Welcome to the middle of the 2025 MLB season. We've already passed the natural halfway point (1,215 games) and are nearing the symbolic version of midseason (the All-Star break). Either way, we've seen more regular-season baseball in 2025 than we'll get the rest of the way.
With that in mind, let's wade into this month's Stock Watch by taking a retrospective spin around the majors. As usual, we'll slot teams according to the current competitive hierarchy and see how the picture has changed since we last convened. In addition, we'll note the dominant storyline that has emerged for each club and hand out first-half MVP awards for all 30 teams.