Amid all this market uncertainty, foundations may benefit from a more integrated portfolio approach that drives better-informed decision-making. This paper outlines how even smaller, resource-constrained institutions can adopt elements of a Total Portfolio Approach by implementing three important pillars of TPA.

As we begin the second quarter of 2026, we have compiled five charts that we think highlight some of the key themes and opportunities we see in the current market environment.

Q1 was shaped by two key disruptions: AI-driven structural repricing and a geopolitical shock from the Iran conflict. With uncertainty rising and credit dispersion widening - particularly in AI-exposed sectors - we remain defensively positioned while selectively capitalizing on mispriced opportunities in short-maturity credit and Canadian duration.