Don’t Disdain Diversification

A long-term average is a calculation that takes place over a longer period of time than a short-term average, and uses more data points to provide a more accurate representation of a trend. The S&P 500 or Standard & Poor’s 500 Index is a market-capitalization-weighted index of the 500 largest U.S. publicly traded companies. The Magnificent 7 Index tracks the performance of the seven leading, high-performing technology companies in the United States, often including Apple, Microsoft, Amazon, Alphabet, Meta Platforms, Nvidia, and Tesla. The S&P 500 Top 10 Index consists of 10 of the largest companies from the S&P 500. The S&P 500 Top 50 consists of 50 of the largest companies from the S&P 500, reflecting U.S. mega-cap performance. The S&P 100, a sub-set of the S&P 500®, measures the performance of 100 large-cap companies in the United States. The S&P 500 Equal Weight Index is a stock index that gives equal weight to each company in the S&P 500, rather than being weighted by market capitalization. References to indices, or other measures of relative market performance over a specified period of time are provided for informational purposes only. Reference to an index does not imply that any account will achieve returns, volatility or other results similar to that index. The composition of an index may not reflect the manner in which a portfolio is constructed in relation to expected or achieved returns, portfolio guidelines, restrictions, sectors, correlations, concentrations, volatility or tracking error targets, all of which are subject to change. It is not possible to invest directly in an index. Information obtained from third party sources is believed reliable but has not been vetted by the firm or its personnel.

This commentary is written by Horizon Investments’ asset management team. Past performance is not indicative of future results. Nothing contained herein should be construed as an offer to sell or the solicitation of an offer to buy any security. This report does not attempt to examine all the facts and circumstances that may be relevant to any company, industry, or security mentioned herein. We are not soliciting any action based on this document. It is for the general information of clients of Horizon Investments, LLC (“Horizon”). This document does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Before acting on any analysis, advice, or recommendation in this document, clients should consider whether the security in question is suitable for their particular circumstances and, if necessary, seek professional advice. Investors may realize losses on any investments. Asset allocation cannot eliminate the risk of fluctuating prices and uncertain returns. All investing involves the risk of loss.

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