contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Investor is a Swedish investment and holding company that manages shareholdings and wholly owned companies through long-term ownership and active board involvement. The company invests in listed companies, unlisted businesses and private equity funds, and collaborates with management teams to create value in markets internationally. Investor was founded in 1916 and is headquartered in Stockholm, Sweden.

I wonder why there are even other investments besides Investor   Year-end report 2025 2026-01-22 08:15 GMT+01 “Many of the market conditions defining 2025 - currency headwinds, increased tariffs, cautious demand and unpredictable geopolitics - are likely to persist during 2026. Our key responsibility is to engage closely with our companies, being a demanding, yet supportive owner.” Christian Cederholm  President & CEO of Investor Highlights during the fourth quarter  Adjusted net asset value (NAV) amounted to SEK 1,087.1bn (SEK 355 per share) on December 31, 2025, a change of SEK 59.1bn, or 6 percent, with dividend added back, during the quarter. Total shareholder return amounted to 13 percent, compared to 6 percent for the SIXRX return index. For 2025, adjusted net asset value growth amounted to 14 percent and total shareholder return to 15 percent, compared to 13 percent for the SIXRX. Listed Companies generated a total return of 6 percent. For 2025, the total return amounted to 22 percent. Based on estimated market values, the total return for Patricia Industries, including cash, amounted to 1 percent (1 percent excluding cash), driven by earnings growth and multiple expansion, offset by negative currency impact. For 2025, the total return amounted to -9 percent (-10 percent excluding cash). Within Patricia Industries, reported sales growth for the major subsidiaries amounted to -5 percent. Organic growth in constant currency amounted to 5 percent. Reported EBITA declined by 9 percent and adjusted EBITA declined by 6 percent, impacted by negative currency effects and costs related to restructuring. Mölnlycke reported organic sales growth of 3 percent in constant currency, with Wound Care growing 5 percent. The profit margin increased, driven by lower cost and product mix, partly offset by negative currency impact, and tariff costs. The value change of Investments in EQT was 8 percent. Total net cash flow to Investor amounted to SEK 1,215m. For 2025, the value change amounted to 15 percent and the net cash flow to Investor was SEK -2,351m, including the SEK 4,492m investment in Fortnox. Leverage was 2.1 percent as of December 31, 2025 (1.2 percent as of December 31, 2024). Gross cash amounted to SEK 27,119m and the average maturity of Investor AB’s debt portfolio was 9.2 years. For fiscal year 2025, the Board of Directors proposes a dividend per share of SEK 5.60 (5.20) to be paid in two installments, SEK 4.00 in May, 2026, and SEK 1.60 in November, 2026.   And the full 2025 report:           vp053.alertir.com              202601219397-1.pdf    551.60 KB

Good points, and I’ll add a few of my own. In my opinion, Investor waits for opportunities quite patiently, much like Buffett. The portfolio grows quite steadily; it’s just sometimes a bit hard to notice since investments are made through Patricia and EQT. But as an example, in 2025 Investor AB invested in Foxnox through EQT via the EQT X fund. The company acts as an anchor investor in the fund. I don’t know if Investor’s funds were increased in the fund at that stage, but the investment was made regardless. As another example, Wärtsilä joined the portfolio in 2011. The company has made additional investments in Atlas Copco and Ericsson. But the optimistic valuation of many companies was well-highlighted there, so Investor might also be moving quite cautiously. During my own time as an investor, there was a situation where the company invested more in SAAB when it was in trouble, and that investment bothered me a bit because the company’s performance didn’t look very good. Now, it doesn’t seem like such a bad move.

Steady buying would work excellently with Investor. If investing more at once, good moments have at least been those when the stock market is nervous. That scale issue is interesting. Investor says they are targeting an 8% annual total return. Even that wouldn’t be too shabby. It’s easy to be a bit skeptical about whether this previous (and quite amazing!) 15% level can be maintained when the company doubles its size another two or three times. At least if we believe Berkshire’s example, the pace might steadily fade. It would be interesting to see how they approach the situation behind the scenes and what is written in the playbook.

All of that is true and relevant, especially if one is considering investing a larger sum into Investor right now. On the other hand, if those 3 stocks you mentioned were to drop by 30%, it would weigh Investor’s share price down by less than 12% (assuming the NAV discount remained unchanged). Then again, not that much. In a truly long-term portfolio that has already owned the stock and holds it through cycles, the volatility would, in my opinion, be quite insignificant and would only wipe out the gains from the previous 3 months. Risk depends a lot on the investor’s perspective.

I also wrote in this thread questioning why I would pay much over book value for this, but looking at the share price, I can say that below 1.1 P/B was probably a pretty good buying spot  Logically, performance should weaken as the scale increases, but Berkshire did succeed for a long time. Right now, I find the company too expensive again, but one could certainly buy this at regular intervals, just like a fund.

Interesting reflections here regarding Investor’s valuation and an appropriate premium. Based on the company’s history, one could even argue that a NAV discount isn’t justified in terms of returns, as Investor’s holdings have performed so well. Of course, there are many other reasons why the market applies these to investment companies. Regarding Investor’s current valuation, I would say that the excellent share price performance is partly a risk, as it has been driven specifically by Saab (P/E ~50), Atlas Copco, and ABB, which are valued with very optimistic P/E multiples of ~30. These are certainly high-quality companies benefiting from strong trends, but since these (very) highly valued companies make up 35-40% of the NAV, their valuation multiples had better hold; otherwise, the NAV and share price will come crashing down from that ATH.

Wallenbergs, Known for Wärtsilä, in Speculation to Buy German Diesel Giant The Swedish Wallenbergs are entering the race to acquire Wärtsilä’s toughest competitor, the former MAN Diesel. The sale of the German diesel giant Everllence is linked to the Wärtsilä Group through the fact that Investor, the investment company of the powerful Swedish Wallenberg family, owns approximately 17 percent of Wärtsilä and 14.4 percent of the Swedish EQT fund. According to Bloomberg on Thursday, the Stockholm-listed EQT fund has emerged as one of the candidates in the acquisition speculation surrounding the German ex-MAN Diesel, now known as Everllence. According to market rumors, the EQT fund has teamed up with the Singaporean fund GIC for the purchase of the German diesel giant. The acquisition of Everllence could turn into a fierce race, where according to market speculation, the world’s largest private equity investors, such as Advent and CVC Capital Partners, will face off against industrial players like the Japanese power plant manufacturer Mitsubishi. Everllence is one of Wärtsilä’s toughest global competitors in marine and power plant engines, as well as maintenance services.                   SalkunRakentaja – 16 Jan 26              Wärtsilästä tunnetut Wallenbergit Saksan dieseljätin ostospekulaatioissa    Ruotsalaiset Wallenbergit ovat lähtemässä kisaan Wärtsilän kovimman kilpailijan eli ex-MAN Dieselin ostosta.

Investor

"Många av de marknadsförhållanden som rådde 2025 - valutamotvind, ökade tullar, avvaktande efterfrågan och oförutsägbar geopolitik - kommer sannolikt att bestå under 2026. Vår främsta uppgift...

"Många av de marknadsförhållanden som rådde 2025 - valutamotvind, ökade tullar, avvaktande efterfrågan och oförutsägbar geopolitik - kommer sannolikt att bestå under 2026. Vår främsta uppgift är att engagera oss i våra företag genom att vara en krävande, men samtidigt stöttande, ägare."Christian Cederholm, Vd och koncernchef, Investor<h2>Viktiga händelser under det fjärde kvartalet</h2><ul>	<li>Det justerade substansvärdet uppgick till 1&nbsp;087,1 mdr kr (355 kronor per aktie) per den 31 december 2025, en förändring om 59,1 mdr kr, motsvarande 6 procent, inklusive återlagd utdelning, under kvartalet. Totalavkastningen uppgick till 13 procent, jämfört med 6 procent för SIXRX avkastningsindex. För helåret 2025 uppgick tillväxten i justerat substansvärde till 14 procent och totalavkastningen till 15 procent, jämfört med 13 procent för SIXRX.</li>	<li>Noterade Bolag genererade en totalavkastning om 6 procent. För helåret 2025 uppgick totalavkastningen till 22 procent.</li>	<li>Baserat på bedömda marknadsvärden uppgick totalavkastningen för Patricia Industries, inklusive kassan, till 1 procent (1 procent exklusive kassan), drivet av vinsttillväxt och multipelexpansion, motverkat av negativa valutaeffekter. För helåret 2025 uppgick totalavkastningen till -9 procent (-10 procent exklusive kassan).</li>	<li>Inom Patricia Industries uppgick den rapporterade omsättningstillväxten för de större dotterföretagen till -5 procent. Den organiska omsättningstillväxten uppgick till 5 procent i konstant valuta. Rapporterad EBITA minskade med 9 procent och justerad EBITA minskade med 6 procent, påverkat av negativa valutaeffekter och kostnader hänförliga till omstrukturering.</li>	<li>Mölnlycke rapporterade en organisk omsättningstillväxt om 3 procent i konstant valuta. Wound Care växte med 5 procent. EBITA-marginalen ökade, drivet av lägre kostnader och produktmix, delvis motverkat av negativa valutaeffekter och tullkostnader.</li>	<li>Värdeförändringen på Investeringar i EQT uppgick till 8 procent. Nettokassaflödet till Investor uppgick till 1&nbsp;215 Mkr. För helåret 2025 uppgick värdeförändringen till 15 procent och nettokassaflödet till Investor till -2 351 Mkr, inklusive investeringen om 4 492 Mkr i Fortnox.</li>	<li>Nettoskuldsättningsgraden uppgick till 2,1 procent per den 31 december 2025 (1,2 procent per den 31 december 2024). Bruttokassan uppgick till 27&nbsp;119 Mkr och den genomsnittliga löptiden på Investor AB:s skuldportfölj uppgick till 9,2 år.</li>	<li>För räkenskapsåret 2025 föreslår styrelsen en utdelning per aktie om 5,60 (5,20) kronor uppdelad på två utbetalningar, 4,00 kronor i maj 2026 och 1,60 kronor i november 2026.</li></ul><div>Denna information är sådan information som Investor AB är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning. Informationen lämnades, genom ovanstående kontaktpersons försorg, för offentliggörande den 22 januari 2026 klockan 08:15 (CET).</div>