Reckoning with Big Tech Today, large tech companies don’t just dominate the returns of major stock indices; they also dominate discussions about ethical uses of technology, including artificial intelligence (AI). From 2022-2025, the seven largest tech companies...

The second quarter underscored the value of Friends Fiduciary’s diversified Quaker Growth & Income (QGI) strategy as market leadership broadened beyond the artificial intelligence (AI)-driven mega-cap technology trade. For the better part of the past eighteen...

Proxy Season Close This proxy season Friends Fiduciary has continued to engage corporations to improve impacts on people and the planet. While uncertainty remains around how far the SEC will push back on shareholder rights, Friends Fiduciary and fellow faith-based and...

Unexpected Directions While Friends Fiduciary is best known for investment management, my role extends into a wide range of philanthropic services. The work is varied, meaningful, and has taken me in many unexpected directions. From time to time, Quaker meetings and...

The first half of 2025 has presented a contrast from our perspective as Quaker values investors. On the one hand, as CIO Rich Kent covers in detail, equities have largely rebounded after a steep, tariff-related dive in spring, leaving multiple segments of the market up significantly on the year. On the other, there is a sense that Quaker values are so under threat—values of equity, sustainability, integrity and peace—that swings in government and corporate policy are increasing the likelihood of long-term economic risks. 

To paraphrase country rock group Alabama’s 1985 hit, you can’t keep a good market down. The fear that gripped the markets after President Trump’s April 8th “Liberation Day” tariffs has given way to a more measured approach to trade rhetoric. This shift allowed the S&P 500 Index to appreciate +14% during the second quarter, bringing its year-to-date return to +6.2%.

During the 2024-25 proxy season we engaged over 50 companies on issues ranging from human rights in company policy and practices, equitable access to medicines, diversity within company workforces, climate financing in the banking sector, best practice in governance through separation of chair and CEO positions, climate lobbying alignment and more.

Many Friends are surprised to learn that FFC still holds deeds to several monthly meetings and other Quaker organizations. It is helpful to examine the evolution of FFC and historical Quaker attitude regarding incorporation to better understand this antiquated practice.