Friday, August 14, 2026

QNTM Day Wrap — August 14, 2026

The model portfolio edged up +0.08% while SPY fell -0.22%, a ~30bp outperformance day. Broad market action was choppy: the S&P 500 fell 0.19% and the Nasdaq dropped 0.43% , while the Russell 2000 gained 0.43%, and VIX eased 1.16% to 14.46 . The pullback followed a fresh S&P record above 7,800 the prior session, with July retail sales showing a decline of -0.6%, its worst reading in over a year , cooling risk appetite even as producer inflation softened to 4.7% in July from 5.5%, below the 4.9% estimate .

QNTM's 50-name book benefited from breadth away from mega-cap tech, echoing the day's small/mid-cap resilience. Single-name dispersion was sharp: Nu Holdings surged nearly 12% on a record quarter with net income above $1 billion , and Reddit jumped 10.4% on its upcoming S&P 500 inclusion — names consistent with QNTM's momentum/sentiment factors. On the drag side, Globant sank 12.6% after a disappointing quarter and Range Resources tumbled 7.3% on weak natural gas prices , pressuring energy/services exposure amid the day's tariff-broad tag (new drone-sector tariffs) and a still-hawkish Fed tone.

Conviction sat at a modest 50.3, with only 3.6% of 1,422 names high-conviction — reflecting genuine crosscurrents, not consensus. Next up: consumer sentiment data and the path toward the September Fed decision. Research/education only — not investment advice.