Dear Investors,
MyNest US Fund is up 14.4% year to date, in line with the general US market. This performance was made possible by Google, as it single-handedly moved the needle for our fund.
The S&P 500 was, however, powered by the “Magnificent 7,” in which all AI-related stocks went into hyperdrive. Even Apple, in which our fund has a small position, soared due to the sale of its new iPhone 17 series.
Market sentiment was very bullish for the month. This sentiment should continue into October, where earnings will decide whether there will be a downward shift in gears, especially in the AI space.
Adding Up on Uber & Markel
We added on our Uber position despite its rich valuation, as its fundamentals continue to improve. Uber services Total Addressable Market is only going to grow and stay. Further the mobility and food delivery space has consolidated and I see it being occupied by only a handful of players.
This oligopolistic environment usually provides good margins for businesses within the space. Markel was also bought towards the end of the month due to its recent weakness. We added Markel due to Google being one of its largest holdings and it being a beneficiary of lower interest rates.
We also sold Okta towards the end of the month after realising its impact in the space may be restricted due to the overarching reach of its main competitor Microsoft.
MyNest US Fund Portfolio Compositions
MyNest US Fund Performance
Mynest US Fund managed to stay ahead of our benchmark by a small margin as strong gains from AI-related stocks continue to drive the S&P500 higher.
Segment Chart
We have made changes to some segments specifically to segregate between advertising and cloud business from the software business. This enables us to view our portfolio concentration more holistically as we continue to deploy cash in this frothy environment.
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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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The SRS Fund Dec 2025
If someone had told me at the start of the year that the Singapore stock market would deliver returns in excess of 20%, I would have shrugged it off as wishful thinking.
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MyNest US Fund Dec 25
MyNest US Fund rounded the first year of inception with a slight outperformance to our benchmark the S&P 500. The first year of operation tested to resolve in knowing what we own as we navigated volatility which started on Trump’s Liberation Day.
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The SRS Fund Nov 2025
If you’ve been watching the Singapore market this past month, the narrative has been impossible to ignore: it is a tale of three banks, and unfortunately for UOB, it has found itself lagging its peers.
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MyNest US Fund Nov 25
November tested the patience of the broader market, defined by a distinct shift in sentiment regarding Artificial Intelligence. The narrative of an “AI Bubble” finally took hold,
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