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Overview of all investments

SKAGEN Focus A as of 31/07/2025

Consumer Discretionary

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Hyundai Mobis Co Ltd 62,048 114,048,692 135,631,804 4.13 %
Beazer Homes USA Inc 341,584 111,416,426 82,627,829 2.52 %
Forvia 544,294 59,614,335 72,077,010 2.20 %
Mazda Motor Corp 929,486 78,748,111 57,929,079 1.77 %
Brembo N.V. 526,600 57,765,386 52,269,418 1.59 %
Adient Plc 189,088 33,152,476 41,730,127 1.27 %
Total Consumer Discretionary 454,745,426 442,265,267 13.48 %

Financials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Korean Reinsurance Co 1,371,964 49,684,507 108,554,635 3.31 %
Samsung Fire & Marine Insurance Co Ltd 36,734 76,872,687 90,522,128 2.76 %
BNK Financial Group Inc 693,935 52,995,217 75,148,884 2.29 %
Comerica Inc 94,620 67,318,986 65,810,899 2.01 %
PEUGEOT INVEST 71,361 68,301,670 63,811,596 1.94 %
EXOR NV 63,410 65,068,385 63,313,214 1.93 %
Banco del Bajio SA 2,718,000 66,836,748 63,017,958 1.92 %
Alior Bank SA 191,411 51,672,385 53,425,637 1.63 %
iM Financial Group Co Ltd 509,049 31,375,135 52,406,421 1.60 %
Hyakugo Bank Ltd/The 502,796 20,812,177 25,861,262 0.79 %
Total Financials 550,937,898 661,872,635 20.17 %

Materials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Methanex Corp 290,128 104,652,650 99,865,820 3.04 %
Wienerberger 281,418 95,727,406 97,873,502 2.98 %
Aya Gold & Silver Inc 823,914 80,453,529 72,445,666 2.21 %
Interfor Corp 763,448 117,785,412 70,823,622 2.16 %
Acerinox 534,682 60,835,984 63,811,934 1.94 %
KCC Corp 22,590 55,243,153 62,039,231 1.89 %
Aperam SA 202,533 59,508,091 61,752,845 1.88 %
Solvay 178,705 66,808,387 58,066,796 1.77 %
Wacker Chemie 65,571 57,709,624 50,754,444 1.55 %
Silvercorp Metals Inc 1,045,863 44,586,934 47,045,403 1.43 %
International Nickel Indones 19,365,400 54,100,397 41,793,390 1.27 %
Total Materials 797,411,566 726,272,653 22.14 %

Consumer Staples

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Albertsons Cos Inc 503,627 104,992,038 99,637,621 3.04 %
Tate & Lyle 870,152 77,125,988 63,531,764 1.94 %
Total Consumer Staples 182,118,026 163,169,385 4.97 %

Information Technology

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Eugene Technology Co Ltd 292,991 82,517,968 97,318,582 2.97 %
Siltronic AG 122,835 98,413,149 55,252,885 1.68 %
Sopra Steria Group SACA 24,453 56,770,826 54,564,355 1.66 %
Total Information Technology 237,701,943 207,135,821 6.31 %

Industrials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
CNH Industrial NV 724,020 83,086,080 96,586,521 2.94 %
Swire Pacific B 5,517,320 76,979,245 89,421,091 2.73 %
Takuma Co 593,159 70,645,133 89,052,417 2.71 %
Befesa SA 241,881 84,746,509 75,175,002 2.29 %
GT Capital Holdings Inc 710,547 78,883,726 75,168,107 2.29 %
Norma Group SE 389,352 74,178,215 71,467,200 2.18 %
Takeuchi Manufacturing Co Ltd 188,656 74,398,068 69,937,479 2.13 %
Grupo Traxion SAB de CV 7,495,000 103,705,494 67,895,462 2.07 %
DL E&C Co Ltd 185,553 55,660,390 64,937,883 1.98 %
Vesuvius 1,268,000 72,112,765 61,558,489 1.88 %
Doosan Bobcat Inc 140,703 52,006,631 57,857,754 1.76 %
Ayvens SA 493,601 38,492,215 54,983,764 1.68 %
Total Industrials 864,894,472 874,041,170 26.64 %

Real Estate

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Nexity SA 676,429 90,621,670 91,407,649 2.79 %
Total Real Estate 90,621,670 91,407,649 2.79 %

Communication Services

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Akatsuki Inc 303,036 50,331,492 62,139,237 1.89 %
Total Communication Services 50,331,492 62,139,237 1.89 %

Total

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Total Holdings 3,257,036,015 3,252,923,189 99.15 %
Available liquidity 27,963,694 0.85 %
Total AUM 3,280,886,883 100.00 %

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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