Ericsson was the largest positive contributor during the month. The fund's position amounts to just over 10 percent, and the manager states that the holding is intended to be maintained at these levels.
According to the manager, the software segment of Ericsson's business continued to perform strongly during the period. The manager also sees opportunities for the company within 5G standalone solutions and the defense industry.
'The company has an extremely low valuation, a strong balance sheet, and robust cash flow, which enables new buyback programs again next year. At the same time, we see a high probability of continued upward earnings revisions', the manager writes.
Other positive contributions came from Traton and Novo Nordisk.
On the negative side was Alfa Laval. Octave also performed weakly initially following its listing, as several shareholders chose to sell the position distributed from Hexagon.
Net equity exposure amounted to 67.6 percent at the end of May.
The largest holdings in the fund's portfolio at month-end were Ericsson, Alfa Laval, and Atlas Copco, with weightings of 10.1, 7.8, and 7.5 percent respectively.
| PriorNilsson Idea, % | May, 2026 |
| Fund MTD, percentage change | 2.25 |
| Fund YTD, percentage change | 4.0 |
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