Samir Standnes

Portfolio

A concentrated portfolio of businesses I understand.

I buy shares in companies I understand well and plan to hold for a long time. I look for good businesses with strong track records, and I try not to overpay. I stick to public markets and keep things simple.

+18,0% Annualised return (XIRR) since 2019
6 / 7 Positive calendar years
+35,2% Best year (2024)
18 Positions

Annual returns

Calendar-year return in NOK. Current year is year to date.

Holdings

Sorted by weight. Cost per share in NOK. · Updated 2026-10-28

Company Sector Cost / share Since purchase Weight
D05.SI Singapore Financial Services 265,8 +102,9% 11,5%
BRK-B United States Financial Services 3 368,6 +50,5% 10,6%
ALV.DE Germany Financial Services 2 336,0 +91,5% 10,4%
MSFT United States Technology 3 102,2 +59,9% 9,9%
AMZN United States Consumer Cyclical 1 363,3 +73,3% 9,8%
2318.HK China Financial Services 62,0 −7,6% 6,7%
ADBE United States Technology 2 019,5 +14,8% 6,6%
AFG.OL Norway Industrials 179,1 +8,9% 6,5%
GOOGL United States Communication Services 1 134,9 +163,6% 6,0%
AENA.MC Spain Industrials 275,7 +0,2% 5,7%
SAP.DE Germany Technology 1 574,3 +39,9% 5,1%
LYMD.DE India · ETF Broad Market 272,9 −7,5% 4,2%
EMXC.L Multi-country · ETF Broad Market 266,5 +53,3% 2,0%
LOCK.L Multi-country · ETF Technology 86,1 +51,2% 1,8%
XAIN.DE Indonesia · ETF Broad Market 109,7 −37,9% 1,1%
XCS3.DE Malaysia · ETF Broad Market 139,1 −7,3% 0,8%
XPQP.DE Philippines · ETF Broad Market 14,5 −12,0% 0,7%
SPCX United States Industrials 1 098,2 +26,3% 0,5%
DSRT.OL Norway Basic Materials 20,8 −98,9% 0,0%

Where the money is

Share of portfolio by region and sector.

By region

  • Americas 43,4%
  • Asia 25,0%
  • Europe 21,2%
  • Nordics 6,5%
  • Emerging Markets 2,0%
  • Global 1,8%

By sector

  • Financial Services 39,2%
  • Technology 23,4%
  • Industrials 12,7%
  • Consumer Cyclical 9,8%
  • Broad Market 8,8%
  • Communication Services 6,0%

How I think about it

01

Quality first

I'd rather own a few great companies than a lot of average ones. I look for businesses that do something well and are hard to compete with.

02

Long-term value

I buy to hold, not to trade. Most of the work happens before I buy. After that, patience does the rest.

03

Margin of safety

I try to buy at a price that leaves room for being wrong. If I can't find a good price, I'd rather wait.