# EDGAR Filing Document

**Accession Number:** 0001730525
**File Stem:** 0001730525-25-000008
**Filing Date:** 2025-8
**Character Count:** 39435
**Document Hash:** a75b84faaca3dc242b24999fe75cd2ae
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001730525-25-000008.hdr.sgml**: 20250811

**ACCESSION NUMBER**: 0001730525-25-000008

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20240630

**FILED AS OF DATE**: 20250811

**EFFECTIVENESS DATE**: 20250811

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Maj Invest Holding A/S
- **CENTRAL INDEX KEY:** 0001730525

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** G7
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18842
- **FILM NUMBER:** 251200354

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** GAMMELTORV 18
- **CITY:** COPENHAGEN K
- **NON US STATE TERRITORY:** DENMARK
- **PROVINCE COUNTRY:** G7
- **ZIP:** 1457
- **BUSINESS PHONE:** 0045 3338 7300

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 18 GAMMELTORV
- **CITY:** COPENHAGEN K
- **NON US STATE TERRITORY:** DENMARK
- **PROVINCE COUNTRY:** G7
- **ZIP:** 1457

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001730525

**Date of Report:** 06/30/2024

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Maj Invest Holding A/S

**Address:** GAMMELTORV 18, COPENHAGEN K, G7 1457

**Telephone number:** 004533387386

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2024

**SEC File Number:** 028-18842

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 1

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                      | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                               | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| TE Connectivity Ltd.                | H84989104 | 13/03/2024     | Approve Remuneration Report                                                    | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Agnico Eagle Mines Limited          | 008474108 | 26/04/2024     | Advisory Vote on Executive Compensation Approach                               | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Union Pacific Corporation           | 907818108 | 09/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         161739 |                0 | FOR         |                                   161739 | FOR                         |  |
| Service Corporation International   | 817565104 | 07/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         553541 |            21124 | AGAINST     |                                   553541 | FOR                         |  |
| Service Corporation International   | 817565104 | 07/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         223891 |                0 | AGAINST     |                                   223891 | FOR                         |  |
| HP Inc.                             | 40434L105 | 22/04/2024     | Amend Omnibus Stock Plan                                                       | SECTION 14A SAY-ON-PAY VOTES |        4621803 |                0 | FOR         |                                  4621803 | FOR                         |  |
| Pfizer Inc.                         | 717081103 | 25/04/2024     | Amend Omnibus Stock Plan                                                       | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Micron Technology, Inc.             | 595112103 | 18/01/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |        1433268 |                0 | AGAINST     |                                  1433268 | FOR                         |  |
| American Express Company            | 025816109 | 06/05/2024     | Amend Omnibus Stock Plan                                                       | SECTION 14A SAY-ON-PAY VOTES |         771898 |                0 | FOR         |                                   771898 | FOR                         |  |
| Colgate-Palmolive Company           | 194162103 | 10/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| The Cigna Group                     | 125523100 | 24/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         564723 |                0 | AGAINST     |                                   564723 | FOR                         |  |
| Tractor Supply Company              | 892356106 | 09/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         108074 |                0 | FOR         |                                   108074 | FOR                         |  |
| Union Pacific Corporation           | 907818108 | 09/05/2024     | Submit Severance Agreement (Change-in-Control) to Shareholder Vote             | SECTION 14A SAY-ON-PAY VOTES |         161739 |                0 | FOR         |                                   161739 | AGAINST                     |  |
| Tenet Healthcare Corporation        | 88033G407 | 22/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Fortinet, Inc.                      | 34959E109 | 14/06/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| The Goldman Sachs Group, Inc.       | 38141G104 | 24/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         438279 |                0 | AGAINST     |                                   438279 | FOR                         |  |
| Exxon Mobil Corporation             | 30231G102 | 29/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Johnson  Johnson                    | 478160104 | 25/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         207244 |                0 | FOR         |                                   207244 | FOR                         |  |
| Packaging Corporation of America    | 695156109 | 08/05/2024     | Amend Omnibus Stock Plan                                                       | SECTION 14A SAY-ON-PAY VOTES |         304888 |                0 | AGAINST     |                                   304888 | FOR                         |  |
| Pan American Silver Corp.           | 697900108 | 08/05/2024     | Advisory Vote on Executive Compensation Approach                               | SECTION 14A SAY-ON-PAY VOTES |          19011 |                0 | FOR         |                                    19011 | FOR                         |  |
| Paycom Software, Inc.               | 70432V102 | 29/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Ormat Technologies, Inc.            | 686688102 | 08/05/2024     | Amend Omnibus Stock Plan                                                       | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| The Kroger Co.                      | 501044101 | 27/06/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |        2448816 |                0 | FOR         |                                  2448816 | FOR                         |  |
| Moody's Corporation                 | 615369105 | 16/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| American Express Company            | 025816109 | 06/05/2024     | Submit Severance Agreement to Shareholder Vote                                 | SECTION 14A SAY-ON-PAY VOTES |         771898 |                0 | FOR         |                                   771898 | AGAINST                     |  |
| American Express Company            | 025816109 | 06/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         325997 |                0 | AGAINST     |                                   325997 | FOR                         |  |
| The Coca-Cola Company               | 191216100 | 01/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Array Technologies, Inc.            | 04271T100 | 21/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Dominion Energy, Inc.               | 25746U109 | 07/05/2024     | Approve Omnibus Stock Plan                                                     | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Micron Technology, Inc.             | 595112103 | 18/01/2024     | Submit Severance Agreement (Change-in-Control) to Shareholder Vote             | SECTION 14A SAY-ON-PAY VOTES |        1433268 |                0 | FOR         |                                  1433268 | AGAINST                     |  |
| Alphabet Inc.                       | 02079K305 | 07/06/2024     | Amend Bylaw regarding Stockholder Approval of Director Compensation            | SECTION 14A SAY-ON-PAY VOTES |        1143096 |                0 | AGAINST     |                                  1143096 | AGAINST                     |  |
| The Coca-Cola Company               | 191216100 | 01/05/2024     | Approve Omnibus Stock Plan                                                     | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Barrick Gold Corporation            | 067901108 | 30/04/2024     | Advisory Vote on Executive Compensation Approach                               | SECTION 14A SAY-ON-PAY VOTES |        2498112 |                0 | FOR         |                                  2498112 | FOR                         |  |
| Bloom Energy Corporation            | 093712107 | 07/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Sunnova Energy International, Inc.  | 86745K104 | 15/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Shoals Technologies Group, Inc.     | 82489W107 | 02/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Align Technology, Inc.              | 016255101 | 22/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Aflac Incorporated                  | 001055102 | 06/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         960640 |            74743 | AGAINST     |                                   960640 | FOR                         |  |
| Select Medical Holdings Corporation | 81619Q105 | 25/04/2024     | Amend Omnibus Stock Plan                                                       | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Teradyne, Inc.                      | 880770102 | 09/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         188634 |                0 | FOR         |                                   188634 | FOR                         |  |
| KLA Corporation                     | 482480100 | 01/11/2023     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         229362 |                0 | FOR         |                                   229362 | FOR                         |  |
| KLA Corporation                     | 482480100 | 01/11/2023     | Advisory Vote on Say on Pay Frequency                                          | SECTION 14A SAY-ON-PAY VOTES |         229362 |                0 | ABSTAIN     |                                   229362 | NONE                        |  |
| Packaging Corporation of America    | 695156109 | 08/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         776966 |                0 | FOR         |                                   776966 | FOR                         |  |
| Newmont Corporation                 | 651639106 | 24/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         206242 |                0 | FOR         |                                   206242 | FOR                         |  |
| Pfizer Inc.                         | 717081103 | 25/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| NVIDIA Corporation                  | 67066G104 | 26/06/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Lowe's Companies, Inc.              | 548661107 | 31/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Alphabet Inc.                       | 02079K305 | 07/06/2024     | Amend Bylaw regarding Stockholder Approval of Director Compensation            | SECTION 14A SAY-ON-PAY VOTES |         448118 |                0 | AGAINST     |                                   448118 | AGAINST                     |  |
| CSX Corporation                     | 126408103 | 08/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |        4587599 |                0 | FOR         |                                  4587599 | FOR                         |  |
| CSX Corporation                     | 126408103 | 08/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |        1509037 |                0 | FOR         |                                  1509037 | FOR                         |  |
| CVS Health Corporation              | 126650100 | 16/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| TE Connectivity Ltd.                | H84989104 | 13/03/2024     | Approve Remuneration of Executive Management in the Amount of USD 61.2 million | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| AT Inc.                             | 00206R102 | 16/05/2024     | Amend Clawback Policy                                                          | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | AGAINST                     |  |
| Amazon.com, Inc.                    | 023135106 | 22/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Tractor Supply Company              | 892356106 | 09/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         170469 |            54296 | FOR         |                                   170469 | FOR                         |  |
| Dominion Energy, Inc.               | 25746U109 | 07/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Meta Platforms, Inc.                | 30303M102 | 29/05/2024     | Amend Omnibus Stock Plan                                                       | SECTION 14A SAY-ON-PAY VOTES |         130573 |                0 | AGAINST     |                                   130573 | FOR                         |  |
| KLA Corporation                     | 482480100 | 01/11/2023     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |          25237 |                0 | FOR         |                                    25237 | FOR                         |  |
| Duke Energy Corporation.            | 26441C204 | 09/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Plug Power Inc.                     | 72919P202 | 05/06/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Merck  Co., Inc.                    | 58933Y105 | 28/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Micron Technology, Inc.             | 595112103 | 18/01/2024     | Advisory Vote on Say on Pay Frequency                                          | SECTION 14A SAY-ON-PAY VOTES |        1433268 |                0 | ABSTAIN     |                                  1433268 | NONE                        |  |
| C.H. Robinson Worldwide, Inc.       | 12541W209 | 09/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Chevron Corporation                 | 166764100 | 29/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| TE Connectivity Ltd.                | H84989104 | 13/03/2024     | Approve Remuneration of Board of Directors in the Amount of USD 3.8 million    | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Agnico Eagle Mines Limited          | 008474108 | 26/04/2024     | Amend Incentive Share Purchase Plan                                            | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Aflac Incorporated                  | 001055102 | 06/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         425709 |                0 | AGAINST     |                                   425709 | FOR                         |  |
| Select Medical Holdings Corporation | 81619Q105 | 25/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| SolarEdge Technologies, Inc.        | 83417M104 | 05/06/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Sunrun, Inc.                        | 86771W105 | 18/06/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Teradyne, Inc.                      | 880770102 | 09/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         134598 |                0 | FOR         |                                   134598 | FOR                         |  |
| HP Inc.                             | 40434L105 | 22/04/2024     | Submit Severance Agreement (Change-in-Control) to Shareholder Vote             | SECTION 14A SAY-ON-PAY VOTES |        4621803 |                0 | FOR         |                                  4621803 | AGAINST                     |  |
| HP Inc.                             | 40434L105 | 22/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| HP Inc.                             | 40434L105 | 22/04/2024     | Submit Severance Agreement (Change-in-Control) to Shareholder Vote             | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | AGAINST                     |  |
| Enphase Energy, Inc.                | 29355A107 | 15/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Enphase Energy, Inc.                | 29355A107 | 15/05/2024     | Advisory Vote on Say on Pay Frequency                                          | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | NONE                        |  |
| Kellanova                           | 487836108 | 26/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Johnson  Johnson                    | 478160104 | 25/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         521600 |                0 | FOR         |                                   521600 | FOR                         |  |
| Mastercard Incorporated             | 57636Q104 | 18/06/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Packaging Corporation of America    | 695156109 | 08/05/2024     | Amend Omnibus Stock Plan                                                       | SECTION 14A SAY-ON-PAY VOTES |         776966 |                0 | AGAINST     |                                   776966 | FOR                         |  |
| The Coca-Cola Company               | 191216100 | 01/05/2024     | Approve Nonqualified Employee Stock Purchase Plan                              | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Barrick Gold Corporation            | 067901108 | 30/04/2024     | Advisory Vote on Executive Compensation Approach                               | SECTION 14A SAY-ON-PAY VOTES |        5798203 |                0 | FOR         |                                  5798203 | FOR                         |  |
| Elevance Health, Inc.               | 036752103 | 15/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| CVS Health Corporation              | 126650100 | 16/05/2024     | Amend Omnibus Stock Plan                                                       | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| TE Connectivity Ltd.                | H84989104 | 13/03/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| TE Connectivity Ltd.                | H84989104 | 13/03/2024     | Approve Omnibus Stock Plan                                                     | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Union Pacific Corporation           | 907818108 | 09/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         499602 |                0 | FOR         |                                   499602 | FOR                         |  |
| Union Pacific Corporation           | 907818108 | 09/05/2024     | Submit Severance Agreement (Change-in-Control) to Shareholder Vote             | SECTION 14A SAY-ON-PAY VOTES |         499602 |                0 | FOR         |                                   499602 | AGAINST                     |  |
| Thermo Fisher Scientific Inc.       | 883556102 | 22/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Stryker Corporation                 | 863667101 | 09/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| The Goldman Sachs Group, Inc.       | 38141G104 | 24/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         171367 |                0 | AGAINST     |                                   171367 | FOR                         |  |
| eBay Inc.                           | 278642103 | 20/06/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Meta Platforms, Inc.                | 30303M102 | 29/05/2024     | Amend Omnibus Stock Plan                                                       | SECTION 14A SAY-ON-PAY VOTES |         335570 |                0 | AGAINST     |                                   335570 | FOR                         |  |
| KLA Corporation                     | 482480100 | 01/11/2023     | Approve Omnibus Stock Plan                                                     | SECTION 14A SAY-ON-PAY VOTES |          25237 |                0 | AGAINST     |                                    25237 | FOR                         |  |
| Packaging Corporation of America    | 695156109 | 08/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         304888 |                0 | FOR         |                                   304888 | FOR                         |  |
| Littelfuse, Inc.                    | 537008104 | 25/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| American Express Company            | 025816109 | 06/05/2024     | Submit Severance Agreement to Shareholder Vote                                 | SECTION 14A SAY-ON-PAY VOTES |         325997 |                0 | FOR         |                                   325997 | AGAINST                     |  |
| CVS Health Corporation              | 126650100 | 16/05/2024     | Submit Severance Agreement (Change-in-Control) to Shareholder Vote             | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | AGAINST                     |  |
| AT Inc.                             | 00206R102 | 16/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| UnitedHealth Group Incorporated     | 91324P102 | 03/06/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Freeport-McMoRan, Inc.              | 35671D857 | 11/06/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| DaVita Inc.                         | 23918K108 | 06/06/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| HP Inc.                             | 40434L105 | 22/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |        4621803 |                0 | AGAINST     |                                  4621803 | FOR                         |  |
| HP Inc.                             | 40434L105 | 22/04/2024     | Amend Omnibus Stock Plan                                                       | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| KLA Corporation                     | 482480100 | 01/11/2023     | Approve Omnibus Stock Plan                                                     | SECTION 14A SAY-ON-PAY VOTES |         229362 |                0 | AGAINST     |                                   229362 | FOR                         |  |
| KLA Corporation                     | 482480100 | 01/11/2023     | Advisory Vote on Say on Pay Frequency                                          | SECTION 14A SAY-ON-PAY VOTES |          25237 |                0 | ABSTAIN     |                                    25237 | NONE                        |  |
| Duke Energy Corporation.            | 26441C204 | 09/05/2024     | Adopt Share Retention Policy For Senior Executives                             | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | AGAINST                     |  |
| Pan American Silver Corp.           | 697900108 | 08/05/2024     | Advisory Vote on Executive Compensation Approach                               | SECTION 14A SAY-ON-PAY VOTES |          30315 |                0 | FOR         |                                    30315 | FOR                         |  |
| Newmont Corporation                 | 651639106 | 24/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |           4325 |                0 | FOR         |                                     4325 | FOR                         |  |
| Newmont Corporation                 | 651639106 | 24/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Ormat Technologies, Inc.            | 686688102 | 08/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| The Kroger Co.                      | 501044101 | 27/06/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         969615 |                0 | FOR         |                                   969615 | FOR                         |  |
| Lowe's Companies, Inc.              | 548661107 | 31/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| Johnson Controls International plc  | G51502105 | 13/03/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| American Express Company            | 025816109 | 06/05/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         771898 |                0 | AGAINST     |                                   771898 | FOR                         |  |
| American Express Company            | 025816109 | 06/05/2024     | Amend Omnibus Stock Plan                                                       | SECTION 14A SAY-ON-PAY VOTES |         325997 |                0 | FOR         |                                   325997 | FOR                         |  |
| Applied Materials, Inc.             | 038222105 | 07/03/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 | ABSTAIN     |                                        0 | FOR                         |  |
| The Cigna Group                     | 125523100 | 24/04/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                 | SECTION 14A SAY-ON-PAY VOTES |         214317 |                0 | AGAINST     |                                   214317 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Maj Invest Holding A/S

**By (Signature):** /s/ Marianne Settnes

**By (Printed Signature):** /s/ Marianne Settnes

**By (Title):** General Counsel, Managing Director

**Date:** 08/11/2025