30 more shares of Nordea for my buyback equity savings account (OST), total holding is now 0.98 thousand shares. The trade was executed at a price of €16.475/share.
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A new line for the “grandpa portfolio”, i.e., the equity savings account (OST), using holiday pay: Kesko B at a price of 19.45.
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I’ve been buying more NoHo on different days, including a little bit just now.
If the Iran situation is settled, Ukraine seems to have the upper hand, and the summer has apparently been quite good for restaurants etc., then Q2 could turn out quite well. If all the pressures are easing, then perhaps the rest of the year could be decent as well.
I also bought batches of Valmet on Friday and today. The first batch at 21.8x and the second about 5% more expensive, in the 22.8x range.
Valmet has been a regular target to buy around those levels and then sell off higher at some point. I hope that succeeds this time too, within some timeframe. There have been some additions since April.
I’ve been buying micro-batches of UWMC at 10% intervals… it might benefit from a possible Iran deal, as inflation and interest rates are poison for it, and the position is currently almost -50%… we were at 7 dollars a while ago and now it’s 2.39.. So I was heavily in the green at the beginning of the year and now correspondingly at a loss… which has also dragged my entire portfolio into the red.
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50 shares of KESKO A for the equity savings account. I also had an order in for HIAB, but it looks like it won’t be filled.
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My holiday bonuses barely had time to burn a hole in my account this morning before I used them to add to my Berkshire position. The bulk of my salary went boldly into OP’s “money market fund” to wait for worse times ahead.
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Putting some of my holiday pay to work (hopefully) here as well.
A fairly large lump sum by my standards. About 500€ sent off.
50 + 50€ into Europe and Asia indices.
100 more into Kempo
100 more into Nordea
200 more into Abloy
Some loose change into Fodelia.
Almost 4 years behind me in this game. I’ve always put slices of my holiday pay and tax refunds in, on top of the usual small-scale trading.
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A small trim into the gains: trimmed 250 shares of Nokian Tyres @ 12.17 (1,500 shares remaining).
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I’ve had some extra cash lying around for a while now, but I’ve been poor at pulling the trigger even though there have been opportunities available (e.g., Valmet last week).
However, I’ve now jumped on the Kesko “summer sale,” adding 50 shares @€19.27 to my portfolio. It’s one of the cornerstones of the portfolio and grinds out a steady dividend.
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Kesko’s acquisition of Dahl is a big risk, but also an opportunity. Since a Finnish company actually has the courage to pursue growth, I’m willing to put my own money on the line. So, my monthly stock purchase was Kesko.
Otherwise, tomorrow the usual subscriptions will go into the index funds HB USA, Nordnet Emerging Markets, Nordnet’s Nordic index funds, and as a new addition, Nordnet Germany instead of the HB Europe index. The plan is to build a European allocation out of the HB Europe index and Nordnet Germany, in the same way I have constructed one from Nordnet’s Nordic funds.
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Subscription:
- Participated in the Savox offering.
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Sold another small portion of Nokian Tyres and used the funds to buy more “peas,” aka Apetit. Apetit products have started appearing here in Sweden; at least ICA and Coop have given them shelf space.
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I went through the Savox planning an IPO thread again and decided to participate in the Savox IPO. 
I don’t have any long-term plans regarding this. Nor do I have any particularly unusual or deeper thoughts about it.
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A couple of moves:
- Sell: Kemira @ €16.8. The profit warning (negari) confirmed what I had been considering earlier: the portfolio’s expected return can be improved, even though the company is still good. I’ll jump back on board if the attractive water business becomes cheaper at some point.
And the move to increase the expected return is?
- Buy: SigmaRoc @ 1.19 GBP. A strong candidate for the title of the most boring company in the portfolio. The company operates limestone quarries across Europe, selling mainly lime and aggregate locally, and delivers incredibly steady profitability and cash flow. Typical for quarrying companies, the firm enjoys one of the strongest competitive advantages imaginable: physical location. Quarries cannot be moved, reserves cannot be created out of thin air, and competitors cannot transport the end products of their own quarries from very far into SigmaRoc’s territory, as transportation costs quickly become prohibitive. The industry is thus full of “regional monopolies” that have pricing power over customers who need lime and limestone.
A 10% FCF yield based on this year’s forecasts doesn’t quite meet my return target, but my understanding is that quarrying companies have always been very reliable steady-growth companies (the firm guides for 3-5% annual revenue growth), which is why I’m flexible on my earnings yield requirement. The company has been active in making bolt-on acquisitions and also some buybacks, so I see potential here for a “forever” position.
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A really poor track record of changing horses, so I’m already feeling apprehensive.
Sold Tyres from my wife’s equity savings account (OST) at 12.24 and added Kesko with the full amount.
A 52% profit on the “hoops” (rings) - they didn’t end up spinning their wheels after all.
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Nokian Tyres sold from the short-term portfolio at a cost basis of @ €12.34. It’s been a pretty nice rally over the last few months, and the last two trading days added about 10% in value.
Oil prices have certainly been one driver. Personally, I’m a pessimist regarding the situation in the Middle East, as well as the stock market as a whole. That’s why I made this move.
Edit: Oh boy, that was poor timing in the short run. It’s really ripping, and the momentum has even accelerated today (the following day).. Hmm.. I wonder what’s behind this.. 
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I’m joining the club; sold the rest of my Nokian Tyres @ 12.27.
Continuing to increase the cash weight of my portfolio.
A peace in the Persian Gulf, which is “more likely than before,” is pushing prices up well, but for how long will this theme continue?
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Reductions in Sampo, Nokian Tyres, Huhtamäki, and Novo Nordisk, replaced mainly with XACT Norden ETF and a bit of Berkshire (B-series).
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In the morning, the dumb money started moving and I added 100 shares of KESKO.
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Sold Adobe. I spent the weekend thinking about the situation and couldn’t get over the simultaneous departure of both the CEO and the CFO. I assume they know more than they are letting on and are moving elsewhere while the going is still good. Took a small loss, but nothing serious.
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