FOLKETRYGDFONDET

CIK

1269094

Location

Oslo, Q8

Portfolio Value

Mid $3,116,143,820

Diversification

Highly concentrated

Filing Date

Global Rank

#798 / 8,420 ▲ 75

Top Industry

Oil & Gas Integrated 79.0%

3Y Alpha vs SPY

-11.0%

Period ended 5 months ago

Filed Feb 12, 2026 · 4mo

24 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

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

Cloned portfolio

+30.8%

SPY

+76.5%

Annualised alpha

-11.5%

Max drawdown

−29.7%

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

7 positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025

Top Position

79.0%

+0.7 pts

Top 5

99.7%

−0.2 pts

Top 10

100.0%

0.0 pts

HHI

6,534

Highly concentrated+83

Portfolio Trend

24 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2025

Sector	% Portfolio	Value	Positions
Energy	80.1%	$2,495,155,576	3
Healthcare	16.9%	$526,185,800	3
Technology	3.0%	$94,802,444	1

Last Quarter's Activity

Export CSV

Dec 31, 2025 vs Sep 30, 2025

Added To

Positions the filer increased

1 positions

Ticker	Company	Δ Shares	Shares	Value	Open
TRMD	TORM plc	+151,563	238,662	$4,673,001
No positions match the current search.

Trimmed

Positions the filer reduced

4 positions

Ticker	Company	Δ Shares	Shares	Value
NOK	Nokia Corp	−2,727,911	14,652,619	$94,802,444
CMBT	Cmb.Tech NV	−2,671,519	2,829,165	$27,301,442
EQNR	Equinor ASA	−1,206,934	104,239,574	$2,463,181,133
NVO	Novo Nordisk A S	−47,776	10,164,137	$517,151,290
No positions match the current search.

New Positions

Positions the filer opened this quarter

1 positions

Ticker	Company	Shares	Value	Open
OCS	Oculis Holding AG	182,800	$3,650,516
No positions match the current search.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

7 positions · $3,116,143,820 total · as of Dec 31, 2025

All sectors Energy Healthcare Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
EQNR	Equinor ASA Energy	Reduced	104,239,574	-1,206,934	$2,463,181,133	−4.2%	79.05%
NVO	Novo Nordisk A S Healthcare	Reduced	10,164,137	-47,776	$517,151,290	−8.7%	16.60%
NOK	Nokia Corp Technology	Reduced	14,652,619	-2,727,911	$94,802,444	+13.4%	3.04%
CMBT	Cmb.Tech NV Energy	Reduced	2,829,165	-2,671,519	$27,301,442	−47.1%	0.88%
GMAB	Genmab A/S Healthcare	Held	174,805	0	$5,383,994	+0.4%	0.17%
TRMD	TORM plc Energy	Added	238,662	+151,563	$4,673,001	+160.2%	0.15%
OCS	Oculis Holding AG Healthcare	NEW	182,800	NEW	$3,650,516	NEW	0.12%