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Overview of all investments

SKAGEN Vekst A as of 30/06/2025

Health Care

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Novo Nordisk A/S 1,195,316 748,990,726 836,636,350 6.68 %
H. Lundbeck A/S 4,409,700 236,357,462 255,287,313 2.04 %
Total Health Care 985,348,189 1,091,923,663 8.72 %

Financials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Nordea Bank Abp 3,382,700 295,319,967 505,736,739 4.04 %
Hana Financial Holdings 741,066 364,823,634 479,547,526 3.83 %
Ping An Insurance Group 6,527,316 428,810,871 419,469,424 3.35 %
KB Financial Group 497,500 204,097,879 413,702,935 3.30 %
Citigroup 455,700 212,953,607 392,534,905 3.13 %
Korean Reinsurance Co 3,106,000 138,049,865 238,487,367 1.90 %
B3 SA - Brasil Bolsa Balcao 8,290,700 171,947,418 224,127,964 1.79 %
American International Group Inc 191,020 69,813,553 165,451,041 1.32 %
HitecVision AS 715,250 6,488,468 89,406,250 0.71 %
Kinnevik AB 996,000 110,713,199 88,499,206 0.71 %
Sberbank of Russia PJSC (pref) 6,933,020 126,841,634 36,602,213 0.29 %
Total Financials 2,129,860,096 3,053,565,570 24.37 %

Industrials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
ISS A/S 1,695,200 345,146,922 476,659,174 3.80 %
DSV A/S 168,000 239,370,565 407,117,946 3.25 %
Skf Svenska Kullager Fabrikker B 1,632,787 381,294,677 376,398,360 3.00 %
Bonheur 1,356,977 167,492,231 310,747,733 2.48 %
Volvo B 923,500 124,588,106 260,253,263 2.08 %
CK Hutchison Holdings Ltd 3,548,000 286,171,564 220,918,075 1.76 %
Vestas Wind System 507,300 104,196,736 76,749,614 0.61 %
Cadeler A/S 380,721 51,033,826 76,554,784 0.61 %
Cadeler A/S 853,000 48,910,246 42,692,650 0.34 %
Total Industrials 1,748,204,873 2,248,091,601 17.94 %

Materials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Yara International ASA 1,112,340 387,969,096 413,790,480 3.30 %
Upm-Kymmene 1,401,800 433,493,363 385,661,531 3.08 %
Boliden Limited B 1,106,199 300,438,919 346,625,761 2.77 %
Elopak ASA 2,126,041 58,164,506 99,923,927 0.80 %
Segezha Group PJSC 50,000,000 44,262,147 1,278,550 0.01 %
Total Materials 1,224,328,030 1,247,280,250 9.96 %

Information Technology

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Samsung Electronics Co Ltd 1,025,800 251,437,239 380,742,944 3.04 %
Nokia A 4,624,900 194,218,373 242,063,077 1.93 %
Tieto Oyj (EUR) 824,300 217,266,228 157,649,605 1.26 %
Applied Materials 68,000 48,240,891 125,977,717 1.01 %
Broadcom Inc 35,100 25,132,164 97,911,285 0.78 %
Total Information Technology 736,294,895 1,004,344,628 8.02 %

Consumer Staples

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Essity AB 1,319,000 357,451,146 366,947,939 2.93 %
Carlsberg B 217,500 233,158,692 310,771,826 2.48 %
Bakkafrost P/F 345,000 179,982,240 156,561,000 1.25 %
Wal-Mart de Mexico SAB de CV 4,191,900 126,065,148 139,554,134 1.11 %
Tyson Foods A 213,900 123,711,493 121,087,938 0.97 %
Molson Coors Beverage Co 240,000 133,036,721 116,797,530 0.93 %
Total Consumer Staples 1,153,405,441 1,211,720,367 9.67 %

Energy

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Shell PLC 897,000 240,856,380 319,558,680 2.55 %
TGS-NOPEC Geophysical Company 1,282,683 147,568,293 110,246,604 0.88 %
Paratus Energy Services Ltd 996,000 43,265,937 34,541,280 0.28 %
Northern Ocean Ltd 4,566,760 149,408,719 26,715,546 0.21 %
Gazprom PJSC 3,460,000 72,960,110 7,560,597 0.06 %
Total Energy 654,059,439 498,622,707 3.98 %

Communication Services

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Telenor ASA 2,014,000 267,231,313 315,593,800 2.52 %
Alphabet Inc Class A 100,730 129,335,551 179,641,351 1.43 %
Total Communication Services 396,566,865 495,235,151 3.95 %

Real Estate

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
CK Asset Holdings Ltd 5,471,548 271,579,797 244,054,501 1.95 %
Public Property Invest AS 9,196,208 137,201,530 220,249,182 1.76 %
Sveafastigheter AB 3,400,000 134,595,758 137,189,502 1.10 %
Total Real Estate 543,377,085 601,493,184 4.80 %

Consumer Discretionary

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Alibaba Group Holding Ltd 1,557,126 245,579,468 220,407,620 1.76 %
Hyundai Motor Co Ltd-PFD 69,174 48,009,774 80,137,418 0.64 %
Hugo Boss AG 139,447 58,932,631 65,050,672 0.52 %
Total Consumer Discretionary 352,521,874 365,595,710 2.92 %

Total

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Total Holdings 10,608,092,108 11,839,767,026 94.50 %
Available liquidity 688,923,064 5.50 %
Total AUM 12,528,690,090 100.00 %

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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