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Overview of all investments

SKAGEN Vekst A as of 30/11/2025

Health Care

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Novo Nordisk A/S 1,438,700 870,350,345 716,645,852 5.23 %
H. Lundbeck A/S 4,014,000 215,148,163 280,176,050 2.04 %
Total Health Care 1,085,498,508 996,821,902 7.27 %

Financials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Nordea Bank Abp 2,968,000 263,065,619 531,587,833 3.88 %
Ping An Insurance Group 6,526,816 430,086,963 480,670,571 3.51 %
Hana Financial Holdings 741,066 364,823,634 475,428,418 3.47 %
Citigroup 416,600 194,681,748 436,448,757 3.18 %
KB Financial Group 454,577 192,168,897 390,093,442 2.85 %
B3 SA - Brasil Bolsa Balcao 8,582,000 183,454,387 242,982,486 1.77 %
Korean Reinsurance Co 2,903,698 129,058,312 231,409,661 1.69 %
American International Group Inc 200,600 83,364,301 154,494,173 1.13 %
Kinnevik AB 1,502,008 155,232,870 141,233,101 1.03 %
HitecVision AS 715,250 6,488,468 92,982,500 0.68 %
Sberbank of Russia PJSC (pref) 6,933,020 126,841,634 35,389,723 0.26 %
Total Financials 2,129,266,834 3,212,720,665 23.43 %

Industrials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
ISS A/S 1,525,100 311,763,140 509,970,472 3.72 %
DSV A/S 192,148 294,717,765 443,087,057 3.23 %
Bonheur 1,518,858 203,433,039 340,224,192 2.48 %
Skf Svenska Kullager Fabrikker B 1,149,000 269,571,000 304,285,766 2.22 %
Volvo B 971,000 137,205,183 294,417,276 2.15 %
CK Hutchison Holdings Ltd 3,548,000 286,171,564 253,229,567 1.85 %
Cadeler A/S 1,700,000 87,915,724 75,786,000 0.55 %
Cadeler A/S 380,721 51,033,826 67,413,553 0.49 %
TaskUS Inc 521,200 67,715,371 60,453,586 0.44 %
Vestas Wind System 144,300 28,787,932 34,726,292 0.25 %
Total Industrials 1,738,314,543 2,383,593,762 17.39 %

Information Technology

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Samsung Electronics Co Ltd 915,200 224,327,706 471,980,309 3.44 %
Nokia A 4,090,000 171,670,640 251,617,258 1.84 %
Tieto Oyj (EUR) 888,500 230,824,060 186,651,104 1.36 %
Applied Materials 24,700 19,886,959 63,006,067 0.46 %
Total Information Technology 646,709,365 973,254,738 7.10 %

Materials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Yara International ASA 1,112,340 387,969,096 411,009,630 3.00 %
Upm-Kymmene 1,476,000 453,373,956 407,248,119 2.97 %
Boliden Limited B 782,300 214,022,154 378,952,008 2.76 %
Wienerberger 430,004 133,714,759 148,973,475 1.09 %
Elopak ASA 2,126,041 58,164,506 104,601,217 0.76 %
BASF SE 83,523 41,260,720 44,012,144 0.32 %
Segezha Group PJSC 50,000,000 44,262,147 1,037,248 0.01 %
Total Materials 1,332,767,337 1,495,833,842 10.91 %

Consumer Staples

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Essity AB 1,415,200 383,441,476 396,328,815 2.89 %
Carlsberg B 247,070 272,165,411 310,433,003 2.26 %
Bakkafrost P/F 619,400 299,747,344 287,897,120 2.10 %
Tyson Foods A 262,300 149,231,176 153,976,610 1.12 %
Molson Coors Beverage Co 294,200 158,492,279 138,370,416 1.01 %
Nomad Foods Ltd 1,110,000 136,065,323 137,278,864 1.00 %
Wal-Mart de Mexico SAB de CV 3,849,000 114,858,961 131,679,180 0.96 %
Total Consumer Staples 1,514,001,970 1,555,964,009 11.35 %

Energy

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Shell PLC 860,400 231,028,796 321,711,269 2.35 %
TGS-NOPEC Geophysical Company 1,530,000 167,008,886 133,033,500 0.97 %
Paratus Energy Services Ltd 996,000 43,265,937 43,704,480 0.32 %
Northern Ocean Ltd 4,566,760 149,408,719 37,630,102 0.27 %
Gazprom PJSC 3,460,000 72,960,110 7,506,957 0.05 %
Total Energy 663,672,448 543,586,309 3.97 %

Real Estate

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
CK Asset Holdings Ltd 5,937,548 294,894,154 307,865,321 2.25 %
Public Property Invest AS 8,627,033 128,709,803 191,088,781 1.39 %
Sveafastigheter AB 3,400,000 134,595,758 151,137,721 1.10 %
Fastighets AB Balder (B shs) 920,000 66,182,761 66,996,198 0.49 %
Total Real Estate 624,382,477 717,088,022 5.23 %

Communication Services

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Telenor ASA 1,859,400 246,717,927 271,658,340 1.98 %
Alphabet Inc Class A 63,900 82,046,478 206,894,668 1.51 %
Total Communication Services 328,764,405 478,553,008 3.49 %

Consumer Discretionary

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Alibaba Group Holding Ltd 1,365,426 218,102,371 268,685,300 1.96 %
Hyundai Motor Co Ltd-PFD 64,840 45,001,789 85,826,291 0.63 %
Hugo Boss AG 172,000 72,957,822 77,231,330 0.56 %
Total Consumer Discretionary 336,061,981 431,742,921 3.15 %

Total

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Total Holdings 11,235,880,859 12,866,428,448 93.85 %
Available liquidity 842,651,452 6.15 %
Total AUM 13,709,079,900 100.00 %

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.