Hedged Equity Strategy:
Q3 2025 Commentary
Q3 2025 Commentary
The third quarter of 2025 marked a turning point as the Federal Reserve (Fed) finally delivered an interest rate cut. Typically, such monetary easing broadens equity participation, but this time leadership has been narrow. Mega-cap technology, artificial intelligence (AI), and power infrastructure names once again powered the rally while cyclicals and labor-sensitive areas lagged.