Initially, it is noted that the global stock market strengthened during the month. The Swedish market performed strongly, with large-cap companies developing well while small-caps saw a more modest but still positive rise.
In terms of sectors, telecom and raw materials performed best, while the financial sector showed a more cautious increase. The ongoing earnings season also contributed to the positive market climate, where Swedish engineering companies, among others, acted as a driving force.
Regarding the fund's specific performance, the largest positive contributions came from Sandvik, Industrivärden, and Addtech, which rose by 11.0, 10.8, and 10.1 percent respectively. On the negative side, Enity Holding, Engcon, and Vitrolife weighed on performance, falling by 26.3, 22.7, and 21.1 percent respectively during the month.
"The portfolio was boosted by heavy engineering names but lost ground in more niche small-cap holdings," the manager writes.
At the end of the month, the fund's three largest holdings were Sandvik, Epiroc, and Industrivärden, with portfolio weights of 4.49, 4.35, and 4.35 percent respectively.
| Indecap Guide Q30 C, % | February, 2026 |
| Fund MM, change in percent | 0.67 |
| Fund YTD, change in percent | -1.54 |
