Investment Portfolio

A curated overview of companies, funds, and alternative assets actively followed, managed, or invested in through the Noron structure and its broader investment universe. The portfolio reflects long-term capital allocation, actively managed ownership positions, and closely monitored strategic exposures.

The overview may include assets held at the corporate level as well as selected positions held outside the group structure. This content is provided for informational purposes only and does not constitute investment advice.

Last updated: 20.12.2025

Core Holdings

  • AUTOSTORE HOLDINGS LTD.
  • NORCONSULT ASA
  • EUROPRIS
  • EQUINOR
  • CMB.TECH NV
  • SUBSEA 7
  • ENVIPCO HOLDING N.V.
  • SCATEC ASA
  • AF GRUPPEN
  • DNB BANK ASA
  • BAKKAFROST
  • SALMAR

Portfolio Companies (Unlisted)

  • MOTHERX AS
  • FECINI AS
  • NORDIC STORAGE GROUP AS
  • ESCAPEX AS

Listed Holdings

  • FRANKLIN GOLD & PRECIOUS METALS A (ACC)
  • AUAG SILVER BULLET B
Alternative Real Assets
Cultural Assets as Long-Term Capital Preservation

Noron Capital allocates capital selectively to alternative real assets with long-term value preservation characteristics. This includes the acquisition of an original work by Edvard Munch, held as part of a broader, multi-asset strategy focused on scarcity, cultural relevance and asymmetric downside protection.

Bidding process
Acquisition process and documented bidding
Formal handover
Formal handover and custodial documentation