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Overview of all investments

SKAGEN Vekst A as of 31/05/2025

Health Care

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Novo Nordisk A/S 1,195,316 748,990,726 843,180,007 6.92 %
H. Lundbeck A/S 4,409,700 236,357,462 249,178,530 2.04 %
Total Health Care 985,348,189 1,092,358,537 8.96 %

Financials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Nordea Bank Abp 3,382,700 295,319,967 499,624,900 4.10 %
Hana Financial Holdings 741,066 364,823,634 398,965,843 3.27 %
KB Financial Group 513,900 210,825,930 396,923,985 3.26 %
Ping An Insurance Group 6,527,316 428,810,871 392,493,062 3.22 %
Citigroup 472,200 220,664,238 363,384,219 2.98 %
Korean Reinsurance Co 3,371,934 149,869,618 230,725,424 1.89 %
B3 SA - Brasil Bolsa Balcao 8,290,700 171,947,418 206,149,264 1.69 %
American International Group 191,020 69,813,553 165,190,195 1.36 %
Kinnevik AB 996,000 110,713,199 86,326,685 0.71 %
HitecVision AS 715,250 6,488,468 82,253,750 0.67 %
Sberbank of Russia PJSC (pref) 6,933,020 126,841,634 35,851,919 0.29 %
Total Financials 2,156,118,530 2,857,889,246 23.45 %

Industrials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
ISS A/S 1,695,200 345,146,922 465,245,633 3.82 %
DSV A/S 168,000 239,370,565 404,386,725 3.32 %
Skf Svenska Kullager Fabrikker B 1,632,787 381,294,677 366,129,605 3.00 %
Bonheur 1,346,000 165,074,059 315,637,000 2.59 %
Volvo B 923,500 124,588,106 261,210,087 2.14 %
CK Hutchison Holdings Ltd 3,548,000 286,171,564 204,098,569 1.67 %
Vestas Wind System 581,600 119,457,563 93,736,850 0.77 %
Cadeler A/S 380,721 51,033,826 78,108,862 0.64 %
Cadeler A/S 630,000 37,204,915 32,161,500 0.26 %
Total Industrials 1,749,342,197 2,220,714,831 18.22 %

Materials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Yara International ASA 1,184,000 412,963,131 433,344,000 3.56 %
Upm-Kymmene 1,286,600 402,862,241 363,978,638 2.99 %
Boliden Limited B 1,106,199 300,438,919 352,894,130 2.90 %
Elopak ASA 2,126,041 58,164,506 95,034,033 0.78 %
Segezha Group PJSC 50,000,000 44,262,147 1,375,953 0.01 %
Total Materials 1,218,690,944 1,246,626,753 10.23 %

Consumer Staples

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Essity AB 1,277,000 345,731,081 380,757,706 3.12 %
Carlsberg B 208,900 221,425,752 305,079,605 2.50 %
Wal-Mart de Mexico SAB de CV 4,191,900 126,065,148 140,586,488 1.15 %
Bakkafrost P/F 292,400 156,162,881 138,890,000 1.14 %
Tyson Foods A 213,900 123,711,493 122,734,781 1.01 %
Molson Coors Beverage Co 215,000 120,795,672 117,720,470 0.97 %
Total Consumer Staples 1,093,892,029 1,205,769,051 9.89 %

Information Technology

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Samsung Electronics Co Ltd 1,025,800 251,437,239 350,193,464 2.87 %
Nokia A 4,624,900 194,218,373 245,475,928 2.01 %
Tieto Oyj (EUR) 824,300 217,266,228 153,741,776 1.26 %
Applied Materials 68,000 48,240,891 108,904,602 0.89 %
Broadcom Inc 40,100 28,712,245 99,177,947 0.81 %
Total Information Technology 739,874,976 957,493,717 7.86 %

Communication Services

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Telenor ASA 2,014,000 267,231,313 315,392,400 2.59 %
Alphabet Inc Class A 107,400 137,899,714 188,454,065 1.55 %
Total Communication Services 405,131,028 503,846,465 4.13 %

Energy

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Shell PLC 897,000 240,856,380 304,117,777 2.50 %
TGS-NOPEC Geophysical Company 1,282,683 147,568,293 107,745,372 0.88 %
Paratus Energy Services Ltd 996,000 45,487,157 35,875,920 0.29 %
Northern Ocean Ltd 4,566,760 149,408,719 27,537,563 0.23 %
Gazprom PJSC 3,460,000 72,960,110 7,447,183 0.06 %
Total Energy 656,280,659 482,723,815 3.96 %

Real Estate

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
CK Asset Holdings Ltd 5,471,548 271,579,797 231,696,362 1.90 %
Public Property Invest AS 10,239,237 152,762,854 220,143,596 1.81 %
Sveafastigheter AB 3,400,000 134,595,758 126,512,497 1.04 %
Total Real Estate 558,938,409 578,352,455 4.75 %

Consumer Discretionary

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Alibaba Group Holding Ltd 1,557,126 245,579,468 231,085,726 1.90 %
Hyundai Motor Co Ltd-PFD 69,174 48,009,774 75,762,706 0.62 %
Hugo Boss AG 139,447 58,932,631 65,991,787 0.54 %
Total Consumer Discretionary 352,521,874 372,840,219 3.06 %

Total

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Total Holdings 10,527,985,687 11,581,403,710 95.02 %
Available liquidity 607,091,887 4.98 %
Total AUM 12,188,495,597 100.00 %

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. Storebrand Asset Management administers the SKAGEN funds which are by agreement managed by SKAGEN's portfolio managers.

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