The Best Performing Stocks of 2025 (EP. 445)
Episode
56 min
Read time
2 min
Topics
Relationships, Investing, Fundraising & VC
AI-Generated Summary
Key Takeaways
- ✓Technology Stock Performance: Sandisk, Western Digital, Micron, and Seagate Technologies led S&P 500 gains in 2025, up 130-600%, as AI infrastructure demand drove pick-and-shovel semiconductor companies to outperform despite being legacy tech firms from the dot-com era.
- ✓International Small Cap Surge: DFA international small cap value funds returned 48% in 2025 versus 10% for US counterparts, marking the widest performance spread since 2008 data began, with developed markets outperforming US small caps by 27 percentage points during the year.
- ✓Private Credit Expansion: Private credit firms including KKR, Blue Owl, and Sixth Street purchased $136 billion in consumer debt in 2025, up from $10 billion in 2024, a 14x increase as they moved into riskier credit cards and buy-now-pay-later loans.
- ✓Retirement Plan Success: 90 million Americans now participate in 401(k) plans versus 10 million in traditional pensions, up from 30 million pension participants at peak, proving defined contribution plans expanded retirement savings access despite critics predicting failure when pensions disappeared.
What It Covers
Michael and Ben analyze 2025's best and worst performing S&P 500 stocks, discuss the explosive growth of private credit and family offices, examine retirement spending patterns, and evaluate whether 401(k) plans successfully replaced traditional pensions.
Key Questions Answered
- •Technology Stock Performance: Sandisk, Western Digital, Micron, and Seagate Technologies led S&P 500 gains in 2025, up 130-600%, as AI infrastructure demand drove pick-and-shovel semiconductor companies to outperform despite being legacy tech firms from the dot-com era.
- •International Small Cap Surge: DFA international small cap value funds returned 48% in 2025 versus 10% for US counterparts, marking the widest performance spread since 2008 data began, with developed markets outperforming US small caps by 27 percentage points during the year.
- •Private Credit Expansion: Private credit firms including KKR, Blue Owl, and Sixth Street purchased $136 billion in consumer debt in 2025, up from $10 billion in 2024, a 14x increase as they moved into riskier credit cards and buy-now-pay-later loans.
- •Retirement Plan Success: 90 million Americans now participate in 401(k) plans versus 10 million in traditional pensions, up from 30 million pension participants at peak, proving defined contribution plans expanded retirement savings access despite critics predicting failure when pensions disappeared.
Notable Moment
Silver surged 170% in 2025 while gold gained 70%, with Newmont becoming the only gold mining company in the S&P 500 after years of consolidation, leaving analysts struggling to explain why silver outperformed during a technology boom.
Episode Transcript
Today's episode is sponsored by TradePMR. As a financial advisor, you're always looking for ways to strengthen client relationships and demonstrate value. At TradePMR, that's our focus too. That's why TradePMR has launched the Asset Match program, which we believe is an industry first program designed to offer your clients a benefit once exclusive to retail customers. Through March 31, we're offering a 50 basis point match on all eligible client deposits into their TradePMR accounts. Asset match provides tangible value to your clients will notice and is another example of how TradePMR supports independent advisers. To learn more, please visit the link in the show notes. TradePMR Inc member FINRA SIPC securities offered through TradePMR Inc. Trade PMR Inc is a wholly owned subsidiary of Robinhood Markets Inc. Please review the full terms and conditions at the link in the show notes for complete rules, requirements, and obligations that apply to participation in this program. Welcome to Animal Spirits, a show about markets, life, and investing. Join Michael Batnick and Ben Carlson as they talk about what they're reading, writing, and watching. All opinions expressed by Michael and Ben are solely their own opinion and do not reflect the opinion of Brit Holt Wealth Management. This podcast is for informational purposes only and should not be relied upon for any investment decisions. Clients of Brit Holt Wealth Management may maintain positions in the securities discussed in this podcast. Welcome to Animal Spirits. Michael and Ben. It is Saturday, 02:30. Thank you to Big John for hopping on. This is the only time that worked for me because I'm with my family down in, Disney. This might be our first weekend recording ever, and this actually worked out for me too because the big thing we do with my family every year in the holidays is we go bowling. We're a bowling family. It's just a tradition. Like, once a year? Or Around the the Christmas break, we try to go bowling, but we we've always just bowling has just been a thing with my family. No. No. None of us are really good. I feel like I feel like you're a good bowler. I was just gonna say none of us are really good bowlers, but I just, man, I just bowled 220 plus games. For me, that's that's really good. So Oh, 120 plus. Yeah. I I scored over a 120 in two games in a row. So Do you know that I took do you know that I took a I took a I took a college, I took a bowling class in college. Really? This might shock you. This might shock you. It was at a community college. And, yes. Yes. I got That sounds like a lot of fun to me, actually. I I I think bowling is just it's an undefeated family activity. The kids love it. The adults love it. So there's literally a bowling alley across the street from my office. So …
Get the full transcript (11,243 words) + summary by email — free
One-time email with the complete transcript and AI summary of this episode. No account needed.
One email, no spam. We’ll also show you what SignalCast does.
You just read a 3-minute summary of a 53-minute episode.
Get Animal Spirits summarized like this every Monday — plus up to 2 more podcasts, free.
Pick Your Podcasts — FreeKeep Reading
Books, tools, and gear mentioned in this episode
SignalCast may earn commission on purchases via these links.
Tools
“SPONSORS: TradePMR”
by DFA
“DFA international small cap value funds returned 48% in 2025 versus 10% for US counterparts, marking the widest performance spread since 2008 data began.”
company
“Sandisk, Western Digital, Micron, and Seagate Technologies led S&P 500 gains in 2025, up 130-600%, as AI infrastructure demand drove pick-and-shovel semiconductor companies to outperform.”
“Private credit firms including KKR, Blue Owl, and Sixth Street purchased $136 billion in consumer debt in 2025.”
“SPONSORS: Fidelity”
“Sandisk, Western Digital, Micron, and Seagate Technologies led S&P 500 gains in 2025, up 130-600%, as AI infrastructure demand drove pick-and-shovel semiconductor companies to outperform.”
“Sandisk, Western Digital, Micron, and Seagate Technologies led S&P 500 gains in 2025, up 130-600%, as AI infrastructure demand drove pick-and-shovel semiconductor companies to outperform.”
“Private credit firms including KKR, Blue Owl, and Sixth Street purchased $136 billion in consumer debt in 2025.”
“Private credit firms including KKR, Blue Owl, and Sixth Street purchased $136 billion in consumer debt in 2025.”
“Sandisk, Western Digital, Micron, and Seagate Technologies led S&P 500 gains in 2025, up 130-600%, as AI infrastructure demand drove pick-and-shovel semiconductor companies to outperform.”
More from Animal Spirits
We summarize every new episode. Want them in your inbox?
Similar Episodes
Related episodes from other podcasts
Investing for Beginners
Sep 7
The First Metric Every Investor Must Check Before Buying
Bankless
Feb 3
Where Do We Go From Here? | Michael Nadeau
Investing for Beginners
Jan 1
2025 Stock Market WRAPPED
All-In with Chamath, Jason, Sacks & Friedberg
Nov 22
Epstein Files Fallout, Nvidia Risks, Burry's Bad Bet, Google's Breakthrough, Tether's Boom
a16z Podcast
Nov 10
Michael Truell: How Cursor Builds at the Speed of AI
Explore Related Topics
This podcast is featured in Best Investing Podcasts (2026) — ranked and reviewed with AI summaries.
Read this week's Investing & Markets Podcast Insights — cross-podcast analysis updated weekly.
You're clearly into Animal Spirits.
Every Monday, we deliver AI summaries of the latest episodes from Animal Spirits and 192+ other podcasts. Free for one show.
Start My Monday DigestNo credit card · Unsubscribe anytime