AI leaders basket (6 stocks, equal weight): the last 12 months
The AI leaders basket is up 6.7% over 1Y but 8.9% below its high; its 90-day change fell from +12.2% at the end of September to −5.6%. October's AI capex doubts and negative free cash flow at the platforms drove the drop. Status quo for AI leaders: challenged.
Status quo card: AI leaders basket (6 stocks, equal weight), new status quo.
Month by month
| Month | Change | 90-day | Rank | Causes |
|---|---|---|---|---|
| November 2026 (month to date) | +3.4% (z 1.1) | −5.6% | none of the surviving causes loads on it | |
| October 2026 | −8.8% (z -1.7) | −3.9% | none of the surviving causes loads on it | |
| September 2026 | +3.8% (z 0.1) | +12.2% | none of the surviving causes loads on it | |
| August 2026 | +1.5% (z -0.2) | −2.2% | none of the surviving causes loads on it | |
| July 2026 | +7.1% (z 0.5) | −0.2% | none of the surviving causes loads on it | |
| June 2026 | −10.7% (z -2.0) | +12.1% | Real-yield shock (drove: AI leaders basket lagged S&P 500 (SPY) by 9.6 pp, score 6.7) | |
| May 2026 | +4.8% (z 0.1) | +20.1% | none of the surviving causes loads on it | |
| April 2026 | +21.2% (z 2.6) | +6.0% | none of the surviving causes loads on it | |
| March 2026 | −5.0% (z -1.3) | −11.4% | none of the surviving causes loads on it | |
| February 2026 | −7.9% (z -1.9) | −8.5% | none of the surviving causes loads on it | |
| January 2026 | +1.3% (z -0.5) | −0.6% | none of the surviving causes loads on it | |
| December 2025 | −1.9% (z -0.9) | +3.1% | none of the surviving causes loads on it | |
| November 2025 | 0.0% (z -0.7) | +11.4% | none of the surviving causes loads on it |
What drove each month · All assets
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