Portfolio Managers Marcus Ryan (Large caps), Michael Steele (Small caps) and Joel Fleming (Microcaps) sit down with Chris Conway from Livewire to share their views on the season’s key themes, sector deep dives, standout companies, and the stocks they believe could drive performance emerging from the August 2025 reporting season.

Watch the discussion below and read Livewire’s full take here.

Time stamps

0:28 – Characterising the season
1:43 – What were the major themes?
2:49 – Highlight of the season
3:52 – Lowlight of the season
4:25 – Large-cap themes and stocks to watch
9:49 – Small-cap themes and stocks to watch
12:30 – Micro-cap themes and stocks to watch
15:40 – Sector focus: consumer
18:27 – Sector focus: financials
21:32 – Sector focus: property