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Overview of all investments

SKAGEN Vekst A as of 31/12/2025

Health Care

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Novo Nordisk A/S 1,438,700 870,350,345 742,190,086 5.08 %
H. Lundbeck A/S 4,014,000 215,148,163 274,780,813 1.88 %
Total Health Care 1,085,498,508 1,016,970,898 6.96 %

Information Technology

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Samsung Electronics Co Ltd 915,200 224,327,706 568,659,277 3.89 %
Nokia A 4,090,000 171,670,640 269,975,575 1.85 %
Tieto Oyj (EUR) 888,500 230,824,060 192,618,759 1.32 %
Total Information Technology 626,822,406 1,031,253,611 7.06 %

Financials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Ping An Insurance Group Co of China Ltd 6,526,816 430,086,963 551,058,729 3.77 %
Nordea Bank Abp 2,892,700 256,391,481 550,566,459 3.77 %
Hana Financial Holdings 741,066 364,823,634 488,285,222 3.34 %
Citigroup 404,000 188,793,630 475,521,949 3.26 %
KB Financial Group 454,577 192,168,897 394,514,768 2.70 %
Korean Reinsurance Co 2,806,223 124,725,920 226,754,052 1.55 %
B3 SA - Brasil Bolsa Balcao 8,582,000 183,454,387 219,424,452 1.50 %
American International Group Inc 184,500 76,673,547 159,210,588 1.09 %
Kinnevik AB 1,502,551 155,280,865 137,572,876 0.94 %
HitecVision AS 715,250 6,488,468 92,982,500 0.64 %
Sberbank of Russia PJSC (pref) 6,933,020 126,841,634 34,366,124 0.24 %
Total Financials 2,105,729,427 3,330,257,718 22.80 %

Industrials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
ISS A/S 1,506,700 308,001,785 519,055,992 3.55 %
DSV A/S 180,600 277,005,373 462,613,042 3.17 %
Bonheur 1,793,858 266,863,939 451,155,287 3.09 %
Volvo B 971,000 137,205,183 314,373,635 2.15 %
Skf Svenska Kullager Fabrikker B 1,149,000 269,571,000 309,018,037 2.12 %
CK Hutchison Holdings Ltd 3,548,000 286,171,564 243,462,273 1.67 %
Cadeler A/S 2,000,000 101,379,427 96,080,000 0.66 %
Cadeler A/S 380,721 51,033,826 71,390,724 0.49 %
TaskUS Inc 521,200 67,715,371 61,983,169 0.42 %
Bravida Holding AB 522,000 49,990,022 51,260,977 0.35 %
Total Industrials 1,814,937,490 2,580,393,135 17.66 %

Materials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
UPM-Kymmene Oyj 1,476,000 453,373,956 433,463,909 2.97 %
Yara International 1,007,600 351,437,205 417,146,400 2.86 %
Boliden Limited B 560,500 153,341,963 315,960,937 2.16 %
Wienerberger 430,004 133,714,759 155,979,578 1.07 %
Elopak ASA 2,126,041 58,164,506 117,995,276 0.81 %
BASF SE 83,523 41,260,720 43,961,495 0.30 %
Segezha Group PJSC 50,000,000 44,262,147 985,540 0.01 %
Total Materials 1,235,555,256 1,485,493,134 10.17 %

Consumer Staples

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Essity AB 1,415,200 383,441,476 410,651,356 2.81 %
Carlsberg B 247,070 272,165,411 327,294,043 2.24 %
Bakkafrost P/F 619,400 299,747,344 319,920,100 2.19 %
Nomad Foods Ltd 2,218,400 278,081,204 279,932,117 1.92 %
Molson Coors Beverage Co 436,700 227,238,389 205,622,011 1.41 %
Tyson Foods A 262,300 149,231,176 155,095,668 1.06 %
Wal-Mart de Mexico SAB de CV 3,931,325 117,449,483 123,797,355 0.85 %
Total Consumer Staples 1,727,354,483 1,822,312,650 12.47 %

Energy

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Shell PLC 860,400 231,028,796 320,816,133 2.20 %
TGS-NOPEC Geophysical Company 1,684,000 180,688,300 154,338,600 1.06 %
Paratus Energy Services Ltd 996,000 43,265,937 43,963,440 0.30 %
Northern Ocean Ltd 4,566,760 149,408,719 39,411,139 0.27 %
Gazprom PJSC 3,460,000 72,960,110 7,190,473 0.05 %
Total Energy 677,351,862 565,719,785 3.87 %

Real Estate

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
CK Asset Holdings Ltd 5,992,548 297,736,182 305,356,471 2.09 %
Public Property Invest AS 8,627,033 128,709,803 201,009,869 1.38 %
Sveafastigheter AB 3,400,000 134,595,758 151,707,852 1.04 %
Fastighets AB Balder (B shs) 964,919 69,399,259 72,004,088 0.49 %
Total Real Estate 630,441,002 730,078,280 5.00 %

Communication Services

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Telenor ASA 1,859,400 246,717,927 272,773,980 1.87 %
Alphabet Inc Class A 63,900 82,046,478 201,744,061 1.38 %
Total Communication Services 328,764,405 474,518,041 3.25 %

Consumer Discretionary

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Alibaba Group Holding Ltd 1,444,426 232,726,744 267,304,088 1.83 %
Hyundai Motor Co Ltd-PFD 64,496 44,763,038 93,030,867 0.64 %
Hugo Boss AG 202,000 85,295,938 86,506,697 0.59 %
Total Consumer Discretionary 362,785,720 446,841,653 3.06 %

Total

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Total Holdings 11,731,397,021 13,470,760,647 92.21 %
Available liquidity 1,138,158,750 7.79 %
Total AUM 14,608,919,397 100.00 %

Historical returns are no guarantee for future returns. Future returns will depend, inter alia, on market developments, the fund manager’s skills, the fund’s risk profile and management fees. The return may become negative as a result of negative price developments. There is risk associated with investing in funds due to market movements, currency developments, interest rate levels, economic, sector and company-specific conditions. The funds are denominated in NOK. Returns may increase or decrease as a result of currency fluctuations. Prior to making a subscription, we encourage you to read the fund's prospectus and key investor information document which contain further details about the fund's characteristics and costs. The information can be found on www.skagenfunds.com.