Equity market and valuation risk
The portfolio is marked to market, so share-price moves directly affect net asset value and earnings.
- Scope
- Listed Swedish small-cap holdings
- Materiality
- high
Svolder
Svolder is a Swedish listed investment company focused on publicly traded Swedish small-cap companies. It builds a concentrated portfolio of 15–25 holdings and is structured as a long-term owner of listed equities, with shares traded on Nasdaq Stockholm.
6
3.30
3.30
| % | |
|---|---|
| Listed equity investments | 90% Capital allocated to publicly traded Swedish small-cap companies held in the portfolio. |
| Portfolio management and analysis | 5% Selection, monitoring, and valuation work used to manage the investment portfolio. |
| Investor relations and reporting | 5% Annual and interim reporting, shareholder communication, and market disclosures. |
Svolder does not sell products to end customers in the usual sense; its economic counterparties are its shareholders,...
- Public shareholdersprimary
Buy Svolder shares for listed exposure to a concentrated Swedish small-cap portfolio and long-term capital appreciation.
- Institutional investorsprimary
Invest in the listed shares for portfolio allocation, liquidity, and access to Swedish small-cap returns.
- Portfolio companiessecondary
Receive capital, ownership support, and governance engagement from Svolder as a long-term shareholder.
Svolder is headquartered in Stockholm and its investment universe is primarily Swedish listed small-cap companies...
- •Headquartered in Stockholm, Sweden
- •Listed on Nasdaq Stockholm since 1993
- •Portfolio focus on Swedish listed small-cap companies
- •Economic exposure is concentrated in Sweden, with indirect international exposure via holdings
Svolder’s strategy is to invest long term in attractively valued Swedish small-cap listed companies using careful...
01
Concentrated Swedish small-cap portfoliolong-term
A focused portfolio allows deeper analysis and higher conviction positions in the company’s core market.
02
Fundamental valuation disciplinemedium-term
Buying attractively valued companies is central to generating excess total return versus the market.
03
Active ownership and engagementlong-term
Close ownership can improve governance, sustainability, and long-term value creation in holdings.
Svolder’s main risks come from equity market volatility, concentration in a limited number of Swedish small-cap...
Concentration risk
A portfolio of 15–25 holdings means individual positions can have outsized impact.
- Scope
- Single-name portfolio positions
- Materiality
- high
Liquidity risk in small-cap holdings
Smaller listed companies can be less liquid and more volatile in stressed markets.
- Scope
- Swedish small-cap market
- Materiality
- medium
Indirect foreign-exchange and macro exposure
Although holdings are SEK-listed, many portfolio companies operate internationally and face indirect FX effects.
- Scope
- Portfolio company operations outside Sweden
- Materiality
- medium
Financing and collateral risk
The company can use pledged shares and credit facilities, so market declines can reduce borrowing flexibility.
- Scope
- Pledged securities and credit facility
- Materiality
- medium
Fair value through profit or loss
Major driver of net income and equity
Investment company taxation
Affects effective tax rate and deferred tax presentation
Collateral and pledged securities
Affects liquidity and leverage analysis
Lease accounting
Can affect operating commitments and balance sheet presentation
: 11/08/2026