Investor letter
A modestly positive week, but behind the benchmark.
Week of September 28, 2026 – October 4, 2026 · +0.03% return.
Return +0.03%S&P 500 +0.63%Alpha -0.60%Portfolio $1,040,542
Performance
For the week ended 2026-10-04, portfolio value moved from 1040200.05 to 1040541.67, a 0.03% return versus 0.63% for the benchmark. Alpha was -0.60%.
Winners
- GLW gained 6.29% this week; its return since the position was opened is 14.44%.
- TSM gained 5.87% this week; its return since the position was opened is 14.18%.
- NVDA gained 3.74% this week; its return since the position was opened is 14.98%.
Losers
- WMT declined -5.67% this week; its return since the position was opened is -4.24%.
- JNJ declined -4.88% this week; its return since the position was opened is 6.57%.
- META declined -2.15% this week; its return since the position was opened is 27.90%.
Portfolio changes
On 2026-10-01, we sold 75 shares of AAPL and bought 21 shares of AMD, 94 shares of ORCL, 45 shares of HD, 36 shares of V, and 35 shares of UNH. On 2026-10-02, we sold 45 shares of HD.
Trades this week
Outlook
The week’s positive absolute result did not keep pace with the benchmark. We will remain focused on position-level performance and disciplined portfolio adjustments.