NORDEA INVESTMENT MANAGEMENT AB
Long book
$107.20B
Q1 2026
Positions
864
Top-10 weight
30%
concentration
Last quarter
+16.1%
SPY +14.8%
Turnover
9%
of book per quarter
Strategy in plain words
auto-generated from filingsNORDEA INVESTMENT MANAGEMENT AB is an institutional manager, running a $107.20B US long book across 864 positions.
The portfolio is moderately concentrated (top 10 ≈ 30% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: NVIDIA CORP, APPLE INC, MICROSOFT CORP, AMAZON.COM INC, BROADCOM INC.
Over the last 9 quarters its long book ran on average 0.5pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.6%
Q2 2024
+6.6%
Q3 2024
+0.7%
Q4 2024
-3.5%
Q1 2025
+9.6%
Q2 2025
+7.0%
Q3 2025
+2.3%
Q4 2025
-4.4%
Q1 2026
+16.1%
Sector allocation
Technology 39%
Industrials 12%
Healthcare 11%
Consumer discretionary 9%
Financials 9%
Services media 7%
Utilities 5%
Other 3%
Long book by quarter
What does NORDEA INVESTMENT own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 40.5M | $6.88B | 6.4% | +0.1% |
| AAPL APPLE INC | Technology | 22.8M | $5.65B | 5.3% | +3.6% |
| MSFT MICROSOFT CORP | Technology | 13.5M | $4.91B | 4.6% | -4.7% |
| AMZN AMAZON.COM INC | Consumer discretionary | 15.2M | $3.12B | 2.9% | +9.7% |
| AVGO BROADCOM INC | Technology | 10.1M | $3.04B | 2.8% | +3.1% |
| GOOGL ALPHABET INC-CL A | Technology | 9.0M | $2.52B | 2.3% | -3.2% |
| GOOG ALPHABET INC-CL C | Technology | 8.8M | $2.47B | 2.3% | +2.9% |
| LLY ELI LILLY & CO | Healthcare | 1.5M | $1.33B | 1.2% | -1.2% |
| LRCX LAM RESEARCH CORP | Industrials | 6.2M | $1.27B | 1.2% | -16.4% |
| CSCO CISCO SYSTEMS INC | Technology | 16.5M | $1.27B | 1.2% | -4.0% |
| META META PLATFORMS INC-CLASS A | Technology | 2.3M | $1.26B | 1.2% | +0.9% |
| JNJ JOHNSON & JOHNSON | Healthcare | 4.7M | $1.14B | 1.1% | -14.2% |
| TJX TJX COMPANIES INC | Consumer discretionary | 7.2M | $1.13B | 1.1% | -3.7% |
| MA MASTERCARD INC - A | Services media | 2.3M | $1.12B | 1.0% | -4.5% |
| TT TRANE TECHNOLOGIES PLC | Technology | 2.6M | $1.07B | 1.0% | +1.6% |
| JPM JPMORGAN CHASE & CO | Financials | 3.6M | $1.05B | 1.0% | +2.0% |
| MRK MERCK & CO. INC. | Healthcare | 8.5M | $1.02B | 1.0% | -19.3% |
| ABBV ABBVIE INC | Healthcare | 4.4M | $946.7M | 0.9% | +5.6% |
| NFLX NETFLIX INC | Services media | 9.9M | $937.5M | 0.9% | +2.8% |
| LIN LINDE PLC | Materials | 1.9M | $936.3M | 0.9% | -11.1% |
| C CITIGROUP INC | Financials | 8.2M | $899.2M | 0.8% | +2.4% |
| AMGN AMGEN INC | Healthcare | 2.5M | $876.3M | 0.8% | -3.2% |
| WAB WABTEC CORP | Industrials | 3.6M | $863.9M | 0.8% | +15.9% |
| AMD ADVANCED MICRO DEVICES | Technology | 4.3M | $857.1M | 0.8% | -1.4% |
| MCK MCKESSON CORP | Consumer discretionary | 988.0K | $841.9M | 0.8% | -7.8% |
| WM WASTE MANAGEMENT INC | Utilities | 3.5M | $793.7M | 0.7% | -1.8% |
| AXP AMERICAN EXPRESS CO | Financials | 2.5M | $759.1M | 0.7% | +2.8% |
| EMR EMERSON ELECTRIC CO | Industrials | 6.0M | $758.4M | 0.7% | -3.3% |
| V VISA INC-CLASS A SHARES | Services media | 2.5M | $732.3M | 0.7% | -10.2% |
| GILD GILEAD SCIENCES INC | Healthcare | 5.3M | $726.6M | 0.7% | +2.4% |
| NEE NEXTERA ENERGY INC | Utilities | 7.5M | $682.6M | 0.6% | +29.5% |
| ZTS ZOETIS INC | Healthcare | 5.9M | $679.8M | 0.6% | +18.9% |
| AMAT APPLIED MATERIALS INC | Technology | 2.0M | $675.0M | 0.6% | -8.9% |
| HCA HCA HEALTHCARE INC | Healthcare | 1.4M | $670.9M | 0.6% | +33.5% |
| MU MICRON TECHNOLOGY INC | Technology | 2.0M | $631.8M | 0.6% | +20.0% |
| EBAY EBAY INC | Services media | 6.7M | $597.0M | 0.6% | -5.2% |
| HIG HARTFORD INSURANCE GROUP INC | Financials | 4.4M | $591.6M | 0.6% | +0.9% |
| FTNT FORTINET INC | Technology | 6.9M | $554.1M | 0.5% | +0.1% |
| NEM NEWMONT CORP | Materials | 5.2M | $546.8M | 0.5% | +8.0% |
| GEV GE VERNOVA INC | Industrials | 632.9K | $534.1M | 0.5% | +6.4% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 10.7M | $530.7M | 0.5% | +48.4% |
| EXC EXELON CORP | Utilities | 10.3M | $499.0M | 0.5% | +27.8% |
| SNA SNAP-ON INC | Industrials | 1.4M | $492.4M | 0.5% | +4.8% |
| ANET ARISTA NETWORKS INC | Technology | 4.1M | $480.8M | 0.4% | +1.1% |
| RSG REPUBLIC SERVICES INC | Utilities | 2.2M | $472.4M | 0.4% | -5.5% |
| WFC WELLS FARGO & CO | Financials | 6.0M | $468.0M | 0.4% | +0.6% |
| PEP PEPSICO INC | Consumer staples | 3.0M | $459.7M | 0.4% | +10.2% |
| KR KROGER CO | Consumer discretionary | 6.3M | $458.2M | 0.4% | +21.7% |
| ECL ECOLAB INC | Other | 1.8M | $457.7M | 0.4% | +2.4% |
| CTAS CINTAS CORP | Other | 2.7M | $457.0M | 0.4% | +0.7% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 1994 | $107.20B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 8, 2026 | 1984 | $116.45B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 27, 2025 | 1956 | $114.17B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 29, 2025 | 1975 | $107.78B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 1977 | $94.69B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 6, 2025 | 2486 | $95.58B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 5, 2024 | 2494 | $88.04B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 8, 2024 | 1056 | $85.23B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 2, 2024 | 1037 | $84.61B | canonical | SEC ↗ |
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