📈 Portfolio Update – April 2025
A look at our portfolios, top performers, and key moves in April.
April has come to an end, and what a month it was! Time to look back on this turbulent month: which stocks stood out, which ones struggled, and what moves did we make last month? Dive into our April recap to find out!
Portfolio performances: how did we do?
April was a wild month for the markets. It all started on April 2 (Liberation Day) when President Trump announced a 10% tariff on all imports, for every country. At first, it didn’t seem too serious, but things got worse quickly. China was hit with 34% in extra tariffs on U.S. goods, which later in the month increased to 145%. Other countries were also hit hard: Cambodia with 49%, Vietnam with 46%, and Sri Lanka with 44%. Fear of a trade war spread fast. Investors started selling, and the markets dropped almost 10% in just two days, the biggest drop since the COVID crash in 2020.
On April 7, markets fell even further as the situation between the U.S. and China escalated. By that point, the Nasdaq was down more than 20% from its all-time high, officially entering a bear market. The S&P 500 was down over 15%. Market fear reached extreme levels, with the VIX, also known as the "fear index", spiking to 60, a level rarely seen. That day seemed to mark the bottom, but the rest of April remained shaky.
On April 21, markets dropped sharply again after Trump publicly threatened Fed Chair Powell. In the final days of the month, things turned around. The recovery was driven by hopes of possible trade deals, Trump confirming he wouldn’t fire Powell, and strong earnings reports from big tech companies like Google and Microsoft. Prices rose quickly, and while investors were still cautious, it felt like the worst was behind us, at least for now.
Let’s take a look, how did the indexes actually perform last month?
S&P 500: -0.8% (-5.3% YTD)
Nasdaq: +0.9% (-9.7% YTD)
Dow Jones: -3.2% (-4.4% YTD)
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Here’s how our portfolios performed over the past month: