- Q1 2026 Investment Strategy Outlook Fiduciary Management favors high-quality, discounted businesses with strong balance sheets as the Iran war disrupts energy markets and pressures cyclical holdings. It argues that housing repair and remodeling demand should recover, while AI concerns have created opportunities in Huron Consulting, Booking Holdings, and IMCD. Q1 2026 BKNG $117BHURN $2.5BIMCDY $6.5B
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