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.
Month: October 2025
Recent Buy: Franklin European Quality Dividend UCITS ETF
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.
Recent Buy: XACT Nordic High Dividend Low Volatility (UCITS ETF)
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.
Recent Sell: Fortum Oyj
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.
Recent Buy: IREN Limited
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.
Recent Buy: Terveystalo Plc
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.
Q3/2025 Results
Another quarter has passed and as always it was a wild one. Trump’s tariff game is still on and in Ukraine war is still raging on. However, Ukraine is starting to look stronger as the winter approaches. Even Trump has hinted siding with potential underdog turning into a winner but that remains to be seen. Russian desperation has manifested itself as increasing soft escalations with the EU: drones can be seen flying here and there closing airports, Russian fighter jets have been escorted out of the air space of various western nations. Middle East is boiling as it always does but somehow it also manages to agitate western political figures into almost self harming pseudo rage.
Once again all this was hardly visible in stock market. Sure, there has been plenty of volatility but as the quarter closed we are sitting at or close to all time high valuations in many fronts. That includes myself as well since my main portfolio value increased 7,01% during the quarter. Total dividend income before taxes and converted to EUR at the time of writing stands at 2377,81 EUR. There were also few abnormal contributors in play:
- I initiated a long position in IREN (read: five years or something similar) but also traded succesfully with it in other portfolio and might continue to do so also during Q4
- I also reduced my working hours to 60% of full time work for now. Sadly this is heavily subsidized by our progressive tax system but let’s see how this goes. It will reduce my income but not as much as one would expect. Therefore impact on investing remains to be seen.
Strategy going forward is likely quite simple: I plan to increase my ETF positions and diversification in general. I might add on individual stocks here and there if the price is right but might also exit individual positions for cash, cash like products or ETF positions. One could describe this as a holding pattern with slight focus on safety.