U.S. equities were mostly lower in the first quarter of 2026.
The London Company Mid Cap portfolio declined 5.0% (-5.2% net) during the quarter vs. a 1.3% increase in the Russell Midcap Index.
Both stock selection and sector exposure were headwinds to relative performance.
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Market Update
U.S. equities were mostly lower in the first quarter of 2026. The Russell 3000 declined 4%, and the S&P 500 posted its first quarterly decline in a year. The year began on a constructive note as
