Time to open the first door of this year’s Advent calendar!❄️
Each day leading up to Christmas, the holdings – from the smallest to the largest – in the European equity fund CB European Quality Fund and the environmental fund CB Save Earth Fund will be presented. Behind door number one are DSV, the smallest holding in the European fund, and Kadant, the smallest holding in the environmental fund.
DSV – a global logistics leader and one of the world’s largest players in road, air, and sea freight.
⭐ Over the past 20 years, the company has grown from a small Nordic road-transport forwarder into one of the world’s largest air and sea freight operators.
⭐ Known for rapid post-acquisition integration and cost reductions – after acquiring Agility GIL, DSV became one of the three largest freight forwarders globally.
⭐ Owns no fleets of its own but purchases capacity, providing flexibility and low capital intensity.
🌱 DSV works in line with the UN Sustainable Development Goals and has set SBTi-verified CO₂-reduction targets.
Kadant – a specialised industrial company manufacturing critical components and systems for paper and packaging production.
⭐ Supplies fluid-handling, steam, and filtration systems that improve efficiency and reduce energy and resource consumption.
⭐ High share of recurring revenue through spare parts and service.
⭐ Global presence across North America, Europe, and Asia.
🌱 Kadant works in line with the UN Sustainable Development Goals, has set SBTi-verified CO₂-reduction targets, and generates EU-taxonomy-aligned revenue.
Door number 2!🎁
Behind the second door we find Lagercrantz, the second-smallest holding in the CB European Quality Fund, and Legrand, the second-smallest holding in the CB Save Earth Fund.
Lagercrantz – a Swedish serial acquirer specialised in technology companies.
⭐ Lagercrantz consists of around 80 specialised B2B companies, each focused on profitable niches with clear leadership potential.
⭐ The subsidiaries operate with a high degree of autonomy, retaining their entrepreneurial spirit while receiving support and structure from the group to enable long-term, stable growth.
⭐ The group’s decentralised model and its ability to identify and develop high-quality companies have become key drivers of Lagercrantz’s long-term value creation.
🌱 Lagercrantz meets the Article 9 requirements of the European equity fund, partly by setting internal CO₂ reduction targets aligned with the Paris Agreement.
Legrand – a French global leader in electrical and digital building infrastructure.
⭐ The company is often the market leader in its niches, and its broad product range, global reach, and strong brand allow it to maintain price premiums and stable profitability.
⭐ Legrand benefits from long-term trends such as electrification, energy efficiency, and the digitalisation of buildings, which drive steady demand across economic cycles.
⭐ Its offering spans everything from residential wall outlets to complete data-centre and IT infrastructure systems, giving the company broad exposure to both the construction and IT sectors.
🌱 Legrand meets the Article 9 requirements of the environmental fund, partly through its work with the UN Sustainable Development Goals and its SBTi-verified CO₂ reduction targets.
The holdings and data presented in the CB Funds Advent calendar are as of 2025-11-30. Please remember that all investments involve risk. Unit prices may rise or fall, and investments are always associated with the risk of loss. Past performance is not a guarantee of future results. This is not investment advice.
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