2025 Sees Strong Returns Across Markets Despite geopolitical risks, tariff concerns, inflation pressures, a government shutdown, and labor market softness, equities delivered strong gains in 2025. Leadership broadened as international markets led performance alongside mega-cap strength, AI-related optimism, and interest rate cuts. The S&P 500 Index gained roughly 18% for the year, marking its third consecutive year of double-digit gains, while recording 39 all-time highs. Not

Dear Clients, I wanted to take a moment to wish you and your families a happy and healthy holiday season . It has been a pleasure working with you this past year, and we are grateful for the trust you continue to place in us. 2025 was an important  year of progress for Astoria, and I wanted to highlight a few notable firm enhancements. We expanded headcount in several key areas. Bruce Lavine joined us as Chief Operating Officer  and now leads our ETF division . Will Pham join