Nordea Investment Management AB

Nordea Investment Management AB employs an active, low-turnover value style, managing a broadly diversified portfolio of approximately 1,994 positions with a total AUM of $107.2 billion as of Q1 2026. The top 15 holdings account for just 34.7% of the fund, with Technology as the dominant sector at 31.8%, led by a 6.4% position in NVIDIA, followed by Apple and Microsoft at 5.3% and 4.6%, respectively. This concentrated exposure to mega-cap technology firms, alongside Healthcare (12.3%) and Industrials (10.4%), reveals a strong conviction in high-quality, cash-generative businesses despite a value label. The low turnover and narrow top-holdings concentration indicate a patient, long-term strategy focused on a handful of core positions while maintaining broad diversification across sectors to manage risk.