Dagens industri's small-cap portfolio has endured a dismal start to the year. The publication has now opted for a major rotation among its holdings, ejecting two underperformers in favor of a neglected serial acquirer and two e-commerce players, according to an analytical update released on Thursday.
The small-cap portfolio struggled during the opening months of the year, posting a total return of minus 11.1 percent in the first quarter of 2026. This underperformed the broad SIXRX index, which remained flat, and the Carnegie Small Cap index, which shed 6.9 percent. The average Swedish small-cap fund has declined by 8.8 percent since the turn of the year.
The portfolio is now adding serial acquirer Sdiptech, online pharmacy Apotea, and e-commerce firm Boozt. Simultaneously, betting operator Betsson and caller ID specialist Truecaller are being removed, while positions in real estate firm Diös and healthcare provider Humana are being marginally trimmed.
The small-cap portfolio was launched on January 1, 2025. Since inception, its total return stands at minus 1.6 percent, compared to a 12.7 percent total return for the SIXRX.
Dios Fastigheter AB is a Sweden-based company active within the real estate sector. It is engaged in the acquisition, development, management and sale of primarily commercial real estate property, such as offices, retail premises and industrial premises, among others. Its real estate portfolio is focused in the municipalities of Borlange, Falun, Gavle, Mora, Ostersund, Sundsvall, Skelleftea and Lulea. As of December 31, 2011, the Company’s real estate portfolio comprised 93 properties with a total leasable area of 338,721 square meters. The Company has nine subsidiaries: Dios Fastigheter I AB, Dios Fastigheter II AB, Dios Fastigheter V AB, Fastighets AB Uprum, Dios Fastigheter X AB and Are Contrum AB, among others. In July 2014, it sold property Borgmastaren 4, Strandgatan 22 to a newly formed housing association Borgmastaren 4 in Ostersund. In September 2014, the Company sold a property at Solhojden 31 in Sundsvall to HSB Produktion.
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