Epoch 9 — strategic adds amid volatility

Epoch card

Executive summary

• Vault headline assets rose about $195.63 (+1.95% vs opening NAV). Share price moved +1.95% on the published epoch accounting.
• Oracle sleeve move (perps: Δ unrealised P&L; spot: notional; cash excluded): MU +$26 vs USAR −$3.
• Net flows this week: +$803.71 (deposits vs withdrawals).
• Liquidity / wallets: routine multisig → Hyperliquid buffer cadence; merged ledger shows no extra wallet hop worth calling out beyond the standard rails (see appendix).

Operator desk note

The week of 8–14 June was marked by extreme two-way volatility. A sharp correction that had begun on Friday 5 June looked set to continue on the NASDAQ, especially among at-risk AI-linked names — then on Thursday 11 June, Trump’s announcement of a draft definitive US–Iran agreement sent US indices sharply higher, with tech and the NASDAQ leading the rebound.

During the week the Volta book adapted with several adjustments. We added at-risk sleeves to participate in the rebound and seek performance:

AI memory & photonics. We positioned on Micron (MU) and Lumentum (LITE).

Software & diversifiers. We added Palantir (PLTR) for software exposure.

Gold. We reinforced Gold after a sharp pullback in precious metals over recent weeks.

Quantum. We added Quantinuum (QNT) for additional quantum exposure.

Aerospace. In parallel with the SpaceX IPO narrative, we added Tesla (TSLA) and Rocket Lab (RKLB) to increase aerospace exposure.

The speed of the rebound meant we could not deploy as much cash as we initially wanted. We will therefore look for bearish retracements in coming days to add further to selected names.

Performance

Over 2026-06-08 → 2026-06-15, net share price printed low 1.007999 and high 1.035094. Max drawdown from a running high was about 1.13%, comparatively shallow air-pockets. Volatility showed up in the band: low to high spanned ~2.66% versus week-open net PPS. Net PPS closed well above week open (≈ +1.53%), headline bullish drift on this measure. Open Performance in the app for the same net PPS basis with full zoom.

What drove the week

From week-open to week-end oracle snaps (cash sleeves excluded; perps: Δ unrealised P&L; spot: notional), sleeve-level marks moved most in favour of MU +$26 and most against USAR −$3. Other listed names on the same basis moved: SEMIS +$21, LITE +$18, WTIOIL +$16, QNT +$9, XYZ100 +$8, GOLD +$4, CRCL −$3, RKLB +$2, PLTR −$1, and TSLA +$1. Short exposure showed up on WTIOIL while the rest of the book stayed mostly long.

Allocation by asset class & gross exposure

The clearest sleeve moves vs week open are Cash −10.6 pp, Equities +6.9 pp, and Indices & ETFs +3.1 pp. Gross exposure (deployed notional / NAV) moved from 20.3% to 30.9% of NAV. (+9.0 pp on gross exposure vs prior week-end). Same asset-class bands as Allocations (History tab); figures are % of vault NAV.

Listed clips: Hyperliquid

Time (UTC)	Instrument	Side	Size	Price	Fee	Realised close P&L
2026-06-09 16:05:16	SEMIS	Open Long	0.1850	572.3000	USDH 0.0091	-
2026-06-09 16:06:25	XYZ100	Open Long	0.0028	28620.0000	USDC 0.0069	-
2026-06-09 17:20:37	MU	Open Long	0.1680	902.0800	USDC 0.0131	-
2026-06-09 17:21:26	LITE	Open Long	0.0860	819.2300	USDC 0.0061	-
2026-06-10 16:09:39	PLTR	Open Long	1.1400	132.1700	USDC 0.0130	-
2026-06-11 09:45:10	GOLD	Open Long	0.0170	4093.2000	USDC 0.0601	-
2026-06-11 09:49:43	QNT	Open Long	1.9100	52.4538	USDC 0.0087	-
2026-06-11 14:12:28	USENERGY	Settlement	1.7100	58.3440	USDH 0.0000	-0.6908
2026-06-12 14:34:42	RKLB	Open Long	1.4100	106.7000	USDC 0.0130	-
2026-06-12 14:34:53	RKLB	Close Long	1.4100	106.7700	USDC 0.0130	0.0987
2026-06-12 14:35:10	RKLB	Open Long	1.4100	106.8021	USDC 0.0130	-
2026-06-14 21:57:30	TSLA	Open Long	0.3670	409.4200	USDC 0.0130	-
2026-06-15 09:07:46	WTIOIL	Close Short	1.2740	78.7345	USDC 0.0087	23.2779
2026-06-15 09:13:24	CRCL	Open Long	0.7620	82.5820	USDC 0.0054	-
2026-06-15 09:14:04	USAR	Open Long	1.8900	23.2410	USDC 0.0038	-

Realised P&L on closes (what Hyperliquid books when a position is closed):

• WTIOIL +$23, about +23.21% vs the dollar size of that trade (size × price)
• USENERGY −$1, about -0.69% vs the dollar size of that trade (size × price)
• RKLB +$0, about +0.07% vs the dollar size of that trade (size × price)

Total from these closes: about +$23, or about +0.23% of the vault’s opening NAV for the week. Trading fees on those fills are not subtracted here.

GET https://api.volta90.trade/transactions/VLT90/epoch/9/timeline?full=true
GET https://api.volta90.trade/oracle/VLT90/epochs
GET https://api.volta90.trade/oracle/VLT90/snapshots?sort=asc&limit=1000&from=[epoch-open]&to=[epoch-close]
POST GraphQL PeriodSummary (vault week anchor; indexer endpoint in volta ops docs)