US equities look positioned to move materially higher near term.

From a geopolitical perspective, recent actions reflect strategic coherence and effective execution, particularly around energy access and security—a net positive for global risk and US assets.

The contrast with Europe remains stark: coordination without decisiveness. Markets ultimately allocate capital to jurisdictions that demonstrate competence, stability, and the ability to act.

Our equity exposure remains concentrated in the US, predominantly Nasdaq. While tactical opportunities may emerge elsewhere, the structural advantage remains unchanged.

Long term, value creation continues to be driven by technology, and technology remains overwhelmingly US-centric.

Bitcoin and US growth assets remain core holdings.

A Wiseguy once said "Everything else is largely noise."