Volatility has returned to the market, and Jeff Kilburg, founder and CEO of KKM Financial, is advising investors to look toward steadier names as the second half of 2025 begins. In an interview with CNBC, Kilburg said that while stocks have bounced back from the lows seen in April, “investor attention and needing to monitor your investments have never been more needed.”
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Markets hit their trough earlier this year following President Trump’s announcement of universal tariffs, a move that stirred uncertainty and spiked volatility. The S&P 500 has since gained 15% from its lows of April, but Kilburg believes turbulence is far from over. “We’re in a new volatility regime,” he said, pointing to the sharp market reaction during the Israel-Iran conflict as an example of how reactive investors have become.
Three “Boring” Stock Picks
With that in mind, Kilburg is turning to names he calls “boring,” well-established companies with dependable business models and stable cash flows. He sees this as a way to shield portfolios from policy-driven swings and geopolitical noise. One of his top picks is Duke Energy (DUK), which is up over 10% year-to-date and offers a 3.5% yield. Goldman Sachs recently upgraded the stock to Buy, noting that it “has lagged more defensive peers YTD” and is making progress on new generation projects not fully reflected in the share price. The bank raised its price target to $132, implying a 13% upside from current levels.
Kilburg also favors Waste Management (WM), which has climbed roughly 12% in 2025. Melius Research initiated coverage with a Buy rating, citing its “stable growth in a chaotic world.” The stock has an average price target of $255, representing a 14% upside from its recent close.
Another name on his radar is Visa (V), which is up 13% year-to-date. Recently, Mizuho raised the bar and upgraded Visa to Outperform, raising its price target to $425, about 20% above the current level. Analyst Dan Dolev said that Visa still has “a longer runway” for U.S. growth, with card penetration lower than many expect.
Kilburg’s Takeaway
According to Kilburg, investors are tilting toward these familiar, cash-flow-heavy names because “people really want to own names that they know, that they can touch and feel.” In a volatile environment, these types of companies may offer a safer way to stay in the market without absorbing the full impact of the swings.