Investor letter
Weekly letter: the portfolio declined and trailed the benchmark.
Week of August 10, 2026 – August 16, 2026 · -1.37% return.
Return -1.37%S&P 500 +0.47%Alpha -1.84%Portfolio $1,031,341
Performance
For the week of 2026-08-10 to 2026-08-16, portfolio value moved from 1045707.11 to 1031341.38, a -1.37% return versus the benchmark's 0.47%, for -1.84% alpha.
Winners
- NVDA rose 2.71% this week; it is up 10.64% since the position was opened.
- MSFT gained 1.63% this week; it is up 20.01% since the position was opened.
- JNJ advanced 1.07% this week; it is up 8.94% since the position was opened.
Losers
- GOOGL declined -4.56% this week; it is down -1.95% since the position was opened.
- HD fell -4.04% this week; it is up 3.70% since the position was opened.
- AMZN declined -3.67% this week; it is up 9.23% since the position was opened.
Portfolio changes
On 2026-08-12, the fund sold 75 shares of AAPL.
Trades this week
Outlook
This was a difficult week, with the portfolio declining while the benchmark advanced. We remain focused on position-level results and disciplined portfolio management.