Nordea has bounced back a little bit so I decided to sell all my 162 Nordea shares held in the secondary portfolio for 8,81 EUR per share. Quick trades in and out don’t typically pay off but that’s what this secondary portfolio is currently for. I was originally looking to replace these with Telia shares but Telia also bounced back already. XXL ASA is also looking very interesting for a quick trade. Let’s see how both will move in the coming days.
Maintenance purchase for the secondary portfolio in the form of 8 Loudspring shares bought for 1,336 EUR per share. Tiny transaction but acceptable in the secondary portfolio as the fees are so low with Nordea.
This is a purchase I have mixed feelings with. H&M was similar and so far it hasn’t served me too well but let’s see what the future brings. Europris ASA appeared too cheap to pass and I had the currency (NOK) already available from the Gjensidige exit, therefore I bought 1500 shares for 21,50 NOK per share. With this cost basis I can expect above 8 per cent yield which appears to be very high but also sustainable. I still haven’t made up my mind if this is a long term dividend investment or short/mid term capital appreciation play. This increases my debt level but not too much leaving me with multiple options going forward. I most likely will sell my stake on BHP Billiton at some point (due to the cyclical nature of it) for which I could currently offset the taxes by selling my not-so-succesfull stake in H&M. That would lower the debt level significantly but I can also manage the debt component with new capital.
Second quarter is over without any major new developments but ongoing issues are plenty to handle – trade war debate is going strong, European Union has plenty of political problems stemming from immigration issues and North Korea is still looming in the background. Given these issues the quarter was quite stable for both of my portfolios: roughly 6% capital gains in value (compared to previous quarter) and 1 824,24 EUR in pre-tax dividends.
- Gjensidige Forsikring (220 shares)
- Citycon (1200 shares)
- Diageo (20 shares)
- AT&T (40 shares)
- Sampo (50 shares)
- VEREIT (200 shares)
- Johnson & Johnson (13 shares)
- Lockheed Martin (4 shares)
- 3M (20 shares)
- Philip Morris International (25 shares)
- Nordea Bank (90 shares)
- Loudspring (200 shares)
Oops, I did it again as I bought additional 60 shares of Nordea Bank for 8,12 EUR per share for my secondary portfolio. Nordea announced today that they are buying a Norwegian online bank from Gjensidige Forsikring ASA, a company I still recently had position on, for €578 millions paid in cash. Interesting developments in general – Sampo being a major owner of Nordea and Gjensidige being a competitor of Sampo. I suppose we will see plenty of M&A activity in insurance & banking sectors in the coming years.