From the Guest Editor: A Season to Reset and Refocus

September is one of the few times of year when a change in the calendar can genuinely change the pace of life. With young kids, I’m now back in the true back-to-school chaos of new schedules and early-morning sprints. But even before kids, and long after I left school myself, I’ve always found September to be a natural time to reset, as the slower pace of summer gives way to more structure.

The current climate of geopolitical unrest, trade tensions, and rapid technological change provides no shortage of reasons for discomfort. I find that focusing my energy on the things I can control helps turn some of that nervous energy into action, making the last quarter of the year a natural time to take stock of our personal lives, refresh our priorities, and look ahead to the months to come.

Against that backdrop, one welcome development this year has been the continued strength of equity markets. While strong returns are certainly welcome, they also warrant a measured approach. Part of our job as your investment manager is to help maintain perspective during periods of strong performance and ensure that we do not lose sight of the fact that markets can move quickly in both directions, which makes maintaining discipline around portfolio construction and rebalancing particularly important.

We fundamentally believe that keeping portfolio turnover low is important to help maximize long-term gains, but portfolio rebalancing is an important part of risk management. This is especially true given the strength of markets so far in 2026. Quick, large gains across many positions mean that we have spent more time than usual keeping both position sizes and asset allocation in check. Sometimes, this can mean selling investments with substantial unrealized gains, creating realized gains and in turn, a higher-than-typical tax bill.

That makes the final months of the year an especially useful time to look at your portfolio and your broader tax picture together. There may be opportunities to be intentional about how charitable giving and other planning strategies can fit into the overall picture. Taking a little time now to review your portfolio, anticipate the tax consequences of a strong investment year, and put your charitable intentions into action can make for a much smoother finish to the year.

For those considering a Donor-Advised Fund (DAF) or who already have one in place, now is the time to put charitable giving on the Q4 planning calendar. September is a great time to establish a DAF, contribute to an existing DAF, or begin identifying the organizations and causes you would like to support before year-end. If you are hoping to make charitable donations before the end of December, starting the process now can help ensure there is sufficient time to complete any necessary paperwork or asset transfers. We strongly advise against trying to complete these tasks in December, as completion before the end of the year cannot be guaranteed.

With all that’s going on in the world right now, you may be wondering what the investment team at Nexus is focused on right now. Part of the reason that I love this job is that regardless of what’s happening around us, the answer to that question doesn’t change. Our focus, as always, is on the things that matter most to you: maintaining the right portfolio, managing risk thoughtfully, and making the most of available opportunities.

With that in mind, we’ve put together another issue with a range of perspectives and practical insights. Here’s what you’ll find in this issue of Nexus Notes: Harsh Narsinghani’s thoughts on why index funds may not be as passive or diversified as they seem; Kathleen Peace’s look at the financial considerations that can arise during a divorce, and Devin Crago’s reflections on the rare privilege of long-term compounding.