Global markets delivered mixed results in Q1 2026, with international equities generally outperforming the US for much of the period.
In Q1, the portfolio outperformed the MSCI All Country World Index, as the benchmark posted a negative absolute return.
Activity during the quarter was centered on adding to areas where we see durable long-term demand, while also taking advantage of stock-specific opportunities created by market volatility.
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Investing Environment
Global markets delivered mixed results in Q1 2026, with international equities generally outperforming the US for much of the period. Early optimism was supported by easing inflation in parts of Europe and growing confidence that
