Performance Attribution Analysis Insights

John is a portfolio manager for a wealth management firm where he oversees a balanced portfolio consisting of equities, fixed income, and alternative investments. Over the past year, John has conducted a performance attribution analysis to evaluate how much of the portfolio's return can be attributed to his investment decisions versus market movements.

In his analysis, John discovers that the portfolio outperformed its benchmark by 2% primarily due to an overweight position in technology stocks and short positions in underperforming sectors. He also notes that the market was bullish overall, which contributed to the positive performance of the portfolio.

Based on this information, which of the following statements accurately reflects the results of John's attribution analysis?