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Overview of all investments

SKAGEN Focus A as of 28/02/2026

Materials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
KCC Corp 33,456 89,502,932 144,039,553 4.35 %
Wienerberger 249,444 84,668,516 77,892,256 2.35 %
Methanex Corp 159,125 58,896,000 76,493,313 2.31 %
West Fraser Timber Co Ltd 105,139 68,876,137 66,495,248 2.01 %
Taiheiyo Cement 203,002 55,365,385 55,577,770 1.68 %
Wacker Chemie 55,750 48,772,426 50,597,920 1.53 %
Aya Gold & Silver Inc 242,574 35,977,169 49,966,316 1.51 %
Acerinox 292,097 34,503,082 44,391,653 1.34 %
Aperam SA 70,604 20,744,813 35,227,700 1.06 %
Solvay 113,021 41,230,930 35,190,772 1.06 %
Total Materials 538,537,390 635,872,502 19.19 %

Consumer Discretionary

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Hyundai Mobis Co Ltd 41,216 76,427,313 140,923,411 4.25 %
Aumovio SE 265,335 113,798,614 125,354,589 3.78 %
Mazda Motor Corp 1,058,026 86,488,239 89,517,225 2.70 %
Beazer Homes USA Inc 288,077 78,788,011 70,104,336 2.12 %
TUI AG (EUR) 746,269 71,227,523 67,730,330 2.04 %
Aisan Industry Co Ltd 417,008 57,648,629 58,341,912 1.76 %
Brembo N.V. 498,396 54,671,548 56,318,225 1.70 %
SEB SA 77,849 52,678,459 45,601,988 1.38 %
Forvia 203,814 22,322,929 27,655,236 0.83 %
B&M European Value Retail SA 962,525 28,704,706 23,514,101 0.71 %
Total Consumer Discretionary 642,755,972 705,061,352 21.28 %

Financials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Korean Reinsurance Co 1,180,000 42,732,695 108,473,479 3.27 %
Banco del Bajio SA 2,890,000 71,241,472 92,008,291 2.78 %
EXOR NV 106,857 102,083,936 89,240,168 2.69 %
Samsung Fire & Marine Insurance Co Ltd 30,676 64,563,745 83,482,478 2.52 %
Banca Monte dei Paschi di Siena SpA 768,915 68,078,277 71,668,480 2.16 %
Alior Bank SA 213,585 58,376,118 67,993,037 2.05 %
BNK Financial Group Inc 510,926 39,018,978 67,342,939 2.03 %
T Rowe Price Group Inc 74,412 76,861,237 66,989,629 2.02 %
iM Financial Group Co Ltd 492,728 30,369,193 59,926,061 1.81 %
PEUGEOT INVEST 67,131 64,170,057 55,045,574 1.66 %
Everest Group 14,551 47,366,230 46,441,707 1.40 %
Total Financials 664,861,938 808,611,842 24.40 %

Industrials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
DL E&C Co Ltd 276,579 84,057,260 94,749,237 2.86 %
Swire Pacific B 5,104,820 71,261,718 85,864,555 2.59 %
GT Capital Holdings Inc 710,547 78,883,726 78,540,250 2.37 %
Takuma Co 420,655 50,099,937 78,179,030 2.36 %
Befesa SA 186,255 65,046,387 71,131,716 2.15 %
Ayvens SA 572,360 67,199,927 69,433,564 2.10 %
Grupo Traxion SAB de CV 9,109,380 113,556,911 66,988,140 2.02 %
Takeuchi Manufacturing Co Ltd 135,595 53,326,670 61,968,263 1.87 %
CNH Industrial NV 456,536 51,507,177 53,421,478 1.61 %
Doosan Bobcat Inc 116,670 43,123,556 50,153,277 1.51 %
Vesuvius 693,013 39,179,701 44,266,268 1.34 %
Total Industrials 717,242,968 754,695,780 22.77 %

Consumer Staples

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Albertsons Cos Inc 382,148 72,140,518 65,075,929 1.96 %
E-Mart co Ltd 64,069 38,527,593 44,490,164 1.34 %
Tate & Lyle 626,267 54,415,170 30,166,355 0.91 %
Total Consumer Staples 165,083,281 139,732,448 4.22 %

Information Technology

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Siltronic AG 87,782 59,460,881 56,597,049 1.71 %
Lenovo Group 4,663,700 52,508,493 55,189,284 1.67 %
Total Information Technology 111,969,374 111,786,333 3.37 %

Communication Services

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Omnicom Group Inc 45,998 35,636,651 37,322,680 1.13 %
Akatsuki Inc 168,340 28,459,913 31,593,841 0.95 %
TF1 - Television Francaise 209,246 20,858,345 17,087,086 0.52 %
Total Communication Services 84,954,908 86,003,607 2.60 %

Total

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Total Holdings 2,997,802,931 3,242,431,079 97.84 %
Available liquidity 71,456,853 2.16 %
Total AUM 3,313,887,932 100.00 %

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.