Investments

Maintenance purchase time once again with Lassila & Tikanoja as I bought additional 20 shares for 9,29 EUR per share. Building up defences slowly as total share count now stands at 250 shares. Plan is to build this up to 400-500 shares by the end of the year but impact and timing of split into two listed companies might have a say on that.

After lengthy consideration I decided to buy back my original 100 Bristol-Myers Squibb shares plus additional hundred shares for 47,99 USD per share. Sure, tariff hassle will likely cause all kinds of short term issues depending on the daily swings by Agent Orange. Company should be in good enough shape and position to navigate this turmoil well enough, hence to purchace and willigness to ignore reasonable short term fluctuations. However, I’ll keep monitoring the changes and adjust stop loss triggers as seen fit.

Sampo paid dividends today and made a boring choice by slowly building up my position on Lassila & Tikanoja Oyj. Bought additional 70 shares for 9,32 EUR per share. Didn’t redeploy all dividens paid by Sampo just yet as Trump is once again floating the concept of pharma tariffs within the next two weeks or so which I might use as an opportunity to buy back Bristol-Myers Squibb shares I sold recently and then some on top of it.

See: https://www.cnbc.com/2025/05/05/trump-order-us-drug-manufacturing.html

Bought back recently sold Pfizer shares and then some. Tariff saga continues but there are at least minor hints of reversal in some areas. We haven’t seen any pharma specific insanities on top of the normal ones. Considering all this – and the fact that Pfizer reported somewhat decent results today – I decided to buy 400 shares for 22,70 USD per share. This doubles my original position but risks are still there: Trump might trump any trade and long term positioning of Pfizer has plenty of risks. Let’s see how this eventually plays out.

See: https://www.businesswire.com/news/home/20250429774693/en/Pfizer-Reports-Solid-First-Quarter-2025-Results-And-Reaffirms-2025-Guidance

Another small maintenance purchase of 40 Lassila & Tikanoja shares at 8,66 EUR per share. Nothing new here as I’m slowly nibbling on L&T due to the defensive nature of the sector it operates on combined with potential bottoming out. They are planning on separating into two independent listed companies. That in itself is a risk but likely causes short term moves on the share price around the time of separation especially if resulting share prices force funds etc. to dump shares. It could provide better entry point but let’s see how it goes. Most likely I’ll just keep on adding in small chunks until then.

Today I exited my positions on Bristol-Myers Squibb, Medtronic and Pfizer. This was probably just a short term move brought to you by Agent Orange. I record some losses with all of these but significant (in tax sense) only with Pfizer. That shall offset some of recorded gains earlier this year from the sale of Apple Hospitality and EPR Properties. More relevant aspect is short term breather from the proposed pharma tariffs as none of these positions had any margin of safety from additional tariff impacts. Such tariffs sound unbelievably stupid but that’s the main reason for taking this seriously. Then again curve ball with calling of potential tariffs is equally likely outcome and something that likely would cause these stocks to trade significanly higher in the short term. Let’see what’s the situation a week from now as Easter weekend is coming up and perhaps Trump has way too much time for social media.

Summary of sales:

• Bristol-Myers Squibb: 100 shares for 47,95 USD per share
• Medtronic: 40 shares for 82,90 USD per share
• Prizer: 200 shares for 22,38 USD per share

See: https://www.reuters.com/business/healthcare-pharmaceuticals/trump-says-us-pharma-tariffs-coming-not-too-distant-future-2025-04-14/

Tariff madness move time as I sold my initial General Mills position of 20 shares for 56,27 USD per share. Reason being twofold: this was tiny initial position which I really don’t feel comfortable increasing anytime soon and this was pretty much tax neutral way to increase cash reserves. Cash will likely be redeployed quite soon but either to non USD positions or possibly hedged USD positions. Might make similar moves with Medtronic (hasn’t really moved) and Pfizer (some losses to offset taxes).

Well… I said I would round up my Nordea Bank position to even 3000 shares so I suppose I shouldn’t be surprised by this. Tariff insanities are kicking in and I’m probably way too early mover but I bought additional 300 shares in 10,99-11,00 EUR range. Now let’s just see how low we eventually go with this and with the whole market. Probably waiting couple months or election terms would have been better option but it is what it is. I’ll consider these as an early dividend reinvestment of incoming dividends from the likes of Sampo and Mandatum.

Early reinvestment of Fortum’s dividends (trades ex dividend today) with a purchase of additional 100 shares of Nordea Bank for 11,65 EUR per share. Nothing special here since I’ll likely round up my Nordea position into 3000 shares during the spring/summer. Seems reasonably priced, they are actively buying back shares and prone to benefit from the potential reneissance of Europe incl. potentially elevated interest rates.

Dividend (or more like paid interest) reinvestment time with Lassila & Tikanoja Oyj. Stock has been going down after ex dividend date so I’ll continue bying in small blocks. This time small block equalled 20 shares bought for 8,35 EUR per share. Same thesis as before: potential bottoming, defensive sector and potential for turnaround in valuation AND operative execution.