The rotation towards defensive sectors is becoming increasingly evident across US markets. Over the past month (to 26th October), Utilities gained 8.4%, Consumer Staples rose 6.9% and Healthcare advanced 4.7%. Meanwhile, Technology fell 4.2%, while the S&P 500 remained broadly flat. This is a shift our portfolios have been positioning towards throughout 2026. Earlier in the year, we increased cash and defensive exposure as the cycle moved into its later stages. More recently, we've been selectively deploying capital while continuing to favour quality defensive businesses. Our focus is on capital preservation, quality and liquidity, while retaining the flexibility to pursue opportunities as they emerge. Follow @OakleighIM for more insights into markets, cycles and investment strategy.

Markets rarely do exactly what everyone expects. Despite an increasingly uncertain macro backdrop, short interest across the S&P 500 has risen sharply, with the median stock now at around 3.2% of market cap. That creates an interesting setup as we head into the final months of the year. Historically, peaks in short interest haven’t necessarily coincided with market tops. In fact, crowded short positioning can provide fuel for a rally if sentiment improves, as investors are forced to unwind bearish positions. We saw a similar build-up in short interest during the mid-2000s, before that positioning unwound as equities continued higher. With the historically stronger year-end period approaching, could we see something similar this time? The economic backdrop may be deteriorating, but positioning suggests plenty of investors are already prepared for bad news. A strong bearish consensus could ultimately set the stage for an end-of-year market rally. Follow @OakleighIM for more insights.

Is Santos (ASX: STO) entering a new phase? After years of heavy project spending, Barossa LNG and Pikka oil are now ramping up. Here’s why that matters. https://t.co/IEGizDNTfS

One of Australia's biggest home builders, Bathla, just collapsed under $3.6B in debt (up from $2.3B in 2022). 2,000 homes are stuck mid-construction. 15,000 more are on hold. Now three major lenders are limiting how much investors can withdraw from their funds. A risk to watch is: each lockup pushes more investors to pull money from other private credit funds to manage their exposure, which can trigger more lockups. It can build like a wave. Do you think the stress remains contained, or could it spread further across the sector? Follow us @OakleighIM for insights into market trends and what they could mean for portfolios.

What happens when a central bank steps in to defend its own currency? Japan has been buying yen to stop it sliding further, but that defence isn't free. It means selling US assets, pulling on Fed facilities, and sending ripples through Treasuries and global risk markets. Our latest insight breaks down the knock-on effects, from Tokyo to Wall Street.

In 2006-07, BHP rode a copper boom to record profits and growing dividends as the credit and property cycle approached its peak. Nearly 20 years later, copper is once again the key driver of BHP's earnings growth and shareholder payouts. For students of the 18-20 year real estate & banking cycle, it's an interesting rhyme: rising credit, renewed infrastructure spending, stronger resource demand, and copper reclaiming centre stage (as it always does into the cycle crescendo). #BHP #Copper #RealEstateCycle #Investing

Oakleigh is pleased to deliver another year of strong performance. The Oakleigh Multi Asset Growth Portfolio returned +18.0% for FY26 (net of investment fees and tax), outperforming every fund in Chant West's Top 10 Growth Funds, including the highest-performing fund, UniSuper Growth (+12.3%). Key contributors to performance in FY26 include international value, global gold miners, and emerging markets. This marks the third consecutive year the Portfolio has outperformed the top-performing Growth super fund. It has also outperformed the Chant West survey median return for five consecutive years, demonstrating a consistent track record of long-term performance. While Oakleigh doesn't meet Chant West's $1 billion assets under management threshold to be included in the official rankings, the comparison illustrates where the Portfolio would have ranked. Past performance is not a reliable indicator of future performance.

We're proud to announce that Oakleigh has been shortlisted as a finalist in the 2026 Institute of Managed Account Professionals (IMAP) Awards in the Boutique Licensee Managed Account category. This recognition reflects our disciplined investment philosophy, long-term focus, and commitment to delivering high-quality managed portfolio solutions for our clients. It is also a testament to the dedication of our team and the trust our clients place in us. Thank you to Centric for sponsoring this award, and congratulations to our fellow finalists. We look forward to celebrating with peers from across the industry at the IMAP Awards Ceremony in Sydney next month. A special thank you to the entire Oakleigh team for your dedication and contribution to this achievement. Oakleigh Team: @TimMoffOak, Tom Kilgariff, Lucas Wood, Melanie Moffatt, Jenn Vaughan, Hamish Young, @Phil_J_Anderson & @AkhilGPatel

We’re delighted to unveil our new-look website! To mark the occasion, we’re pleased to share the first article in our new Insights series, featuring market commentary from Lucas Wood, Associate Portfolio Manager at Oakleigh Investment Management. In this piece, Lucas examines recent banking volatility and what it could mean for the broader economy. Is recent banking volatility pointing to a broader shift in markets? Read the full article here: https://t.co/wePRk63GPS

Why are we increasing our defensive allocation while markets continue to rally? Oakleigh prioritised capital preservation over chasing the current enthusiasm for AI and semiconductor stocks. This cautious approach weighed on the Oakleigh 18.6 Strategic Investment Portfolio's quarterly results, but the portfolio remains up over 30% for the trailing 12 months. In our Q2 2026 Update, Akhil Patel (@AkhilGPatel) and Tim Moffatt (@TimMoffOak) explain our positioning and what we're watching next. Watch the full video here: https://t.co/49nlrPnvWK #Investing #Markets #RealEstateandBankingCycle