Quarterly Market Environment
Q2 2026 Q1 2026
Facts and Figures
We believe that all investment decisions should be rooted in a thorough understanding of the capital markets. Robertson Stephens’ “Market Facts and Figures” highlights performance information and trends that developed during the quarter. Q2 2026
Market Microscopes
We believe that informed investment decisions benefit from a thoughtful understanding of the capital markets. The Robertson Stephens “Market Microscope” uses data, statistics, and other relevant information to provide context and perspective on a range of market topics—from foundational concepts, such as market indices, to more complex subjects, including investor behavior. Q2 2026
The Script Changes: A Critical Two Weeks Ahead – October 19, 2026
Good morning, Recall last week’s setup: inflation versus earnings. Unfortunately, inflation won. But what followed the hotter-than-expected CPI report was a surprising departure from the script. The dominant theme across equity markets was a sharp selloff in AI-related technology. The Nasdaq 100 fell 5.5%, while the Philadelphia Semiconductor Index (SOX) plunged 11.4%. It was a […]
Earnings Take Center Stage as Inflation Looms – October 12, 2026
Good morning, Last week was mixed and uneven, with the S&P 500 gaining 1.17%. On Tuesday, the index recorded its first all-time closing high since August, fueled by renewed optimism surrounding AI-related capital spending. The rally proved short-lived, however, as reports that OpenAI might miss its revenue targets weighed on technology shares. By Friday, all […]
September 2026 Monthly Markets Update
Executive Summary The third quarter combined solid economic and corporate fundamentals with renewed pressure from oil and interest rates. Oil traded back above $100 per barrel, inflation remained elevated, Treasury yields surged higher, and the Federal Reserve raised rates in September. The S&P 500 traded higher and set a new all-time high as corporate earnings […]
Small Cap Q3 2026 Commentary
Strong Fundamentals Hidden by Continued Volatility We gained almost 7% on the index this quarter, cutting into the deficit from the first half of the year. After an incredible 2025 and continued strong long-term performance, this year has been volatile and challenging. In our view, however, the most important takeaway is that our core companies […]
Review / Forecast — Rising Rates vs. AI – October 5, 2026
Good morning, Starting today, I am going to shift the cadence and scope of my Morning Notes to once per week—on the first day of the week—with a review of the prior week combined with a look ahead to the next. Think of it as a Review / Forecast format. With volatility as low as […]
From AI infrastructure to GLP-1 Drugs, Here Are Investment Pros’ Favorite Niche ETFs Now
Stuart Katz, Chief Investment Officer at Robertson Stephens, was featured in Barron’s, where he shares his perspective on two long-term investment themes—quantum computing and U.S. infrastructure—and strategies that offer exposure to their continued evolution. Click here to read more.
Small Cap Performance
Below are the calendar year and annualized returns for our small cap composite portfolio. Ending 9/30/2026 QTD 1 Year 3 Year 5 Year Inception3 Small Cap Composite1,2 -0.8% -0.7% +27.1% +14.0% +21.1% Russell 2000 Index -7.2% +16.2% +17.7% +6.3% +9.4% Performance quoted represents past performance. Past performance is no guarantee of future results.1 Net of […]
Experts Explain 6 of the Best Assets to Inherit (and Pass on to Loved Ones)
Mallon FitzPatrick, Head of Wealth Planning at Robertson Stephens, was featured in Money Talks News. Click here to read more.
Private placement life insurance draws ultra-wealthy interest
Mallon FitzPatrick, Head of Wealth Planning at Robertson Stephens, was featured in InvestmentNews, where he shares his perspective on growing interest in Private Placement Life Insurance (PPLI) and how ultra-high-net-worth families use the strategy for tax-efficient investing and long-term estate planning. Click here to read more.