Global equities began the quarter on solid footing but subsequently reversed course amid concerns surrounding the software sector, driven in part by new AI developments from Anthropic.
During the quarter, the largest contributions came from the materials and energy sectors, as oil prices broke above $100 per barrel.
The portfolio's largest detractors were in the financials sector due to concerns about economic weakness, as well as in the health care sector.
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Global equities began the quarter on solid footing but subsequently reversed course amid concerns surrounding the software sector, driven in part by new AI developments from Anthropic (ANTHRO). These concerns, coupled with an escalating conflict
