Conestoga Capital Advisors, an asset management company, released its fourth-quarter 2025 investor letter. US equities experienced solid returns in 2025, with double-digit gains across all major indices. A copy of the letter can be downloaded here. In 2025, the Conestoga Micro Cap Composite met its purpose of preserving capital during negative market returns and capturing upside during strong market returns. Micro Caps faced significant volatility in 2025. During the course of events, Conestoga Micro Cap Composite returned -1.91% net of fees in the fourth quarter and 16.24% net of fees for the full year 2025, trailing the Russell Microcap Growth Index’s 2.14% and 21.84% gains in the fourth quarter and full year, respectively. Please review the Strategy’s top five holdings to gain insights into their key selections for 2025.
In its fourth-quarter 2025 investor letter, Conestoga Capital Advisors highlighted Electrovaya Inc. (NASDAQ:ELVA). Headquartered in Mississauga, Canada, Electrovaya Inc. (NASDAQ:ELVA) is a lithium-ion battery management systems and battery-related products manufacturer. On February 19, 2026, Electrovaya Inc. (NASDAQ:ELVA) stock closed at $8.04 per share. One-month return of Electrovaya Inc. (NASDAQ:ELVA) was -27.04%, and its shares gained 251.09% over the past 52 weeks. Electrovaya Inc. (NASDAQ:ELVA) has a market capitalization of $397.048 million.
Conestoga Capital Advisors stated the following regarding Electrovaya Inc. (NASDAQ:ELVA) in its fourth quarter 2025 investor letter:
“Electrovaya Inc. (NASDAQ:ELVA) designs and manufactures lithium-ion battery systems for industrial mobility and energy storage applications. Shares traded higher as order activity strengthened and progress toward commercial scale improved revenue visibility. Advancements in customer adoption and manufacturing execution supported optimism around future growth. The market responded positively to their differentiated battery technology and increasing exposure to electrification trends across material handling and industrial end markets.”
Electrovaya Inc. (NASDAQ:ELVA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 57 hedge fund portfolios held Electrovaya Inc. (NASDAQ:ELVA) at the end of the third quarter, up from 56 in the previous quarter. While we acknowledge the risk and potential of Electrovaya Inc. (NASDAQ:ELVA) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Electrovaya Inc. (NASDAQ:ELVA) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Electrovaya Inc. (NASDAQ:ELVA) and shared a list of best EV battery stocks to buy. In addition, please check out our hedge fund investor letters Q4 2025 page for more investor letters from hedge funds and other leading investors.
READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.
Disclosure: None. This article is originally published at Insider Monkey.
