Investments

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.

First deployment of the funds received from recently sold Fortum position and it was XACT Nordic High Dividend Low Volatility (UCITS ETF). I bought additional 60 shares for 155,24 SEK per share so hardly significant move but more will follow. Most if not all of said funds will likely be deployed in XACT Nordic High Dividend Low Volatility (UCITS ETF), Franklin European Quality Dividend UCITS ETF and in one high yielding stock for which primary candidate right now is Petrobras. Unless Fortum drops quickly back to 16 EUR range that is but in any case I will rebuild my Fortum position if the price is right and will fund it from cash reserves if needed.

Fortum reported weak third quarter results and as short term safety measure I sold all 1000 shares for 17,40 EUR per share. Initial drop of roughly 3% was not too bad but I have a feeling that there might be more to come. Share price has gone up lately without any real fundamentals backing it up. Sure, energy is key to the (AI) economy of the future and this drop in results was because of lower production levels but still. I’ll sit out for a while but might buy these back for 16,00 EUR per share or somewhere around there. It remains to be seen if we see such prices any time soon since winter is coming. From this I record profit of 4823 EUR + 3248,70 EUR in dividends (before taxes) received during whole ownership in Fortum.

See: https://www.fortum.com/sites/default/files/investor-documents/Fortum_January-September2025_Interim_report.pdf

This was bit of an unplanned purchase but I bought additional 20 shares of IREN Limited for 54,90 USD per share. IREN has pulled back since the convertible notes offering and has shown the usual volatility while doing so. It remains to be seen how wild swings we will get but my main thesis remains: AI boom will keep on booming at least for a couple of years and IREN is exceptionally well positioned for it. Last week has been calm before storm and big news are inevitable sooner or later. Having said that, stop loss is in place for the whole position in case this seems to sink significantly lower in the short term.

After mediocre consideration I bought my final chunk of Terveystalo Plc or at least I consider it to be last for now. I bought additional 100 shares for 9,75 EUR per share which makes the total position 500 shares. Thesis seems to be intact: share price has been dropping due to Varma (mutual pension insurance) selling but there is a good chance for dividend increases and share price might be supported by reclassification as large cap company which likely increases foreign interest and so on. I do consider the position to be full but switching from Lassila & Tikanoja to Terveystalo feels tempting mainly because of the fact that L&T position is a bit small due to the fact that I expected it go up slower than it actually did. Now I am left with expected and decent 15% gains but only half position. This together with the planned split into two listed positions would leave me with two even smaller positions while the other one is likely to see somewhat significant sell side pressure due to the fact that most environmentalists having focus on circular economy and such likely do not plan to keep the boring old facility services business.

Planned re-investment of remaining cash from recent Lockheed Martin sale, received dividends and trades with Iris Energy. I bought additional 120 shares of XACT Nordic High Dividend Low Volatility UCITS ETF for 151,24 SEK per share. This together with initial placeholder position of 40 shares forms the actual entry position in this ETF. I expected to add on this position consistently over time and consider this as a proxy especially for Danish and Norwegian high yielders. As a bonus this increases my diversification in general and exposure to more passive investment vehicles.

Older stop loss kicked in and executed a sale of 10 Lockheed Martin shares for 449,3529 USD per share. These were the extra 10 shares I bought for 424,34 USD per share back in March when I traded out the original position of 30 shares due to the turmoil caused by Trump’s administration. Seems decent but with currency impact this was pretty much break even. I deployed most of this money and bought additional 100 shares of Franklin European Quality Dividend ETF for 32,44 EUR per share. This was mostly risk adjustment and move to increase non-US exposure via better diversified position. Rest of the money will be deployed later this month along with dividends received during the month.

I’m starting to repeat myself but I bought additional 100 shares of Terveystalo Oyj for 10,60 EUR per share with the very same thesis: dividend increases for next few years seem inevitable, stock might be reclassified and foreign ownership will likely keep on increasing. Considering all this I expect to get decent yield together with some share price appreciation. I might still buy additional 100 shares but then I would consider the position full no matter what happens.