QAV America Light Update — 19 October 2026

Happy Monday (Australian time), QAV America.

And welcome to all of our new members.

Market This Week (S&P 500)

The S&P 500 fell 1.95% over the five trading sessions to Friday 16 October 2026, closing at 7,659.44. Oil is still a problem, bonds are still a problem, and who knows what the mid-terms will bring.

All the best, Cameron

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PORTFOLIO UPDATE

For All Time, our QAV America Light portfolio is at +8.86% against the S&P 500 at +11.35%, 2.49 percentage points behind the market.

What moved in our US Light portfolio this week

DAC (Danaos): -6.5% over one week. They went ex-div on Oct 13, so that might have something to do with the drop. Danaos declared $6 per share: a $1 regular dividend plus a $5 special dividend. DAC closed at $169.09 on 9 October and $158.17 on 16 October, a 6.5% price fall. For a holder entitled to the $6 payment on 22 October, the change in share value plus that dividend entitlement was about −2.9% over the week.

GSL (Global Ship Lease): -7.3% over one week. Shipping shares sold off broadly during the week, including GSL. I found no clear negative GSL announcement behind its fall. Its 12 October announcement was a financing facility for new ships, and the sharp decline came later in the week.

SHG (Shinhan Financial): -6.9% over one week. A clear company event: Shinhan agreed on 13 October to buy 77.04% of Lotte Non-Life Insurance for ₩693.3 billion. Its Korean shares fell 4.71% on 14 October; contemporaneous reporting points to concern about the insurer’s capital needs and the effect on Shinhan’s capital ratio.

KSS (Kohl’s): +6.1% over one week. No clear contemporaneous company-specific reason found.

CRGY (Crescent Energy): +10% on Friday. The strongest supported explanation is the oil and energy rally: crude rose roughly 3% and the energy sector about 2% that Friday, while CRGY rose 10.1%. Crescent had disclosed financing details for its Devon asset purchase earlier in the week, but I found no evidence that this filing specifically caused Friday’s extra-large gain.

Drill down into the widget above to see different timeframes, or visit our live portfolio page.

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SELLS

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BUYS

And here’s my TikTok of the week.

** Please remember to review our Buying Guidelines to understand which cap bands you should be looking at and other important considerations. DISCLOSURE

Please review our trading and disclosure policy. FOR NEW MEMBERS

If you’re new to QAV Light, here’s a quick reminder on how it works.

1. We send you an email every Monday advising which stocks we are adding to our Light portfolio.
2. You can copy our trades, but please remember to review our Trading Guidelines to understand which cap you should be looking at and other important considerations. And consult a financial planner before making any decisions.
3. We don’t recommend that you add stocks which are already in our portfolio. Their position on our buy list might have changed since we recommended them. Just start with the stocks recommended after you become a member.
4. If one of the stocks we add breaches one of our sell conditions, we will sell it from our portfolio and you’ll get an email advising of the trade. Again, you can copy our trades, but seek financial advice before making any decisions. And please check your Rule #1 price (see Trading Guidelines).
5. If you come across any QAV terminology that you don’t understand (eg Rule 1, 3PTL, Possibles, etc), please review our terminology guide or just email us for clarification.

That’s it for today!

If we decide to buy or sell something, we’ll let you know.

Got a question? cameron@qavamerica.com

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