Hi, I’m sending a portfolio update. During April, the market rebounded strongly after the March correction. As of April 29, my portfolio is up +7.8%, returning to positive territory YTD.
This recovery has been driven by improved sentiment around interest rates, reduced macro uncertainty, and solid earnings supporting forward expectations. As a result, we are seeing a shift back into risk assets, particularly in high-quality growth names.
From a portfolio perspective, both healthcare and technology contributed to performance. In healthcare, UnitedHealth Group ($UNH) and CVS Health ($CVS) posted notable rebounds during the month, mainly driven by relief rallies after prior weakness, easing regulatory concerns, and renewed interest in defensive sectors as visibility improves.
At the same time, the market is showing increasing dispersion: some names have recovered sharply, while others remain more lagged, creating opportunities for selective rebalancing within the portfolio.
We are seeing this clearly in software, where despite the rebound, parts of the sector remain pressured by AI-related CapEx, margin concerns, and monetization uncertainty. Valuations have normalized across the board, with Microsoft ($MSFT), Salesforce ($CRM), and Adobe ($ADBE) all trading roughly in the ~22–25x forward P/E range, closer to historical averages. We see this as a gradual entry opportunity and have been increasing exposure selectively.
Within the Magnificent 7, we are also closely monitoring Netflix ($NFLX) and Meta Platforms ($META), both of which have recently pulled back following weaker-than-expected earnings reactions. These moves may create opportunities as the market reassesses growth expectations and forward guidance.
Overall, my strategy remains unchanged: actively rebalance, accumulate high-quality companies during periods of volatility, and maintain disciplined position sizing while keeping flexibility to take advantage of market dislocations.... Show More
Not investment advice. The author may have financial interests in the mentioned instruments.
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Sat Sep 05 2026 15:21:26 GMT+0000 (Coordinated Universal Time)
