September 2026 Markets Review
Portfolio: -9.20%
S&P 500: -0.45%
NASDAQ: +1.93%
As we can see from the chart above, September was a truly mixed month. Many technology names rallied, led by META, AMD, MU and INTC, while pretty much the rest of the market fell.
We discussed in the August review that September has historically been the weakest month for the markets over the past 20 years, with -0.6% monthly returns on average. It was only higher 45% of the time. Again, it was a negative month for the S&P 500 index, although the NASDAQ did close higher thanks to the technology rally we discussed earlier.
10/11 sectors were red in September, but Technology with the highest weighting, heading up 5.1%, meant the overall index was only down slightly at -0.4%.
Additionally, in September, only large cap growth was up for the month, no doubt led by the technology giants we mentioned earlier. All other categories were red on the month.
My decision to raise cash in late-August was the right one in hindsight. I had raised my cash position from 4.6% to 10.7%. As subscribers will know, I don’t make moves on a daily basis, and some times not even for weeks. In the past month, I have deployed the cash that was raised, along with some re-balancing of the portfolio that I discussed in the article below:
We will discuss more about the markets looking forward in the later segments.
Portfolio Performance (Since Inception)
(Portfolio Inception Date: 27th October 2023)
Portfolio: +193.64%
S&P 500: +84.94% (Outperformance: +108.7%)
NASDAQ: +117.78% (Outperformance: +75.86%)
Portfolio Performance (YTD)
Portfolio: -1.22%
S&P 500: +11.77% (Underperformance: -12.99%)
NASDAQ: +16.09% (Underperformance: -17.31%)
