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SKAGEN Focus A as of 31/12/2019

Consumer Staples

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Sao Martinho SA 1,290,000 54,931,739 66,840,641 4.12 %
Kroger Co 217,450 48,621,638 55,394,045 3.41 %
Stock Spirits Group PLC 977,400 24,906,731 23,494,793 1.45 %
Total Consumer Staples 128,460,108 145,729,479 8.97 %

Materials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Ivanhoe Mines Ltd 2,550,000 46,922,149 73,439,400 4.52 %
Dow Inc 143,095 61,979,129 68,818,525 4.24 %
Roxgold Inc 8,685,058 54,036,832 61,207,702 3.77 %
Oz Minerals 721,800 39,510,164 47,037,829 2.90 %
Fortuna Silver Mines Inc 1,256,162 37,935,686 45,029,936 2.77 %
Sumitomo Metal Mining 155,150 39,666,583 44,460,210 2.74 %
West Fraser Timber Co Ltd 100,027 37,781,715 38,825,787 2.39 %
ThyssenKrupp 229,095 26,723,065 27,207,219 1.68 %
Canfor Pulp Products Inc 457,789 37,947,270 25,934,127 1.60 %
Ence Energia y Celulosa S.A 709,300 26,277,978 25,676,633 1.58 %
Total Materials 408,780,571 457,637,368 28.18 %

Information Technology

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Hitachi 197,694 53,678,523 73,947,778 4.55 %
Avaya Holdings Corp 494,730 60,431,224 58,689,103 3.61 %
Hewlett Packard Enterprise Co 265,340 37,424,301 36,979,528 2.28 %
Total Information Technology 151,534,048 169,616,409 10.45 %

Health Care

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
MagForce AG 668,405 32,569,387 26,371,919 1.62 %
Total Health Care 32,569,387 26,371,919 1.62 %

Consumer Discretionary

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Toyota Industries 131,680 61,145,759 67,398,393 4.15 %
Hornbach Holding AG & Co KGaA 67,470 34,527,299 42,925,215 2.64 %
Hyundai Motor Co (pref shs) 49,451 38,798,897 29,834,888 1.84 %
Continental 18,330 22,653,599 20,839,300 1.28 %
Hyundai Motor Co Ltd-PFD 21,879 14,941,060 11,919,978 0.73 %
SAF-Holland SA 142,567 11,044,813 10,406,215 0.64 %
Total Consumer Discretionary 183,111,427 183,323,989 11.29 %

Communication Services

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
China Unicom Hong Kong 8,630,000 79,460,332 71,437,219 4.40 %
Telecom Italia S 6,485,715 33,384,733 34,916,721 2.15 %
ViacomCBS Inc 80,596 30,682,101 29,724,045 1.83 %
ViacomCBS Inc 35,396 18,124,366 13,956,153 0.86 %
Tokyo Broadcasting 51,560 8,044,558 7,779,480 0.48 %
Total Communication Services 169,696,090 157,813,618 9.72 %

Financials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Bank Kyoto 203,821 73,790,884 77,459,163 4.77 %
UniCredit SPA 391,300 45,051,308 50,253,104 3.09 %
Korean Reinsurance Co 699,967 42,559,263 48,453,458 2.98 %
Nova Ljubljanska Banka dd 274,733 28,617,439 32,681,365 2.01 %
Lincoln National Corp 33,300 17,462,461 17,267,334 1.06 %
Total Financials 207,481,355 226,114,424 13.92 %

Industrials

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Pasona Group Inc 390,915 42,930,988 50,447,684 3.11 %
Hitachi Constr. Machine 162,807 35,003,457 43,244,857 2.66 %
Teikoku Sen-I Co Ltd 141,480 22,273,817 27,032,411 1.66 %
Total Industrials 100,208,262 120,724,952 7.43 %

Energy

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
OMV AG 170,000 74,560,606 83,976,022 5.17 %
Total Energy 74,560,606 83,976,022 5.17 %

Total

Security Number Acquisition value (NOK) Market value (NOK) Percentage distribution
Total Holdings 1,456,401,854 1,571,308,180 96.76 %
Available liquidity 52,599,267 3.24 %
Total AUM 1,623,907,447 100.00 %
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Historical returns are no guarantee for future returns. Future returns will depend, inter alia, on market developments, the fund manager's skill, the fund's risk profile and management fees. The return may become negative as a result of negative price developments.