Voting rights, %
  2012 2011
Industrivärden 19.5 15.6
Violet Partners LP 6.5 5.6
SHB (2  5.5 4.7
Norges Bank Investment Management  5.1 2.4
AMF Insurance & Funds 5.0 3.9
     

Renault s.a.s., which was the largest owner at December 31, 2011, during 2012 divested its entire holding corresponding to 17.7% of the votes.

1) Adjusted for shares owned by AB Volvo, which carry no voting rights at the AGM. AB Volvo held 20,728,135 class A shares and 80,013,209 class B shares comprising in total 4.7% of the number of registered shares on December 31, 2012.
2) Comprises shares held by SHB, SHB Pension Fund, SHB Employee Fund, SHB Pensionskassa and Oktogonen.