Planned maintenance purchase since Q2 reports caused minor corrections for both Fortum and Sampo. I’m increasing my position in Sampo mainly because I might eventually trim or even eliminate my position in Nordea due to tax reasons. Sampo allows me maintain some of the exposure in that case and in general is exceptionally well managed company. Fortum is in a position to benefit from major trends but has way too much political risk. I most likely will not increase my position on it unless there are significant changes in valuation and/or market situation. In addition to these purchases I trimmed the portfolio debt a little bit and current D/E ratio stands at 0,135 target being 0,1 or less.
- Fortum Corporation 14 shares for 13,98 EUR per share
- Sampo Plc 4 shares for 45,89 EUR per share