Page 471 - DCAC February 2024 Files

Nonprofit Spotlight: WellPower

Innovest provides investment advice to many nonprofit organizations,
and every month, we are honored to introduce you to one of our
clients. This month, we are excited to feature WellPower.
WellPower, the largest community mental health center in Colorado,
provides treatment, prevention, and crisis services to over 20,000
individuals at hospitals, assisted living centers, schools, shelters, and
other locations. In addition, they reach 40,000 – 50,000 more people
through outreach and community trainings. The organization was
established in 1989 to serve the City and County of Denver and has
since grown to nearly 1,000 staff members. WellPower stands behind
the truth that treatment works and recovery is possible. WellPower’s
mission statement is enriching lives and minds by focusing on
strengths and well-being.

WellPower wants to see Colorado thrive. They believe that they can
and must change the landscape of behavioral health. WellPower
has seen adults recover to live a more fulfilling life, children become
more resilient, and families grow stronger foundations and healthier
relationships through this work. To get involved with this mission, you
can donate your time, talent, and skills by volunteering, contribute
fiscally, join the community to share your personal experiences, or
give other ways.

Equity Market Concentration and the AI

Revolution

Steven Fraley, CFA, MBA Brett Minnick, CFA
Principal, Director Vice President

The Rise of Market Giants nearly 65% of S&P 500 returns, through July, from just ~28% of the S&P

Equity market concentration has been a topic of growing concern 500 Index. This means that most of the other 493 stocks in the index are
as seven mega cap tech giants, Apple, Microsoft, Amazon, Nvidia, generally underperforming. A large driving factor of strong performance
Alphabet, Meta Platforms, and Tesla, have dominated the global stock so far in 2023 has been the latest boom in artificial intelligence,
market. There has been so much hype around these companies that bolstering the success of these high-growth stocks.
they have commonly been referred to as the “Magnificent Seven,” the Impact on Diversification
largest U.S. companies by market capitalization. Why does this matter and why should investors care if the market is

The performance of these stocks has been predominant, contributing concentrated? Many indices are market capitalization-weighted,

4 / FALL 2023 FALL 2023 / 5