Recent Buy: IREN Ltd.

JP

IREN Ltd. will report earnings next week. They switched the reporting date to February 5th (moved to earlier date) and this aligns with Amazon. We are waiting for IREN to come out with a deal or deals and chances are that Amazon would be one to come out first. This would make sense location wise and aligned reporting is also a promising sign. We will see but since IREN dropped yesterday I decided to buy additional 30 shares for 52,90 USD per share. I’ll play this position as low risk & high reward play: this is not a huge position by no means (150 shares), I should be easily able to protect the original principle should the stock drop quickly and there’s somewhat high likelyhood for multiple deals to be signed during 2026. Should we get a huge upswing next week based on a new deal, I might trim some or even whole position if upswing is insane enough. In base scenario I expect to trim some of the position during H1/2026 or more likely during Q2/2026. I might leave some tail position for years to come and just forget about it.

See: https://finance.yahoo.com/news/iren-limited-gears-q2-earnings-151700068.html

Recent Buy: Sampo Plc

JP

This was a bit unplanned but Sampo dropped today about 5% without any obvious triggers. Or at least I’m not aware of any triggers but seems very odd move for a stock like Sampo. Who knows, maybe it’s the Lemonade & Tesla FSD effect or more like the effect of such concept going forward seen as quickly escalating risk for legacy incurers. It’s by no means a cheap stock even after this drop but I decided to buy additional 100 shares for 9,34 EUR per share.

See: https://www.reuters.com/business/autos-transportation/lemonade-halve-tesla-insurance-rates-miles-driven-with-software-assistant-2026-01-21/

Recent (Short Term?) Switch: Lockheed Martin for Franklin European Quality Dividend UCITS ETF & XACT Nordic High Dividend Low Volatility ETF

JP

This might end up being relatively stupid move but I sold my 30 shares of Lockeed Martin for 578,00 USD per share with roughly +26% profits + dividends. This was mainly motivated by the current state of US government: while they are very likely investing heavily in defence, they are also talking about stricter control for defence companies. Further more tensions with Europe are very high due to the insane Greenland issue they claim to be having. It’s very likely that European countries, and likeminded countries elsewhere, will opt out from US weapons systems as much as possible. These tensions will probably go up and down as long as Agent Orange is playing his game, therefore it’s probably quite likely that Lockheed Martin will evantually go down in price even significantly. At that time I might consider byuing these shares back but that is not guaranteed, so messed up is the whole trans atlantic situation.

For now as a strategic move I deployed this money in European positions to substitute the lost dividend income. I bought 300 shares of Franklin European Quality Dividend UCITS ETF for 33,601 EUR per share and 300 shares of XACT Nordic High Dividend Low Volatility ETF for 160,92 SEK per share. Probably a bit high valuation considering the fact that we just had a relief rally after Trump’s latest TACO move after Davos but it is what it is. Slight reduction in US and especilly USD exposure is the key here.

See: https://edition.cnn.com/2026/01/22/business/europe-trade-bazooka-trump-china-intl

Recent Buy: iShares NASDAQ 100 UCITS ETF EUR HEDGED & XACT Nordic High Dividend Low Volatility ETF

JP

Gotta follow the plan if you have one. Therefore I reinvested dividends and bough additional 10 shares of iShares NASDAQ 100 UCITS ETF for 14,75 EUR per share (December 19th 2025) and additional 50 shares of XACT Nordic High Dividend Low Volatility ETF for 160,54 SEK per share. Nothing special here as these together with Franklin European Quality Dividend UCITS ETF will be the vehicles for monthly grinding this year. NASDAQ 100 will cover long term growth with minimal purchases and with currency hedging while to other two funded mainly by USD dividends will slowly reduce my dollar heavy allocation and produce steady income instead of growth. Otherwise activities for the year are still open. If US market ends up in a huge bubble as I suspect it very well might, I’ll actually consider exisiting most if not all direct stock positions. Temporary exit and repositioning to mainly ETFs is a solid option and one that I’m willing to entertain if we see insane bubble.

Q4/2025 & FY2025 Results

JP

New Year’s eve and old tricks as markets were in general favourable despite all the turmoil around the world. At the time of writing this US markets will still be open for few hours but main porfolio gained about 16,75% in value while total dividend income was 15425,74 EUR for FY2025 (before taxes, converted to EUR at the time of writing). Solid progress there but in the real world progress has not always been positive. War in Ukraine is still raging on but perhaps there’s some hope for some kind of resolution in 2026. I would not get my hopes up since US is in many ways spiralling down when it comes to international alliances. Russia does what Russia typically does: fuck up everything it can get it’s hands on. Then there are the US activies around Venezuela and potential conflict with China over Taiwan. Latter would easily have huge impact globally but perhaps final showdown there will not take place just yet. This has potential for perfect storm type of a situation if multiple issues co-exist and escalate at the same time. There are some side shows that might see need to have increased presence in the global stage: Iran, North Korea and perhaps even India but likely more so in behind the scenes. Then again, if major risks don’t materialize we might see solid progress during FY2026. My main scenario is somewhat positive progress in Europe and potentially huge stock bubble in US. Therefore I’ll likely mainly add on ETF positions and fund those purchases mainly from received dividends. Should be thesis for IREN hold, I’ll start exiting the position during Q2/2026 and likely divert that money to other positions.

Recent Buy: Fortum Oyj

JP

I recently exited Fortum at 17,40 EUR per share and planned to buy those shares back at around 16 EUR if we get there. Fortum dropped today after updating financial targets so I decided to make the initial purchase: I bought mere 50 shares for 17,00 EUR per share. This sets the upper limit of my buy back range and hopefully rest will be bought back in a way that results having an average cost of low sixteen EUR per share.

See: https://www.inderes.fi/releases/fortum-updates-its-long-term-financial-targets-strategic-targets-and-strategic-kpis

Recent Buy: XACT Nordic High Dividend Low Volatility (UCITS ETF)

JP

Once more for the sake of consistency: I bought additional 100 shares of XACT Nordic High Dividend Low Volatility (UCITS ETF) for 154,16 SEK per share. Nothing new here as this is future core position in the making. Pure income play with a somewhat defensive approach. Decent mechanism to get exposure to norwegian and danish high yielders without having to adjust taxes afterwards.

Recent Buy: Nordea Bank Abp & XACT Nordic High Dividend Low Volatility (UCITS ETF)

JP

This was a bit unplanned but since Nordea dropped significantly after releasing updated financial targets I decided to make move despite already having heavy allocation. To me those targets seemed excellent and should those targets be met by 2030, we should be handsomly rewarded. Targets also included transitioning into semi annual dividends. I approve such move and should the targets be met, we might see annualized dividends of 1.40 EUR per share in roaring 30’s. I missed the initial drop while travelling but since recovery was sluggish, I bought additional 100 shares for 14.375 EUR per share.

While at it I also bought additional 100 shares of XACT Nordic High Dividend Low Volatility (UCITS ETF) for 154,87 SEK per share. This was planned deployment of the funds received from sold Fortum position. There are still some left but these will likely be deployed later this month together with incoming dividends.

Recent Buy: Petrobras ADR (Preferred)

JP

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.