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July 31, 2026
Emerging Markets Monthly Update

Emerging Markets July 2026: The Strategy underperformed in a risk-off July, hurt by weakness in IT and industrials across South Korea and Taiwan that offset strength in India.

July 31, 2026
Large Cap Growth Monthly Update

Large Cap Growth July 2026: The Strategy outperformed due to its differentiated exposure and strong selection in a month that saw momentum stocks sell off.

June 30, 2026
Balancing AI Momentum with Regional Exposures

Emerging Markets 2Q26: We are managing concentration risk through allocations to China and India while maintaining dedicated exposure to secular AI growth trends.

June 30, 2026
Narrow Market Full of Overlooked Value

Dividend Strategy 2Q26: With record market concentration despite uncertainty introduced by profound technological change, diversification is paramount.

June 30, 2026
Adding Risk on Our Terms

Canadian Equity Strategy 2Q26: Portfolio activity focused on adding to high-quality businesses pressured by AI, rate and cyclical concerns while exiting positions where valuation support or relative opportunity had moderated.

June 30, 2026
Finding Value Beyond the AI Rally

Global Value Improvers 2Q26: A strong global equity rebound masked uneven leadership, creating opportunities in companies tied to energy security, grid modernization and industrial capex.

June 30, 2026
Social Media Safeguards in Focus for Mega Caps

Large Cap Growth ESG 2Q26: Active stewardship on youth safety, content moderation and disclosure can help assess whether social media platforms are managing emerging legal, reputational and operational risks effectively.

June 30, 2026
Lofty Multiples Leave Little Room for Error

Appreciation ESG 2Q26: Animal spirits remain elevated, with momentum stocks increasingly held by a more levered investor base at valuations leaving little margin for error.

June 30, 2026
Keeping Discipline in a Momentum Market

Small Cap 2Q26: Small caps rebounded sharply in the second quarter, but concentrated AI- and momentum-led leadership challenged a diversified, risk-aware approach.

Blogs

AOR Update: A Broader Market Is Finding its Footing
Earnings delivery and market leadership are continuing to broaden out to a larger group of market constituents.
Beyond Silicon Valley: Where AI Value Is Really Created
Many companies supplying scarce, high demand AI infrastructure are based in emerging markets, creating a differentiated route into AI growth through scale, consolidation and pricing power.
The Physical Limits of AI: Where Scarcity Is Creating Opportunity
AI demand is turning global supply constraints across chips, wafers, networking and optical infrastructure into pricing power for key suppliers.
Midyear Outlook: Earnings Buoy Case for International Equities
Earnings revisions outside the U.S., particularly in emerging markets, have moved materially higher, with earnings momentum often a key driver of sustained market outperformance.
Orbit Shift: Sizing Up SpaceX and Mega IPOs
The company’s differentiated launch advantage makes SpaceX look less like an traditional aerospace contractor and more like today’s dominant platform companies when they were still defined by a single breakthrough capability.