CIK 1269094
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Oil, Gas & Consumable Fuels | 70.03% | 1 |
| Unclassified | 22.05% | 7 |
| Pharmaceuticals & Biotechnology | 6.00% | 2 |
| Communications Equipment | 1.92% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | EQNR | Equinor ASA | Energy | 70.03% |
| 2 | Cadeler - ISIN DK0061412772 | Unclassified | 7.71% | |
| 3 | Frontline Ltd. - COM ISIN BMG3682E1921 | Unclassified | 6.64% | |
| 4 | NVO | NOVO NORDISK A S | Health Care | 5.92% |
| 5 | Hafnia - ISIN BMG4233B1090 | Unclassified | 3.86% | |
| 6 | BW LPG - ISIN SGXZ69436764 | Unclassified | 2.92% | |
| 7 | NOK | Nokia Corp | Information Technology | 1.92% |
| 8 | CMBT | CMB.TECH NV | Unclassified | 0.62% |
| 9 | OCS | OCULIS HOLDING AG | Unclassified | 0.15% |
| 10 | TRMD | TORM PLC | Unclassified | 0.14% |
4/11 names classified · sector 77.9% of weight · industry 77.9% · mkt cap 0.0%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 77.9% of the book is sector-classified (unclassified names shown, never dropped).
Only 0% of book weight classified — the grid is NOT representative of the whole book.
Classified: 0.0% of book weight (0/8 names) · unclassified 100.0%: EQNR, , NVO, NOK, CMBT, OCS, TRMD, GMAB. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | EQNREQUINOR ASA | 93,516,237 | $3.9B | 70.0% | TRIM −10% |
| 2 | Cadeler - ISIN DK0061412772 | 18,470,964 | $435M | 7.7% | TRIM −6% |
| 3 | Frontline Ltd. - COM ISIN BMG3682E1921 | 10,732,371 | $374M | 6.6% | TRIM −11% |
| 4 | NVONOVO-NORDISK A S | 9,080,820 | $334M | 5.9% | TRIM −11% |
| 5 | Hafnia - ISIN BMG4233B1090 | 28,628,679 | $218M | 3.9% | TRIM −11% |
| 6 | BW LPG - ISIN SGXZ69436764 | 9,483,691 | $165M | 2.9% | ADD 23% |
| 7 | NOKNOKIA CORP | 13,476,498 | $108M | 1.9% | TRIM −8% |
| 8 | CMBTCMB.TECH NV | 2,816,940 | $35M | 0.6% | HOLD |
| 9 | OCSOCULIS HOLDING AG | 319,556 | $8M | 0.2% | ADD 75% |
| 10 | TRMDTORM PLC | 285,570 | $8M | 0.1% | ADD 20% |
| 11 | GMABGENMAB A/S | 160,773 | $4M | 0.1% | TRIM −8% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| EQNREQUINOR ASA | 111.5M | 109.9M | 112.3M | 105.4M | 104.2M | 93.5M | $3.9B |
| Cadeler - ISIN DK0061412772 | 18.7M | 19.0M | 19.4M | 19.6M | 19.6M | 18.5M | $435M |
| Frontline Ltd. - COM ISIN BMG3682E1921 | 13.0M | 12.3M | 12.6M | 12.7M | 12.1M | 10.7M | $374M |
| NVONOVO-NORDISK A S | 8.9M | 9.5M | 10.1M | 10.2M | 10.2M | 9.1M | $334M |
| Hafnia - ISIN BMG4233B1090 | 31.2M | 31.2M | 31.9M | 32.1M | 32.0M | 28.6M | $218M |
| BW LPG - ISIN SGXZ69436764 | 9.2M | 8.7M | 7.7M | 7.7M | 7.7M | 9.5M | $165M |
| NOKNOKIA CORP | 10.3M | 10.3M | 10.4M | 17.4M | 14.7M | 13.5M | $108M |
| CMBTCMB.TECH NV | — | — | — | 5.5M | 2.8M | 2.8M | $35M |
| OCSOCULIS HOLDING AG | — | — | — | — | 183K | 320K | $8M |
| TRMDTORM PLC | — | — | — | 87K | 239K | 286K | $8M |
| GMABGENMAB A/S | 170K | 170K | 173K | 175K | 175K | 161K | $4M |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
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