FICH Public Equities is a systematic, long-only investment strategy that trades exclusively within the S&P 500 universe. The algorithm evaluates relative strength every month and automatically rotates capital into the most dominant stocks, maximizing exposure to leading macro trends while completely removing human bias.
Annual Returns — Fich Strategy vs SPY
1. Macro Overview
Over the past 30 days, U.S. equity indices were mixed with a defensive rotation: the Dow Jones rose about 1.7%, the S&P 500 fell roughly 0.9%, and the Nasdaq dropped over 5%, as growth and technology weakened amid disappointing earnings reactions, elevated AI-related capital expenditure concerns, and softening semiconductor momentum.
Sector leadership favored defensives and commodity-linked cyclicals: Energy gained around 14% on rising oil, while Consumer Staples, Utilities, and Health Care rose about 9–12%. Communication Services fell over 15% and Information Technology declined about 7%, with large-cap growth significantly underperforming value.
Treasury yields eased modestly from recent highs (10-year around 4.9–5.0% after peaking near 5.3%), supporting selective interest in rate-sensitive defensives without a broad risk-on shift.
Momentum-driven positioning concentrated in Energy, Health Care, Consumer Staples, and Utilities due to sustained relative strength; equal-weighted and small-cap measures held up better than mega-cap tech.
High-duration growth and AI-exposed areas were trimmed or exited as Communication Services and Information Technology faced outflows tied to earnings misses, weaker free-cash-flow signals from hyperscalers, and doubts about near-term AI monetization; semiconductors and some big-tech names also saw momentum erosion.
Fich Monthly Returns (2012 – present)
2. Last month overview: Fich Equities vs the market
In October 2026, Fich Equities strategy returned −23.45% in October, against −0.91% for the S&P 500.
October 2026 marked the worst month in FICH Equities' history, with the strategy declining 23.45% versus a 0.91% drop in the S&P 500, amid a sharp market rotation away from technology and growth stocks.
During the November rebalancing, the algorithm responded to shifting market momentum by reducing exposure to certain technology and growth stocks while reallocating capital toward healthcare, biotechnology, and cybersecurity.
Stepping back to the year-to-date picture:
3. The portfolio at this rebalancing: bought, sold, and held
On November 3, 2026, the system closed 4 positions, opened 7 new positions and held 7 from the previous months, leaving the portfolio at roughly 1.05% cash.
The algorithm systematically closes underperforming stocks while holding positions with strong momentum.
Closed trades, return on each closed position:
New Trades
Current portfolio
Portfolio update
MU (Micron Technology) - Weight 17.44% Micron delivered record fiscal Q4 2026 results with revenue of $54.23 billion, up 379% year-over-year, and non-GAAP EPS of $33.42, beating estimates, driven by AI-related DRAM and NAND demand plus tight industry pricing. Full-year fiscal 2026 revenue reached a record $133.2 billion. The company guided fiscal Q1 2027 revenue to $61.5 billion (±$1.5 billion) with strong margins. Shares have been volatile, declining recently amid broader memory stock pressure despite the beat.
VEEV (Veeva Systems) - Weight 9.63% Veeva reported fiscal Q2 2027 revenue of $928 million, up 18% year-over-year, with GAAP operating income up 40%, and raised full-year guidance. Commercial Solutions subscription growth re-accelerated, supported by CRM migrations and AI tools like Falcon. The company secured additional top-20 biopharma clients for Vault CRM and plans an Investor Day on November 5. Next earnings are due November 25.
SNDK (SanDisk) - Weight 8.74% SanDisk beat fiscal Q1 2027 estimates with revenue of $11.03 billion, up 378% year-over-year, and non-GAAP EPS of $49.51, fueled by 61% sequential data-center growth from AI hyperscaler demand. Gross margin reached 85.1%. The company guided Q2 revenue to $12.2-12.6 billion, announced an 8-for-1 stock split effective November 19, and executed $5 billion in buybacks. Shares declined post-earnings despite the beat.
PANW (Palo Alto Networks) - Weight 8.51% Palo Alto Networks reported fiscal Q4 2026 revenue of $3.41 billion, up 34% year-over-year, with Next-Generation Security ARR at $9.10 billion, up 63%. Non-GAAP EPS was $1.02. Remaining performance obligations hit $21.2 billion. The company completed the Console acquisition and guided fiscal 2027 revenue to $14.10-14.20 billion. Next earnings are scheduled for November 18.
MPC (Marathon Petroleum) - Weight 7.35% Marathon Petroleum posted Q3 2026 adjusted EPS of $26.93, beating estimates, on revenue of $56.49 billion and adjusted EBITDA of $11.7 billion, with 100% refinery utilization. The company announced a $4.2 billion sale of Mid-Continent refineries to CVR Energy, raised its dividend 10%, and returned $3.3 billion to shareholders. Q4 throughput is guided at 2.8 million barrels per day.
CRL (Charles River Laboratories) - Weight 7.28% Charles River is set to report Q3 2026 results on November 4, with consensus expecting a revenue decline but EPS growth. Prior Q2 showed organic revenue growth of 0.1% and raised 2026 guidance due to DSA demand and manufacturing strength. Recent collaborations include virtual control groups for GLP studies and FDA/Labcorp work on abuse potential assessments. The company completed certain divestitures.
AMD (Advanced Micro Devices) - Weight 6.64% AMD reported record Q3 2026 revenue of $13.4 billion, up 45% year-over-year, with data-center revenue nearly doubling to $8.5 billion on Instinct GPUs and EPYC CPUs. Non-GAAP EPS was $2.09. The company guided Q4 revenue to approximately $17 billion (±3%). Shares rose post-earnings on strong AI demand outlook.
HPE (Hewlett Packard Enterprise) - Weight 6.40% Hewlett Packard Enterprise delivered fiscal Q3 2026 revenue of $12.21 billion, up 34% year-over-year, and record non-GAAP EPS of $1.11. Networking and Cloud & AI segments drove growth, with record AI orders. The company raised fiscal 2026 and 2027 guidance, including FY26 non-GAAP EPS of $3.75-3.85. Q4 revenue is guided at $13.9-14.8 billion.
NTAP (NetApp) - Weight 5.65% NetApp reported fiscal Q1 2027 revenue of $2.03 billion, up 30% year-over-year, beating estimates with EPS of $2.58. The company completed the PEAK:AIO acquisition to enhance AI storage and raised fiscal 2027 revenue guidance. Hybrid cloud remains the core driver, with strong free cash flow supporting buybacks and dividends. Next earnings are December 1.
CRWD (CrowdStrike) - Weight 5.60% CrowdStrike reported fiscal Q2 2027 revenue of $1.471 billion and EPS of $0.31, slightly beating estimates, with ARR at $5.84 billion, up 25%. The company announced AI security innovations, including an agent kill switch, acquisitions totaling $495 million, and partnerships like AWS and Lovable. Next earnings are expected around December 1.
ILMN (Illumina) - Weight 4.55% Illumina reported Q3 2026 revenue of $1.13 billion (or $1.17 billion excluding tariff effects), up 4.2-4.7% organically, beating on EPS of $1.44 (non-GAAP excluding refunds). Strong clinical demand and NovaSeq X placements drove results; full-year guidance was raised to $4.64-4.66 billion revenue and $5.40-5.45 EPS. Q4 is guided at $1.22-1.24 billion.
DELL (Dell Technologies) - Weight 4.46% Dell reported fiscal Q2 2027 record revenue of $47.0 billion, up 58% year-over-year, with non-GAAP EPS of $7.04. AI-optimized servers reached $16.4 billion. Full-year FY27 guidance was raised to $192 billion revenue and $25.50 non-GAAP EPS. The company highlighted a $95 billion AI backlog and partnerships like CrowdStrike for AI security.
MRNA (Moderna) - Weight 3.67% Moderna is scheduled to report Q3 2026 results on November 6, with consensus expecting a loss. Recent highlights include Phase 3 data showing a 42% risk reduction in melanoma recurrence with intismeran plus Keytruda, FDA approval of updated COVID vaccines, and filings for an mRNA flu vaccine. The company continues to navigate declining COVID sales while advancing oncology and combination shots.
MRVL (Marvell Technology) - Weight 3.02% Marvell reported fiscal Q2 2027 record revenue of $2.739 billion, up 37% year-over-year, with data-center at 79% of sales. The company guided Q3 to $3.15 billion midpoint and raised longer-term targets, including $20 billion for fiscal 2028. It announced an all-stock acquisition of Lumentum for $115 billion enterprise value to bolster AI connectivity, though shares declined on the news. Next earnings are expected late November/early December.
4. Multi-year track record
As of yesterday, that hypothetical $1,000 was worth $60,855.41 in the strategy, versus $7,639.32 in S&P 500.
Fich Equities Strategy vs. SPY - growth of $1,000 since inception (log scale).
While short-term volatility is inevitable, our focus remains unchanged: following a disciplined, data-driven investment process designed to capture long-term market opportunities without emotional bias.
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Disclaimer: Past performance is not indicative of future results. All strategy performance metrics and stated returns are net of a 0.10% commission fee per trade. For comprehensive historical data and complete execution logs, visit fich.ai.