The TIN Ny Teknik fund dropped by 11.9 percent in February, underperforming its benchmark index, which rose by 2.0 percent. Since the beginning of the year, the fund has decreased by 20.1 percent, lagging behind the index, which has gained 0.3 percent. This is according to the fund's monthly report.

 TIN Ny Teknik was significantly affected during the period by sentiment surrounding the software sector, which makes up nearly half of the fund. According to the fund manager, concerns that AI will disrupt the sector stood in contrast to the companies' operational and financial performance. Most remaining holdings reported full-year figures during February.

Addnode reported an organic growth of minus 4 percent in the fourth quarter, slightly better than expected. At the same time, the result was significantly stronger than anticipated, with approximately 20 percent growth in EBITA. For 2025, organic growth is projected to reach around 5 percent, with additional contributions from acquisitions completed at the end of the previous year.

Lime Technologies increased its recurring revenues by 13 percent in 2025. The company has built expertise within selected verticals and views AI as a growth driver rather than a threat.

Adyen reported organic growth of 21 percent in conjunction with its full-year results, while the stock dropped by more than 15 percent. The company is guiding for growth of 20–22 percent in 2026. The combination of approximately 20 percent growth and a 55 percent margin is highlighted as a sign of strength in the business model.

Outside the software sector, Biogaia delivered results in line with its previously issued positive profit warning. Chemometec maintained its full-year guidance despite weaker-than-expected sales. Novo Nordisk is guiding for declining sales in 2026, which is described as a disappointment.

The holdings that contributed most positively to returns during the month were Surgical Science, Biogaia, and Lemonsoft. Negative impact came mainly from Sectra, Addnode, and Chemometec.

At the end of the month, the three largest holdings were Sectra, Addnode, and Epidemic Sound. Software was the largest segment, accounting for 47 percent of managed capital, followed by Health at 40 percent and Digital Brands at 6 percent.

TIN Ny Teknik, %February, 2026
Fund MM, change in percent-11.9
Index MM, change in percent2.0
Fund YTD, change in percent-20.1
Index YTD, change in percent0.3