The “GSP Portfolio” performance is calculated as a total return NAV in USD including all trading and dividends since the blog inception (no trading fees deducted). Trades are executed at the closing prices (to simplify the NAV calculation process). The performance is including cash held, which has 0% return. The 0% return on cash roughly compensates for not deducting trading fees. The benchmarks are also calculated on a total return basis (including dividends and no fees).

Below is the Portfolio’s current holdings.


Holding performance is excluding dividends, so holdings like Greatview/Tethys which have a high payout ratio will seem to have performed worse.


  • Fenix Outdoor
  • Fourlis
  • F-Secure
  • Teva Pharma
  • Royal Unibrew
  • Probi
  • Biogaia
  • 3sBio
  • Comvita
  • Ningbo Joyson
  • Sobi
  • Societe BIC
  • Christian Hansen
  • Munters
  • Toto
  • SAES Getters
  • LEM Holdings
  • Technogym
  • First Pacific
  • Osstem Implant
  • Tobii
  • Tomra Systems
  • Daikin
  • Kingsoft
  • Vitasoy
  • Materialise NV
  • Paul Hartmann
  • Cosmax
  • Amorepacific
  • NIU


Last updated 2023-01-27