Category: Q1 2025

For 1Q, the Bank Sector Strategy returned -3.83% (gross of fees) and -3.99% (net of fees) vs. the Russell 2000® Value Bank Subsector benchmark of -5.47%.  Additional performance can be found in the table below. Data as of 3/31/2025 The first quarter was highlighted by “hope but not a lot of action” as the bank regulatory…

U.S. equity markets declined in the first quarter, pressured by a mix of policy shifts and increasing market uncertainty. The new presidential administration announced tariffs targeting Canada, Mexico, and China, some of which were implemented, while others were delayed or rolled back. The shifting nature of these actions introduced uncertainty around import costs and supply…

U.S. equity markets declined in the first quarter, pressured by a mix of policy shifts and increasing market uncertainty. The new presidential administration announced tariffs targeting Canada, Mexico, and China, some of which were implemented, while others were delayed or rolled back. The shifting nature of these actions introduced uncertainty around import costs and supply…

The Russell 2500™ Index declined 7.5% in the first quarter of 2025, as economic and geopolitical uncertainties weighed on investor and corporate sentiment.   Except for Utilities (+8.37%), every benchmark sector declined in the quarter.  Information Technology (down 16.58%) and Consumer Discretionary (down 11.77%) came under the most pressure during Q1. In our discussions with management teams,…

The Russell 2500™ Index declined 7.5% in the first quarter of 2025, as economic and geopolitical uncertainties weighed on investor and corporate sentiment.   Except for Utilities (8.37%), every benchmark sector declined in the quarter.  Information Technology (down 16.58%) and Consumer Discretionary (down 11.77%) came under the most pressure during Q1. In our discussions with management teams,…

The Market: U.S. small caps declined in the first quarter, pressured by a mix of policy shifts and market uncertainty. The new presidential administration announced tariffs targeting Canada, Mexico, and China— some of which were implemented, while others were delayed or rolled back. The shifting nature of these actions introduced uncertainty around import costs and…

The Market: U.S. small caps declined in the first quarter, pressured by a mix of policy shifts and market uncertainty. The new presidential administration announced tariffs targeting Canada, Mexico, and China— some of which were implemented, while others were delayed or rolled back. The shifting nature of these actions introduced uncertainty around import costs and…

Market Review The Russell Microcap® Index declined 14.39% in the first quarter of 2025, as uncertainty regarding policy changes planned or enacted by the Trump administration resulted in increased cautiousness from investors and corporate decision makers.  The Information Technology sector was the worst performer in the index during Q1, declining 27.07%.  The best performing sector was…

Market Review The Russell Microcap® Index declined 14.39% in the first quarter of 2025, as uncertainty regarding policy changes planned or enacted by the Trump administration resulted in increased cautiousness from investors and corporate decision makers.  The Information Technology sector was the worst performer in the index during Q1, declining 27.07%.  The best-performing sector was Utilities,…

Equity markets were weaker during the 1st quarter of 2025.  The Russell Midcap® Value (RMV) Index fell 2.11%.  Large caps outperformed small caps over the three-month period, with the Russell 1000® Index down 4.49%, compared to the Russell 2000® Index down 9.48%.  The Kennedy Capital Mid Cap Value (MCV) composite returned -3.95% (gross of fees) and…

Equity markets were weaker during the 1st quarter of 2025.  The Russell 2500™ Value (R25V) Index fell 5.83%, and the Russell 2500™ Growth (R2G) Index declined 10.80%.  Large caps outperformed small caps over the three-month period, with the Russell 1000® Index down 4.49%, compared to the Russell 2000® Index down 9.48%. The Kennedy Capital Smid Cap…

Equity markets were weaker during the 1st quarter of 2025.  The Russell 2000® Value (R2V) Index fell 7.74%, and the Russell 2000® Growth (R2G) Index declined 11.12%.  Large caps outperformed small caps over the three-month period, with the Russell 1000® Index down 4.49%, compared to the Russell 2000® Index down 9.48%.  The Kennedy Capital Small Cap…