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Overview of all investments

SKAGEN Focus A as of 30/09/2025

Consumer Discretionary

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Hyundai Mobis Co Ltd 62,048 114,048,692 131,714,424 4.01 %
Beazer Homes USA Inc 409,933 127,985,961 100,415,134 3.06 %
B&M European Value Retail SA 2,240,700 73,033,996 78,767,091 2.40 %
Mazda Motor Corp 1,010,686 83,017,259 73,814,169 2.25 %
Forvia 544,294 59,614,335 72,810,045 2.22 %
Brembo N.V. 526,600 57,765,386 55,471,645 1.69 %
SEB SA 39,266 28,304,062 28,748,899 0.88 %
Adient Plc 107,186 18,792,738 25,753,090 0.78 %
Aumovio SE 48,700 20,043,692 19,583,720 0.60 %
Total Consumer Discretionary 582,606,122 587,078,215 17.88 %

Materials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Methanex Corp 318,800 115,966,563 126,473,484 3.85 %
Aya Gold & Silver Inc 698,127 69,436,627 80,601,147 2.45 %
Wienerberger 210,141 71,743,138 67,553,888 2.06 %
Acerinox 508,110 57,812,628 66,123,042 2.01 %
Silvercorp Metals Inc 1,045,863 44,586,934 65,951,803 2.01 %
Aperam SA 202,533 59,508,091 65,583,045 2.00 %
KCC Corp 22,590 55,243,153 61,689,133 1.88 %
Interfor Corp 757,800 115,002,164 55,157,117 1.68 %
Wacker Chemie 65,571 57,709,624 49,276,737 1.50 %
Solvay 152,716 57,092,468 48,377,341 1.47 %
International Nickel Indones 14,170,000 39,586,201 37,329,618 1.14 %
Total Materials 743,687,592 724,116,355 22.05 %

Financials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Comerica Inc 146,651 103,339,730 100,262,188 3.05 %
Korean Reinsurance Co 1,180,000 42,732,695 91,468,113 2.79 %
Samsung Fire & Marine Insurance Co Ltd 36,734 76,872,687 89,211,357 2.72 %
BNK Financial Group Inc 693,935 52,995,217 72,000,465 2.19 %
Banco del Bajio SA 2,718,000 66,836,748 68,226,178 2.08 %
PEUGEOT INVEST 75,074 71,762,716 65,747,957 2.00 %
EXOR NV 63,410 65,068,385 61,851,920 1.88 %
Alior Bank SA 191,411 51,672,385 54,012,776 1.65 %
iM Financial Group Co Ltd 509,049 31,375,135 49,812,603 1.52 %
Total Financials 562,655,698 652,593,556 19.88 %

Industrials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Ayvens SA 779,940 89,684,628 93,908,249 2.86 %
Befesa SA 256,809 89,695,443 86,711,127 2.64 %
Swire Pacific B 5,552,320 77,508,680 83,166,461 2.53 %
Takuma Co 510,209 60,765,803 77,351,504 2.36 %
GT Capital Holdings Inc 710,547 78,883,726 70,105,063 2.14 %
Takeuchi Manufacturing Co Ltd 188,656 74,398,068 66,023,444 2.01 %
Vesuvius 1,268,000 72,112,765 63,701,289 1.94 %
Grupo Traxion SAB de CV 7,495,000 103,705,494 59,190,409 1.80 %
DL E&C Co Ltd 195,377 58,754,554 58,216,846 1.77 %
Doosan Bobcat Inc 140,703 52,006,631 55,533,821 1.69 %
Norma Group SE 285,524 54,397,205 47,734,706 1.45 %
CNH Industrial NV 307,527 35,258,041 33,292,605 1.01 %
Total Industrials 847,171,039 794,935,524 24.21 %

Information Technology

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Sopra Steria Group 46,628 98,251,130 88,449,913 2.69 %
Eugene Technology Co Ltd 140,149 39,471,556 69,667,206 2.12 %
Siltronic AG 101,950 81,680,470 55,698,725 1.70 %
Total Information Technology 219,403,156 213,815,844 6.51 %

Real Estate

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Nexity SA 650,495 87,147,274 84,118,512 2.56 %
Total Real Estate 87,147,274 84,118,512 2.56 %

Consumer Staples

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Tate & Lyle PLC 961,980 83,584,646 58,096,466 1.77 %
Albertsons Cos Inc 218,285 45,128,504 38,136,851 1.16 %
Total Consumer Staples 128,713,150 96,233,317 2.93 %

Communication Services

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Akatsuki Inc 301,736 50,854,900 55,020,915 1.68 %
TF1 - Television Francaise 245,706 24,827,608 24,931,875 0.76 %
Total Communication Services 75,682,508 79,952,790 2.44 %

Total

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Total Holdings 3,292,051,633 3,238,706,122 98.64 %
Available liquidity 44,657,471 1.36 %
Total AUM 3,283,363,593 100.00 %

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.