On July 1, the second rebalancing of my Wikifolio took place—a rule-based portfolio with 30 equally weighted positions that has been running since March 13. Nine positions out, nine in. I had expected this to shift the structure. When I checked the numbers, almost everything was the same as before.

A quick note on how it works

A Python scanner evaluates approximately 845 stocks from 14 indices daily based on six factors. Those that make it into the top 25 are purchased. Those that fall below rank 40 are removed. Quarterly adjustments, no sector allocation, no discretion.

What was dropped:

• 4 tech stocks: Applied Materials $AMAT (-1,49%) (+92%), KLA-Tencor $KLAC (-3,56%) (+90%), Broadcom $AVGO (-6,51%) , Amphenol $APH (+0,58%). Not because of earnings, but because the valuation could no longer keep up with the share price and the stock’s ranking plummeted.

• 5x Finance: ING $ING (-0,64%), Jyske Bank $JYSK (+0,14%), Unicaja $UNI (+0,89%), Baader Bank $BWB (-0,89%), Nu Holdings $NU (+7,45%).

New additions:

• ASML $ASML (-0,98%), Alphabet $GOOG (-0,23%), SanDisk $SNDK (+5,95%), Investor AB $INVE B (-1,25%), BBVA $BBVA (-0,16%), UniCredit $UCG (-0,4%), Monte dei Paschi $BMPS (+1,18%), Banca Mediolanum $BMED (+0,68%), Swedbank $SWED A (-0,03%).

The interesting part

Micron $MU (+0,63%) stayed in the portfolio, up over 100 percent. The score held, and the ranking remained higher. A system that sells based on profit would have kicked Micron out first. The model treated these three big winners completely differently because it doesn’t know the purchase price at all.

And on the other hand:

SanDisk $SNDK (+5,95%) was added that same evening, at 1,820 euros. The stock had already been on the buy list in April but wasn’t tradable at the time. Today, the position is down about 50 percent. The timing could hardly have been worse.

The sector breakdown before and after

Technology fell from 30 to 23.3 percent, financials rose from 36.7 to 40. Materials remained at 16.7.

A factor model does not distinguish between sectors. It sorts by score, and stocks in the same sector often receive similar scores because they are influenced by the same drivers. If one falls below rank 40, there is a high probability that another from the same sector is ready to take its place in the top 25. The model captures gains and returns to the same sector, just with different names.

My Conclusion

One quarter doesn’t prove anything. I don’t have a sector cap in the model because my backtest doesn’t have one either.

Next rebalancing: October 1.

Who among you uses a rule-based approach and has a sector cap in place?

I’m curious to know what percentage cap you use.

Hi there, community! 🚀

While many investors are desperately searching for the next hot stock, we’ve unearthed a Swedish powerhouse for the defensive A-side of our portfolio.

Imagine a stock that’s basically like a hand-picked Scandinavian quality ETF , has outperformed the market for over 100 years, is led by Northern Europe’s most powerful financial dynasty, and has outperformed even Warren Buffett’s Berkshire Hathaway and the S&P 500 over the past 5 years.

Since the chart for GQ is distorted by the stock split, you’ll find a chart below comparing it to the S&P 500 and others.

That’s exactly what Investor AB $INVE A (-0,09%)

.

The stock $INVE B (-1,25%) is exactly the same, except that the voting rights here are 1:10.

Let’s fire up the engine room and lay this Scandinavian money-printing machine on the dissection table, following our 15-point template exactly:

Investor AB ISIN: SE0015811955 ~€38.21 / 440.00 SEK

1. What the company does & how it came to be

The origins: Investor AB was founded as early as 1916 by the legendary Swedish industrialist family Wallenberg as far back as 1916. The family’s philosophy has been the same for generations: “Esse non videri” (To be, not to seem). The Wallenbergs have shaped the Scandinavian economy for over a century.

The Business Model – The Ultimate Scandinavian Compounder:

Investor AB is an investment holding company that allocates its capital across three highly profitable pillars:

• Listed Core Holdings: The backbone consists of majority or anchor stakes in global market leaders. These include industrial giants such as $ATCO A (-0,92%)
  Atlas Copco (compressed air & vacuum technology), $ABBN (-0,99%)
  ABB (robotics & energy), $AZN (-0,9%)
  AstraZeneca (Pharmaceuticals), $SEB
  SEB (Skandinaviska Enskilda Banken), $EPI A (-0,18%)
  Epiroc (mining equipment), $SOBI (-1,77%)
  Sobi (biotech), Nasdaq Inc., Wärtsilä, Electrolux and Husqvarna.

• Unlisted companies (Patricia Industries): Wholly-owned subsidiaries in the medical technology and healthcare sector (e.g., Mölnlycke Health Care, Permobil, Laborie). These cash cows are fully consolidated into Investor AB’s balance sheet and generate steady profits.

• Financial investments (EQT): Investor AB is the largest anchor investor and co-founder of the global private equity giant EQT AB. Here, the company benefits directly from the lucrative buyout and infrastructure business.

2. Current Key Figures & Facts

• Market Capitalization: approx. 116.5 billion EUR / ~1,300 billion SEK
• Current share price:
  38.21 EUR (52-week range: €25.67 – €38.26)
• Revenue (LTM): approx. 29.63 billion EUR
• Net income (LTM): approx. 23.71 billion EUR
• P/E Ratio: 4.9x
  (Extremely cheap for a quality compounder)
• P/B Ratio:
  1.2x
  (Close to net asset value)
• Return on Equity (ROCE):
  27.3%
• Net Debt/Total Capital: A meager 7.5%
  (Rock-solid balance sheet)

3. Core Quality Formula (Revenue Growth + Margin)

Our target score for solid investments is > 25.

• Revenue CAGR (5 years):
  20.1% p.a. (current LTM revenue growth, driven by consolidation, is as high as 285.1%)
• Operating EBIT Margin: Massive 82.1%
• Score = Revenue CAGR 20.1% + EBIT margin 82.1% = 102.2 points

• Conclusion:
  Phenomenal! A quality score of 102.2 points completely blows our scale out of the water. Since private equity firms have virtually no physical cost of goods sold, nearly the entire gross profit remains as EBIT.

4. Cash Flow Quality Formula

• Free Cash Flow (FCF) Yield:
  1.6%
• Conclusion: For a holding company, the FCF yield is naturally lower, as profits are directly reinvested to increase the net asset value (NAV) of the portfolio companies. This reinvestment yields a return on equity of over 27%!

5. Dividend Filter (Income-Core)

• Dividend Yield:
  1.35% (~€0.4985 per share)
• Payout Ratio:
  6.36% (Extremely conservative, maximum leeway)
• Dividend growth (5 years):
  10.1% p.a.
• Growth streak: Increased for 6 consecutive years.
• Filter Exception: Although this appears to fall below our 3.5% minimum threshold, our quality exception: The dividend is growing at a double-digit rate, the balance sheet is extremely strong, and net asset growth is easily outpacing the overall market.
• 🇸🇪 Tax Note for Sweden: Sweden levies a 30% withholding tax. Under the double taxation treaty (e.g., with Germany or Denmark), 15% is directly credited, so there are no tax disadvantages.

6. Exclusion Rule Check

Does any of our exclusion rules apply? Not at all!

• The EBIT margin is > 80%.
• No debt problems (net debt at a meager 7.5%).
• A genuine value investment rather than a stock based on an empty narrative.

7. Future and Industry Outlook

The mix of automation (Atlas Copco, ABB), healthcare (AstraZeneca, Mölnlycke), digitalization (Nasdaq, EQT), and mining (Epiroc) addresses the most important megatrends of the coming decades.

Through the Wallenbergs’ active management, $INVE A (-0,09%) , underperforming holdings are consistently restructured and investments in future-oriented sectors are increased.

8. Competition

Compared to other Scandinavian holding companies (such as Latour, Kinnevik, or Indutrade) and global holding companies, its visual superiority is evident:

• 5-Year Performance: Over the past 5 years, Investor AB has achieved a total return of +83.00% —while the S&P 500 (SPY) returned +70.47% and other European benchmarks stood at -32.07% !

9. Analyst Forecasts & Fair Value

• Fair Value Model (InvestingPro):
  42.22 EUR
• Upside Potential:
  +10.5% from the current all-time high
• Quality Check Rating:
  4 out of 5 (Very good)

10. Chart Analysis of Recent Months

• Trend: A solid, crystal-clear upward trend from the lower left to the upper right.
• 52-week range: €25.67 to €38.26 (currently at an all-time high).
• Distance from moving averages:
• Current price +7.2% above the 50-day moving average.
• Price is trading +18.4% above the 200-day moving average.
• Volatility: Extremely low volatility.

11. Bargain Hunter List (Entry Zones)

Since the stock is currently trading near its 52-week high, the following zones are suitable for phased purchases:

Zone 1 (Direct Purchase / First Tranche):

• Price range: €37.50 – €38.50 (approx. 430 – 445 SEK)
• Strategy: Current level for starting a savings plan or investing the first tranche.

Zone 2 (First Dip / EMA 50 Support):

• Price range: €34.00 – €35.50 (approx. 390 – 410 SEK)
• Strategy: Healthy consolidation around the 50-day moving average. This presents an ideal buying zone for adding to your position.

Zone 3 (Bargain Hunter / EMA 200 Support):

• Price Range: €30.00 – €32.00 (approx. 345 – 365 SEK)
• Strategy: Strong long-term support around the 200-day moving average. An absolute bargain zone to significantly increase your position.

12. Future Viability

With over 100 years of success, deep roots in Scandinavian industry, and access to exclusive private equity deals through EQT, Investor AB is one of Europe’s most future-proof companies.

13. Potential Alternatives

Those looking for similar investment strategies will find them at $BRK.A (-1,21%)
Berkshire Hathaway (U.S.), $DHR (-1,03%)
Danaher (U.S.) or $MC (-0,05%)
LVMH (France). However, none of them offers this specific focus on Northern Europe combined with such a historically low P/E ratio.

14. Profit Margin Report

• EBIT Margin:
  82.1%
• Net Income: 23.71 billion EUR in profit on 29.63 billion EUR in revenue.
• Capital Efficiency: Return on capital employed (ROCE) of 27.3% demonstrates excellent capital allocation by management.

15. RaketenToni’s Conclusion & Risk Disclosure

Investor AB $INVE A (-0,09%) is the ultimate A-share stock!

If you don’t want to deal with the complexities of individual stock risks but still want to outperform the broader market, Investor AB gives you a Scandinavian super-ETF disguised as an individual stock to your portfolio. I’ve already done it!

A P/E ratio under 5, a 27% ROCE, and a 5-year performance that puts Berkshire Hathaway in the shade make this stock a must-have for any long-term wealth-building strategy.

An absolute top-tier compounder for the next 20 years!

As always, I’d love to hear your thoughts :)

Greetings from Denmark

Yours, Raketentoni

@Keineui

@Aktienhauptmeister

@Multibagger

@Tenbagger2024

@Get_Rich_or_Die_Tryin

@Stocktective

@Simpson

@WarrenamBuffet

@SAUgut777

@TradingHase

@PikaPika0105

@Derspekulant1

@NichtRelevant

@Klein-Anleger

@Dividendenopi

and, of course, everyone else :)

$INVE B (-1,25%)

Investor

Investor AB (INVE B) – Stock Analysis June 2026

$INVE B (-1,25%)

Investor AB is a Swedish industrial holding company headquartered in Stockholm, founded in 1916, that holds long-term stakes in leading companies such as ABB, AstraZeneca, Atlas Copco, Ericsson, and SEB.

The stock is considered a defensive anchor of stability in the portfolio and has recently delivered solid results.

## 1. P/E Ratio (Trailing & Forward)

| Metric | Value | Comment |

|---|---|---|

| Trailing P/E (2024) | ~8.3x | Based on EPS of SEK 37.00

| Trailing P/E (2025) | ~9.7x | Based on EPS of SEK 51.42

| Forward P/E (2026e) | N/A | Estimates pending

| P/B | ~1.0–1.1x | Moderately valued |

The P/E ratio fluctuates significantly, as Investor AB, being a holding company, experiences substantial valuation changes in its portfolio. The valuation of ~9x is considered attractive relative to the sector

***

## 2. Earnings per Share (EPS) – Growth Trend

| Year | EPS (SEK) | Change |

|---|---|---|

| 2021 | 74.41 | +332% vs. 2020 |

| 2022 | −24.38 | Loss year (market correction) |

| 2023 | 41.48 | Recovery |

| 2024 | 37.00 | −11%

| 2025 | 51.42 | +39% (record year)

EPS shows a highly volatile but positive long-term trend. 2025 was a record year: Net profit rose to SEK 157.5 billion, up from SEK 113.3 billion the previous year.

***

## 3. EBIT & EBIT Margin

| Year | EBIT (SEK billion) | EBIT Margin |

|---|---|---|

| 2021 | 229 | ~86% |

| 2022 | −66 | negative |

| 2023 | 133 | ~72% |

| 2024 | 122 | ~69%

| 2025 (Q1 2026 basis) | 165 | ~74%

The high EBIT margins (70–87%) are attributable to the company’s nature as a holding company: “Revenue” consists largely of investment income and dividend inflows from its portfolio companies [6]. In Q1 2026, adjusted NAV rose by 3% to SEK 1,125 billion

***

## 4. Dividend

| Key figure | Value |

|---|---|

| Dividend 2025 (paid in 2026) | 5.60 SEK/share

| Dividend 2026e | 5.975 SEK/share |

| 2027e Dividend | SEK 6.385/share

| Current Yield (2026e) | ~1.6–2.0% [3][10] |

| Average Dividend Growth (10 yr.) | **8% p.a.** ] |

| Payout Ratio (2021) | ~5.4% – very low

The dividend is paid in two installments: SEK 4.00 in May and SEK 1.60 in November 2026 [8]. The sustained growth of 8% p.a. over a decade is remarkable.

***

## 5. Price History & Performance

| Period | Performance |

|---|---|

| 1 year (through Jan. 2026) | **+20.6%**

| 5 years | **+105.4%** [11] |

| TSR 2025 (full year) | **+15%**

| TSR Q1 2026 | **+7%**

| 52-week high | ~34.53 EUR

| 52-week low | ~22.48 EUR

The stock has delivered exceptional performance over the past 5 years, significantly outperforming many European benchmarks [11]. The recovery from 2023 to 2026 was steep and stable.

***

## 6. Analyst Opinions & Price Targets

Of 13 analysts,

**8 recommend buying**,

4 recommend holding, and

1 recommends selling

The average price target is approximately **332–414 SEK** depending on the source.

The total return since the beginning of 2026 is already **+7%** (as of Q1)

***

## Overall Rating: *

*Fairly valued with upside potential**

Investor AB is one of Europe’s highest-quality holding companies with an excellent track record. Its portfolio of global corporations (ABB, AstraZeneca, Atlas Copco, etc.) offers broad diversification

The P/E ratio of ~9–10x appears **attractive to fair** given the stable NAV growth (+14% in 2025) and disciplined dividend growth of 8% p.a.

Risks include valuation sensitivity to the overall market as well as rising energy and freight costs, which could have a delayed impact

**Fair value (estimate based on analyst consensus):** approx. **330–415 SEK / ~32–40 EUR** per share [12][13] — at the current price of ~33–34 EUR, we are in the fair range with moderate upside potential.

and I don't want to buy it? How do you feel about $NOW (-2,78%) ? My community swears by $INVE B (-1,25%) ... but it's not my cup of tea.

https://youtu.be/m_PphV9GMWQ

Have a nice Sunday!

In my search for exciting stocks for the month of December, I came across $1211 (+0,05%) and $9868 (-0,59%) also $INVE B (-1,25%) was mentioned. Since I looked at all the companies, I have a clear picture for Investor AB from Sweden...

Feel free to take a look ;) Investor AB Analyse: DIE skandinavische Geldmaschine! 🔥 Eine Aktie für jedes Depot? - YouTube

$INVE B (-1,25%) 22,16€

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$AMZN (-1,28%) 144,90€