All of June’s dividends have now been credited to our accounts, and it’s gratifying to see that we are on the right side of the forecast.

Since we made our reallocation at the end of Q1 and beginning of Q2, it’s difficult to say exactly where we will land for 2026, but there is no doubt that dividends will be 11–12% lower than in 2025.

The most important chart for us now is the one showing the development of our total capital.

That I haven’t had one since the beginning is honestly a bit embarrassing. I’ve been completely fixated on the dividends and somehow managed to sideline the actual portfolio value — which is, you know, the most important thing.