Companies in SKAGEN Focus | SKAGEN Funds - SKAGEN Funds

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SKAGEN Focus A as of 31/08/2026

Materials

Security	Number	Acquisition value (NOK)	Market value (NOK)	Percentage distribution
Methanex Corp	250,959	113,659,207	138,318,291	4.19 %
KCC Corp	36,873	100,288,108	119,399,779	3.61 %
Acerinox	502,093	65,357,605	97,717,420	2.96 %
West Fraser Timber Co Ltd	127,561	82,690,540	81,290,637	2.46 %
ERO Copper Corp	199,858	53,368,999	69,380,834	2.10 %
Taiheiyo Cement	276,707	72,329,426	68,689,116	2.08 %
Amex Gold Mining Inc	1,753,063	53,765,063	51,784,666	1.57 %
Wienerberger	242,140	76,325,743	51,543,325	1.56 %
Equinox Gold Corp	377,918	45,400,984	45,439,294	1.38 %
Solvay	134,639	47,605,602	37,784,459	1.14 %
Semen Indonesia (Persero)	33,630,000	27,156,711	26,268,877	0.80 %
Wacker Chemie	22,417	19,611,327	22,848,705	0.69 %
Total Materials		757,559,316	810,465,404	24.53 %

Financials

Security	Number	Acquisition value (NOK)	Market value (NOK)	Percentage distribution
Korean Reinsurance Co	1,180,000	42,732,695	115,597,347	3.50 %
Samsung Fire & Marine Insurance Co Ltd	39,274	85,241,654	114,296,108	3.46 %
EXOR NV	134,394	122,249,516	106,768,719	3.23 %
Everest Group	27,672	88,810,028	96,930,246	2.93 %
Bangkok Bank PCL (foreign shs)	1,754,900	83,994,481	94,507,116	2.86 %
T Rowe Price Group Inc	80,960	83,116,489	84,232,686	2.55 %
Banco del Bajio SA	2,271,000	55,982,486	71,807,870	2.17 %
Alior Bank SA	176,572	48,259,887	58,497,382	1.77 %
BNK Financial Group Inc	510,926	39,018,978	53,054,020	1.61 %
iM Financial Group Co Ltd	379,719	23,403,906	47,964,061	1.45 %
Halyk Savings Bank of Kazakhstan JSC	36,456	11,585,350	11,554,782	0.35 %
Total Financials		684,395,468	855,210,337	25.88 %

Consumer Discretionary

Security	Number	Acquisition value (NOK)	Market value (NOK)	Percentage distribution
Aumovio SE	280,883	118,886,012	111,954,444	3.39 %
Hyundai Mobis	28,378	55,928,860	87,917,592	2.66 %
Versigent Ltd	186,861	55,387,822	82,811,384	2.51 %
TUI AG (EUR)	1,009,365	91,074,358	77,108,175	2.33 %
Aisan Industry Co Ltd	440,143	58,142,014	61,433,035	1.86 %
Forvia	608,214	65,987,114	60,374,344	1.83 %
Mazda Motor Corp	623,941	51,004,000	45,004,522	1.36 %
Renault	136,202	43,761,744	43,962,473	1.33 %
Mando Corp	115,289	41,934,623	40,797,574	1.23 %
Halla Holdings Corporation	145,357	40,871,904	40,564,369	1.23 %
SEB SA	52,650	34,817,190	34,251,139	1.04 %
Subaru Corporation	191,877	29,376,474	29,971,651	0.91 %
Brembo N.V.	120,384	13,073,498	13,231,196	0.40 %
Total Consumer Discretionary		700,245,613	729,381,899	22.08 %

Communication Services

Security	Number	Acquisition value (NOK)	Market value (NOK)	Percentage distribution
Omnicom Group Inc	122,803	91,617,800	100,498,351	3.04 %
Telekomunikasi Indonesia TBK	35,000,000	54,049,192	48,027,980	1.45 %
Total Communication Services		145,666,992	148,526,331	4.50 %

Industrials

Security	Number	Acquisition value (NOK)	Market value (NOK)	Percentage distribution
Swire Pacific Ltd	5,104,820	71,261,718	92,907,842	2.81 %
Hitachi Constr. Machine	260,220	81,437,158	87,372,753	2.64 %
Befesa SA	194,622	67,990,578	76,409,974	2.31 %
Grupo Traxion SAB de CV	10,928,000	125,807,477	68,507,673	2.07 %
GT Capital Holdings Inc	870,061	90,987,749	62,247,622	1.88 %
CNH Industrial NV	541,622	59,214,265	59,906,517	1.81 %
KION Group AG	104,464	46,936,599	50,282,426	1.52 %
MARCOPOLO SA Preference	5,990,838	64,178,228	47,570,124	1.44 %
Cie de Saint-Gobain SA	55,076	48,715,658	46,847,335	1.42 %
Vesuvius	904,978	50,050,491	44,577,035	1.35 %
Hyosung Corp	25,232	27,649,876	28,751,760	0.87 %
Total Industrials		734,229,797	665,381,061	20.14 %

Consumer Staples

Security	Number	Acquisition value (NOK)	Market value (NOK)	Percentage distribution
E-MART Inc	74,728	45,028,373	37,930,527	1.15 %
Total Consumer Staples		45,028,373	37,930,527	1.15 %

Total

Security	Number	Acquisition value (NOK)	Market value (NOK)	Percentage distribution
Total Holdings		3,183,818,871	3,246,895,559	98.27 %
Available liquidity			57,105,496	1.73 %
Total AUM			3,304,001,055	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.