With the full impacted of tariffs uncertain, investors are aiming to mitigate risk by focusing on defensive sectors and U.S. small caps.

Amid the barrage of headlines, it’s tempting to react to every juke the market throws at you. Where should you focus instead? Start with these three trends.

Highlights from the week of February 7 – February 13, 2025.

Most of small cap revenues come from within the United States, making them less vulnerable to trade wars.

Enterprise values of private and public companies are correlated but their movements over time are caused by different factors.

Screening for high levels of excess capital is a good starting point for finding winners—but persistent stock picking comes from fundamental analysis to identify companies that best use their dry powder.

China’s DeepSeek breakthrough shocked the markets, but some in the AI industry took it in stride. When you peek under the hood, there’s plenty of good news.

​​Recent liquidity events related to portfolio companies in which PIF invests through its private equity holdings​.

Inflation is cooling, the economy is resilient and starting yields offer a cushion against further rate volatility—there’s a lot to like about fixed income in 2025.

America’s economy is riding high into the new year, lifting investor expectations skyward. Our panel discusses what could propel (or derail) markets in 2025.