Analytical insights into undervalued Norwegian small-cap stocks listed on the Oslo Stock Exchange.
| Platform |  | Pricing | Freemium | Publishes | Twice weekly |
|---|---|---|---|---|---|
| Issues | 70 | Founded | a year ago | Last Issue | 5 days ago |
| Active | |||||
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norwaystocks.substack.comLatest Issues
Gullinbursti Dividend Portfolio – May 2026 Update
May was the first genuinely difficult month for Gullinbursti. The portfolio declined -5.94%, compared with -0.91% for the OSEBX, making it the weakest month since inception in late April 2025.
The drawdown came after a period of strong out...
Trade Alert: Entering SED Energy Holdings After the Overhang Clears
A high-yield offshore cash flow story where the seller overhang just turned from risk to catalyst
We are adding SED Energy Holdings (ENH.OL) to the Gullinbursti Dividend Portfolio at NOK 8.30.
The Barnacle Trade: A Hidden Nordic Beneficiary of the Hormuz Disruption
A tiny maritime problem with very large economic consequences.
The market has spent the past few months looking at the Strait of Hormuz through the obvious lenses.
Gullinbursti Dividend Portfolio – April 2026 Update
April was a quieter month after March’s record performance, but still an important one for Gullinbursti. The portfolio gained +0.81%, while the OSEBX declined -2.39%. After a full year, Gullinbursti has now delivered positive performance in...
Fugro: An Early-Cycle Recovery Candidate
A beaten-down early-cycle name with catalysts ahead
When we wrote about TGS in late September last year, the setup was clear.
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Authors
The writers behind this newsletter.
Investor with extensive experience in the Norwegian financial markets since 2002, specializing in small-cap stocks listed on the Oslo Stock Exchange. Professional background includes roles as a stockbroker and investor relations consultant.
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