Investments

Maintenance purchase for secondary portfolio at Nordea as they had the monthly campaign day with reduced fees. I bought additional 20 shares of Kemira for 13.20 EUR per share. Slow and steady nibbling until valuation is low enough to buy bigger chunks.

End of the year cleanups are here. I sold the small GEO Group position of 160 shares for 7.15 USD per share. Elimination of REIT status and dividend plus the overall extremely poor performance lead to this decision. Sure, one could consider the stock to be undervalued in long term but it does not pass the criteria to be included in my speculative portfolio. I rule this as a miss, take the loss and move on. Decision I should have done a long time ago. I might reinvest the money in Omega Healthcare REIT which is also a high yield and elevated risk position.

Realty Income completed the acquisition of VEREIT and subsequent spin-off of office properties as independent REIT. As result I received 28 shares of the new Orion Office REIT. Since Nordnet had special pricing for thanksgiving, I bought additional 22 shares for 18.04 USD per share in order to have total amount of round 50 shares. This is still a small position but as such reasonable initial position size and allowed me to invest existing dollars from dividends without fees.

Lockheed Martin reported third quarter results and stock declined about 10 percent. Guidance was soft and all that but long term thesis is still there at least for me. Conflicts will never go out of fashion and space will be a key sector in the long term. Therefore I added 5 shares for 336,90 USD per share. Personally I consider current valuation as decent given the overall market and political environment. Not exceptionally cheap but decent. This does not really reduce my cash position but acts as a monthly maintenance purchase for dividend portfolio.

https://www.thestreet.com/investing/earnings/lockheed-martin-posts-third-quarter-sales-miss-on-f-35-revenue-drop

Groundhog day – Investor’s Edition. Bought additional 10 shares of Kemira for 13,34 EUR per share as a maintenance purchase. These euros were essentially coming from CapMan’s freshly paid dividend (second part). Still nibbling away until price is more favourable. Kemira is quite solid and boring company with partial focus on water sector which I’ve tried to find entry into for quite some time now.

Mandatory maintenance purchase for the secondary portfolio. I’m not a huge fan of Kemira‘s current valuation but started to nibble on it anyway. Just a tiny purchase of 10 shares bought for 14,26 EUR per share. I’ll probably keep in nibbling on it with such tiny pieces until valuation is more favourable. Company itself is quite solid and boring so in that sense there’s not much to complain. Never managed to pull the trigger when it was trading our 10 EUR per share.

It has been really hard finding anything to buy. In an attempt to increase my pharma exposure I bought an entry position in AbbVie Inc. in the from of 20 shares bought for 107,99 USD per share. Let’s consider this as a maintenance purchase while waiting for better market conditions. Good enough company in good enough position with good enough valuation. Good enough in these markets.

Fine. Couldn’t really find anything to buy but had eye on Pfizer for few months so I bought 50 shares for 38.50 USD per share. Previous exit wasn’t exactly a good move if possible problems with spin off taxation are excluded. Solid company and solid operating environment with the ever ongoing COVID-19 situation, increased vaccine production capacity and all the other product lines. I’ll probably add on this gradually and also look into entering Abbvie position as well since this is a sector I’d like to increase my exposure in.

Same old story. Couldn’t find anything to buy so made another maintenance purchase and bought additional 100 shares of Capman for 2.68 EUR per share to avoid Nordea’s maintenance fee. I’ve been eying Pfizer to restore my existing position which I dropped during the spin off operation they had. That’s was mainly done due to lack of understanding the details of the spin off at the time and to avoid problematic tax reporting which usually comes with such spin offs.

Yet another boring maintenance purchase with 54 shares bought for 2,72 EUR per share. Nothing special here but sector in general is starting to show some signs of increasing M&A activity. My thesis is intact and I expect CapMan to be a part of M&A move soon enough. Working thesis contains timeframe of two years.