Folketrygdfondet
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 2, 2025), Folketrygdfondet reported 10 stock positions worth $4.5 billion. Its top holding was Equinor ASA-Spon ADR (EQNR) at 64.8% of the portfolio, followed by Novo-Nordisk A/S-Spons ADR (NVO, 14.7%) and Cadeler - ISIN DK0061412772 (8.3%). Compared with Q4 2024, it sold out of 1, added to 3 and reduced 4. The biggest buy was Hafnia - ISIN BMG4233B1090 (shares −0%) and the biggest sale an exit from AstraZeneca - ISIN GB0009895292.
- Most Recent 13F
- Q2 2026
- Location
- OSLO, Q8
- CIK
- 0001269094
- Portfolio Value
- $4.5B (Q1 2025)
- SEC Filing
- 0001104659-25-043847 ↗ filed May 2, 2025
Holdings Value
Holdings 10 stocks · $4.5B
| EQNR Equinor ASA-Spon ADR | 64.77% | 109,948,331 | $2.9B | Reduce -1.4% |
| NVO Novo-Nordisk A/S-Spons ADR | 14.73% | 9,521,912 | $661.2M | Add +6.9% |
| Cadeler - ISIN DK0061412772 | 8.33% | 19,013,747 | $373.8M | Add +1.6% |
| FRONTLINE LTD | 4.08% | 12,347,224 | $183.4M | Reduce -5.2% |
| Hafnia - ISIN BMG4233B1090 | 2.89% | 31,152,071 | $129.6M | Add +0.0% |
| BW LPG - ISIN SGXZ69436764 | 2.11% | 8,689,503 | $94.5M | Reduce -6.0% |
| GOLDEN OCEAN GROUP LTD | 1.32% | 7,431,676 | $59.3M | Reduce -0.7% |
| NOK Nokia Corp.-Spon ADR | 1.20% | 10,251,290 | $54.0M | No change |
| FLNG Flex LNG Ltd. | 0.51% | 993,186 | $22.8M | No change |
| GMAB Genmab A/S -SP ADR | 0.07% | 170,385 | $3.3M | No change |
Portfolio Sells Q4 2024 → Q1 2025
| AstraZeneca - ISIN GB0009895292 | Sold out | 0.00% | −0.61 |
| BW LPG - ISIN SGXZ69436764 | Reduce -6.0% | 2.11% | −0.25 |
| GOLDEN OCEAN GROUP LTD | Reduce -0.7% | 1.32% | −0.19 |
| FRONTLINE LTD | Reduce -5.2% | 4.08% | −0.06 |
| EQNR Equinor ASA-Spon ADR | Reduce -1.4% | 64.77% | +5.47 |
Portfolio Buys Q4 2024 → Q1 2025
| Hafnia - ISIN BMG4233B1090 | Add +0.0% | 2.89% | −1.01 |
| Cadeler - ISIN DK0061412772 | Add +1.6% | 8.33% | −1.06 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +6.9% | 14.73% | −2.47 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 11 | $4.6B | EQNR, NVO, Cadeler - ISIN DK0061412772, FRONTLINE LTD, Hafnia - ISIN BMG4233B1090 |
| Q1 2026 | 11 | $5.6B | EQNR, Cadeler - ISIN DK0061412772, FRONTLINE LTD, NVO, Hafnia - ISIN BMG4233B1090 |
| Q4 2025 | 11 | $4.3B | EQNR, NVO, Cadeler - ISIN DK0061412772, FRONTLINE LTD, Hafnia - ISIN BMG4233B1090 |
| Q3 2025 | 10 | $4.3B | EQNR, NVO, Cadeler - ISIN DK0061412772, FRONTLINE LTD, Hafnia - ISIN BMG4233B1090 |
| Q2 2025 | 10 | $4.5B | EQNR, NVO, Cadeler - ISIN DK0061412772, FRONTLINE LTD, Hafnia - ISIN BMG4233B1090 |
| Q1 2025 | 10 | $4.5B | EQNR, NVO, Cadeler - ISIN DK0061412772, FRONTLINE LTD, Hafnia - ISIN BMG4233B1090 |
| Q4 2024 | 11 | $4.5B | EQNR, NVO, Cadeler - ISIN DK0061412772, FRONTLINE LTD, Hafnia - ISIN BMG4233B1090 |
| Q3 2024 | 12 | $5.1B | EQNR, NVO, Cadeler - ISIN DK0061412772, FRONTLINE LTD, Hafnia - ISIN BMG4233B1090 |
| Q2 2024 | 13 | $5.7B | EQNR, NVO, FRONTLINE LTD, Hafnia - ISIN BMG4233B1090, Cadeler - ISIN DK0061412772 |
| Q1 2024 | 11 | $4.6B | EQNR, NVO, FRONTLINE LTD, GOLDEN OCEAN GROUP LTD, BORR |