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 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.
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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.
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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%.
MYNEST.SG 