Building a Small‑Cap Barbell: Balancing Quality Defensives with Convex Growth for 2026

Why a 14‑Stock Russell 2000 Sleeve Can Express Both Resilience and Upside in an Uncertain Macro Regime

Executive Summary

This article lays out a 14‑stock “Small‑Cap Barbell” built from the Russell 2000, sized as a 50% satellite allocation around a more traditional core portfolio. The barbell splits capital between a higher‑weight “core” group of durable cash‑generators with strong balance sheets and high returns on invested capital, and a lower‑weight “op…