qfx

So, Vision One’s new love affair with Powell Industries is now public. They own 4.5% of their reported U.S. equity holdings, which totals $158.9 million. That’s like if your friend spent half their paycheck on a single vintage toaster from a flea market and then called it an “investment strategy.” The SEC filing reads like a grocery list written by someone who forgot to cross off the bread. Still, the math checks out: 23,591 shares at $282.05 per share equals roughly the cost of a mid-sized yacht, if yachts were made of circuit breakers.

According to a filing with Her Majesty’s (or rather, Uncle Sam’s) Securities and Exchange Commission, the fund’s third-quarter activities resembled a particularly decisive garden party guest list purge. Where once ACVA occupied a place of honor as the third-largest holding among ten equities, it now lingers only as a ghost at the feast-a memory draped in the faint melancholy of unmet earnings expectations. The shares, sold at a price of $6.64 apiece, had spent the preceding year tumbling like a clumsy acrobat from a tightrope, shedding 68.93% of their value with all the grace of a wet weekend in Brighton.

In this grand act of economic despair, relief appeared-an elixir conjured by the federal government: stimulus checks, those fleeting tokens of mercy handed to the humble and mollified middle classes. Three installments-March 2020, December 2020, and March 2021-each more a gesture than a solution, served as a cast of extras attempting to revive an ailing economy. These moments-particularly the initial two-unfolded under President Donald Trump’s watchpiece, a spectacle of audacity playing out at the close of his first act.

As revealed through the filings-an act conducted, naturally, with the languid indifference of those who believe themselves immune to markets’ capricious whims-Yunqi has, during the last quarter, quietly divested itself of all claims upon Futu, the sum closing at a market price of $153.79 on the very day the curtain fell. One suspects that behind this ready dismissal lies not mere prudence, but a subtle disdain for a partner who might have outgrown its débutante status and now seeks to claim the spotlight under a different guise.