NORDEA INVESTMENT MANAGEMENT AB

CIK

1218210

Location

STOCKHOLM, V7

Portfolio Value

Mega $105,618,808,346

Diversification

Diversified

Filing Date

Global Rank

#78 / 8,603 ▼ 3 · as of Mar 2026

Top Industry

Semiconductors 11.9%

3Y Alpha vs SPY

-4.1%

Period ended 3 months ago

Filed May 13, 2026 · 57d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+58.4%

SPY

+76.5%

Annualised alpha

-4.3%

Max drawdown

−17.5%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

857 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

6.7%

−0.1 pts

Top 5

22.9%

−1.2 pts

Top 10

30.3%

−1.6 pts

HHI

157

Diversified−13

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	33.7%	$35,552,482,614	165
Healthcare	12.8%	$13,551,136,212	110
Industrials	12.7%	$13,384,520,414	128
Financial Services	11.1%	$11,769,340,061	118
Consumer Cyclical	9.1%	$9,648,419,986	104
Communication Services	6.4%	$6,764,505,165	44
Consumer Defensive	4.7%	$5,002,038,047	43
Basic Materials	3.5%	$3,695,528,056	31
Utilities	3.0%	$3,122,696,401	36
Real Estate	2.0%	$2,068,362,164	48
Energy	0.9%	$932,562,537	29
Unclassified	0.1%	$127,216,689	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
VZ	Verizon Communications Inc	+3,474,595	10,650,883	$534,674,325
EXC	Exelon Corp	+2,234,234	10,282,589	$504,052,512
BMY	Bristol Myers Squibb Co	+1,832,750	2,033,068	$123,305,573
NEE	Nextera Energy Inc	+1,698,278	7,461,725	$693,045,016
GFL	GFL Environmental Inc.	+1,591,014	8,264,968	$344,814,463
KHC	Kraft Heinz Co	+1,495,689	15,297,142	$344,032,722
DELL	Dell Technologies Inc.	+1,396,914	2,172,566	$356,583,256
BDN	Brandywine Realty Trust	+1,392,991	3,104,735	$8,413,831
AMZN	Amazon Com Inc	+1,348,998	15,241,940	$3,174,438,842
DG	Dollar General Corp	+1,324,851	1,633,674	$193,966,113
BSX	Boston Scientific Corp	+1,182,755	1,330,037	$83,459,821
KR	Kroger Co	+1,128,805	6,333,792	$458,313,187
DOW	Dow Inc.	+1,126,142	1,198,621	$49,922,564
GEHC	GE HealthCare Technologies Inc.	+1,116,949	1,401,293	$99,744,035
DAL	Delta Air Lines, Inc.	+1,104,837	1,210,880	$80,499,301
SFM	Sprouts Farmers Market, Inc.	+1,087,487	3,410,703	$263,067,520
GPN	Global Payments Inc	+995,041	2,993,373	$201,454,000
ZTS	Zoetis Inc.	+932,324	5,865,111	$693,314,769
MDLZ	Mondelez International, Inc.	+930,665	3,082,033	$177,648,380
TOST	Toast, Inc.	+911,945	2,219,103	$58,828,420
PINS	Pinterest, Inc.	+796,625	6,098,505	$111,846,580
AAPL	Apple Inc.	+796,506	22,832,186	$5,794,580,484
DLTR	Dollar Tree, Inc.	+792,123	1,650,759	$180,774,616
PCG	PG&E Corp	+790,794	1,024,984	$18,008,968
OC	Owens Corning	+783,626	1,126,860	$121,948,787
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
HPE	Hewlett Packard Enterprise Co	−6,888,966	596,684	$14,207,046
CL	Colgate Palmolive Co	−3,495,538	1,171,760	$99,869,103
PYPL	PayPal Holdings, Inc.	−2,832,597	421,617	$19,069,736
WY	Weyerhaeuser Co	−2,327,137	43,300	$1,057,819
MRK	Merck & Co., Inc.	−2,045,828	8,527,993	$1,025,832,277
CGNX	Cognex Corp	−1,959,965	6,141,618	$300,877,864
INTC	Intel Corp	−1,669,073	1,114,266	$49,172,557
TMUS	T-Mobile US, Inc.	−1,657,469	376,823	$79,144,134
EW	Edwards Lifesciences Corp	−1,617,731	2,024,887	$162,152,949
VLTO	Veralto Corp	−1,507,715	2,557,354	$226,121,239
YMM	Full Truck Alliance Co. Ltd.	−1,354,367	972,191	$8,069,184
EQH	Equitable Holdings, Inc.	−1,306,868	2,661,117	$98,754,051
FIS	Fidelity National Information Services, Inc.	−1,291,389	148,821	$6,981,191
LRCX	Lam Research Corp	−1,213,754	6,189,689	$1,322,488,950
UBER	Uber Technologies, Inc	−1,160,189	3,131,167	$225,224,841
DOCU	Docusign, Inc.	−1,159,307	39,327	$1,864,493
INFY	Infosys Ltd	−956,937	1,307,794	$17,668,295
JNJ	Johnson & Johnson	−776,444	4,684,008	$1,144,958,914
PGR	Progressive Corp/Oh/	−773,544	361,786	$71,720,456
RRX	Regal Rexnord Corp	−732,450	1,174,145	$219,870,391
PAYX	Paychex Inc	−721,303	436,182	$40,181,085
FAST	Fastenal Co	−702,204	2,703,696	$125,451,492
CSCO	Cisco Systems, Inc.	−694,455	16,476,809	$1,278,435,608
NOW	ServiceNow, Inc.	−691,826	4,014,338	$419,699,036
SPSC	Sps Commerce Inc	−678,736	537,906	$29,945,226
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
FSLY	Fastly, Inc.	2,058,580	$59,822,333
MZTI	Marzetti Co	200,410	$27,722,712
WDFC	Wd 40 Co	100,932	$20,584,070
SNDK	Sandisk Corp	26,797	$17,025,205
HSAI	Hesai Group	596,255	$11,400,394
CRS	Carpenter Technology Corp	26,326	$10,376,392
ASH	Ashland Inc.	160,069	$8,901,436
RVTY	Revvity, Inc.	88,179	$7,725,361
AVA	Avista Corp	165,934	$6,660,589
BMRN	Biomarin Pharmaceutical Inc	113,902	$6,434,323
PTGX	Protagonist Therapeutics, Inc	51,821	$5,461,932
AGX	Argan Inc	9,985	$5,438,329
LITE	Lumentum Holdings Inc.	7,550	$5,305,837
TAL	TAL Education Group	455,784	$5,182,263
RWT	Redwood Trust Inc	877,380	$4,922,101
CALY	Callaway Golf Co	351,012	$4,872,045
TECH	BIO-TECHNE Corp	84,951	$4,439,538
GPK	Graphic Packaging Holding Co	438,772	$4,361,393
COHR	Coherent Corp.	16,058	$3,825,176
CDRE	Cadre Holdings, Inc.	118,048	$3,621,711
ALHC	Alignment Healthcare, Inc.	174,983	$3,083,199
FTAI	FTAI Aviation Ltd.	11,295	$2,767,275
TPC	Tutor Perini Corp	34,148	$2,635,883
HALO	Halozyme Therapeutics, Inc.	38,991	$2,519,988
Q	Qnity Electronics, Inc.	21,577	$2,489,554
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
WK	Workiva Inc	1,290,923	$111,342,108
BAX	Baxter International Inc	3,102,781	$59,294,142
GTLB	Gitlab Inc.	993,011	$37,267,702
MTCH	Match Group, Inc.	956,047	$30,870,757
PAYC	Paycom Software, Inc.	190,276	$30,322,382
EXLS	ExlService Holdings, Inc.	552,242	$23,437,147
EGP	Eastgroup Properties Inc	72,308	$12,880,946
TEX	Terex Corp	154,952	$8,271,337
CABO	Cable One, Inc.	72,159	$8,143,143
NTST	NETSTREIT Corp.	436,728	$7,703,881
BRC	Brady Corp	85,424	$6,694,678
PR	Permian Resources Corp	419,100	$5,879,972
SOLS	Solstice Advanced Materials Inc.	114,265	$5,550,993
INTA	Intapp, Inc.	112,353	$5,148,014
NSP	Insperity, Inc.	100,680	$3,898,329
BMBL	Bumble Inc.	1,032,325	$3,685,399
MASI	Masimo Corp	28,319	$3,683,169
WKC	World Kinect Corp	123,508	$2,893,791
RDY	Dr Reddys Laboratories Ltd	146,269	$2,053,616
CAVA	Cava Group, Inc.	31,169	$1,829,307
SJM	J M SMUCKER Co	18,131	$1,773,393
MGPI	Mgp Ingredients Inc	63,111	$1,533,596
DT	Dynatrace, Inc.	31,120	$1,348,740
AKBA	Akebia Therapeutics, Inc.	752,106	$1,210,890
ELS	Equity Lifestyle Properties Inc	16,914	$1,025,157
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

857 positions · $105,618,808,346 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 857 positions by value · page 1 of 18

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NVDA	Nvidia Corp Technology	Added	40,462,358	+38,487	$7,056,635,233	−6.4%	6.68%
AAPL	Apple Inc. Technology	Added	22,832,186	+796,506	$5,794,580,484	−3.3%	5.49%
MSFT	Microsoft Corp Technology	Reduced	13,520,853	-673,649	$5,005,014,153	−27.1%	4.74%
AMZN	Amazon Com Inc Consumer Cyclical	Added	15,241,940	+1,348,998	$3,174,438,842	−1.0%	3.01%
AVGO	Broadcom Inc. Technology	Added	10,119,987	+305,230	$3,132,237,174	−7.8%	2.97%
GOOGL	Alphabet Inc. Communication Services	Reduced	8,970,240	-292,985	$2,579,482,213	−11.0%	2.44%
LLY	ELI LILLY & Co Healthcare	Reduced	1,461,892	-18,085	$1,344,604,404	−15.5%	1.27%
LRCX	Lam Research Corp Technology	Reduced	6,189,689	-1,213,754	$1,322,488,950	+4.4%	1.25%
META	Meta Platforms, Inc. Communication Services	Added	2,276,285	+20,549	$1,302,330,935	−12.5%	1.23%
CSCO	Cisco Systems, Inc. Technology	Reduced	16,476,809	-694,455	$1,278,435,608	−3.3%	1.21%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Reduced	7,203,304	-275,859	$1,150,367,647	+0.1%	1.09%
JNJ	Johnson & Johnson Healthcare	Reduced	4,684,008	-776,444	$1,144,958,914	+1.3%	1.08%
MA	Mastercard Inc Financial Services	Reduced	2,270,171	-108,023	$1,134,313,640	−16.5%	1.07%
TT	Trane Technologies plc Industrials	Added	2,627,610	+41,104	$1,095,030,188	+8.8%	1.04%
JPM	Jpmorgan Chase & Co Financial Services	Added	3,636,099	+70,053	$1,069,594,881	−6.9%	1.01%
MRK	Merck & Co., Inc. Healthcare	Reduced	8,527,993	-2,045,828	$1,025,832,277	−7.8%	0.97%
NFLX	Netflix Inc Communication Services	Added	9,934,579	+266,582	$955,209,770	+5.4%	0.90%
ABBV	AbbVie Inc. Healthcare	Added	4,382,783	+232,824	$953,211,472	+0.5%	0.90%
LIN	Linde PLC Basic Materials	Reduced	1,888,023	-236,859	$936,006,280	+3.3%	0.89%
C	Citigroup Inc Financial Services	Added	8,177,992	+191,585	$927,466,071	−0.5%	0.88%
WAB	Westinghouse Air Brake Technologies Corp Industrials	Added	3,555,877	+486,537	$888,649,220	+35.6%	0.84%
AMGN	Amgen Inc Healthcare	Reduced	2,519,147	-81,988	$886,361,870	+4.1%	0.84%
AMD	Advanced Micro Devices Inc Technology	Reduced	4,302,573	-59,744	$875,272,424	−6.3%	0.83%
MCK	Mckesson Corp Healthcare	Reduced	988,046	-83,687	$855,015,484	−2.7%	0.81%
WM	Waste Management Inc Industrials	Reduced	3,467,788	-63,112	$796,863,003	+2.7%	0.75%
EMR	Emerson Electric Co Industrials	Reduced	5,976,070	-201,271	$782,984,690	−4.5%	0.74%
AXP	American Express Co Financial Services	Added	2,543,962	+69,599	$769,497,624	−15.9%	0.73%
V	Visa Inc. Financial Services	Reduced	2,462,321	-281,161	$744,211,897	−22.7%	0.70%
GILD	Gilead Sciences, Inc. Healthcare	Added	5,260,363	+121,664	$733,136,789	+16.2%	0.69%
AMAT	Applied Materials Inc /De Technology	Reduced	2,043,289	-198,726	$698,375,746	+21.2%	0.66%
ZTS	Zoetis Inc. Healthcare	Added	5,865,111	+932,324	$693,314,769	+11.7%	0.66%
NEE	Nextera Energy Inc Utilities	Added	7,461,725	+1,698,278	$693,045,016	+49.8%	0.66%
HCA	HCA Healthcare, Inc. Healthcare	Added	1,447,549	+362,959	$685,038,088	+35.3%	0.65%
MU	Micron Technology Inc Technology	Added	1,958,105	+326,956	$661,526,192	+42.1%	0.63%
EBAY	Ebay Inc Consumer Cyclical	Reduced	6,652,707	-363,174	$605,529,389	−0.9%	0.57%
HIG	Hartford Insurance Group, Inc. Financial Services	Added	4,427,559	+38,230	$598,738,802	−1.0%	0.57%
FTNT	Fortinet, Inc. Technology	Added	6,913,716	+8,042	$564,988,869	+3.0%	0.53%
NEM	NEWMONT Corp /DE/ Basic Materials	Added	5,165,621	+380,844	$559,178,472	+17.0%	0.53%
GEV	GE Vernova Inc. Industrials	Added	632,877	+38,128	$552,438,333	+42.1%	0.52%
VZ	Verizon Communications Inc Communication Services	Added	10,650,883	+3,474,595	$534,674,325	+82.9%	0.51%
EQIX	Equinix Inc Real Estate	Added	543,920	+16,926	$533,172,139	+32.1%	0.50%
EXC	Exelon Corp Utilities	Added	10,282,589	+2,234,234	$504,052,512	+43.7%	0.48%
ANET	Arista Networks, Inc. Technology	Added	4,064,100	+42,586	$498,990,196	−5.3%	0.47%
SNA	Snap-on Inc Industrials	Added	1,373,694	+63,496	$498,953,134	+10.5%	0.47%
WFC	Wells Fargo & Company/Mn Financial Services	Added	6,018,502	+35,943	$479,132,942	−14.1%	0.45%
RSG	Republic Services, Inc. Industrials	Reduced	2,163,016	-125,620	$473,743,762	−2.3%	0.45%
ECL	Ecolab Inc. Basic Materials	Added	1,759,281	+40,648	$468,003,931	+3.7%	0.44%
CTAS	Cintas Corp Industrials	Added	2,747,355	+17,961	$464,687,623	−9.5%	0.44%
PEP	Pepsico Inc Consumer Defensive	Added	2,963,383	+274,923	$460,183,744	+19.3%	0.44%
KR	Kroger Co Consumer Defensive	Added	6,333,792	+1,128,805	$458,313,187	+40.9%	0.43%