Gullinbursti Dividend Portfolio – April 2025 Update
Charging Ahead: +4.57% in Our Opening Week
Welcome to the very first monthly update for the Gullinbursti Dividend Portfolio, officially launched on April 22, 2025. Initial positions were entered at the market open on April 23, marking the start of our performance tracking.
In its first week of life, the portfolio delivered an impressive +4.57% return, comfortably beating the OSEBX benchmark (Oslo Børs Benchmark Index), which rose +2.77% during the same period.
Portfolio Highlights
🏆 PetroNor E&P (PNOR.OL) led the portfolio with an +18.6% gain after surprising the market with a higher-than-expected dividend proposal of NOK 2.20 per share. This pushed shares sharply higher as income investors piled in.
🚢 Stolt-Nielsen (SNI.OL) gained +6.64%, driven by an accelerated share buy-back program. Between April 21–28, the company repurchased 114,000 shares at NOK 227, building on significant mid-April buy-backs and signaling management’s confidence in valuation.
🎥 Pexip (PEXIP.OL) rose +6.51%, with the bulk of the return (+6.38%) coming from its annual dividend payout. Shares rebounded swiftly post-dividend, reflecting renewed investor interest.
⚡ Elmera Group (ELMRA.OL) posted a +3.80% return ahead of its upcoming ex-dividend date on May 2, with investors positioning for the payout.
🏦 Sparebanken Vest (SVEG.OL) added +2.66%, supported by solid Q1 results that underscored continued strength in core banking operations.
DNO ASA (-0.77%) and Panoro Energy (-0.87%) were the only laggards, as both were held back by falling oil prices during the week.
ABL Group (ABL.OL) remained flat.
Dividends
Dividends contributed +0.80% to total return, coming solely from Pexip’s annual payout.
Track It Like Gullinbursti
To measure and visualize the performance of the Gullinbursti Dividend Portfolio, I rely on Sharesight – a portfolio tracking platform I’ve personally used for years to manage my private investments. It not only captures capital gains and dividends, but also adjusts for currency movements and corporate actions automatically.
If you're building a dividend or income-focused portfolio of your own, I highly recommend checking it out. It’s a powerful (and time-saving) way to keep tabs on total returns, just like we do here with Gullinbursti. (Full disclosure: if you sign up through my link, I may earn a small commission—at no extra cost to you. It helps support the project.)
Here’s a snapshot of the portfolio as of April 30:
📝 Final Note: If you’re enjoying these updates, don’t forget that paying subscribers get full access to our Watchlist Updates and Earnings Call Summaries, which are published more frequently throughout the month. These give you a closer look at dividend-relevant developments and company commentary – well beyond what we cover in the monthly wrap-ups.
Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice. Always conduct your own research or consult a financial advisor before making investment decisions. The author may hold positions in the mentioned securities.
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