No, you don’t. The Major Terms list is not just an abbreviated version of the All Terms list, but they are in some respects genuinely different. The All Terms list does not include but single words.
If you want to have the best parts of both, I think you have to create a project list and copy into that what you want. A huge job, but the only way to do it, I am aware of, in case you want to have the All Terms list + the word combinations in the Major Terms list.