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August 5, 2025By Julie Biel, CFA and Ben A. Falcone, CFA

Quarterly Stock Market Commentary for Q2 2025

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Julie Biel, CFA
Chief Market Strategist, Portfolio Manager, and Senior Research Analyst
Ben A. Falcone, CFA
Managing Director, Client Portfolio Manager

Every quarter, our portfolio managers and research analysts provide in-depth analysis and insightful stock market commentary, analyzing performance, and discussing the latest trends and behaviors impacting the market.

At KAR, we offer high-conviction investment strategies focusing on quality businesses within the small cap, mid cap, large cap, and international asset classes.

In our Q2 2025 discussion roundup, you’ll find individual recaps of several of our actively managed strategies, all recorded in our podcast, KayneCast. By subscribing to KayneCast, you’ll be automatically notified when future updates become available, ensuring you’ll always stay informed and up to date on our investment strategies.

You can read the full Q2 2025 market review or revisit our past quarterly market review podcast episodes:

To learn more about KAR’s investment management services, contact our team today.

Q2 2025 Stock Market Recap

In our 2Q 2025 podcast, Julie Biel, Chief Market Strategist, shares her perspective on the market’s sharp rebound, driven by investor enthusiasm for generative AI and a more measured tone on tariffs from the administration. She discusses how growing uncertainty around tariffs has prompted many companies to scale back capital expenditures. Her insights offer a timely look at how policy signals and emerging technologies are shaping market behavior and investor sentiment.

KAR Contributors: Julie Biel, Ben Falcone

Listen to the full discussion in episode 287 of KayneCast or read the complete Q2 2025 Market Review Summary.

Q1 2025 Strategy Review

Episode 288: Meeting the Bar – For Now
KAR Small Mid Cap Core
Contributors: Julie Kutasov, Ben Falcone

Episode 289: Too Early to Tell 
KAR Small Cap Quality Value Core
Contributors: Julie Kutasov, Ben Falcone

Episode 290: Never a Dull Moment
KAR Mid Cap Sustainable Growth
Contributors: Chris Armbruster, Ben Falcone

Episode 291: Making Cents of the Weakening Dollar
KAR International Small Cap
Contributors: Hyung Kim, Ben Falcone

Episode 292: The Low Quality Storm
KAR Mid Cap Core
Contributors: Jon Christensen, Ben Falcone

Episode 293: A Moving Target
KAR Small Cap Core
Contributors: Jon Christensen, Ben Falcone

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KARCast is the official podcast series of KAR. This material is provided as a matter of general information and is not intended to be relied upon as a forecast or research. The opinions expressed herein are those of the speakers and are not necessarily the opinions of KAR or its affiliates, are current as of the date and time of the recording, and are subject to change at any time due to changes in market or economic conditions. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by KAR to be reliable and are not necessarily all inclusive. KAR does not guarantee the accuracy or completeness of this information. Any securities included in this podcast are based on objective, non-performance based criteria and such mentions should not be considered a recommendation to purchase or sell the securities mentioned. This podcast should not be construed as an offer or solicitation to purchase or sell any security. KAR’s strategies may not be suitable or appropriate for all investors depending on their specific investment objectives and financial situation. Potential investors should always consult with their own financial professional before determining whether to invest in a particular investment or investment strategy. Reliance upon information in this material is at the sole discretion of the listener. To the extent any performance is discussed, past performance is not indicative of future results.