Folketrygdfondet
Folketrygdfondet is a Norwegian asset management firm founded in 1967 and headquartered in Oslo, Norway. It manages the Government Pension Fund Norway (GPFN), a sovereign wealth fund distinct from the global mandate managed by Norges Bank. Folketrygdfondet invests primarily in publicly traded equities and fixed income instruments in Norway (about 85%) and the broader Nordic region (15%), operating under a mandate from the Norwegian Ministry of Finance. The firm is known for its active ownership, stabilizing presence in the Norwegian financial markets, and employs a team of roughly 50 professionals. Its mission focuses on responsible investing for long-term return and market stability, serving as a significant institutional investor primarily on the Oslo Stock Exchange.
Investment Strategy
Folketrygdfondet primarily adopts an active management strategy focused on achieving the highest possible long-term returns from its investment universe, which is largely comprised of Norwegian and Nordic equities and fixed income. The fund follows a benchmark allocation of approximately 60% equities and 40% fixed income, with a heavy domestic tilt mandated by its government mandate. Its investment strategy emphasizes responsible ownership, with significant stakes in its portfolio companies, enabling it to engage through active ownership. The fund aims for countercyclical action—buying when others are selling—to stabilize markets. Folketrygdfondet adheres closely to its custom benchmark (with a maximum 3% tracking error) and can occasionally invest in unlisted companies preparing for a stock exchange listing. The portfolio is highly concentrated with significant positions in major Norwegian companies.
Top Holdings
Equity Positions (6)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
E EQNR | Equinor ASA - COM ISIN NO0010096985 | 62.92% | $2.82B | 112,264,246 | $33.40 | $25.14 | -$85.8M |
N NVO | Novo-Nordisk A S - COM ISIN DK0062498333 | 15.53% | $696.7M | 10,094,543 | $57.76 | $69.02 | +$35.5M |
G GOGL | Golden Ocean Group Ltd. - COM ISIN BMG396372051 | 1.21% | $54.4M | 7,431,676 | $10.84 | $7.32 | -$4.9M |
N NOK | Nokia Corp - COM ISIN FI0009000681 | 1.19% | $53.4M | 10,430,043 | $4.57 | $5.18 | -$593.3K |
F FLNG | Flex LNG Ltd - COM ISIN BMG359472021 | 0.26% | $11.6M | 526,452 | $27.56 | $21.98 | -$11.3M |