livermore has 23 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
0
Added
6
Est. +$100.1M
Reduced
18
Est. −$473.9M
Sold out
0

Top 5 holdings

Share of this quarter's portfolio value

  1. QCOMQualcomm Inc
    8.8%$194.0MHistory
  2. BRK.BBerkshire Hathaway Inc
    8.3%$182.5MHistory
  3. METAMeta Platforms, Inc.
    7.8%$170.6MHistory
  4. HPQHP Inc
    7.5%$164.0MHistory
  5. AMATApplied Materials Inc
    5.8%$127.8MHistory

Share of portfolio

Top 5 holdings and the other 33 positions, by share of portfolio value

  1. QCOM8.8%
  2. BRK.B8.3%
  3. META7.8%
  4. HPQ7.5%
  5. AMAT5.8%
  6. Other 33 positions61.9%

Biggest buys

New and added positions, by estimated amount bought

  1. METAMeta Platforms, Inc.
    +$26.6MAddedHistory
  2. HCAHCA Healthcare, Inc.
    +$23.4MAddedHistory
  3. AXPAmerican Express Co
    +$20.7MAddedHistory
  4. KRKroger Co
    +$14.7MAddedHistory
  5. CICigna Group
    +$14.7MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. AXPAmerican Express Co
    +1.59 pp4.2% → 5.8%History
  2. METAMeta Platforms, Inc.
    +1.32 pp6.4% → 7.8%History
  3. CICigna Group
    +0.98 pp4.6% → 5.6%History
  4. HCAHCA Healthcare, Inc.
    +0.53 pp3.6% → 4.1%History
  5. MRNAModerna, Inc.
    0.00 pp<0.1% → <0.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. AMATApplied Materials Inc
    −$174.9MReducedHistory
  2. QCOMQualcomm Inc
    −$63.4MReducedHistory
  3. CSXCSX Corp
    −$50.4MReducedHistory
  4. UNPUnion Pacific Corp
    −$47.5MReducedHistory
  5. BRK.BBerkshire Hathaway Inc
    −$26.3MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. ZTSZoetis Inc.
    −1.56 pp3.5% → 1.9%History
  2. UNPUnion Pacific Corp
    −1.27 pp5.6% → 4.3%History
  3. CSXCSX Corp
    −1.02 pp6.5% → 5.5%History
  4. LOWLowes Companies Inc
    −0.81 pp5.5% → 4.7%History
  5. BRK.BBerkshire Hathaway Inc
    −0.50 pp8.8% → 8.3%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$2.20B
−$72.8M (−3.2%) vs. prior quarter
Positions
38
0 vs. prior quarter
Top 10 concentration
65.8%
Top 10 as share of value
Turnover
4.5%
Q2 2026, one quarter
Average holding period
14.0 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $6.16B (Q4 2021)

Q1 2021: $5.83BQ2 2021: $6.09BQ3 2021: $5.47BQ4 2021: $6.16BQ1 2022: $5.39BQ2 2022: $4.44BQ3 2022: $3.69BQ4 2022: $3.78BQ1 2023: $3.81BQ2 2023: $4.04BQ3 2023: $3.75BQ4 2023: $3.43BQ1 2024: $3.69BQ2 2024: $3.60BQ3 2024: $3.77BQ4 2024: $3.04BQ1 2025: $2.77BQ2 2025: $2.86BQ3 2025: $2.93BQ4 2025: $2.15BQ1 2026: $2.27BQ2 2026: $2.20B
Q1 2021Q2 2026
13F filings of Maj Invest Holding A/S by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 9, 202638$2.20BQCOMBRK.BMETAvs. Q1 2026SEC
Q1 2026May 1, 202638$2.27BBRK.BQCOMHPQvs. Q4 2025SEC
Q4 2025Feb 6, 202638$2.15BBRK.BQCOMAMATvs. Q3 2025SEC
Q3 2025Nov 3, 202542$2.93BGOOGLBRK.BAMATvs. Q2 2025SEC
Q2 2025Jul 30, 202542$2.86BAMATCSXQCOMvs. Q1 2025SEC
Q1 2025Apr 29, 202545$2.77BELVBRK.BGOOGLvs. Q4 2024SEC
Q4 2024Jan 22, 202540$3.04BGOOGLAMPLOWvs. Q3 2024SEC
Q3 2024Oct 10, 202439$3.77BGOOGLLOWQCOMvs. Q2 2024SEC
Q2 2024Jul 16, 202437$3.60BGOOGLAXPGSvs. Q1 2024SEC
Q1 2024Apr 29, 202436$3.69BCIGSGOOGLvs. Q4 2023SEC
Q4 2023Feb 9, 202435$3.43BCIGSMETAvs. Q3 2023SEC
Q3 2023Nov 3, 202337$3.75BCIMETACSXvs. Q2 2023SEC
Q2 2023Aug 1, 202338$4.04BCIMETAGSvs. Q1 2023SEC
Q1 2023May 3, 202340$3.81BMETAAXPEBAYvs. Q4 2022SEC
Q4 2022Jan 31, 202335$3.78BLOWUNPAXPvs. Q3 2022SEC
Q3 2022Nov 4, 2022Amended28$3.69BLOWMETAGOOGLvs. Q2 2022SEC
Q2 2022Aug 3, 202235$4.44BMETALOWKLACvs. Q1 2022SEC
Q1 2022Apr 21, 202233$5.39BMETALOWEBAYvs. Q4 2021SEC
Q4 2021Jan 24, 202237$6.16BLOWMETALRCXvs. Q3 2021SEC
Q3 2021Oct 15, 202136$5.47BLOWINTCMETAvs. Q2 2021SEC
Q2 2021Aug 9, 202137$6.09BLOWAXPINTCvs. Q1 2021SEC
Q1 2021Apr 26, 202135$5.83BLOWINTCUNP–SEC