Carlsberg Ownership

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

Recent Insider Transactions

BATS-CHIXE:CARLBC 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

Insider Trading Volume

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

Ownership Breakdown

What is the ownership structure of CARLBC?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	18,268	0.0138%
General Public	49,458,033	37.4%
Institutions	82,602,286	62.5%

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

Top Shareholders

Top 25 shareholders own 57.19% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
30.1%	Carlsberg Foundation	39,779,723	DKK 32.7b	0%	no data
7.32%	Capital Research and Management Company	9,664,252	DKK 8.0b	-5.73%	0.05%
2.99%	The Vanguard Group, Inc.	3,952,073	DKK 3.3b	1.66%	0.01%
2.56%	Massachusetts Financial Services Company	3,385,865	DKK 2.8b	1.42%	0.09%
2.54%	BlackRock, Inc.	3,361,088	DKK 2.8b	-0.08%	0.01%
1.62%	Deutsche Asset & Wealth Management	2,138,789	DKK 1.8b	-0.14%	0.06%
1.49%	Norges Bank Investment Management	1,968,924	DKK 1.6b	-15.1%	0.02%
1.37%	JP Morgan Asset Management	1,804,100	DKK 1.5b	8.48%	0.02%
0.85%	Dimensional Fund Advisors LP	1,118,521	DKK 920.7m	2.75%	0.02%
0.81%	Nordea Investment Management, AB	1,071,223	DKK 881.8m	-5.03%	0.07%
0.7%	Amundi Asset Management SAS	922,958	DKK 759.8m	0%	0.02%
0.55%	Invesco Ltd.	732,793	DKK 603.2m	-0.08%	0.02%
0.53%	Geode Capital Management, LLC	696,949	DKK 573.7m	2.11%	no data
0.48%	Janus Henderson Group plc	633,563	DKK 521.5m	-34.8%	0.03%
0.43%	Teachers Insurance and Annuity Association-College Retirement Equities Fund	562,699	DKK 463.2m	-11.7%	0.01%
0.41%	Lord, Abbett & Co. LLC	540,777	DKK 445.2m	-4.08%	0.19%
0.36%	Bi Asset Management FondsmÆGlerselskab A/S	474,027	DKK 390.2m	0%	0.36%
0.34%	Beutel Goodman & Company Ltd.	445,784	DKK 367.0m	0%	0.26%
0.26%	Charles Schwab Investment Management, Inc.	347,762	DKK 286.3m	1.64%	0.01%
0.26%	Handelsbanken Asset Management	341,067	DKK 280.8m	0%	0.06%
0.26%	AllianceBernstein L.P.	338,990	DKK 279.1m	-15.3%	0.01%
0.25%	ID-Sparinvest, Filial af Sparinvest S.A., Luxembourg	333,047	DKK 274.2m	0%	0.28%
0.24%	State Street Global Advisors, Inc.	318,092	DKK 261.9m	5.59%	no data
0.23%	Assenagon Asset Management S.A.	303,992	DKK 250.2m	-41.9%	0.05%
0.23%	Lazard Asset Management LLC	298,575	DKK 245.8m	-17.7%	0.03%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/11/14 16:57
End of Day Share Price	2025/11/14 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 46 analysts. 20 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
Laurence Whyatt	Barclays