What does SPAF1 hold?

SPAF1's largest holdings are Kapitalforeningen Nykredit Alpha Infrastruktur Asl KL, 3.50% Nykredit Realkredit A/S 2046, 2.76% DLR Kredit A/S 2031, 0.10% Denmark I/L Government Bond 2030, 2.50% Realkredit Danmark A/S 2030. The full top list is on this page.

How concentrated is SPAF1?

The top 10 holdings are 15.8% of the fund, across 3,182 positions.

What does SPAF1 cost?

The total expense ratio on record is 1.03%. That is cheaper than 15% of the 434 European UCITS other funds we track.

Which sectors dominate SPAF1?

By weight of its equity holdings: Technology 6.7%, Financial Services 4.0%, Industrials 2.8%.

UCITS · Luxembourg · Accumulating

SPAF1 LU0139791205

Sparinv SICAV - Securus EUR R

SPAFFSE · Sparinvest

3,182 holdings as of 2026-06-30 · top 10 = 15.8% · TER 1.03%

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Concentration

Well diversifiedtop 10 = 15.8%

diversifiedconcentrated

GROWTH · NAV (EUR)rebased to 0%

Holdings

3,182

as of 2026-06-30

Top 10

15.8%

TER

1.03%

cheaper than 15% of peers

Net assets

€8.20M

reported in EUR

Largest

5.1%

P / E

–

Sections

Holdings as of 2026-06-30.

01Overview

the fund's regulatory facts

Distribution

Accumulating

Fund currency

EUR

Domicile

Luxembourg

Structure

Open-ended

First listed

2002-10-15

02Performance

market price return · as of 2026-09-10

-1.1%

-0.3%

+2.5%

YTD

+3.5%

+5.0%

03Holdings

50 largest · as of 2026-06-30

#	Company	Identifier	Weight
1	Kapitalforeningen Nykredit Alpha Infrastruktur Asl KL Supranational	–	3.4
2	3.50% Nykredit Realkredit A/S 2046 DK	–	2.1
3	2.76% DLR Kredit A/S 2031 DK	–	2.0
4	0.10% Denmark I/L Government Bond 2030 DK	–	1.8
5	2.50% Realkredit Danmark A/S 2030 DK	–	1.3
6	3.09% Danmarks Skibskredit A/S 2031 DK	–	1.1
7	Nvidia Corp US	NVDA	1.1
8	1.00% DLR Kredit A/S 2031 DK	–	1.0
9	1.00% DLR Kredit A/S 2030 DK	–	1.0
10	1.00% Danmarks Skibskredit A/S 2028 DK	–	0.9
11	Kapitalforeningen Nykredit Alpha Private Equity Asl KL Supranational	–	0.9
12	Apple Inc US	AAPL	0.8
13	3.00% Raiffeisenlandesbank Oberoesterreich AG 2031 AT	–	0.7
14	2.25% Denmark Government Bond 2033 DK	–	0.7
15	2.25% Denmark Government Bond 2035 DK	–	0.7
16	1.00% Realkredit Danmark A/S 2043 DK	–	0.7
17	1.00% Nordea Kredit Realkreditaktieselskab 2053 DK	–	0.7
18	1.00% DLR Kredit A/S 2050 DK	–	0.7
19	1.00% Danmarks Skibskredit A/S 2032 DK	–	0.6
20	1.00% Realkredit Danmark A/S 2030 DK	–	0.6
21	Amazon.com Inc US	AMZN	0.6
22	2.48% Realkredit Danmark A/S 2030 DK	–	0.6
23	1.50% Nordea Kredit Realkreditaktieselskab 2037 DK	–	0.5
24	0.50% Nordea Kredit Realkreditaktieselskab 2050 DK	–	0.5
25	5.00% Nykredit Realkredit A/S 2056 DK	–	0.5
26	3.09% Danmarks Skibskredit A/S 2029 DK	–	0.5
27	1.50% Nordea Kredit Realkreditaktieselskab 2053 DK	–	0.4
28	1.00% DLR Kredit A/S 2053 DK	–	0.4
29	1.00% Realkredit Danmark A/S 2029 DK	–	0.4
30	0.50% Nykredit Realkredit A/S 2052 DK	–	0.4
31	5.00% Nykredit Realkredit A/S 2043 DK	–	0.4
32	Broadcom Inc US	AVGO	0.4
33	Microsoft Corp US	MSFT	0.4
34	1.50% Nykredit Realkredit A/S 2040 DK	–	0.3
35	0.50% DLR Kredit A/S 2043 DK	–	0.3
36	1.50% Nordea Kredit Realkreditaktieselskab 2040 DK	–	0.3
37	Alphabet Inc US	GOOGL	0.3
38	5.00% Nordea Kredit Realkreditaktieselskab 2056 DK	–	0.3
39	Advanced Micro Devices US	AMD	0.3
40	3.00% UniCredit Bank Austria AG 2032 AT	–	0.3
41	2.77% Nykredit Realkredit A/S 2028 DK	–	0.3
42	2.82% Nykredit Realkredit A/S 2029 DK	–	0.2
43	2.59% Nykredit Realkredit A/S 2028 DK	–	0.2
44	Micron Technology Inc US	MU	0.2
45	1.50% Nykredit Realkredit A/S 2030 DK	–	0.2
46	1.00% Nordea Kredit Realkreditaktieselskab 2031 DK	–	0.2
47	4.00% DLR Kredit A/S 2056 DK	–	0.2
48	3.50% Jyske Realkredit A/S 2046 DK	–	0.2
49	Eli Lilly & Co US	LLY	0.2
50	Citigroup Inc US	C	0.2

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04Exposure

Equity 21.9%Other 78.0%

By sector

Technology6.7%

Financial Services4.0%

Industrials2.8%

Healthcare1.9%

Consumer Cyclical1.9%

Communication Services1.7%

Consumer Defensive1.1%

Materials0.9%

Energy0.4%

Utilities0.3%

Real Estate0.2%

By country

DKDenmark52.9%

USUnited States18.8%

SUPRANATIONALSUPRANATIONAL4.3%

FRFrance2.2%

DEGermany2.0%

JPJapan1.7%

GBUnited Kingdom1.5%

NLNetherlands1.2%

CurrencyDKK 52.9% USD 19.5% EUR 8.7% JPY 1.7% GBP 1.6%

06Where it trades

1 exchange

Exchange	MIC	Listed since
Nasdaq Copenhagen	XCSE	2002-10-15

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