NORW vs DWMF overlap

NORW and DWMF overlap 1.2% by weight, across 3 shared holdings.

NORWDWMF

Pick 2 to 4 ETFs.

1.2%

overlap by weight, across 3 shared holdings

NORW21.0% of the fund is in shared holdings, of 60

DWMF1.2% of the fund is in shared holdings, of 201

Top shared holdings

Holding	NORW	DWMF	Overlap
Equinor ASAEQNR	12.70%	0.44%	0.44%
AKER BP ASAAKRBP	4.94%	0.41%	0.41%
YARA Intl ASAYAR	3.32%	0.35%	0.35%

Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: NORW, SEC Form N-PORT, July 31, 2026; DWMF, SEC Form N-PORT, June 30, 2026.

institutions report holding both, of 57 holding any

NORW33.1% of its 13F dollars, 17.9% of its 39 holders

DWMF44.8% of its 13F dollars, 28.0% of its 25 holders

Largest institutions holding both

Firm	NORW	DWMF
LPL Financial LLC	$420K	$3.5M
Susquehanna International Group, LLP	$2.1M	$1.2M
Jane Street Group, LLC	$821K	$515K
Morgan Stanley	$504K	$26K
Creative Planning	$270K	$249K
Harbour Investments, Inc.	$7K	$11K
FMR LLC	$4K	$34

This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.

Who owns them: NORW institutional holders, DWMF institutional holders.

Frequently asked questions

How much do NORW and DWMF overlap?

1.2% by weight, with 3 holdings in common, using holdings for NORW as of July 31, 2026 and DWMF as of June 30, 2026. The largest shared position is EQNR.

Do institutions hold both NORW and DWMF?

7 Form 13F filers report positions in both, out of 57 that report either one.

How is overlap by weight worked out?

For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.