Dear Investors,
I am happy to report that the fund has returned to keep pace with our benchmark the S&P500 index, despite it being structured to be a more resilient portfolio.
There were minimal changes to the fund as Zoom was sold due to its low growth profile, and in its place is a new holding in Okta. Okta is a Saas business in the user authentication space, which is quickly turning profitable due to economies of scale.
Like Zoom, it is competing in a space where its competitors like Microsoft, are giving out the same service for free. However, unlike Zoom, its customers cannot depend on just Microsoft unless they subscribe to Microsoft’s entire ecosystem. Hence, Okta value proposition is that it enables enterprise users to have a single login with multiple applications
Doubling Down on Paypal
The fund added even more PayPal stocks during the month. This is despite the ultra-competitive environment in the payment space. I truly believe the transformation of PayPal is well underway under its new CEO Alex Chriss.
No longer is PayPal an old juggernaut that is difficult to pivot as it gears up with new offerings, giving its competitors like Stripe and Adyen a run for their money. Given their vast user base of PayPal it can easily act like what Apple does to delight their customers with new and convenient services.
If your fund manager is correct PayPal together with Google and Uber will form the tip of the spear driving performance of the fund for many years to come.
MyNest US Fund Portfolio Compositions
MyNest US Fund Performance
Mynest US Fund outperformed the S&P 500 again with a year-to-date gain of 11.7%. This result was acheived by the strong performance of both Google and Uber with their increasingly stellar earnings performance.
Segment Chart
The fund segment remains diversified but yet able to generate outperformance. With cash coming down to the 10% level, I will be reopening fundraising activities for family members who wish to participate in our compounding journey. Do read the terms & conditions carefully before putting up your hard earn cash.
-
The SRS Fund Sep 2026
Sep brought a modest recovery in the SRS Fund, but it also left me thinking more carefully about how much of Singapore’s current economic and market strength is connected to the AI investment cycle.
-
MyNest US Fund Sep 26
The month of Sep brought together two developments that matter to our portfolio: Further progress in the field of AI and a sharp increase in long-term interest rates.
-
The SRS Fund Aug 2026
Aug’s economic update provided another reminder of how closely Singapore has become connected to the global investment in AI and semiconductors.
-
MyNest US Fund Aug 26
The idea behind the “SaaSpocalypse” was simple: if artificial intelligence could write software, generate content and complete business tasks, what would happen to the software companies charging customers to do those things?
-
The SRS Fund Jul 2026
For much of 2026, the market’s attention has been firmly fixed on AI, semiconductors and anything connected to the massive build-out in computing infrastructure.
-
MyNest US Fund Jul 26
After spending a long period watching the artificial intelligence infrastructure build-out from the sidelines, we finally decided to join the party—albeit cautiously.
