Initially, the managers write that Ericsson contributed the most to the fund's performance during the month. Following the company's latest report, several analysts are said to have revised their earnings estimates upwards. The managers also highlight that Ericsson mentioned the defense industry for the first time as a potentially interesting customer group, for example for systems that protect against drones.
"The company remains lowly valued and we see a good probability of a higher share price ahead, driven by both P/E ratio expansion and continued share buybacks," the managers write regarding the development in Ericsson.
In addition to Ericsson, the fund benefited from gains in Atlas Copco, Volvo, and Traton. On the negative side, only Novo Nordisk was found, which is explained by the pharmaceutical company presenting a more cautious view on the outlook for 2026.
The largest equity holdings in the fund's portfolio at the turn of the month were Atlas Copco, Alfa Laval, and Ericsson with portfolio weights of 9.4, 9.2, and 7.8 percent respectively.
| PriorNilsson Idea, % | February, 2026 |
| Fund MM, change in percent | 2.05 |
| Fund this year, change in percent | 2.99 |
