The long-awaited drawdown of the US stock market finally arrived. Not since 2022 had the US market seen any significant drawdown of sorts. The Magnificent 7 suddenly did not look so magnificent in the month of March as US technology stocks, especially AI-related ones, finally came down from their elevated valuations.
Paypal and Disney
MyNest US Fund added Paypal and Disney due to put option assignment as sentiment turned sour. While our US Fund will occasionally sell put options, we have every intention of buying the target companies at the strike prices if they are ever assigned.
Brookfield Corporation and AO Smith
With sentiment down, we managed to pick up more of Brookfield Corporation and a newly added position in AO Smith at reasonable prices. AO Smith is a well-managed water-heating solution provider and is a company with an excellent track record of delivering results. I have personally used their product and find them to be of stellar quality.
MyNest US Fund Portfolio Compositions
With the drawdown, such opportunities must not be wasted the fund got more cash investment, and units were sold at $1.00 par. Hence, readers may see a jump in cash holding due to such an injection even after several investments.
MyNest US Fund Performance
With the souring of sentiment, MyNest US Fund turned negative for the year. However, we have put some distance from the S&P 500, which is down 4.5% YTD versus 1% for our fund.
In the long term, I would not worry too much about the volatility as I am confident our portfolio of businesses will stand the test of time and deliver satisfactory results for all investors.
Segment Graph
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