Andra Ap-Fonden Investment Activity Q1 2026

Major Portfolio Shifts in Q1 2026

This quarter, Andra Ap-Fonden's investment strategy resulted in a dynamic portfolio, with substantial buying and selling activities reported. The most significant purchase was a large increase in shares of Toronto Dominion Bank (TD), which now accounts for 0.54% of the portfolio. This represents a 100% increase in shares during the quarter.

Focus on Financial Services and Healthcare

Financial Services received considerable attention, with Andra Ap-Fonden adding significant exposure to TD and also increasing its stake in Nu Holdings Ltd Ord SHS (NU). The addition of TD suggests confidence in the Canadian financial sector, while the increase in NU points to interest in holdings related to holdings. In Healthcare, the investor significantly bolstered its position in Pfizer Inc. (PFE), adding 0.19% allocation, equivalent to nearly 196.56% growth in shares during the period.

Continued Interest in Technology and Consumer Stocks

Despite the focus on other sectors, Technology and Consumer Cyclical remain important parts of the portfolio. The investor maintained its top Technology holding, NVIDIA Corp (NVDA), which still holds a substantial 6.83% allocation. However, the position in Amazon (AMZN) saw a decrease, reflecting a reduction in exposure to Consumer Cyclical stocks. New positions were initiated in companies like Grab Holdings Limited Class A (GRAB) and Rivian Automotive Inc. (RIVN), although these currently represent very small allocations (0.07% and 0.08%, respectively).

Strategic Reductions in Certain Tech and Industrials

Conversely, the investor reduced its positions in several large-cap Technology and other sectors. HP Inc. (HPQ) experienced a significant 88.39% reduction in its stake, while ON Semiconductor (ON) saw an 85.61% decrease. The position in Best Buy (BBY) was drastically cut by 95.44%. Additionally, the investor exited its position in Deutsche Bank AG (DB), which now holds 0.0% allocation.

Overall Portfolio Context

The changes observed in Q1 2026 reflect a proactive approach by Andra Ap-Fonden. The portfolio now includes 391 holdings, with Technology remaining the largest sector allocation at 38.5%, followed by Healthcare (11.16%) and Financial Services (11.07%). The Technology sector also includes a new position in Nu Holdings Ltd Ord SHS (NU), adding another layer to the investor's tech holdings. These moves highlight the investor's focus on specific growth areas while strategically reducing exposure in others.

The detailed changes can be explored further on the investor's profile page at Andra Ap-Fonden and by looking up individual stock positions at Andra Ap-Fonden's stock holdings. The full list of holdings and their changes is available in the filing data.