First Half of July 2023

First half of July has passed. Usually July has been very quiet. This is true especially this year since our portfolio is very empty at the moment. However we are making progress every week and portfolio is growing slowly. So far we have made following transactions in July:

• 2 shares of Gladstone Investment Corp BDC @13,73 USD
  
• 5 shares of Capman @2,598 €
• 12 shares of Kesko A @17,59417 €
• 9 shares of Whitestone REIT @9,90577 USD
• 6 shares of Cibus Nordic Real Estate @112,51831 SEK

Above small purchases we made with dividends received. We are following our recovery plan. So far we have bought back 4 positions and we are currently buying back 10 positions. After filling one more position we will select next position to be filled. Because the buyback list is not static we have already replaced one of the companies with a new company. 

We received following dividends:

• 0,64 € interests
• 64,76 € from Main Street Capital
• 4,65 € from Whitestone REIT
• 26,46 € from Blue Owl Capital Corp
• 33,11 € from Spirit Realty Capital

Total amount of passive income was 129,62 €. We are really happy that we paid back our loans last year, because otherwise our cashflow would be tied to paying back principal and triple amount of interests.

End of the second quarter of 2023

We haven't updated our blog since last quarter end. The reason is that we do not have a lot to write about since we did not have many stocks left. We are in middle of buying back stocks and trying to improve the cash flow. Currently our cashflow is very uneven between months, since we only have bought some of the stocks back to original levels.

This quarter was pretty good in recoverywise, despite the values of the stocks declining a bit. Anyway we are quite happy that we were able to increase value of the portfolio by 11 000 €.

Investment portfolio

Asset class	30th Jun 22	30th Sep 22	31st Dec 22	31st Mar 23	30th Jun 23
Cash	6 761,52 €	6 443,06 €	2 774,08€	4 771,91 €	3 422,19 €
Investment funds	11 267,08 €	9 458,80 €	9 458,80 €	9 458,80 €	9 194,47 €
Coop memberships	1 500,00 €	1 500 €	1 500,00 €	1 500,00 €	1 500,00 €
Shares	233 072,96 €	237 740,19 €	12 027,66€	24 261,07 €	35 755,30 €
Gross investment portfolio	259 799,02 €	252 610,56 €	25 760,24€	39 991,78 €	49 871,96 €
Investment loan	13 365,98 €	12 446,07 €	0 €	0 €	0 €
Net investment portfolio	239 244,58 €	242 695,98 €	25 760,24€	39 991,78 €	49 871,96 €

Nothing more to report right now as our blog has been on pause for 3 months. We will try to update the blog fortnightly from now on.

End of the first quarter of 2023

It has been while since the blog was updated. Mainly because so little has happened. As our portfolio has been very small due to fact we sold most of our position at the end of the last year. However we have been active in rebuilding our portfolio slowly and steadily. During March we made several small purchases. Dividendwise the last month was quite quiet also. We only received one or two very small dividend payments per week. 

During the first quarter we managed to double our stock portfolio compared to end of the year 2022 because we had better free cashflow since we do not have any debt. At end of the first quarter 2023 we have more cash available than in end of the year but we have to reserve some cash for additional tax bill as the taxation of 2022 is about to be finalized. 

There has been no changes in Coop memberships or Investment funds. The reason is that the investment fund is only valuated once a year at the middle of the second quarter. 

Investment portfolio

Asset class	31st MAR 22	30th Jun 22	30th Sep 22	31st Dec 22	31st Mar 23
Cash	7 107,92 €	6 761,52 €	6 443,06 €	2774,08€	4771,91 €
Investment funds	9 831,25 €	11 267,08 €	9 458,80 €	9458,80 €	9 458,80 €
Coop memberships	1 500,00 €	1 500,00 €	1 500,00 €	1 500,00 €	1 500,00 €
Shares	241 359,58 €	233 072,96 €	237 740,19 €	12 027,66€	24 261,07 €
Gross investment portfolio	245 559,28 €	259 799,02 €	252 610,56 €	25 760,24€	39 991,78 €
Investment loan	14 225,10 €	13 365,98 €	12 446,07 €	0 €	0 €
Net investment portfolio	245 573,92 €	239 244,58 €	242 695,98 €	25 760,24€	39 991,78 €

We made quite many very small purchases, we do not list them here at this point of time but we update the income graphs. In February we received 104,91 € capital income and in March the income was 136,45 €. We are back on track to increase monthly capital income. The numbers we have now are lowest in 6 year history of keeping track of income monthly.  We expect to reach approximately the same grand total we reached 2017. 

Anyway we are very happy that our investment portfolio has started to recover.