Tim Holland, CIO at Orion, remains bullish into year-end, pointing to strong earnings momentum, favorable seasonality and improving market breadth. He sees the AI CapEx and data center buildout continuing despite political and regulatory risks, while warning that a sharp spending slowdown could challenge earnings, valuations and large-cap tech. Holland also favors diversification through core fixed income, small caps, real assets and alternatives as higher yields create more opportunities outside of tech.