Investor letter
Modest weekly decline, but positive relative performance versus the benchmark.
Week of September 7, 2026 – September 13, 2026 · -0.09% return.
Return -0.09%S&P 500 -0.56%Alpha +0.47%Portfolio $1,042,341
Performance
For the week ended 2026-09-13, the portfolio declined -0.09%, from 1043332.12 to 1042340.98. The benchmark returned -0.56%, producing 0.47% of alpha.
Winners
- META gained 9.31% this week; its return since the position was opened is 14.15%.
- AAPL rose 2.25% this week; its return since the position was opened is 11.41%.
- AMZN advanced 0.71% this week; its return since the position was opened is 6.62%.
Losers
- UNH fell -5.15% this week; its return since the position was opened is -6.67%.
- JNJ declined -3.50% this week; its return since the position was opened is 10.95%.
- MA fell -3.22% this week; its return since the position was opened is 17.41%.
Portfolio changes
On 2026-09-11, the fund sold 50 shares of AMZN.
Trades this week
Outlook
This was a slightly negative week in absolute terms, but the portfolio outperformed the benchmark. We will continue to monitor position-level performance and portfolio changes.