Market Review & Macro Observations Impacts on Performance Portfolio Changes Opportunities & Looking Forward [1] https://www.bea.gov/data/personal-consumption-expenditures-price-index-excluding-food-and-energy [2] https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20251210.pdf [3] https://www.wlwt.com/article/us-employment-rate-september/69488439 [4] https://www.atlantafed.org/research-and-data/data/gdpnow/archive-of-past-gdpnow-commentaries [5]https://www.cnbc.com/amp/2025/12/10/fed-meeting-today-live-updates.html [6] https://www.fidelity.com/learning-center/trading-investing/the-fed-meeting

Market Review & Macro Observations Impacts on Performance Top Contributors: Top Detractors: Portfolio Changes Opportunities & Looking Forward

Market Review & Macro Observations Impacts on Performance Portfolio Changes Opportunities & Looking Forward [1] https://www.needhamfunds.com/growth-factor/the-tariff-tantrum-and-opportunities/

Market Review & Macro Observations Impacts on Portfolio Performance Portfolio Changes Opportunities & Looking Forward

Market Review & Macro Observations Impacts on Portfolio Performance Portfolio Changes Opportunities & Looking Forward

MARKET REVIEW & MACRO OBSERVATIONS In 3Q24, the Russell 3000 returned 6.23%, the Russell Midcap Growth returned 6.54%, and the S&P MidCap 400 returned 6.94% with positive contributions from most sectors. For the year-to-date ended September 30, the Russell 3000 returned 20.63%, the Russell Midcap Growth returned 12.91%, and the S&P MidCap 400 returned 13.54%. […]

MARKET REVIEW & MACRO OBSERVATIONS In 2Q24, the S&P MidCap 400 declined -3.45%, the Russell MidCap Growth declined -3.21%, and the Russell 3000 increased 3.22%. The Russell 3000 provides exposure to the largest 3,000 U.S.-listed companies. Effective June 30, mutual funds are required by the SEC to issue Tailored Shareholder Reports (TSR). As part of […]

MARKET REVIEW & MACRO OBSERVATIONS In 1Q24 the S&P 500 returned 10.56%, the S&P MidCap 400 returned 9.95%, and the Russell 2000 returned 5.18%. Inflation in January and February was over 3.0%, above the Federal Reserve’s 2.0% target.1 Expectations for GDP growth increased slightly in 1Q24. At the beginning of the year, the Atlanta Fed’s […]

MARKET REVIEW & MACRO OBSERVATIONS In 4Q23, the S&P MidCap 400 returned 11.67%, the Russell 2000 returned 14.03%, and the S&P 500 returned 11.69%. In September, the Federal Reserve indicated the possibility of one more rate increase in 20231, and the markets were weak in October. Markets rallied after the November Fed meeting when rates […]

MARKET REVIEW In 3Q23, the S&P 500 Index lost 3.27%, the S&P MidCap 400 lost 4.20%, and the Russell 2000 lost 5.13%. In July, the Federal Reserve raised interest rates 25 bps to 5.25% – 5.50% and then paused in September. The Fed indicates that there could be one more rate increase in 2023.1 10-year […]