Alphixir Weekly Review · Aug 10–14, 2026

WhatThe week of August 10–14, 2026 stayed firmly in Risk-On territory from open to close, with our regime score drifting from 52.8 on Monday down to a midweek trough of 36.8 on Tuesday before recovering to 51.3 by Friday. Despite the Tuesday dip, the regime never left the Risk-On band, and equities held a constructive tone through the stretch. SPY posted a +0.40% week, a modest but positive baseline against which all four AI personas measured themselves. Leadership was uneven: semiconductor and memory names carried the upside, while software and select consumer-discretionary names lagged. Energy quietly emerged as a standout, with several oil-and-gas exposures logging mid-to-high single-digit gains. Netflix was the single largest contributor across our books, while Salesforce was the largest detractor. The dispersion between winners and losers was wide enough that stock selection, not beta, decided the week.

WhyThe catalysts behind the week were rotational rather than macro-shattering. The Tuesday regime dip to 36.8 reflected a brief risk wobble, but it faded quickly and did not trigger a regime change, suggesting the pullback was profit-taking rather than a durable shift in sentiment. Memory and semiconductor equipment names appear to have benefited from continued AI-infrastructure demand narratives, which lifted the likes of LRCX and MU sharply. Energy strength lined up with firmer commodity tape, rewarding COP, MPC, and CVX exposures. On the downside, software multiples came under pressure, with CRM weak across multiple books, and mega-cap consumer and platform names such as META, AMZN, and HD giving back ground. The takeaway is that this was a selection-driven, sector-dispersed week within a stable Risk-On regime, not a directional macro move. No single headline dominated; instead, rotation into cyclicals and semis and out of high-multiple software set the tone.

So WhatMeridian, our Core book, navigated the week best on a risk-adjusted basis, delivering +0.76% TWR for +0.36% alpha over SPY with a shallow -0.19% MDD and a 57% hit-rate — evidence that its diversified, balanced-weight approach absorbed the software drag while participating in semi strength via TSM and NVDA. Sentinel, the Conservative book, extracted +0.24% alpha from small, disciplined energy and defense tilts (COP, MPC, LMT), proving that low single-digit weights in the right names can still move the needle without stretching the risk budget. Regent, the Sector Champion, captured +0.28% alpha by leaning into energy and Netflix, though it paid for concentrated consumer-discretionary exposure in HD and AMZN. Maverick, the Aggressive book, was the lone underperformer at +0.07% negative alpha and a 41% hit-rate — its big winners (LRCX +8.24%, NFLX +5.32%, MU +6.17%) were offset by concentrated losses in META, CRM, and INTC and the widest drawdown at -0.68%. Across the group we executed 270 buys/adds and 336 sells/trims with 12 sector shifts, tilting toward semis and energy. The lesson of the week: in a stable Risk-On regime, position sizing discipline separated the steady books from the volatile one.