Dwell+Done

Spring season with traditional finnish dividend payment season is getting close. Therefore I initiated a new position on Lassila & Tikanoja plc with an extremely small purchase of just 10 shares for 9,00 EUR per share. My plan is to slowly build a full position but will wait for ex dividend date before buying bigger chunks. Even then I might buy my way in with small chunks over longer period of time. Reason being that Lassila & Tikanoja has traditionally been a under performing dissapointment. Lately there have been some indications of potentially and finally bottoming out, hence the intention to build a full position on it if – and only if – these indications materialize. This is diversification play with a sector that should be really defensive so in that sense if would tick multiple boxes in my longer term plan.

Dividend re-investment time and decided to initiate a new position on General Mills. I have owned General Mills in the past and in retrospect should not have exited it back in 2018. Now this is mainly a diversification play with what seems like a reasonable valuation. General Mills stock has dropped significantly during the last three years or so and is yielding about 4% so I decided to buy initial 20 shares for 57,59 USD per share. I might build a mid sized position from this but let’s see how market moves in coming months.

End of the year cleanups continued. I sold all 3000 shares of Capman Oyj for 1,70 EUR per share and bought additional 300 shares of Fortum Oyj for 13,00 EUR per share. It remains to be seen if this Capman exit is only a short term move. This is now mostly tax related move: I record minor losses and I suspect that the stock might drop further down as people might be making similar moves before the year ends. I have very mixed feeling about Capman as it’s a poor performer on my portfolio and I have already significant exposure in the sector itself without it. Then again valuation can be considered to be relatively cheap and there has been some insider activity. But, there’s a bold question mark next to this assumption. Need to think about it, might buy these back or might not.

Year is coming to an end and it’s time to do some cleanups in the portfolio. Hennes & Mauritz has been the performing very poorly for quite some time now. I initially had anticipated a rebound on execution possibly combined with a buyout since ownership is heavily in the hands of Persson family. Neither of these really materialised and – as the sector in general is and has been chronically troubled – it’s time to move on. I sold all 250 shares 155,35 SEK per share and bought additional 200 shares of Nordea Bank Abp and additional 40 shares of Pfizer Inc. for 25,58 USD per share. For now I consider this Pfizer position to be full but might consider increasing it should market overreactions provide meaningful possibilities.

In addition to this swap I bought additional 25 shares of Kesko (B series) for 18,615 EUR per share. Kesko was down today after reporting somewhat disappointing numbers and this purchase was anyway preplanned for December. This completes my Kesko position at least for the short term. Position consists of 300 shares and I’ll probably increase the position only under extra special circumstances.

Black friday is here and Nordnet had a campaign for US stocks without transactions fees. This enabled me to re-invest accumulated dollar dividends with a purchase of additional 30 shares of Pfizer Inc. bought for 25,80 USD per share. To me Pfizer has looked cheap for quite some time now. Even more so after Trump’s election win which was followed with nominations that might be negative for big pharma. This might have increasingly negative impact on the sector and especially on Pfizer. Should that be the case, I’ll probably moderately increase my exposure along the way. Long term these companies provide vital products and – I hope – know how to handle possible litigation in the short term.

Partial dividend re-investment and partial injection of fresh capital as Kemira paid dividends recently. This money was used to buy additional 25 shares of Kesko Oyj for 19,03 EUR per share. As anticipated before, this was one of the two planned additions to round the position up to even 300 shares. Identical purchase of additional 25 shares is in the books for December.

Dividend re-investment time as both Kesko and Fortum paid dividends this month. Kesko was down today so I bought additional 20 shares for 17,73 EUR per share. This brings my total in 250 shares and right now 300 shares seems like sensible target. I’ll likely nibble remaining 50 shares during next few months.

Dividend re-investment time with additional 25 shares of Bristol-Myers Squibb bought for 51,60 USD per share. Original goal was to build a modest position of 100 shares and that has now been completed. Might still slowly increase the position together with Pfizer and Medtronic positions but that remains to be seen. All of these are likely funded with dividends only unless there’s significant market correction.