Nordic Small Caps: New ideas and key takeaways from Carnegie’s Seminar

We had the opportunity to participate in Carnegie’s Nordic small-cap seminar in Stockholm. Over three days, we met with approximately 20 existing and potential future investments. Companies that impressed and convinced us included contract manufacturer Hanza, diagnostics company Devyser, measurement technology company Vaisala and cosmetics distributor Matas, to name a few. The focus was on forming an opinion of the current market situation and the opportunities for growth that companies have as we enter 2026.

The focus was also on the companies’ opportunities to raise prices and their potential for growth through acquisitions. Another overarching theme was how companies in different sectors can benefit from AI developments in our society. Rising tariffs in the US were on the lips of many companies and investors. By raising prices for end customers, companies hope to mitigate the effect. Many companies are also looking for new markets for their products. We returned home feeling comfortable with our funds’ investments and full of new ideas for 2026.

Kenneth Blomqvist, Portfolio Manager
Marcus Björkstén, Portfolio Manager