Positive contributions came notably from Catena, Warehouses De Pauw, and NP3 Fastigheter.
During the period, the fund increased its exposure to Brinova, Prisma Properties, and Platzer. Genova was reintroduced into the portfolio, while holdings in, among others, Fortinova and Skanska were reduced.
Heading into the reporting period, property valuations for the sector as a whole are expected to remain largely unchanged. However, office properties in certain submarkets are still anticipated to show negative value changes, while industrial, logistics, and hotel properties already have the conditions to report positive revaluations in the annual reports.
A more pronounced impact on valuations is expected once the transaction market picks up in the spring, with a greater effect anticipated towards the summer.
Cash flow within the office segment is still described as challenging, as vacancies take time to fill. For higher-yielding segments, the outlook is considered stable to strong, and several listed companies in these areas are actively evaluating acquisitions, which contributes to profit growth.
The largest holdings in the fund's portfolio at the end of the month were Logistri, Eastnine, and Nyfosa, with weights of 8.6, 6.5, and 6.1 percent, respectively.
| PriorNilsson Fastighet, % | January, 2026 |
| Fund MM, change in percent | -0.8 |
| Index MM, change in percent | -0.4 |
