What do you have in your portfolio?

[Vahemmistoomistaja]

Portfolio update for Friday evening. It’s been quite a hectic few days, and the portfolio has certainly melted down quite nicely. Or well, it’s not nice, I guess this is testing my investment strategy and belief in it, and much more. On the other hand, the world is quite chaotic, so I guess it all reflects in the market.

So, what have I been doing over the past half year or so? Well, I think I’ve acted the same way as before. I buy what I consider good companies and own them long-term. I’ve sold small portions of Konecranes when I’ve just had to realize good profits; typically, I’m really bad at this, I need to practice that too. Otherwise, I’ve been buying and continuing to diversify. I practically have a list of companies I think I’d like to own, and I pick them up for the portfolio when I have cash. All investable cash goes into the market quite quickly. Even today, I put money into stocks during big dips; was it wise, time will tell…

It seems that since the last update, the portfolio has mainly acquired Swedish listed companies. I’ve been looking at them for a long time too. This time, however, not those investment companies.

Is the portfolio over-diversified? Many would probably say yes, but I think it will grow even more. An interesting interview, by the way, on Inderes Nordic, where they interviewed the former host of Börspodden, and if I remember correctly, he said he has hundreds of companies in one portfolio… so there’s still a bit of a way to go.

I like dividends, so the portfolio’s dividend yield is 5.01%. This is naturally boosted by a few companies, most notably Mandatum (25.5%) and Nordea (16.5%).

We live in uncertain times, but we’ll move forward with this portfolio. The management of the companies in the portfolio are now my chosen portfolio managers.

Have a nice weekend everyone!

[Farseer]

With a 233% investment rate and ALL-IN! for the weekend. A lower investment rate than at the turn of the year, just because it’s a bit higher + 20k more capital in the portfolio.

No huge changes as such. A significant increase in Duell’s position is probably the biggest single change by month-end.

So if someone asks for my view on the market (in Finland), my view is ALL-IN! There is, however, a bit of Sweden included now.

[Hatahousu1]

Faron approx. 84%
Cash approx. 16% I have to hold cash even though the FOMO is strong

This is the plan for now and it looks good, portfolio up 33% in 1 month, we are at ATH .
The customs issues didn’t ultimately stick, even though it dipped with the others and I managed to snap up 5000 more, I should have taken more at a lower price than now, but I didn’t dare.

The assumption, in light of current information, is that phase 2 results are good and should increase the stock’s value, or not, and now that there’s no pressure to raise money and the patents have been regained, potential partners cannot blackmail Faron by delaying, so presumably more intense negotiations with partners will begin, or not
My confidence is somehow too high right now, and I don’t see any weakness

UPM and Nokian Tyres are stocks I would like to see in my portfolio as long-term holdings in the future. Neste also perhaps, but the stock is now somehow in the hands of larger forces, so one doesn’t know what will happen next. These are therefore under observation.

Mandatum can be found in OP’s securities account.
Manta, oh wonderful Manta. One can’t help but wonder what returns it has already generated and dividends will continue to flow in the coming years.

[Kappelin_Pimu]

Name	Portfolio Share (%)	Change from Purchase
Evolution AB	28.05%	3.68%
QT Group	15.64%	38.04%
Harvia	12.27%	5.27%
iShares Core MSCI EM IMI ETF	6.76%	4.49%
Shell	5.66%	110.12%
Fortum	5.23%	12.91%
Nordea	5.18%	0.38%
iShares SP500 ETF	4.58%	−6.79%
iShares Nasdaq Ucits ETF	4.29%	54.94%
Golar LNG Limited	2.29%	32.35%
iShares MSCI World Small Cap ETF	1.93%	−21.12%
Apple	1.62%	164.57%
Cash	6.51%

This is a good diary-style thread to follow my own activity in the markets! The plan is progressing, and over the last year, I’ve cut down on extra companies in the portfolio. I don’t have enough time to follow so many companies, and currently, I feel quite satisfied with the number of holdings in the portfolio.

I can say that I’ve learned the hard way from Neste and Nokian Renkaat.

On the shopping list during market turmoil: EVO, QT, SP500 ETF, iShares Core MSCI EM IMI ETF.

New alternatives: Investor AB and some Europe-investing ETF index. The goal is to get the share of ETFs >20%.

Also for the OST (grandpa’s portfolio), the aim is to invest 20% of the capital in dividend payers (in which decade will OP manage to invest in foreign stocks with an OST?). Currently, the share of OST in the capital is 14.2%. Additionally, the goal is to reduce Finland’s share of the portfolio to 30% over the next five years (currently 38%).

I’ve been doing this for about five years now, and I recommend all other inexperienced investors to also write down their own investment plan in some file. It really calms the mind even when several months’ gross income melts away from the portfolio. Also, my own tendency to chase different stocks like a weather vane has calmed down.

Excerpts from my own investment strategy:

GOAL:
Retire earlier. Beat the OMXH GI (including dividends) index in the long term (+10 years) by 2%/year. The average return of the OMXH GI index over 20 years is 6.1%. In this case, the annual return requirement = 8.1%.

GENERAL THESES (copied from more experienced investors):

1. Understand what you are investing in (Smart Eye, Bloom, Kambi, NEL, TietoEVRY, Neste, Tyres)
2. Ensure that at least 80% of the portfolio’s capital is invested in assets that you want to hold for the long term (HODL) (+5 years): EVO, QT, Harvia, Nasdaq 100 ETF, S&P 500 ETF, CORE EM IMI Ucits ETF, Fortum, Nordea, Apple,
3. Let the profits run, cut the losses short: If -15% from the purchase price appears on the board, sell the stock.
4. Only invest money that you do not need for daily living.
5. Mr. Market is a servant, not a master. It offers opportunities for trading.
6. Don’t sell in a panic, be patient. (This was difficult this year, but so far I have succeeded!)
7. The company’s management is proven to be reliable (e.g., they are capable of openly communicating about mistakes, and not just babbling about “growth investments,” “one-off costs,” or “market softness”). A plus if they demonstrate their commitment with significant share purchases/holdings made with their own money. (EVO)
8. The speculation portfolio may hold a maximum of 5% of the capital (MBLY, GLNG, NESTE)
9. Margin of safety = Difference between price and value + Predictability of the company’s operations + Ability to manage debt.
10. Adapt the plan according to the world. If the future prospects of companies weaken radically → Make changes.

Forward!

[Beornegar]

Aren’t points 3 and 6 a bit contradictory?
Point 3 perhaps works better in day trading; in long-term investing, price fluctuations are part of the deal, and they shouldn’t sway one way or another.
Assuming one has chosen the right stocks for their portfolio, and the company’s performance relative to one’s own vision has not changed.
Let’s assume that Nordea is a great company in my opinion, I want it in my long-term dividend portfolio. An orange man tweets and the price drops, the company’s performance does not change. I sell at a 15% loss. I buy back at a higher price when the global situation stabilizes because the company is still great. In this case, only the broker won.

[Kappelin_Pimu]

Good point, and they certainly are, undeniably. To clarify, the idea here is to practice timing purchases by trying to buy at technical support levels (EMA 200, EMA 50). Preferably in a so-called golden cross situation.

Those long-term HODL stocks (EVO, QT, Harvia, Nordea, Apple) will remain in the portfolio until at least 2030, so the -15% rule does not apply to them. SP500, iShares Core EM IMI ETF, World Small Cap ETF are included with a ‘hold until death’ philosophy.

For example, EVO has dropped -40% in one year, but I haven’t sold it because I feel the fundamentals are still sound, meaning point 10. has not, in my opinion, been realized for it.

[Needles]

Pension Portfolio 18.4.2025

Investment Plan: A fixed sum is invested in funds monthly, approximately 15% of net salary. ETFs are bought to balance geographical diversification if there is extra money in the account. A lump sum has been allocated to stocks, which will not be increased. Additional purchases must be made with dividends and sales. After a purchase, one must wait about a month before the next purchase. In the long term, my portfolio will mainly consist of index funds and quality dividend-paying stocks. Stocks are primarily sought from Finland so that the largest possible portion of dividends can be received tax-free into a stock savings account.

Geographical Distribution
North America	49.7%
EU	35.6%
Emerging Markets	14.7%

Portfolio’s Largest Investments	Share of Portfolio
Handelsbanken USA Index Fund	29.5%
OP World Index	17.2%
Handelsbanken Europe Index Fund	11.7%

What goes up quickly can also come down quickly. Last year, the share of index funds rose from 66 percent to about 75 percent of the total portfolio in six months. Now we have returned to the situation of about 12 months ago. The reason for this is naturally the large weighting of the USA in a couple of global index funds and the EUNL-ETF found in the portfolio – in addition to a couple of USA index funds. Furthermore, emerging markets have started a pleasant decline since Trump pulled out the tariff board. I myself am expecting such stormy times for this year that I pulled out the cash reserved for special situations: the cash size in the portfolio has increased from 4.2% → 11.9%. If the shit really hits the fan, the intention would then be to buy more ETFs or perhaps even Berkshire Hathaway B shares. A small amount was already invested in global small-cap companies during the big dips of recent weeks.

I have also increased the amount of gold in my portfolio by buying a small slice of the IS0E-ETF. Just in case this trend continues – as I thought a couple of years ago.

On the stock portfolio side, the last six months have not been very commendable. The intention would be to build a dividend portfolio of quality domestic companies, perhaps mixing good dividend growers and large dividend payers. I have generally been very disciplined, trusted my own research, and tried to avoid buying companies whose business I don’t quite grasp. Well, all these principles went out the window when, in a weak moment, I impulsively bought Neste again at 13 euros – because it had previously seemed high-quality and had fallen so much. Now there’s another bright red line in the “long-term portfolio” in addition to Rinkulat – let’s try to learn from this. Regarding Detection Technology, I am not yet worried, and the China risk was known. My timing was downright magical (it slipped into the portfolio a month before the tariffs), but in the long run, I still see the company grinding out manna for the dividend portfolio with a good coefficient. The same applies to Viafin Service, which I swapped for Fortum during the tariff dip on 7.4.

My portfolio’s events for the past year are in full:

Newly Purchased: Neste (13 €), Detection Technology (14.5 €), Viafin Service (18.1 €)
Sold: Fortum (13.6 €)

There are several good Finnish companies on the watchlist, if Mr. Market were to come knocking again this year advertising Hesburger’s sales. Let’s still try to do our homework and follow Terry Smith’s simple advice, which is incredibly difficult to implement in practice.

Buy good companies, don’t overpay, and then do nothing

Listed Stocks	Share of Stock Portfolio
Orion Corporation B	8.8%
Nordea Bank Abp	8.0%
Nokian Tyres Plc	7.6%
TietoEVRY Corporation	6.3%
Tokmanni Group Oyj	6.2%
Orthex Plc	5.2%
Detection Technology Oyj	5.2%
Neste Corporation	5.1%
NoHo Partners Oyj	5.0%
Metso Oyj	4.7%
Viafin Service Oyj	4.7%
Valmet Corporation	4.5%
Kalmar Oyj B	4.4%
Marimekko Corporation	3.3%
Cash	21%

The dividend yield of the stock portfolio is currently about 5.0%. Happy Easter to the forum community!

[Timustaja]

My portfolio is highly concentrated and based on my own views. Over more than 20 years of investing, I have sought my own investment style, and in the last 5+ years, I have found the right one for myself - research, familiarize, and emphasize. The companies that pass my filter “easily” end up in the portfolio with a very large weighting. I have also used leverage for the past 3 years.

In addition to these listed investments, approximately 10% of the portfolio’s total capital is tied up in unlisted companies.

Verve: In my opinion, a ridiculously undervalued company that is unknown to most. Listed on First North in Sweden, the CEO is by far the largest owner and has continuously bought more shares over the years. It is constantly gaining market share from competitors, and the future looks good in terms of growth. It is expected to turn into a cash cow this year, as loans have already been restructured, interest rates are falling, and the business is growing.

Nexstim: A company with truly great potential, whose weighting I have already had to reduce by about 30% from my original ownership. I have strong faith in magnetic stimulation therapies and in Nexstim’s technology being the winning one in this game (e.g., Sinaptica collaboration). I missed the Revenio train back in the day, and I believe this will be Revenio 2.0.

Faron: By far the riskiest stock in the portfolio and with a fairly large weighting. Some shares were bought for the trading portfolio now that a large Hong Kong seller offloaded its ownership (over 3 million shares). Half of the long-term portfolio shares were bought at one euro. I have discussed this actively with my contacts, and they (cancer research experts) have strong faith in it. I admit that my own analysis has not played a strong role in Faron’s case, as it is not my core area of expertise.

Smart Eye: Has long had strong potential that has not materialized. Now, Design wins have also started to materialize into revenue, and the share price is very low compared to before.

Intrum: The debt collection company is undergoing a major transformation into a “capital light” company, where not all non-performing loans are bought onto its own balance sheet anymore. If the restructuring goes through (which I believe it will) and the company regains its profitability, a new flourishing period is ahead. Rubio as CEO has done everything he promised, and I have strong faith in him!

[Blackparta]

Here is the current portfolio in its entirety. It is known that there are many holdings, which goes against general guidelines. I will not add new holdings even if a new, more appealing target is found.

Sometimes I have had certain principles about where I wouldn’t invest, but after struggling in the investment field for a few years, I’ve had to abandon those principles. The goal, however, is to consistently generate profit while keeping risks under control.

Currently, out of 48 stocks, 33 are in profit and 15 are in loss. Sales losses/gains from past years have also been taken into account. For example, Neste is well in profit after the new company, but due to its history, it is in the loss column. Dividends have also been considered in the calculation, with dividend tax accounted for as an expense.

The portfolio’s P/B is 1.26, where the B-component is calculated using the number of shares at the last financial statement and the current equity. The current share price is used for the P-value. The exchange rates of the dollar, Swedish krona, and Brazilian real against the euro have been taken into account. Therefore, without the recent decline in the dollar, the figure would be lower. For a few cases, half-year report data has had to be used. Efforts have also been made to account for the company’s own shares, different share classes, hybrid bonds, and non-controlling interests in the calculation. The possibility of error exists, but it should be highly accurate.

[Sukulaku]

There are great listings and informative breakdowns of people’s portfolios here! I could try to make a similar one - especially since I’ve managed to advance the portfolio to be more in line with the “strategy”.

Roughly, I have stocks - funds 60-40%, and I continuously save into funds, but I put extra money into an OST, and for Nordnet’s AOT, I buy small batches of US stocks on Black Fridays. Let’s see if I even bother to highlight funds and small slices of US stocks in the portfolio.

Currently in the main portfolio on OST:
Scanfil
Lapwall
Noho Partners
Capman
Gofore
UPM
Neste
QT
Sampo
Cibus (Sweden)
Nilörngruppen (Sweden)
Evolution (Sweden)
Novo Nordisk (Denmark)

I’m happy that I’ve managed to trim some of the excess. The number of foreign holdings is too high, especially Cibus, which pays a lot of dividends, so I aim to divest it from the OST at some point.

[Seuraaja1]

A couple of years since the last update. In good times, offshoots and peculiar plays emerge, and then in turbulence, the portfolio looks as it should. Right now, it looks good to my eye. Mandatum has been heavily leveraged towards a record dividend; with its base weighting, it then settles into 2nd place.

[antti314]

Here is a pie chart of my actual stock portfolio (at today’s prices):

In the long run, the goal is to streamline the portfolio so that the smallest positions are not quite so small. I started investing in direct stocks late last year (except for PDX, which I bought semi-seriously soon after its IPO, and Nordea shares, some of which I received as a gift as a child).

In addition to these, at least ten other securities have easily appeared in the portfolio during the last 6 months, but we are in profit.

However, this picture is not the whole truth. The stock portfolio has been built mostly with money I obtained by selling bank funds, into which I had previously saved monthly for over 10 years. In addition, I have ETFs, into which I started investing more regularly over a year ago (however, into a DAX-ETF for almost 10 years already), as well as various Nordnet and Seligson fund holdings from the past 10-20 years. The whole truth in all its stark reality looks like this (something might still be missing from this too):

Regarding these bank funds, I’m a bit trapped; I don’t want to sell more because I don’t want to unnecessarily pay tax on the profits, but the returns aren’t optimal due to the fees. However, due to tax implications, a vastly better place should be found for the money. DB’s ESG equity fund has, however, invested in sensible securities (MSFT, Amazon, Adyen, Mercado Libre etc.), and I have happily kept my hands off those same stocks in terms of direct investments that I already own through the funds. So even though my actively managed portfolio is Finland-weighted, my entire investment wealth is truly diversified.

I don’t quite remember why I started monthly saving specifically into the DAX-ETF and Spiltan’s Investmentbolag fund back then. I opened an account with Nordnet specifically to buy Paradox, and although Paradox’s return has been quite modest in absolute terms, opening the Nordnet account and monthly saving into these two has, however, been profitable.

[Ellu1]

With a portfolio like this to face the disappointments brought by Trump.
I have tried to increase cash by selling off Mandatum last week, as I no longer believed I would get a greater return from them even though the dividend was good, Rheinmetall, bought at the beginning of the year, for the same reason, and today I lightened my position in Renk as it had risen 30% in the portfolio. I don’t know if it was a bad decision, as it’s rising immensely, but I’m trying to learn to realize profits more appropriately, and I see great hype in the defense industry, along with risks in stock price fluctuations.
However, I believe defense industry stocks will be “winners” in the next 10 years, so I’m looking for other European companies in the sector when buying opportunities arise.
I managed to sell all USA-weighted funds early in the year before larger declines, but the purchase of Investor was poorly timed just before tariff decisions. It’s going to be a long-term hold, so it doesn’t matter how poorly it was timed.

I bought Fortum during the discounts from Russia’s war of aggression and have enjoyed a good dividend, and I believe the dividend will continue to be at least reasonable.
I bought Tieto at the same time and also enjoyed dividends from it, but the stock price has taken a severe hit.
I added to it a few times but it’s still heavily in the red (-26%).
Nvidia and Berkshire are new in the portfolio, which I picked when their prices were “attractive”. Nvidia is perhaps more of a lottery ticket, but Berkshire is for a longer hold.
I bought Outokumpu after Germany’s announcement of a new defense package, hoping that infrastructure would be invested in. It’s a small position, so we’ll see how the conclusions play out.
Everyone can probably guess what happened to the last two stocks…

Next, I’m trying to find buying opportunities in the biggest US tech giants. Most likely Microsoft.
And I’m also interested in oil companies, which could be “winners” as a result of a potential larger conflict, although who can even be a winner in such a situation.

I have about five years of investment “career” behind me, so there’s still plenty to learn. After the first couple of years, I swore I’d switch to indexes, but the last couple of years have gone very well, so I’ll just let it roll.
I thought about investing my student loan in the S&P 500, but Trump’s policies make me wonder if it’s worth it…

[xlat]

Harvia’s strong daily rise increased its weight somewhat (and at the same time decreased the weight of cash, even though the amount of cash did not change). I sold Vaisala, and the portfolio is still very concentrated. In the future, the intention is to clearly improve diversification from this point.

[Kaapo1]

The portfolio went through a small change during Nordnet’s crazy days when orders could be placed for a couple of euros per piece on the Helsinki Stock Exchange.

eQ and UPM left the portfolio, and Sampo, Manta, Evli, Puuilo, and Nordea received small additions. The intention is to slightly reduce the number of stocks in the portfolio, and there has already been a change from 15 to 11. At some point, I think I will divest from Texas Instruments, and after that, I will focus on adding to current holdings.

[Osinkobodari]

The portfolio has undergone some changes again. The portfolio is still six-figure. Dividends are also pouring in, which is good.

Sampo 16.4%
Elisa 12.5%
Siili 10.3%
Talenom 7.9%
Enento 7.1%
Pepsico 5.8%
Huhtamäki 5.6%
Tieto 5.5%
Fortum 5.4%
Revenio 5.0%
Mandatum 4.9%
Orion 4.4%
Nike 4.2%
Nokian Tyres 3.9%

Removed from the portfolio: Detection, UPM, QT. Talenom has been added as a new one.

[kesseli]

This kind of cheeky student portfolio, cash now almost 0%. However, on Monday, I’m starting summer work for the whole summer, from which almost everything is intended to be put into the portfolio. Alibaba and Harvia are on my mind as additions. In the autumn, also the maximum student loan, of course, into the portfolio.

[Torniojaws]

There’s been a little life again with Trump’s surprises (too). The biggest difference is the removal of Runway Growth and Arbor Realty from the portfolio, in exchange for different alternatives in the form of Capital Southwest and EPR Properties. Of course, both were a relatively small percentage of the portfolio, so no huge change in the big picture. The diamond is constantly being polished

	Stock	Distribution		Comments
	PennantPark Investment	14.97 %		Steady, reliable monthly dividends for a long time
	FS KKR Capital	13.86 %		Still the portfolio’s highest absolute sum of dividend yields, quarterly dividends
	Fortum	12.80 %		The electricity hedge has paid off. Amusingly, among all the US stocks, Fortum has generated the most money :o
	Hercules Capital	12.46 %		Muscles shine and money rolls in every quarter at a fast pace
	Realty Income	9.82 %		Boring is good, and there’s a lot of good here every month!
	CION Investment	7.83 %		At one point even among the largest in the portfolio, but purchases have been slightly slowed down so that the risk doesn’t grow too much
	Neonode	6.93 %		The legal case against Samsung is brewing nicely and the news is still good. Waiting for October!
	Altria Group	6.43 %		ESG pays off, no just kidding. Everyone has their vices, but for me, it rains quarterly
	Ares Capital	5.44 %		Very reliable returns, waiting for future planned additional purchases to reach the target distribution. Quarterly dividends
	EPR Properties	3.68 %		Newcomer from the resort side. Highly praised and at least the start has been good. Monthly dividends from ski slopes uh, I mean real ones
	Capital Southwest	3.50 %		Another new opening a bit in advance, also a strong start right away. Quarterly dividends.
	Mandatum	2.27 %		A bit like diversification, but I’m still thinking a bit about how to play it

	Fund	Distribution	Comments
	Handelsbanken USA Index	100.00 %	A few indexes included, as a Mag7 substitute, but the start has been sluggish with a -4% return so far

Coloring by industry as determined by AI BDCs in dark blue, REITs yellow, energy green (of course ), tech purple ( ), consumers red (uhh ), and insurance brown ()

[Tuokki]

Thanks for the good and clear portfolio breakdown. How do you acquire those BDCs etc., as many are in the “closed end fund” category in at least Nordnet and Mandatum services?

[Torniojaws]

Most of them are from the time before Nordnet’s solo act regarding those, so they are in Nordnet. They did not demand selling them off(*), but only additional purchases have been blocked. I make current additions in OP.

(*) - which is, in my opinion, a strong indication that it’s not actually a requirement, but Nordnet just wants to save on its costs, which arranging a KID (key information document) per instrument would require. With other brokers, this has not been a problem, and BDCs can be bought like any other normal shares.