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Overview of all investments

SKAGEN Focus A as of 30/06/2025

Consumer Discretionary

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Hyundai Mobis Co Ltd 54,609 97,655,866 117,519,542 3.65 %
Beazer Homes USA Inc 341,584 111,416,426 77,326,997 2.40 %
Mazda Motor Corp 857,821 73,715,754 52,249,593 1.62 %
Forvia 499,448 54,551,633 51,094,718 1.59 %
Brembo N.V. 526,600 57,765,386 50,794,723 1.58 %
Adient Plc 189,088 33,152,476 37,236,979 1.16 %
Total Consumer Discretionary 428,257,541 386,222,552 12.00 %

Materials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Acerinox SA 882,129 100,368,416 113,381,206 3.52 %
Wienerberger 281,418 95,727,406 105,704,980 3.28 %
Methanex Corp 275,337 99,557,883 92,227,451 2.87 %
Aya Gold & Silver Inc 823,914 80,453,529 74,852,265 2.33 %
Interfor Corp 680,243 109,671,617 63,262,827 1.97 %
Aperam SA 180,913 52,985,656 58,970,606 1.83 %
Solvay 145,668 55,442,465 50,769,861 1.58 %
Silvercorp Metals Inc 1,045,863 44,586,934 44,663,720 1.39 %
K+S AG 238,346 43,412,064 44,055,402 1.37 %
Wacker Chemie 59,175 52,542,021 43,582,453 1.35 %
International Nickel Indones 19,365,400 54,100,397 41,645,070 1.29 %
KCC Corp 13,236 31,034,609 30,965,302 0.96 %
Total Materials 819,882,996 764,081,144 23.74 %

Financials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Korean Reinsurance Co 1,371,964 49,684,507 105,343,233 3.27 %
iM Financial Group Co Ltd 1,054,078 64,967,890 99,350,944 3.09 %
Samsung Fire & Marine Insurance Co Ltd 36,734 76,872,687 89,243,625 2.77 %
BNK Financial Group Inc 912,904 69,717,691 85,223,317 2.65 %
EXOR NV 63,410 65,068,385 64,478,248 2.00 %
PEUGEOT INVEST 71,361 68,301,670 62,390,785 1.94 %
Banco del Bajio SA 2,440,000 60,398,822 59,273,119 1.84 %
Comerica Inc 85,663 60,970,093 51,709,622 1.61 %
Hyakugo Bank Ltd/The 836,718 34,634,172 40,506,410 1.26 %
Alior Bank SA 40,994 10,689,238 10,859,816 0.34 %
Total Financials 561,305,155 668,379,119 20.77 %

Industrials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Ayvens SA 848,590 66,175,127 95,260,187 2.96 %
CNH Industrial NV 724,020 83,086,080 94,956,173 2.95 %
Takuma Co 648,259 77,207,533 93,013,312 2.89 %
DL E&C Co Ltd 204,995 61,492,413 79,622,718 2.47 %
Befesa SA 241,881 84,746,509 79,533,401 2.47 %
Swire Pacific B 5,517,320 76,979,245 79,092,166 2.46 %
GT Capital Holdings Inc 710,547 78,883,726 73,271,351 2.28 %
Grupo Traxion SAB de CV 7,127,500 100,272,769 66,546,508 2.07 %
Vesuvius 1,173,733 67,406,898 63,870,741 1.98 %
Norma Group SE 389,352 74,178,215 63,549,312 1.97 %
Doosan Bobcat Inc 140,703 52,006,631 61,403,102 1.91 %
Takeuchi Manufacturing Co Ltd 173,640 68,778,325 56,993,585 1.77 %
Total Industrials 891,213,472 907,112,554 28.18 %

Information Technology

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Eugene Technology Co Ltd 292,991 82,517,968 85,900,365 2.67 %
Siltronic AG 116,666 95,457,096 56,405,367 1.75 %
Sopra Steria Group SACA 20,223 46,999,577 49,679,570 1.54 %
Total Information Technology 224,974,641 191,985,301 5.97 %

Real Estate

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Nexity SA 647,276 86,846,792 73,507,069 2.28 %
Total Real Estate 86,846,792 73,507,069 2.28 %

Communication Services

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Akatsuki Inc 303,036 50,331,492 64,222,352 2.00 %
Total Communication Services 50,331,492 64,222,352 2.00 %

Consumer Staples

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Tate & Lyle PLC 870,152 77,125,988 62,325,976 1.94 %
Albertsons Cos Inc 186,290 40,026,972 40,550,629 1.26 %
Total Consumer Staples 117,152,960 102,876,605 3.20 %

Unclassified

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Nordea Bank Finland Abp 800,000 8,067,960 8,094,787 0.25 %
FX spot_USD/NOK_NDA-HEL_20250701 -8,061,200 -8,061,200 -8,060,261 -0.25 %
Total Unclassified 6,760 34,526 0.00 %

Total

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Total Holdings 3,233,651,929 3,164,613,716 98.33 %
Available liquidity 53,816,358 1.67 %
Total AUM 3,218,430,074 100.00 %

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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