Here’s a breakdown of Alppes Capital‘s activities and financial position at the end of 2024, based on the provided text:

Key Investment Areas and Holdings:

Partners Funds and Managed Companies:
Total investments by the end of 2024: EUR 14.6 million.
Indirectly co-financed investments through merito-managed funds and companies in:
solar Energy: Built 8 power plants in Latvia.
Mycabin: Modular home manufacturing.
Adaptive Media: E-commerce.
Co-financed real estate development projects in:
Old Town.
Mūkusala district.
Co-financed technology companies:
Tapbox: Develops self-service solutions.
SEF Storage: Develops self-service storage under the Box Storage brand in all three Baltic countries.

Financial Services Industry:
Invested in UAB Gindex: A licensed pension fund management company in Lithuania. Publicly Quoted Companies (Baltics and Scandinavia):
Purchased shares and invested in:
Artea Bank (formerly Šiauliu bank, Lithuania)
Coop Pank (Estonia)
LHV Group (Estonia)
Ipas Indexo (Latvia)
Swedbank AB (Sweden) – mentioned twice.
Handelsbanken (Sweden)
Nordea Bank (Finland)
Total investment portfolio in these and other publicly quoted companies (mainly banks) at the end of 2024: EUR 4.7 million. Used Car Trading Company:
Purchased shares in Kamux at the end of 2024.
Kamux is described as:
Largest industry company in Finland.
Top 7 company in Sweden.
Rapidly growing and developing in the German market.
Quoted on the nasdaq Helsinki Stock Exchange.
Consolidated annual turnover exceeds one billion euros.

Bonds:
Invested in bonds of various companies providing regular coupon revenue.
Total bond portfolio at the end of 2024: EUR 4.2 million.

Largest Shareholders and Long-Term Investors:
Alppes Capital is the largest shareholder and long-term investor in:
Eleving Group SA
Delphingroup
Sun Finance Group AS
Longo Group AS
Mintos Holdings AS

Financial Performance and Position (End of 2024):

Profit: EUR 74.8 million.
Equity: EUR 143.9 million.
Total Assets: EUR 145.6 million.
Debt: No loans from credit institutions or any other loans.
Funding Sources: Operations and investments funded from equity and revenue from dividends, interest, and coupons.Company Profile:

Type: Multidisciplinary entrepreneur Aigars Kesenfeld family investment company (family office).
Purpose: To raise capital in the long term.
Main Sources of Investment: Dividends and interest revenue from related and associated companies.
Investment Strategy: Invests in private and publicly quoted companies, bonds and other debt securities, and long-term investments in option investment funds.

Employees: More than 5,000 employees work in these companies, with about a thousand in Latvia.
Turnover: Total annual turnover exceeds €600 million. Global Reach: Operates in more than 30 countries.
* Tax Contributions: These companies have contributed more than EUR 25 million per year to the Latvian state budget in recent years.

Stocks Climb Despite Tariff Worries

Wall Street hits new highs; oil prices decline

Global stock markets mostly saw gains Thursday, seemingly shrugging off concerns about potential tariff hikes threatened by **President Donald Trump**. U.S. indexes reached new peaks, while oil prices took a tumble.

U.S. Markets Reach Milestones

The S&P 500 and Nasdaq Composite both achieved record highs, with the Dow Jones Industrial Average also experiencing an upswing. Shares of airline companies like Delta, United, and American Airlines saw particularly strong gains.

According to a recent report, retail investors are showing increasing confidence in the stock market, with participation rates up 15% compared to last year (Investopedia 2024).

Analyst Perspective

It is quite clear that the market does not want to focus on tariff news until these tariffs have come into effect, said **Steve Sosnik**, an analyst at Interactive Brokers.

Investors appear to be waiting to see if **Trump’s** tariff threats materialize before reacting significantly.

European Markets Mixed

The London Stock Exchange index surged by 1.2%, hitting a new record, boosted by rising mining stock values after **Trump** suggested a 50% tariff on copper imports starting August 1. The Paris Stock Exchange also saw gains after the rise in Asian stock exchanges. In contrast, the Frankfurt Stock Exchange index experienced a decline.

Oil Prices Fall

World oil prices decreased. WTI crude oil in New York e-trading fell by 2.7% to $66.57 a barrel. Brent crude oil on the London stock exchange fell 2.5% to $68.64 a barrel.

Index Performance

Here’s how key indexes closed Thursday:

• Dow Jones Industrial Average: Up 0.4% to 44,650.64 points.
• Standard & Poor’s 500: Up 0.3% to 6280.46 points.
• Nasdaq Composite: Up 0.1% to 20,630.66 points.
• London Stock Exchange FTSE 100: Up 1.2% to 8975.96 points.
• Paris Stock Exchange CAC 40: Up 0.3% to 7902.25 points.
• Frankfurt Stock Exchange DAX: Down 0.4% to 24,456.81 points.

Currency Exchange Rates

The euro weakened from $1.1720 to $1.1698. The British pound also fell from $1.3586 to $1.3576 per pound. The US dollar decreased from $146.33 to $146.19 per dollar. The euro’s value against the British pound declined from 86.27 to 86.16 pennies.