Investor letter
A positive week in absolute terms, but meaningful underperformance versus the benchmark.
Week of August 3, 2026 – August 9, 2026 · +0.15% return.
Return +0.15%S&P 500 +2.31%Alpha -2.16%Portfolio $1,045,214
Performance
For the week ended 2026-08-09, portfolio value increased from 1043660.7 to 1045213.7, a return of 0.15%. The benchmark returned 2.31%, producing alpha of -2.16%.
Winners
- MSFT gained 28.03% this week; its return since the position was opened is 20.98%.
- AMZN gained 21.10% this week; its return since the position was opened is 13.96%.
- NVDA gained 17.87% this week; its return since the position was opened is 9.22%.
Losers
- AAPL declined -7.35% this week; its return since the position was opened is 4.42%.
- UNH declined -3.21% this week; its return since the position was opened is 0.88%.
- JNJ declined -2.37% this week; its return since the position was opened is 7.09%.
Portfolio changes
We bought 70 shares of AAPL, 20 shares of MSFT, and 50 shares of AMZN. We sold 100 shares of NVDA.
Trades this week
Outlook
The portfolio finished modestly higher, but the 0.15% return did not keep pace with the benchmark's 2.31% gain. We will continue to monitor the portfolio's concentrated holdings and the effects of this week's additions to AAPL, MSFT, and AMZN alongside the reduction in NVDA.