Investments

This was a bit unplanned but Sampo dropped today about 5% without any obvious triggers. Or at least I’m not aware of any triggers but seems very odd move for a stock like Sampo. Who knows, maybe it’s the Lemonade & Tesla FSD effect or more like the effect of such concept going forward seen as quickly escalating risk for legacy incurers. It’s by no means a cheap stock even after this drop but I decided to buy additional 100 shares for 9,34 EUR per share.

See: https://www.reuters.com/business/autos-transportation/lemonade-halve-tesla-insurance-rates-miles-driven-with-software-assistant-2026-01-21/

This might end up being relatively stupid move but I sold my 30 shares of Lockeed Martin for 578,00 USD per share with roughly +26% profits + dividends. This was mainly motivated by the current state of US government: while they are very likely investing heavily in defence, they are also talking about stricter control for defence companies. Further more tensions with Europe are very high due to the insane Greenland issue they claim to be having. It’s very likely that European countries, and likeminded countries elsewhere, will opt out from US weapons systems as much as possible. These tensions will probably go up and down as long as Agent Orange is playing his game, therefore it’s probably quite likely that Lockheed Martin will evantually go down in price even significantly. At that time I might consider byuing these shares back but that is not guaranteed, so messed up is the whole trans atlantic situation.

For now as a strategic move I deployed this money in European positions to substitute the lost dividend income. I bought 300 shares of Franklin European Quality Dividend UCITS ETF for 33,601 EUR per share and 300 shares of XACT Nordic High Dividend Low Volatility ETF for 160,92 SEK per share. Probably a bit high valuation considering the fact that we just had a relief rally after Trump’s latest TACO move after Davos but it is what it is. Slight reduction in US and especilly USD exposure is the key here.

See: https://edition.cnn.com/2026/01/22/business/europe-trade-bazooka-trump-china-intl

Gotta follow the plan if you have one. Therefore I reinvested dividends and bough additional 10 shares of iShares NASDAQ 100 UCITS ETF for 14,75 EUR per share (December 19th 2025) and additional 50 shares of XACT Nordic High Dividend Low Volatility ETF for 160,54 SEK per share. Nothing special here as these together with Franklin European Quality Dividend UCITS ETF will be the vehicles for monthly grinding this year. NASDAQ 100 will cover long term growth with minimal purchases and with currency hedging while to other two funded mainly by USD dividends will slowly reduce my dollar heavy allocation and produce steady income instead of growth. Otherwise activities for the year are still open. If US market ends up in a huge bubble as I suspect it very well might, I’ll actually consider exisiting most if not all direct stock positions. Temporary exit and repositioning to mainly ETFs is a solid option and one that I’m willing to entertain if we see insane bubble.

I recently exited Fortum at 17,40 EUR per share and planned to buy those shares back at around 16 EUR if we get there. Fortum dropped today after updating financial targets so I decided to make the initial purchase: I bought mere 50 shares for 17,00 EUR per share. This sets the upper limit of my buy back range and hopefully rest will be bought back in a way that results having an average cost of low sixteen EUR per share.

See: https://www.inderes.fi/releases/fortum-updates-its-long-term-financial-targets-strategic-targets-and-strategic-kpis

Once more for the sake of consistency: I bought additional 100 shares of XACT Nordic High Dividend Low Volatility (UCITS ETF) for 154,16 SEK per share. Nothing new here as this is future core position in the making. Pure income play with a somewhat defensive approach. Decent mechanism to get exposure to norwegian and danish high yielders without having to adjust taxes afterwards.

This was a bit unplanned but since Nordea dropped significantly after releasing updated financial targets I decided to make move despite already having heavy allocation. To me those targets seemed excellent and should those targets be met by 2030, we should be handsomly rewarded. Targets also included transitioning into semi annual dividends. I approve such move and should the targets be met, we might see annualized dividends of 1.40 EUR per share in roaring 30’s. I missed the initial drop while travelling but since recovery was sluggish, I bought additional 100 shares for 14.375 EUR per share.

While at it I also bought additional 100 shares of XACT Nordic High Dividend Low Volatility (UCITS ETF) for 154,87 SEK per share. This was planned deployment of the funds received from sold Fortum position. There are still some left but these will likely be deployed later this month together with incoming dividends.

This is just a continuation of previous purchases. This time around I bought additional 180 shares of XACT Nordic High Dividend Low Volatility (UCITS ETF) for 155,38 SEK per share. Probably one or two purchases still to go for short term. Strategic semi safe income play with exposure to nordic high yielders, that’s about it.

Third transaction of the day and a bit unusual one for many reasons. I bought an entry position in Petrobras via preferred ADR stock or 300 shares for 11,15 USD per share to be precise. This is a pure high yield income play with few twists: political risk obviously, plain old tax reforms in Brazil and local taxation. Due to all that this will not likely grow into a significant position but that remains to be seen. Sector is not really in fashion but probably needed for couple of decades and might even be occasionally appreciated.

As described in previous post, part of the funds originating from exiting position in Fortum are redirected into Franklin European Quality Dividend UCITS ETF. I bought additional 200 shares for 32,46 EUR per share. I used this opportunity to move funds to my account in Nordnet which I have not done in ages. I have just been reinvesting dividends and performed few short term swing trades on limit. This enabled me to become a private banking member mainly for a bit lower fees going forward. Fees are by no means low compared to other brokers but at least now a bit more acceptable.