Carlsberg Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

CPSE:CARL B Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
19 Aug 25	BuyDKK 193,750	Majken Schultz	Individual	250	DKK 775.00
14 Aug 25	BuyDKK 380,400	Magdi Batato	Individual	500	DKK 760.80
14 Aug 25	BuyDKK 1,936,091	Robert Kunze-Concewitz	Individual	2,500	DKK 774.44
14 Nov 24	BuyDKK 2,000,304	Henrik Poulsen	Individual	2,773	DKK 721.35
05 Nov 24	BuyDKK 743,860	Magdi Batato	Individual	1,000	DKK 743.86

Insider Trading Volume

Insider Buying: CARL B insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of CARL B?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	18,268	0.0138%
General Public	48,793,332	36.9%
Institutions	83,266,987	63%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 57.66% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
30.1%	Carlsberg Foundation	39,779,723	DKK 31.4b	0%	no data
7.77%	Capital Research and Management Company	10,268,366	DKK 8.1b	0.17%	0.05%
2.97%	The Vanguard Group, Inc.	3,916,785	DKK 3.1b	0.76%	0.01%
2.57%	Massachusetts Financial Services Company	3,393,546	DKK 2.7b	1.65%	0.08%
2.54%	BlackRock, Inc.	3,350,875	DKK 2.6b	-0.12%	0.01%
1.61%	Deutsche Asset & Wealth Management	2,129,175	DKK 1.7b	-0.94%	0.06%
1.49%	Norges Bank Investment Management	1,968,924	DKK 1.6b	-15.1%	0.02%
1.27%	JP Morgan Asset Management	1,672,776	DKK 1.3b	0.58%	0.02%
0.85%	Nordea Investment Management, AB	1,127,932	DKK 890.7m	0%	0.08%
0.83%	Dimensional Fund Advisors LP	1,101,404	DKK 869.8m	1.15%	0.02%
0.73%	Amundi Asset Management SAS	959,293	DKK 757.6m	0%	0.02%
0.55%	Invesco Ltd.	728,661	DKK 575.4m	-0.08%	0.02%
0.53%	Geode Capital Management, LLC	695,533	DKK 549.3m	1.91%	no data
0.48%	Janus Henderson Group plc	633,717	DKK 500.5m	-34.8%	0.03%
0.47%	Teachers Insurance and Annuity Association-College Retirement Equities Fund	621,480	DKK 490.8m	-2.49%	0.01%
0.43%	Lord, Abbett & Co. LLC	562,215	DKK 444.0m	-0.27%	0.19%
0.36%	Bi Asset Management FondsmÆGlerselskab A/S	474,027	DKK 374.3m	0%	0.35%
0.34%	Beutel Goodman & Company Ltd.	445,784	DKK 352.0m	0%	0.24%
0.27%	Lazard Asset Management LLC	362,715	DKK 286.4m	-21.6%	0.04%
0.26%	Charles Schwab Investment Management, Inc.	342,165	DKK 270.2m	0%	0.01%
0.26%	Handelsbanken Asset Management	341,067	DKK 269.3m	0%	0.05%
0.26%	AllianceBernstein L.P.	339,517	DKK 268.1m	-15.1%	0.01%
0.25%	ID-Sparinvest, Filial af Sparinvest S.A., Luxembourg	330,453	DKK 261.0m	0%	0.27%
0.24%	State Street Global Advisors, Inc.	311,373	DKK 245.9m	3.36%	no data
0.23%	Assenagon Asset Management S.A.	303,992	DKK 240.1m	-41.9%	0.05%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/10/06 09:53
End of Day Share Price	2025/10/03 00:00
Earnings	2025/06/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Carlsberg A/S is covered by 59 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	ABG Sundal Collier
Anthony Bucalo	Banco Santander
Alexandra Oldroyd	Barclays