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Overview of all investments

SKAGEN Focus A as of 31/08/2025

Consumer Discretionary

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Hyundai Mobis Co Ltd 62,048 114,048,692 142,823,241 4.35 %
Beazer Homes USA Inc 409,933 127,985,961 103,628,538 3.16 %
Mazda Motor Corp 1,076,686 88,438,468 73,310,560 2.23 %
Forvia 544,294 59,614,335 72,909,322 2.22 %
Brembo N.V. 526,600 57,765,386 58,586,530 1.78 %
Adient Plc 189,088 33,152,476 47,116,335 1.44 %
B&M European Value Retail SA 198,542 6,601,884 6,487,254 0.20 %
Total Consumer Discretionary 487,607,202 504,861,780 15.38 %

Consumer Staples

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Albertsons Cos Inc 589,876 121,951,675 115,334,548 3.51 %
Tate & Lyle 870,152 77,125,988 62,781,371 1.91 %
Total Consumer Staples 199,077,663 178,115,919 5.43 %

Financials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Korean Reinsurance Co 1,342,054 48,601,342 105,138,296 3.20 %
Comerica Inc 142,224 100,234,793 100,858,010 3.07 %
Samsung Fire & Marine Insurance Co Ltd 36,734 76,872,687 87,475,272 2.66 %
BNK Financial Group Inc 693,935 52,995,217 72,217,582 2.20 %
Banco del Bajio SA 2,718,000 66,836,748 65,209,066 1.99 %
PEUGEOT INVEST 71,361 68,301,670 64,789,408 1.97 %
EXOR NV 63,410 65,068,385 63,872,058 1.95 %
Alior Bank SA 191,411 51,672,385 54,731,472 1.67 %
iM Financial Group Co Ltd 509,049 31,375,135 50,438,098 1.54 %
Total Financials 561,958,363 664,729,262 20.25 %

Materials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Methanex Corp 290,128 104,652,650 103,513,304 3.15 %
Wienerberger 289,947 98,989,287 101,479,270 3.09 %
Aya Gold & Silver Inc 823,914 80,453,529 82,302,103 2.51 %
Interfor Corp 798,696 121,208,456 73,996,574 2.25 %
Acerinox 534,682 60,835,984 66,339,747 2.02 %
KCC Corp 22,590 55,243,153 64,977,196 1.98 %
Aperam SA 202,533 59,508,091 61,786,210 1.88 %
Solvay 178,705 66,808,387 59,056,650 1.80 %
Silvercorp Metals Inc 1,045,863 44,586,934 50,859,960 1.55 %
Wacker Chemie 65,571 57,709,624 50,278,833 1.53 %
International Nickel Indones 19,365,400 54,100,397 44,129,525 1.34 %
Total Materials 804,096,492 758,719,370 23.11 %

Industrials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
GT Capital Holdings Inc 710,547 78,883,726 86,202,103 2.63 %
CNH Industrial NV 724,020 83,086,080 83,293,652 2.54 %
Swire Pacific B 5,517,320 76,979,245 82,840,867 2.52 %
Takuma Co 510,209 60,765,803 78,871,252 2.40 %
Befesa SA 241,881 84,746,509 78,056,963 2.38 %
Takeuchi Manufacturing Co Ltd 188,656 74,398,068 66,615,411 2.03 %
Vesuvius 1,268,000 72,112,765 64,341,467 1.96 %
Grupo Traxion SAB de CV 7,495,000 103,705,494 60,989,062 1.86 %
Norma Group SE 320,923 61,141,320 60,010,018 1.83 %
DL E&C Co Ltd 195,377 58,754,554 59,798,255 1.82 %
Doosan Bobcat Inc 140,703 52,006,631 54,300,806 1.65 %
Ayvens SA 211,358 16,482,215 23,526,921 0.72 %
Total Industrials 823,062,410 798,846,776 24.34 %

Real Estate

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Nexity SA 676,429 90,621,670 68,652,886 2.09 %
Total Real Estate 90,621,670 68,652,886 2.09 %

Information Technology

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Eugene Technology Co Ltd 193,466 54,487,753 67,043,229 2.04 %
Siltronic AG 122,835 98,413,149 51,283,336 1.56 %
Sopra Steria Group SACA 27,061 61,734,737 50,474,591 1.54 %
Total Information Technology 214,635,639 168,801,157 5.14 %

Communication Services

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Akatsuki Inc 301,736 50,854,900 61,903,207 1.89 %
TF1 - Television Francaise 215,552 21,728,155 21,382,719 0.65 %
Total Communication Services 72,583,055 83,285,926 2.54 %

Total

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Total Holdings 3,293,935,377 3,242,049,845 98.77 %
Available liquidity 40,363,556 1.23 %
Total AUM 3,282,413,401 100.00 %

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.