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Overview of all investments

SKAGEN Vekst A as of 31/08/2025

Health Care

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Novo Nordisk A/S 1,359,100 830,549,658 768,291,451 6.10 %
H. Lundbeck A/S 4,274,131 229,091,040 271,647,603 2.16 %
Total Health Care 1,059,640,697 1,039,939,053 8.25 %

Financials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Nordea Bank Abp 3,265,810 288,179,272 501,412,757 3.98 %
Ping An Insurance Group 6,527,316 428,810,871 473,623,855 3.76 %
Hana Financial Holdings 741,066 364,823,634 440,240,878 3.49 %
Citigroup 442,800 206,925,296 429,640,979 3.41 %
KB Financial Group 499,500 211,159,746 390,592,962 3.10 %
B3 SA - Brasil Bolsa Balcao 10,016,000 213,111,143 240,643,937 1.91 %
Korean Reinsurance Co 2,959,141 131,522,542 231,823,043 1.84 %
American International Group Inc 191,020 69,813,553 156,074,540 1.24 %
HitecVision AS 715,250 6,488,468 92,982,500 0.74 %
Kinnevik AB 996,000 110,713,199 89,753,844 0.71 %
Sberbank of Russia PJSC (pref) 6,933,020 126,841,634 34,702,222 0.28 %
Total Financials 2,158,389,359 3,081,491,517 24.45 %

Industrials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
ISS A/S 1,612,500 328,308,997 474,060,223 3.76 %
DSV A/S 173,100 251,289,822 385,355,342 3.06 %
Skf Svenska Kullager Fabrikker B 1,375,300 321,165,326 354,285,392 2.81 %
Bonheur 1,406,756 178,903,021 322,850,502 2.56 %
Volvo B 923,500 124,588,106 285,145,583 2.26 %
CK Hutchison Holdings Ltd 3,548,000 286,171,564 234,808,922 1.86 %
Cadeler A/S 380,721 51,033,826 80,063,010 0.64 %
Vestas Wind System 310,800 63,749,680 62,188,042 0.49 %
Cadeler A/S 853,000 48,910,246 44,953,100 0.36 %
Total Industrials 1,654,120,588 2,243,710,115 17.80 %

Information Technology

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Samsung Electronics Co Ltd 1,021,322 250,339,621 417,773,394 3.31 %
Nokia A 5,060,000 212,384,704 218,930,410 1.74 %
Tieto Oyj (EUR) 824,300 217,266,228 154,719,115 1.23 %
Applied Materials 68,100 54,830,036 109,997,031 0.87 %
Broadcom Inc 17,900 12,816,688 53,485,400 0.42 %
Total Information Technology 747,637,277 954,905,350 7.58 %

Materials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Yara International ASA 1,112,340 387,969,096 406,782,738 3.23 %
Upm-Kymmene 1,401,800 433,493,363 401,101,190 3.18 %
Boliden Limited B 1,144,242 313,042,487 395,689,924 3.14 %
Elopak ASA 2,126,041 58,164,506 100,030,229 0.79 %
Segezha Group PJSC 50,000,000 44,262,147 1,296,421 0.01 %
Total Materials 1,236,931,598 1,304,900,502 10.35 %

Consumer Staples

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Essity AB 1,366,000 369,694,110 370,593,311 2.94 %
Carlsberg B 243,647 266,129,151 299,571,492 2.38 %
Bakkafrost P/F 534,000 260,652,476 232,930,800 1.85 %
Molson Coors Beverage Co 264,900 145,422,822 134,382,644 1.07 %
Wal-Mart de Mexico SAB de CV 4,255,000 126,974,507 127,765,631 1.01 %
Tyson Foods A 213,900 123,711,493 122,028,712 0.97 %
Total Consumer Staples 1,292,584,559 1,287,272,590 10.21 %

Energy

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Shell PLC 897,000 240,856,380 333,248,233 2.64 %
TGS-NOPEC Geophysical Company 1,282,683 147,568,293 98,445,920 0.78 %
Paratus Energy Services Ltd 996,000 43,265,937 43,505,280 0.35 %
Northern Ocean Ltd 4,566,760 149,408,719 30,140,616 0.24 %
Gazprom PJSC 3,460,000 72,960,110 7,637,914 0.06 %
Total Energy 654,059,439 512,977,963 4.07 %

Communication Services

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Telenor ASA 1,935,000 256,749,052 324,306,000 2.57 %
Alphabet Inc Class A 94,730 121,631,657 202,646,660 1.61 %
Total Communication Services 378,380,709 526,952,660 4.18 %

Real Estate

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
CK Asset Holdings Ltd 5,724,548 283,755,769 270,915,846 2.15 %
Public Property Invest AS 8,627,033 128,709,803 209,205,550 1.66 %
Sveafastigheter AB 3,400,000 134,595,758 136,702,014 1.08 %
Total Real Estate 547,061,330 616,823,411 4.89 %

Consumer Discretionary

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Alibaba Group Holding Ltd 1,557,126 245,579,468 232,192,213 1.84 %
Hyundai Motor Co Ltd-PFD 69,174 48,009,774 82,487,567 0.65 %
Hugo Boss AG 139,447 58,932,631 69,026,188 0.55 %
Total Consumer Discretionary 352,521,874 383,705,967 3.04 %

Total

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Total Holdings 10,731,778,965 11,956,426,936 94.86 %
Available liquidity 647,648,405 5.14 %
Total AUM 12,604,075,341 100.00 %

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.