Barometer: Analyzing 1Q portfolio trends

Advisors entered 2026 with a constructive but selective stance, and Q1 reinforced that approach. Portfolios leaned more toward active management, global diversification, and larger-cap stocks, while international equities continued to gain ground even amid geopolitical tension and a stronger dollar.

Risk exposure stayed measured rather than defensive. Beta moved back toward normal levels, while duration increased in fixed income as advisors looked for income and flexibility without fully matching benchmark risk. Credit remained balanced, but there was a clear tilt toward structured credit over corporates.

Technology still anchors equity portfolios, even after some recent underperformance. At the same time, the broadening of market leadership beyond mega-cap names supported diversification benefits across regions and styles. Overall, advisor positioning suggests patience with uncertainty and confidence that these trends may continue as markets remain more fragmented.