Top Performing Investments November 2025 - January 2026: Three-Month Analysis

Market Shift: Technology's Dominance Ends

The three months ending January 2026 marked a turning point as technology dropped 9.9% whilst materials surged 32.5% and energy rallied 39%. Investors finally pushed back against massive AI spending programmes, triggering a sector rotation toward commodities, quality stocks, and European banks.

Three-Month Performance Highlights

Sector Winners:

• Materials: +32.5% (strategic metals funds)

• Energy: +39% (uranium and critical minerals)

• European Banks: +17.5%

• Healthcare: +3.8%

• Consumer Staples: +3.5%

Technology Decline:

• Tech sector: -9.9%

• Software companies hit hardest

• Microsoft, Amazon, Alphabet spending concerns

Top Performing Investments by Sector

Materials: Strategic Metals Lead (+32.5%)

• Aberdeen Future Raw Materials ETF: +32.5%

• iShares Copper Miners ETF: +32.0%

• VanEck S&P Global Mining ETF: +28.6%

Copper prices soared on data centre demand, whilst rare earth minerals benefited from resource nationalism.

Energy: Uranium Rally (+39%)

• Alkemy Capital Investments: +39.0%

• New City Geiger Counter: +31.7%

• WisdomTree Strategic Metals: +28.4%

Trump's Venezuela and Iran interventions pushed oil up $10 per barrel.

Healthcare: Recovery Underway (+40%)

• Seneca Growth Capital VCT: +40.0%

• Intuitive Investments Group: +25.3%

• Bellevue Healthcare Trust: +9.8%

Early-stage healthcare companies led gains as policy uncertainty eased.

Financials: European Banks Extend Rally (+17.5%)

• iShares STOXX Europe 600 Banks: +17.5% (three months), +170.5% (3 years)

• Strong earnings growth of 11.2% in 2024

• Higher dividends and buybacks

Industrials: Defence and Space (+24.3%)

• VanEck Space Innovators ETF: +24.3%

• Defence ETFs: +6.8-11.3%

• €2bn Rheinmetall-ICEYE contract signals real spending

Consumer Staples: Quality Comeback (+5.6%)

• US consumer staples ETFs: +5.4-5.6%

• Walmart became $1 trillion company

• Lower inflation supported the sector

Key Investment Themes

Resource Nationalism: Trump's aggressive foreign policy drove commodity prices higher

Quality Stock Revival: Healthcare and consumer staples attracted defensive capital

Dollar Weakness: 3% decline supported precious metals and safe-haven flows

Banking Renaissance: European banks extended three-year rally on strong fundamentals

Tech Rethink: Only two 'Magnificent Seven' stocks beat S&P 500 in 2025

2026 Investment Outlook

Markets signal potential shifts toward:

• Geographic diversification beyond US

• Sector rotation from tech to quality and value

• Small cap opportunities

• Commodity exposure amid resource competition

• Defensive positioning