Elevage Partners

08/31/2026

Concentration rarely announces itself as risk. Sometimes, it simply feels like keeping up.

AI. Chips. Data centers. Energy. Different companies, different investments, but increasingly, the same underlying bet.

In the final installment of our diversification series, Chief Investment Officer Thierry Hasse looks at how easily a portfolio can become concentrated around today’s winning story, and why genuine diversification doesn’t require knowing what comes next.

𝘠𝘰𝘶 𝘥𝘰𝘯’𝘵 𝘩𝘢𝘷𝘦 𝘵𝘰 𝘱𝘳𝘦𝘥𝘪𝘤𝘵 𝘵𝘩𝘦 𝘧𝘶𝘵𝘶𝘳𝘦 𝘵𝘰 𝘣𝘦 𝘳𝘦𝘢𝘥𝘺 𝘧𝘰𝘳 𝘪𝘵.

Read Thierry’s latest:

By Thierry Hasse, Chief Investment Officer Elevage Partners | August 31, 2026 Part 4 of 4 | The Diversification Series Almost no one decides to bet their future on a single idea. But it can happen unintentionally, one reasonable decision at a time. You read that artificial intelligence is remaking t...

08/26/2026

You can own 30 different stocks and still be making essentially one bet.

That’s the distinction our Chief Investment Officer, Thierry Hasse, explores in Part 3 of our diversification series.

True diversification isn’t simply about how many investments you own. It’s about how many 𝐝𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐭 𝐟𝐨𝐫𝐜𝐞𝐬 those investments depend upon—and whether one outcome has too much power over the success of your portfolio.

That matters especially today, when a relatively small group of companies carries an unusually large share of the S&P 500.
Thierry explains what diversification by design looks like—and why the purpose of the portfolio should come before the investments inside it.

𝐃𝐢𝐯𝐞𝐫𝐬𝐢𝐟𝐢𝐞𝐝 𝐛𝐲 𝐃𝐞𝐬𝐢𝐠𝐧, 𝐍𝐨𝐭 𝐛𝐲 𝐀𝐜𝐜𝐢𝐝𝐞𝐧𝐭:

By Thierry Hasse, Chief Investment Officer Elevage Partners | August 25, 2026 Part 3 of 4 | The Diversification Series Last week we showed that 10 companies now carry roughly 41% of the S&P 500’s weight, the most concentrated the index has been in more than 50 years (Source: RBC Wealth Management,...

07/28/2026

For months, the market's biggest worries took turns. 𝐋𝐚𝐬𝐭 𝐰𝐞𝐞𝐤, 𝐭𝐡𝐞𝐲 𝐚𝐫𝐫𝐢𝐯𝐞𝐝 𝐭𝐨𝐠𝐞𝐭𝐡𝐞𝐫.

That's an important distinction.

When multiple pressures begin compounding at the same time, the questions investors should be asking begin to change.

CIO Thierry Hasse explores what shifted—and what we're watching next:

By Thierry Hasse, Chief Investment Officer Elevage Partners | July 28, 2026 Last week we asked whether the AI selloff was a decline or a reallocation. Then two of the market’s largest companies reported, and the answer was less comforting than either: the market’s worries have stopped taking tur...

07/13/2026

The ceasefire ended.
Oil spiked.
And then the market… 𝐬𝐡𝐫𝐮𝐠𝐠𝐞𝐝.

CIO Thierry Hasse looks at what investors may be recalibrating, and why this uncomfortable equilibrium could be becoming the new normal.

By Thierry Hasse, Chief Investment Officer Elevage Partners | July 13, 2026 The Market’s Shrug The ceasefire ended Tuesday. President Donald Trump said so himself, then backed it with two nights of strikes that hit roughly 170 targets across Iran, while Tehran fired on U.S. bases in Bahrain and Ku...

06/23/2026

We mark the wedding.

We gather for the funeral.

But the years that follow are often traveled in solitude.

On International Widows Day, we recognize the women navigating one of life's most profound transitions — and honor the resilience, determination, and hope that carry them forward.

06/03/2026

In 1915, there were 26 million horses in America.
Nobody thought they were about to become obsolete.

What if AI isn't creating a new economy?
What if it's doing what the tractor did?

This week's article asks a simple question: Are we the horse... or the analyst?

Curious? Read more of the story here:

By Jeff Powell, CEO Elevage Partners | June 1, 2026 In 1915, nobody was worried about horses. There were 26 million of them. They powered the farms, moved the freight and kept the cities running. The system worked. Then it didn’t. By 1960, the count had dropped to about three million. The ones tha...

05/14/2026

Most people treat their tax return like a receipt.
File it. Store it. Forget it.

But what if your return is actually one of the clearest planning documents you’ll receive all year?

In this week’s article, Jeff Powell explores how tax returns can reveal planning opportunities tied to 𝐑𝐨𝐭𝐡 𝐜𝐨𝐧𝐯𝐞𝐫𝐬𝐢𝐨𝐧𝐬, 𝐜𝐚𝐩𝐢𝐭𝐚𝐥 𝐠𝐚𝐢𝐧𝐬, 𝐫𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐢𝐧𝐜𝐨𝐦𝐞, 𝐚𝐧𝐝 𝐟𝐮𝐭𝐮𝐫𝐞 𝐭𝐚𝐱 𝐟𝐥𝐞𝐱𝐢𝐛𝐢𝐥𝐢𝐭𝐲 long before next April arrives.

The question isn’t what last year’s return says.
It’s what it’s telling you to change next.

Read more here: https://elevagepartners.com/what-april-just-told-you/

At Elevage Partners, we anticipate—we prepare

Your tax return is a planning document. Most people don’t read it that way. By Jeff Powell, CEO Elevage Partners | May 12, 2026 The clients who get the most out of tax season are the ones who don’t treat it as the end of something. For most people, April 15 is a finish line. […]

04/14/2026

If something happened tomorrow…
what would you not be able to access?

It’s probably not what you think.

This is one of the most overlooked risks we see.

More here:

By Lori Powell, President Elevage Partners | April 12, 2026 It usually doesn’t start with the first try. It starts with what comes next. A bill that needs to be paid. A credit card that doesn’t go through. A login screen asking for a password you don’t have and never needed before. And suddenl...

03/31/2026

You already know oil is up. You felt it at the pump.
The question is what you do next with your investments, and right now, the most common answer is also the most expensive one.

Our CEO, Jeff Powell, wrote this week about why market stress that shows up in your daily life: the grocery bill, the utility notice, the gas receipt, triggers a very specific and very human impulse to act. And why that impulse, however understandable, tends to work against you.

It’s a short read. If you’ve been having this conversation at your own kitchen table, it’s worth a few minutes.

READ: The Most Expensive Conversation at Your Kitchen Table → https://elevagepartners.com/the-most-expensive-conversation-at-your-kitchen-table/

Elevage Partners is a fee-only, fiduciary advisory firm. No commissions. No products to sell. Just independent guidance built around what matters most to you.

By Jeff Powell, CEO Elevage Partners | March 31, 2026 You felt it before you opened a single account statement. The number on the gas pump. The grocery bill that runs higher than it should. The utility company’s notice sitting on the counter. Four weeks into the U.S.-Israeli conflict with Iran, th...

03/09/2026

Markets traded erratically today as investors reacted to rapidly changing headlines surrounding developments in the Middle East.

When global events move this quickly, it’s natural for investors to pause and consider how the news may intersect with financial markets and their investment portfolios.

Earlier today we published a commentary reflecting on these real-world moments when lead stories shift suddenly and 𝘤𝘢𝘶𝘴𝘦 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴' 𝘲𝘶𝘦𝘴𝘵𝘪𝘰𝘯𝘴 𝘵𝘰 𝘤𝘩𝘢𝘯𝘨𝘦. You can read it here:
https://elevagepartners.com/war-in-the-middle-east-what-it-means-for-your-portfolio/

At Elevage Partners, we anticipate—we prepare.

By Thierry Hasse, Chief Investment Officer Elevage Partners | March 9, 2026 As March is unfolding, the questions on investors’ minds are not the questions they were asking in February. A month ago, the conversation in markets was about the adoption of artificial intelligence, the timing of Federal...