| Name | Equities | % | Valuation |
 Kone Oyj (KNEBV)
(Heavy Electrical Equipment) | 16,350,000 | 3.61% | 794,980,328 USD |
Cargotec Oyj (CGCBV)
(Heavy Machinery & Vehicles) | 6,209,207 | 11.3% | 217,342,363 USD |
 Instalco AB (publ) (INSTAL)
(Construction & Engineering) | 10,422,560 | 4.00% | 64,929,839 USD |
Eltel AB (publ) (ELTEL)
(Integrated Telecommunications Services) | 21,220,000 | 13.5% | 25,026,231 USD |
Oriola Oyj (OKDBV)
(Drug Retailers) | 6,400,000 | 5.01% | 13,942,208 USD |
Consti Oyj (CONSTI)
(Construction & Engineering) | 651,339 | 8.29% | 6,871,301 USD |
Oriola Oyj (OKDAV)
(Drug Retailers) | 2,600,000 | 4.84% | 5,568,030 USD |
Scandinavian Biogas Fuels International AB (publ) (BIOGAS)
(Renewable Fuels) | 1,951,105 | 6.39% | 4,383,001 USD |
Teleste Corporation (TLT1V)
(Communications & Networking) | 650,000 | 3.42% | 3,161,158 USD |
Spinnova Oyj (SPINN)
(Textiles & Leather Goods) | 260,000 | 0.51% | 2,194,296 USD |
| Cargotec Oyj Class A | 2,940,067 | 30.9% | 1,424,021 USD |
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