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Overview of all investments

SKAGEN Vekst A as of 31/10/2025

Health Care

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Novo Nordisk A/S 1,409,300 856,466,933 696,298,257 5.16 %
H. Lundbeck A/S 4,047,021 216,918,070 298,584,247 2.21 %
Total Health Care 1,073,385,003 994,882,504 7.37 %

Information Technology

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Samsung Electronics Co Ltd 915,200 224,327,706 548,491,649 4.06 %
Nokia A 4,237,260 177,851,623 290,141,836 2.15 %
Tieto Oyj (EUR) 842,129 221,045,794 183,002,186 1.36 %
Applied Materials 29,416 23,683,999 69,370,607 0.51 %
Total Information Technology 646,909,121 1,091,006,278 8.08 %

Financials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Nordea Bank Abp 3,046,000 269,979,069 526,887,343 3.90 %
Ping An Insurance Group 6,526,816 430,086,963 477,041,406 3.53 %
Hana Financial Holdings 741,066 364,823,634 449,919,239 3.33 %
Citigroup 429,700 200,803,522 440,072,463 3.26 %
KB Financial Group 484,000 204,607,242 400,733,338 2.97 %
B3 SA - Brasil Bolsa Balcao 10,570,000 225,951,162 251,397,184 1.86 %
Korean Reinsurance Co 2,959,141 131,522,542 222,942,366 1.65 %
American International Group Inc 182,600 69,421,214 145,867,156 1.08 %
Kinnevik AB 1,370,000 144,064,656 131,148,390 0.97 %
HitecVision AS 715,250 6,488,468 92,982,500 0.69 %
Sberbank of Russia PJSC (pref) 6,933,020 126,841,634 32,504,373 0.24 %
Total Financials 2,174,590,106 3,171,495,759 23.49 %

Industrials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
ISS A/S 1,547,600 316,362,622 494,183,175 3.66 %
DSV A/S 197,400 302,033,315 424,446,878 3.14 %
Bonheur 1,467,300 192,539,044 323,539,650 2.40 %
Skf Svenska Kullager Fabrikker B 1,151,000 269,027,669 300,545,863 2.23 %
Volvo B 971,000 137,205,183 271,137,675 2.01 %
CK Hutchison Holdings Ltd 3,548,000 286,171,564 237,845,964 1.76 %
Cadeler A/S 380,721 51,033,826 71,372,656 0.53 %
Cadeler A/S 1,375,000 74,944,355 64,625,000 0.48 %
Vestas Wind System 144,300 28,787,932 29,774,825 0.22 %
TaskUS Inc 32,815 4,353,063 4,428,716 0.03 %
Total Industrials 1,662,458,574 2,221,900,402 16.46 %

Materials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Boliden AB 959,004 262,364,952 438,477,242 3.25 %
Yara International 1,112,340 387,969,096 410,675,928 3.04 %
Upm-Kymmene 1,418,908 438,034,899 385,716,745 2.86 %
Wienerberger 430,004 133,714,759 129,244,574 0.96 %
Elopak ASA 2,126,041 58,164,506 101,412,156 0.75 %
Segezha Group PJSC 50,000,000 44,262,147 935,129 0.01 %
Total Materials 1,324,510,358 1,466,461,774 10.86 %

Consumer Staples

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Essity AB 1,415,200 383,441,476 393,514,959 2.92 %
Carlsberg B 249,600 274,751,791 297,265,845 2.20 %
Bakkafrost P/F 598,653 290,145,456 278,134,184 2.06 %
Tyson Foods A 262,300 149,231,176 136,425,482 1.01 %
Molson Coors Beverage Co 294,200 158,492,279 130,128,500 0.96 %
Wal-Mart de Mexico SAB de CV 3,849,000 114,858,961 128,922,502 0.96 %
Total Consumer Staples 1,370,921,139 1,364,391,472 10.11 %

Energy

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Shell PLC 860,400 231,028,796 326,122,075 2.42 %
TGS-NOPEC Geophysical Company 1,530,000 167,008,886 134,028,000 0.99 %
Paratus Energy Services Ltd 996,000 43,265,937 41,373,840 0.31 %
Northern Ocean Ltd 4,566,760 149,408,719 27,491,895 0.20 %
Gazprom PJSC 3,460,000 72,960,110 6,539,241 0.05 %
Total Energy 663,672,448 535,555,052 3.97 %

Consumer Discretionary

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Alibaba Group Holding Ltd 1,365,426 218,102,371 293,440,590 2.17 %
Hyundai Motor Co Ltd-PFD 69,174 48,009,774 106,589,441 0.79 %
Hugo Boss AG 139,447 58,932,631 62,609,005 0.46 %
Total Consumer Discretionary 325,044,776 462,639,036 3.43 %

Real Estate

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
CK Asset Holdings Ltd 5,724,548 283,755,769 286,437,270 2.12 %
Public Property Invest AS 8,627,033 128,709,803 192,382,836 1.43 %
Sveafastigheter AB 3,400,000 134,595,758 153,933,368 1.14 %
Total Real Estate 547,061,330 632,753,474 4.69 %

Communication Services

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Telenor ASA 1,859,400 246,717,927 280,025,640 2.07 %
Alphabet Inc Class A 68,600 88,081,195 195,152,263 1.45 %
Total Communication Services 334,799,122 475,177,903 3.52 %

Total

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Total Holdings 11,164,621,629 12,447,481,250 92.21 %
Available liquidity 1,051,898,116 7.79 %
Total AUM 13,499,379,366 100.00 %

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.