January – March 2026
As we move through the first quarter of 2026, it is already shaping up to be a good reminder of how quickly markets can shift and how easy it is to get caught up in short-term headlines.
In our latest KEEN Insight, we take a closer look at what actually happened beneath the surface this quarter, where markets held up better than expected, and what opportunities may be emerging as a result.
While US stocks declined to start the year, other areas of the market were far more resilient. International equities held up better, and within the US, value stocks and small caps posted a strong start after a difficult 2025.
Geopolitical tension, particularly the conflict involving Iran, added pressure late in the quarter. As volatility picked up and oil prices moved higher, uncertainty followed.
But looking only at the headlines misses the bigger picture.
Pullbacks like this often create opportunity. Lower prices can present more attractive entry points, especially when supported by strong corporate earnings and continued innovation globally.
At the same time, areas of the market that don’t always get the spotlight, including international stocks and value segments, continue to show relative strength.
A Note On Private Credit
We also touch on private credit this quarter.
As more capital flows into the space, concerns around liquidity, transparency, and underwriting standards are becoming more relevant. It is a reminder that not all opportunities come without tradeoffs, especially in less liquid areas of the market.
Discipline Over Prediction
In our Q1 KEEN Insight, we break down what actually happened this quarter, what it means for investors, and why staying disciplined continues to matter more than trying to predict what happens next.
As always, if you’d like to talk through your portfolio or where we see potential opportunities, we’re just a reply away.
—The KEEN Capital Team
