Q3 - 2025 Trade Memo: Resilience in Motion
As we head into the final stretch of 2025, the market landscape is shifting again—this time with cooling inflation, a softer labor market, and the Fed’s long-awaited rate cut. For investors, the signals are mixed, but the strategy remains clear: stay intentional, stay flexible, and stay focused on long-term opportunity.
In our Q3 2025 Trade Memo, we share the latest updates to your portfolio—why we made them, and what we’re watching next.
This quarter, we increased exposure to U.S. companies showing strong earnings and steady growth, while continuing to build on themes like artificial intelligence and cloud infrastructure. We also added a new position in global aerospace and defense, targeting long-term trends in government spending and national resilience.
To keep portfolios flexible, we added a small allocation to money markets—creating room to maneuver if volatility returns. On the income side, we reintroduced convertible bonds, offering equity-like upside while maintaining bond stability. And to hedge against ongoing uncertainty, we increased our allocation to precious metals.
Performance remained strong across all models, led by the moves we made in Q2 and supported by our ongoing tilt toward high-quality U.S. leadership and diversified alternatives.
This update reflects our Big Picture Planning approach—thoughtfully navigating short-term headlines while staying grounded in your long-term goals. Whether the path forward is smooth or bumpy, we’re planning with purpose and adjusting with clarity.
Have questions? We’re always here to talk through what’s next.
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