Recommended portfolio from DNB Carnegie
On this page you will find equity strategist Paul Harper's weekly top picks on the Oslo Stock Exchange.
WEEKLY PORTFOLIO: Paul Harper's recommended portfolio of shares from the Oslo Stock Exchange has beaten the main index in 18 out of 21 previous years, but for 2026 it looks less promising. (Photo: DNB)
Weekly and daily recommendations
This week's recommendations from DNB Carnegie are updated, with certain exceptions, on this page every Monday. If you have access to DNB's equity trading service, you will receive the recommendations when logged in early Monday morning on our trading platform.
Daily buy and sell recommendations from our analysts are also available when logged in.
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Portfolio week 46
(09.11.2026) Kitron in
The portfolio value fell 3.9 per cent from Monday morning last week to the same time today. In the same period, OSEBX is down 2.8 per cent.
Shares out:
- None
Shares in:
- Kitron
.
NOTE: The recommendations are given with certain reservations. Read the disclaimer below.
Shares in the portfolio
Click on the ticker to view key information:
Aker BP ASA (AKRBP)
B2 Impact (B2I)
DOF Group (DOFG)
Elkem (ELK)
Equinor (EQNR)
Kitron (KIT)
Kongsberg Gruppen (KOG)
Mowi (MOWI)
Nordic Semiconductor (NOD)
SalMar (SALM)
Year to date: So far in 2026 the portfolio is up 0.3 per cent, whilst OSEBX is up 22.2 per cent.
Our comment
(09.11.26) This week we are adding Kitron
So far in 2026 the portfolio is up 0.3 per cent, whilst OSEBX is up 22.2 per cent.
The week that was
Portfolio performance. B2 Impact (+4.7%), Salmar (+0.1%) and Mowi (-0.1%) were last week's strongest contributors to the portfolio's rate of return. The weakest contributions came from Aker BP (-15.9%), Equinor (-10.1%) and Kongsberg Gruppen (-5.2%). Aker BP announced a secondary placement on Wednesday evening, whilst the US midterm elections contributed to some unrest in the energy market. Whilst the placement was being carried out, the oil price fell by over 6%, and the placement was priced at a 12% discount.
This week
We are adding Kitron to the portfolio as we believe the share price fall following the third-quarter report appears excessive. The company has had its operating profit expectations upgraded, whilst the EPS estimates have only been marginally revised downwards. Kitron is exposed to several structural growth trends: electrification, increased defence budgets and industrial IoT, and we believe the share offers an attractive combination of structural growth and moderate valuation.
On the macroeconomic front, the publication of Norwegian and US inflation figures on Tuesday is the week's most important event. In Norway, core inflation is expected to have declined from 3.0% to 2.8% in October, measured against the same month last year. In the US, consumer prices are expected to have risen 0.3% from September to October.
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You can find an archive of previous weeks when logged in to DNB's Share trading, under the "Insight" tab
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*The average annual rate of return on Paul Harper's recommended portfolio since inception (2005–end of 2023) is 20.7%; OSEBX returned an annual average of 10.7% over the same period. Over the past ten years (2013–2023), Harper's portfolio returned an annual average of 17.9%. The recommended portfolio outperformed the main index (OSEBX) in the following years: 2005–2007, 2009–2010, 2012–2021 and 2023–2024.
In our calculation of the rate of return, we base the entry and exit prices on the opening prices on Monday morning. The portfolio is equally weighted, and the week's rate of return therefore reflects an overall average of the price development for all the shares during the week. For companies on the OBX index, we use the average price up to 10:00 on Monday, whilst for other shares we use the average up to 12:00. The return for OSEBX is calculated from the price at 10:00 on Monday.
Investing in shares involves high risk.Future rate of return depends on market developments, the investor's skill, risk, and costs associated with purchase, maintenance and sale. The return may be negative.
Important information
The weekly recommendations are based on a report prepared by DNB Carnegie, a division of DNB Bank ASA. DNB Bank ASA is part of the DNB Group. This report is based on information obtained from public sources that DNB Carnegie believes to be reliable, but which DNB Carnegie has not independently verified. DNB Carnegie therefore provides no guarantees, representations or warranties as to accuracy or completeness. This report does not contain, and does not attempt to contain, all material information about the companies named.
All opinions expressed here on the page reflect DNB Carnegie's assessment at the time the report was prepared. Recommendations may change without notice.