Folketrygdfondet
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Folketrygdfondet reported 10 stock positions worth $4.5 billion. Its top holding was Equinor ASA-Spon ADR (EQNR) at 62.9% of the portfolio, followed by Novo-Nordisk A/S-Spons ADR (NVO, 15.5%) and Cadeler - ISIN DK0061412772 (8.6%). Compared with Q1 2025, it added to 7 and reduced 2. The biggest buy was Novo-Nordisk A/S-Spons ADR (NVO, shares +6%) and the biggest sale Flex LNG (FLNG, shares −47%).
- Most Recent 13F
- Q2 2026
- Location
- OSLO, Q8
- CIK
- 0001269094
- Portfolio Value
- $4.5B (Q2 2025)
- SEC Filing
- 0001104659-25-076708 ↗ filed Aug 12, 2025
Holdings Value
Holdings 10 stocks · $4.5B
| EQNR Equinor ASA-Spon ADR | 62.92% | 112,264,246 | $2.8B | Add +2.1% |
| NVO Novo-Nordisk A/S-Spons ADR | 15.53% | 10,094,543 | $696.7M | Add +6.0% |
| Cadeler - ISIN DK0061412772 | 8.61% | 19,445,966 | $386.4M | Add +2.3% |
| FRONTLINE LTD | 4.62% | 12,627,901 | $207.2M | Add +2.3% |
| Hafnia - ISIN BMG4233B1090 | 3.54% | 31,860,217 | $159.0M | Add +2.3% |
| BW LPG - ISIN SGXZ69436764 | 2.02% | 7,669,132 | $90.7M | Reduce -11.7% |
| GOLDEN OCEAN GROUP LTD | 1.21% | 7,431,676 | $54.4M | No change |
| NOK Nokia Corp.-Spon ADR | 1.19% | 10,430,043 | $53.4M | Add +1.7% |
| FLNG Flex LNG Ltd. | 0.26% | 526,452 | $11.6M | Reduce -47.0% |
| GMAB Genmab A/S -SP ADR | 0.08% | 172,796 | $3.6M | Add +1.4% |
Portfolio Sells Q1 2025 → Q2 2025
| FLNG Flex LNG Ltd. | Reduce -47.0% | 0.26% | −0.25 |
| BW LPG - ISIN SGXZ69436764 | Reduce -11.7% | 2.02% | −0.08 |
Portfolio Buys Q1 2025 → Q2 2025
| NVO Novo-Nordisk A/S-Spons ADR | Add +6.0% | 15.53% | +0.81 |
| Hafnia - ISIN BMG4233B1090 | Add +2.3% | 3.54% | +0.66 |
| FRONTLINE LTD | Add +2.3% | 4.62% | +0.54 |
| Cadeler - ISIN DK0061412772 | Add +2.3% | 8.61% | +0.29 |
| GMAB Genmab A/S -SP ADR | Add +1.4% | 0.08% | +0.01 |
| NOK Nokia Corp.-Spon ADR | Add +1.7% | 1.19% | −0.01 |
| EQNR Equinor ASA-Spon ADR | Add +2.1% | 62.92% | −1.84 |
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 |