Initially, the managers note that April was characterized by an initial ceasefire between the US and Iran, which led global equity markets to start the month on a positive note. A continued closure of the Strait of Hormuz subsequently pushed up oil prices, causing stock markets to pull back slightly, although they closed at higher levels than at the start of the month.
Furthermore, a positive start to the US reporting season is highlighted. In the Swedish market, the outcome was more mixed, with SSAB and Boliden exceeding expectations.
The main contributors to the fund's return during the month were Gränges, Mycronic, Beijer Alma, and Nordnet.
'Gränges rose over 18 percent and was the single largest positive contributor,' the manager writes.
On the negative side were Axfood, RVRC, Tele2, and Synsam.
Regarding portfolio activity, the fund increased its exposure to Trelleborg, Lagercrantz, Mycronic, Rusta, and Addtech. At the same time, holdings in Tele2, Axfood, RVRC, Sveafastigheter, and Cibus were reduced.
At the end of the month, the fund's three largest equity holdings were Securitas, Nordnet, and Axfood, with portfolio weights of 6.0, 6.0, and 4.6 percent, respectively.
Geographically, the fund's focus remained on Sweden with 94.0 percent of the allocation, followed by Norway and Finland with 2.6 and 2.1 percent, respectively.
| Simplicity Småbolag Sverige A, % | April, 2026 |
| Fund M/M, change in percent | 2.1 |
| Fund YTD, change in percent | 0.1 |
