Please stay tuned for important disclosure information at the conclusion of this episode.

Welcome to Investing Insights. I'm your host, Ivan Hampton.

Morningstar's 2026 Global Investment Outlook is offering investors' tactics to weather whatever the future may hold,

and the next episode in our series is focusing on finding opportunities in a concentrated market.

Here's a question. Is your portfolio making a big bet on the Magnificent 7?

MegaCAP names like Nvidia, Alphabet, and Apple belong to the exclusive club

that has largely driven U.S. returns higher in recent years, and their success has led to market

concentration. Portfolios tracking broad benchmarks have seen their diversification decrease

and risk increase. How can you prepare your

portfolio to absorb potential shocks? And where are the opportunities beyond the MAG 7?

Morningstar Holland's chief European market strategist, Michael Field is one of the researchers

who has investigated this.

Thanks for joining me, Michael.

Thanks, Savannah, for having me back.

Well, the Magnificent Seven Strong Returns have benefited many investors.

Why is their dominance or risk?

Yeah, it's a funny thing to be questioning why we're getting such good returns.

But I think the problem is if we become over-reliant on the returns from these seven companies.

Your team highlighted a noteworthy stat in the report.

The top 10 U.S. stocks make up about 35% of the overall market. That's almost double

from a decade ago. What does that signal to you? So I think you hit the nail on the head there.

It's not just that it's 35% and growing. It's the fact that it's risen so quickly is slightly

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