2025 started with a furry of news and activities that may have further implacations on companies in the portfolio. The 2 key events I kept my eyes on was the following.
LA Wildfire Crisis: A Government Failure
The LA wildfire crisis exposed major government inefficiencies. Regulatory price fixing forced insurance providers to exit the market, leaving homeowners with fewer options and rising costs. Additionally, slow emergency response, bureaucratic red tape, and poor coordination worsened the crisis, prioritizing politics over real solutions.
Both Berkshire and Markel are in the reinsurance space. Their exposure to the LA wildfire could have a temporary impact on their earnings if insurance products were mispriced. This crisis should give further insights to their underwriting discipline.
Deepseek and the AI Paradigm Shift
Deepseek challenges the idea that AI must rely on the most advanced GPUs, signaling a shift in Big Tech’s capital expenditure strategy. This could disrupt Nvidia’s dominance and reduce energy demands for large-scale AI deployments. If widely adopted, this approach may reshape the AI and semiconductor industries.
MyNest US Fund Portfolio Compositions
The Fund portfolio composistion were little changed as we enter into the earnings season. The US stock market was generally positive and investors were buzzing with optimism that the new president would enact business friendly economic policies.
MyNest US Fund Performance
MyNest US Fund moved slightly ahead of the S&P 500 due to the index concentration of AI related companies. This had allow our US Fund to ahead by 2% grabbing the lead early in the year. The performance however will ultimately be determined how well the Fund’s portfolio of companies do during this earnings season.
Segment Analysis
Segments were little changed as the slight uptrend movement of the market lifted most segments.
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The SRS Fund Mar 2026
It is an enduring market reality that a concentrated minority of holdings drives the vast majority of returns. For years, DBS (currently the largest individual holding at 20.6%) has served as the compounding engine of the SRS Fund.
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MyNest US Fund Mar 26
March shattered any lingering market complacency, pivoting sharply from the localized damage of the “SaaS-pocalypse” to a systemic shock driven by the war in Iran.
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The SRS Fund Feb 2026
The Singapore Budget 2026 has set a robust backdrop for local investors. For the third consecutive year, the government is operating from a position of immense “dry powder,” with an overall fiscal surplus of $8.5 billion projected for FY2026.
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MyNest US Fund Feb 26
February 2026 proved to be one of the most challenging months for our fund since its inception. A wave of “AI anxiety” swept through the Software-as-a-Service (SaaS) sector
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The SRS Fund Jan 2026
After a blockbuster 2025 that saw GDP growth hit a surprise 4.8%, the first month of 2026 has proven that the momentum is far from a fluke. Between record-breaking stock market performance and massive industrial investments, the “Little Red Dot” is making a very big noise.
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MyNest US Fund Jan 26
I have a confession to make. After reading Chip War at the end of 2022, I fully grasped the strategic importance of TSMC and ASML in the global semiconductor supply chain.
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