As Tech Dominates, Consider A Counter to Concentration Risk

Equities across investor portfolios have consistently reached all-time highs in 2025 and concentration among the largest public companies remains extreme. In light of the many uncertainties in the market, diversification away from broad growth and tech stocks may become even more critical.

With its focus on quality and attractive valuations independent of style or sector, Morningstar’s moat investing philosophy offers investors a proven, contrarian approach that provides a high-conviction complement to core equity allocations. Hear directly from Morningstar’s equity research team for their perspective on market trends and the companies they cover. We’ll highlight: