Portfolio update

We continue almost fully invested in stocks (~99%).

Our new sector allocation for stocks look like this (please click the picture to enlarge):

The main theme is "technology and related services" as nearly 50% of the portfolio is now allocated to companies providing high tech products and/or services (software and/or hardware) or supplying components to such companies (e.g. semiconductor manufacturers).

In terms of place of incorporation, more than 60% are based our home country (Finland, Europe) and the rest are based in USA. Majority of the corporations operate and sell globally.

Sold Berkshire Hathaway and trimmed down Nokia

I have made many changes in our portfolio.

Selling all shares in Berkshire Hathaway (NYSE: BRK.B) is the most significant move this year. The position grew to be our largest position from entry at $126,75 in January 2016 to exit at $200,34.

Majority of the proceeds were converted to euro and deployed to grow our existing positions at Nasdaq Helsinki. The remaining dollars were used to open positions in Dell Technologies (NYSE: DELL) and CVS Health Corporation (NYSE: CVS).

Our position in Nokia Corporation (Nasdaq Helsinki: NOKIA) has been trimmed down significantly (over 50% sold). Our average entry cost - before trimming - was 3,13 euros with majority of the shares now sold having been acquired below that. Thus, a significant profit taken also from there. The proceeds were re-deployed to our other positions at Nasdaq Helsinki.

The main rationale behind the actions is to balance the portfolio and move money to the positions that seem to be much more promising over long term (5-10 year) than those that were sold.

We have now 25 stocks in portfolio and out of those 17 from Nasdaq Helsinki. Top 3 positions are dominated now by U.S names:

1. Western Digital
2. Apple
3. Micron