Tariff was the key word of the month. Despite the use of the word in every financial media and conversations, the details and any impact tariff may create is still up in the air.
Uber and Grab
Earnings within the portfolio companies went without much surprise. I have added to the position in Uber and initiated a small position in Grab. The thesis is simple. These ride-sharing companies will become like utilities. It means they have become an essential part of the global transportation system.
With them operating at scale, their incremental cost will decline as revenue scales up. Suggesting a high possibility of margin expansion. How autonomous vehicles will impact ride sharing is still a question mark, but I am cautiously optimistic that platform companies like Uber and Grab will be part of the game as they will have the user numbers to deploy such vehicles at scale.
Berkshire and Markel
Both Berkshire and Markel saw meaningful rerating as their insurance business gained profitability margins. Technology stocks like Alphabet and Paypal come under pressure due to the sharp run-up in the past years.
MyNest US Fund Portfolio Compositions
The very small position in Palantir was sold during the month as its price ran way ahead of its fundamental. At one point, it was trading at nearly 100 times prices to sales, which is incredible given that even at zero operating cost, it will take the company 100 years to earn back its valuation.
Compare this to Amazon or Tesla whose valuation seems the loftiest at times, P/S ratio never exceeded 30 times.
MyNest US Fund Performance
Overall, MyNest US Fund is up 3.5% YTD versus the S&P 500 1.2%. Much of this outperformance is due to the drag the Magnificient 7 has on the S&P 500. While the MyNest US Fund is only into the 2nd month of the year. Things are already looking relatively positive with the fund not as heavily positioned into technology stocks.
Segment Graph
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The SRS Fund Jun 2026
The month of Jun provided an important milestone in the Iran conflict. The agreement between the United States and Iran marked a significant step towards reducing geopolitical tension and reopening a clearer path for global energy flows
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MyNest US Fund Jun 26
June was another remarkable month in the evolution of the global capitalism and the artificial intelligence investment cycle.
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The SRS Fund May 2026
Korea, powered by the worldwide shortage and surge in memory demand, was hit directly by the AI wave, with its stock market more than doubling in a matter of 5 months. Taiwan, already the world’s most important advanced chip manufacturing hub has risen to become one of the largest stock market globally.
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MyNest US Fund May 26
May has been an incredibly illuminating month for the MyNest US Fund. Looking across the broader landscape, the S&P 500 Index has continued its steady leg up, gaining +5.15% in the month of May alone to push its Year-to-Date (YTD) gain to +10.73%.
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The SRS Fund Apr 2026
In my investment journey, there have been three occasions where I witnessed a company deliver a 10x return.
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MyNest US Fund Apr 26
The market rebounded strongly in April as investors appeared to look past geopolitical uncertainty and renewed their focus on earnings, artificial intelligence, and the long-term growth prospects of quality businesses.
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