February 29, 2024
Commentary: NCM Core Global and NCM Core International
Portfolio Manager Phil D'Iorio, MBA, CFA provides insight into the narrow breadth and market concentration in the S&P 500.
![](https://www.ncminvestments.com/images/backgrounds/Core-Commentary.jpg?w=1920&h=1080&auto=compress%2Cformat&fit=crop&dm=1663321939&s=7f32f32207d9cee0a2a47576bc42f4b2)
"We don’t believe that there is anything unusual about the returns generated by the Magnificent Seven when taken in a historical context."
Download the full commentary here.
Author
![Profile](https://www.ncminvestments.com/images/profile/PHIL_WEBSITE.jpg?w=320&h=400&auto=compress%2Cformat&fit=crop&dm=1717526890&s=f9cfec3c6fbb3a0c5c9bec06e3c55e3c)
Phil D'Iorio, MBA, CFA
I search around the globe for best-of-breed companies trading at attractive valuations. And I spend a significant amount of time thinking about portfolio construction to ensure that the portfolio is optimized to reflect where we are in the cycle.