2026 market themes have been shaped by geopolitical realignment, the physical demands of artificial intelligence and changing assumptions about diversification. Across markets, investors are confronting several plausible futures rather than relying on a single base case.

Host Oscar Pulido is joined by Stevie Manns, producer of The Bid, to revisit conversations with BlackRock leaders and external guests. Together, they connect insights on geopolitics, retirement, AI infrastructure, market concentration, portfolio construction, Asia, digital assets and tokenization.

The discussion explores how these subjects form a broader story about preparation. Listeners will hear why AI investing increasingly involves energy and physical infrastructure, how concentration is changing the character of major equity indexes, and why a more dynamic and granular approach may be relevant as capital markets evolve.

Key insights:

· How geopolitical shifts are influencing markets, supply chains and economic policy

· Why AI investing depends on power, data centers and infrastructure

· How stock market concentration can affect diversification assumptions

· Why portfolio construction may require multiple scenarios

· Where Asia and digital assets are broadening the opportunity set

· How tokenization could reduce friction in financial markets

Episodes featured:

246: Macro and Geopolitical Outlook - Live from Davos

248: Retirement Realities: Ask Me Anything With Jaime Magyera

250: Powering AI 2.0: Why The AI Boom is becoming an Energy Story

257: Beyond The Magnificent Seven: Discovering Equity Opportunities in the S&P 493

258: Portfolio Construction for A Changing World: Adapting to A Market Regime Shift

259: Cryptoassets At A Crossroad: Volatility, Adoption and Changing Market Perspectives

261: Why Are Global Investors Looking To Asia As An Investment Destination

264: Is Tokenization The Next Evolution of Financial Market Infrastructure

266: Midyear Outlook: Scarcity vs Abundance in The Age of AI

268: AI's Latest Frontiers: An Investor's Perspective on Space, AI and Equity Opportunities

2026 market themes, AI investing, portfolio construction, capital markets, digital assets, tokenization, geopolitics

This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.

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269: The Biggest Themes of 2026 So Far: How AI, Geopolitics and Digital Assets Are Reshaping Portfolios

The Bid - An Investing Podcast from BlackRock

269: The Biggest Themes of 2026 So Far: How AI, Geopolitics and Digital Assets Are Reshaping Portfolios