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Overview of all investments

SKAGEN Vekst A as of 31/01/2025

Health Care

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Novo Nordisk A/S 1,028,600 610,865,414 983,743,874 7.93 %
H. Lundbeck A/S 4,250,400 226,988,997 295,055,442 2.38 %
Total Health Care 837,854,411 1,278,799,316 10.31 %

Financials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Nordea Bank Abp 3,365,000 282,308,039 453,506,401 3.66 %
Ping An Insurance Group 6,726,816 442,438,113 429,641,220 3.46 %
Citigroup 457,100 199,458,842 420,768,454 3.39 %
KB Financial Group 528,000 213,583,660 376,691,349 3.04 %
Hana Financial Holdings 741,066 364,823,634 348,814,597 2.81 %
Korean Reinsurance Co 3,840,358 170,689,280 246,196,181 1.98 %
American International Group 269,000 96,317,495 223,991,486 1.81 %
B3 SA - Brasil Bolsa Balcao 6,757,700 138,862,318 146,337,212 1.18 %
HitecVision AS 715,250 6,488,468 100,135,000 0.81 %
Kinnevik AB 1,069,779 118,914,313 96,007,863 0.77 %
Chubb Ltd 29,700 33,646,255 91,281,176 0.74 %
Sberbank of Russia PJSC (pref) 6,933,020 126,841,634 28,893,812 0.23 %
Total Financials 2,194,372,051 2,962,264,751 23.88 %

Industrials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
DSV A/S 200,000 269,321,011 452,289,677 3.65 %
ISS A/S 1,877,000 379,394,900 402,008,671 3.24 %
Volvo B 998,400 134,692,761 312,994,400 2.52 %
Bonheur 1,232,000 137,761,302 300,608,000 2.42 %
CK Hutchison Holdings Ltd 4,183,500 342,155,870 237,929,083 1.92 %
Cadeler A/S 380,721 51,033,826 89,992,928 0.73 %
Vestas Wind System 537,157 129,632,924 83,696,132 0.67 %
Cadeler A/S 405,000 24,630,615 24,381,000 0.20 %
Total Industrials 1,468,623,208 1,903,899,891 15.35 %

Communication Services

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Telenor ASA 3,247,000 430,834,198 449,384,800 3.62 %
Alphabet Inc Class A 103,642 117,644,767 239,032,000 1.93 %
China Mobile Ltd 1,980,915 130,818,162 217,562,185 1.75 %
Millicom International Cellular SA (SDR) 432,500 83,370,333 131,121,974 1.06 %
SK Telecom 76,076 24,834,861 32,789,880 0.26 %
Total Communication Services 787,502,322 1,069,890,837 8.62 %

Materials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
UPM-Kymmene Oyj 1,245,700 391,713,456 415,743,157 3.35 %
Yara International 1,184,000 412,963,131 401,376,000 3.24 %
Boliden Limited B 1,161,146 309,512,137 395,704,186 3.19 %
Elopak ASA 2,126,041 58,164,506 87,699,191 0.71 %
Segezha Group PJSC 50,000,000 44,262,147 1,023,313 0.01 %
Total Materials 1,216,615,378 1,301,545,847 10.49 %

Consumer Staples

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Essity AB 1,270,031 340,309,473 364,656,769 2.94 %
Carlsberg B 228,300 238,919,082 271,303,222 2.19 %
Tyson Foods A 240,600 137,697,578 153,643,685 1.24 %
Lerøy Seafood 1,433,379 62,454,898 80,484,231 0.65 %
Bakkafrost P/F 75,700 39,999,580 48,940,050 0.39 %
Total Consumer Staples 819,380,610 919,027,957 7.41 %

Energy

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Shell PLC 893,100 237,433,606 337,475,235 2.72 %
Cnooc Ltd 6,456,526 66,063,080 172,735,464 1.39 %
TGS-NOPEC Geophysical Company 1,282,683 147,568,293 146,738,935 1.18 %
Paratus Energy Services Ltd 996,000 47,802,179 44,381,760 0.36 %
Northern Ocean Ltd 4,566,760 149,408,719 34,981,382 0.28 %
Gazprom PJSC 3,460,000 72,960,110 7,242,800 0.06 %
Avenir LNG Ltd UNIT NOK 399,000 3,358,582 3,990,000 0.03 %
Total Energy 724,594,570 747,545,576 6.03 %

Information Technology

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Samsung Electronics Co Ltd 943,300 221,347,717 315,573,610 2.54 %
Nokia A 5,052,823 210,363,761 269,606,942 2.17 %
Tieto Oyj (EUR) 824,300 217,266,228 179,980,028 1.45 %
Broadcom Inc 66,700 30,299,600 166,838,350 1.34 %
Applied Materials 68,000 48,240,891 138,634,901 1.12 %
Total Information Technology 727,518,198 1,070,633,830 8.63 %

Consumer Discretionary

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Alibaba Group Holding Ltd 1,939,926 306,015,603 270,941,900 2.18 %
Hyundai Motor Co Ltd-PFD 69,174 48,009,774 86,646,526 0.70 %
Total Consumer Discretionary 354,025,377 357,588,426 2.88 %

Real Estate

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
CK Asset Holdings Ltd 4,935,548 248,841,301 232,365,567 1.87 %
Public Property Invest AS 8,991,411 129,887,801 169,757,840 1.37 %
Sveafastigheter AB 2,025,316 82,982,760 74,941,017 0.60 %
Total Real Estate 461,711,861 477,064,423 3.85 %

Unclassified

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Skandinaviska Enskilda Banken AB 7,462,200 11,761,730 11,748,713 0.09 %
FX spot_EUR/DKK_SEBA-STO_20250204 -1,000,000 -11,761,730 -11,747,967 -0.09 %
Total Unclassified 0 746 0.00 %

Total

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Total Holdings 9,884,471,313 12,112,860,590 97.63 %
Available liquidity 293,971,219 2.37 %
Total AUM 12,406,831,809 100.00 %

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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