NEWPORT BEACH, CA, April 23, 2026 /24-7PressRelease/ -- On April 21, 2026, CIO Dr. Alyce Su was invited to a private, invitation-only investor luncheon hosted by Markets Group in partnership with Harbor Capital Advisors and Quantix Commodities LP, where a select circle of billion-dollar institutional allocators gathered to discuss the renewed strategic importance of commodities in today's evolving market landscape. Quantix Commodities LP ("Quantix") is a boutique firm founded and led by former senior Goldman Sachs commodities professionals, including CIO Don Casturo, a former Partner and Global Commodities COO at Goldman Sachs, and it specializes in commodities-based investment strategies, including those managed for Harbor Capital Advisors. The presenter, Daniel Cole, Partner at Quantix Commodities LP, and Dr. Alyce Su both held investment roles at Goldman Sachs Asset Management (GSAM).

The timing was not incidental.

Recent instability tied to the Strait of Hormuz, a critical artery for roughly a fifth (~ 20%) of the world's oil supply, has reignited concerns about energy shocks, inflation persistence, and the fragility of global supply chains. For investors, these developments are more than headlines; they are catalysts reshaping portfolio construction.

From Headlines to Holdings

Much of the conversation focused on the Harbor Commodity All-Weather Strategy ETF (HGER), a rules-based vehicle designed to track the Quantix Commodity Index. In an environment where inflation and interest rate volatility are pressuring traditional asset classes, the fund has gained attention for its structured, systematic approach to commodities exposure.

Instead of relying on discretionary bets, the strategy employs a quantitative framework that evaluates commodities through two primary lenses: their sensitivity to inflation and the cost of maintaining futures positions. This approach produces a portfolio that can shift dynamically across energy, agriculture, and metals as conditions evolve.

That adaptability resonated with investors, particularly amid recent oil market volatility driven by geopolitical tensions. As Dr. Alyce Su noted during the discussion, when a critical chokepoint like Hormuz is in play, energy exposure moves beyond a simple sector allocation – it becomes a broader macroeconomic risk factor.

Energy, Inflation, and Diversification

A recurring theme was the dual role commodities can play: as both a hedge against inflation and a tool for diversification. With meaningful exposure to petroleum and precious metals, the ETF is positioned to respond to multiple inflation drivers – from supply disruptions in energy markets to currency-related pressures.

Portfolio managers also emphasized the strategy's ability to shift with conditions – leaning into industrial commodities during supply constraints while increasing exposure to gold and similar assets when currency values come under pressure. In today's environment, that distinction matters more than ever.

Dr. Alyce Su's Portfolio Positioning - 2026 April 22:

Strategic

1. Portfolio construction – We favor a scenario-based approach as we gain clarity on AI winners and losers. We lean on private markets and hedge funds to generate idiosyncratic returns and help anchor portfolios amid powerful structural trends.

2. Infrastructure equity and private credit – Infrastructure equity valuations appear attractive, supported by strong structural demand tied to major secular forces. We remain constructive on private credit but expect increasing dispersion, underscoring the importance of careful manager selection.

3. Beyond market-cap benchmarks – We take a more granular approach in public markets. We favor developed market government bonds outside the U.S. Within equities, we prefer emerging markets over developed markets, while remaining selective in both. In emerging markets, we favor India, which sits at the intersection of key structural trends. In developed markets, we see opportunity in Japan, where mild inflation and corporate reforms are improving the outlook.

Tactical

1. Favor AI beneficiaries – We prefer physical infrastructure and equipment supporting the AI buildout—such as semiconductors, power, and data center assets—which we believe can benefit regardless of ultimate winners. The AI theme is also supporting U.S. corporate earnings, reinforcing our overweight to U.S. equities.

2. Select international exposures – We favor hard-currency emerging market debt, supported by improved economic resilience, disciplined fiscal and monetary policies, and strong representation of commodity exporters. We also see opportunities in emerging market equities, particularly among commodity exporters and AI beneficiaries. In Europe, we favor infrastructure-related equity sectors.

3. Evolving diversifiers – We recommend identifying alternative "Plan B" hedges, as long-dated U.S. Treasuries may no longer provide the same level of portfolio ballast. We view gold as a tactical allocation with idiosyncratic drivers, though its reliability as a diversifier may be diminishing as market dynamics evolve.

About Dr. Alyce Su
Dr. Alyce Su, PhD, CFA, CAIA, is Chief Investment Officer of a Global Family Office and a Board Director. A seasoned investment executive with nearly 30 years of experience at leading firms including PIMCO, Goldman Sachs, UBS, and McKinsey, Alyce oversees multibillion-dollar institutional portfolios and is recognized for her strategic investment acumen and macroeconomic insight.

Dr. Alyce Su's book China 2010 is also ranked No. 1 in financial engineering on Amazon.
https://www.amazon.com/stores/Alyce-Su/author/B0GF84TJLR

A global family office and private investment firm with a long-term, multigenerational perspective. The office manages a broad and diversified portfolio with a global scope, emphasizing long-term wealth preservation, tax efficiency, and strategic asset allocation across traditional and alternative investments. Led by Dr. Alyce Su, PhD, CFA, CAIA, who has served as Chief Investment Officer since 2020, the office oversees a comprehensive investment strategy across fixed income, equities, bank CDs, and alternatives – including global real estate and private markets. Dr. Su integrates rigorous quantitative analysis with forward-looking macroeconomic perspectives to construct portfolios that align with the family's goals for capital appreciation, risk-adjusted returns, and tax-efficient estate planning. Capabilities and Focus Areas include: (1) Multi-asset class portfolio construction with a focus on risk management, generational wealth planning, and tax optimization (2) Oversight of trusts and estate vehicles to ensure intergenerational continuity and philanthropic alignment (3) Allocation to alternative investments including global real estate and opportunistic private markets (4) Integration of institutional-grade investment processes within a highly customized family office framework. Strategic Philosophy: The office adopts a disciplined, research-driven investment approach, blending institutional expertise with the flexibility and discretion of a family office. The investment philosophy reflects a commitment to active management, macroeconomic insight, and long-term capital stewardship.

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