Saturday, August 22, 2026

QNTM Week Wrap — Week Ended Friday, August 22, 2026

QNTM's model portfolio (50 holdings) returned +0.7% this week versus SPY's -0.9%, a ~1.6-point edge. The broad tape struggled: major indexes were poised to register weekly declines for the first time since late July , pressured early by renewed concerns that the US-Iran war could reignite , which pushed oil and long-end Treasury yields higher (WTI closed near $87).

What drove it: Health care was the standout sector after Moderna and Merck said its mRNA treatment was successful in its late-stage clinical trial, sending the Health Care index up more than 4% on the week — QNTM's quality/momentum overlap in that group added the bulk of relative gains. On the downside, consumer discretionary names lagged as Nike shares traded at lows not seen since September 2014 , weighing on the model's smaller retail sleeve.

Macro backdrop: QNTM flipped to RISK_OFF for the Aug 22 session, flagging tariff and war-escalation triggers alongside firmer oil and rising long-term yields. Conviction across the 1,422-name universe sits at a neutral 50.1, with only 3.8% of stocks scoring "high conviction" — a narrow, cautious signal set consistent with the defensive tilt.

Next week: July PCE inflation and Nvidia earnings land Wednesday, followed by the Fed's Jackson Hole symposium, kicking off Thursday with new Chair Kevin Warsh speaking Friday — a likely volatility catalyst.

Research/education only — not investment advice.