iMGP Global Partner, an investment management company, released its fourth quarter 2025 investor letter for the “iMGP Small Company Fund”. A copy of the letter can be downloaded here. The Fund returned 1.33% in the fourth quarter compared to the Russell 2000 Index’s 2.19% return. The Fund’s returns were flat at 0.01% in 2025, compared to a 12.81 return for the Index. In many respects, the market situation returned to normal in the fourth quarter. The Fund’s poor performance in the fourth quarter was caused by the biotech businesses’ impressive performance, which increased by more than 25%. The Fund generally avoids biotech stocks due to their extremely binary character. The majority of the year’s underperformance happened in the third quarter due to style-related factors. Moving forward to 2026, the Fund hoped to continue to refine its process and improve its performance with a commitment to invest in high-quality, growing firms. Please review the Fund’s top five holdings to gain insights into their key selections for 2025.
In its fourth-quarter 2025 investor letter, iMGP Small Company Fund highlighted Manhattan Associates, Inc. (NASDAQ:MANH). Manhattan Associates, Inc. (NASDAQ:MANH) is a technology company that specializes in developing, selling, and deploying software solutions for supply chains, inventory, and omni-channel operations. On March 09, 2026, Manhattan Associates, Inc. (NASDAQ:MANH) stock closed at $150.16 per share. One-month return of Manhattan Associates, Inc. (NASDAQ:MANH) was 0.35%, and its shares lost 10.36% over the past 52 weeks. Manhattan Associates, Inc. (NASDAQ:MANH) has a market capitalization of $9.048 billion.
iMGP Small Company Fund stated the following regarding Manhattan Associates, Inc. (NASDAQ:MANH) in its fourth quarter 2025 investor letter:
“Manhattan Associates, Inc. (NASDAQ:MANH) is a leading provider of warehouse management systems and related supply chain software. The stock underperformed in 4Q, in part driven by 3Q results that included weaker-than-expected bookings, interrupting any momentum that was rebuilding. Some weakness in the retail sector and still-poor market sentiment in software did not help the stock, either. As for MANH’s results, bookings are inherently volatile and the yet-to-be-reported 4Q results should be more important seasonally. Following last year’s disappointment and CEO transition, it appears to us the market is still looking for consistency to regain confidence in the stock. We continue to have conviction in MANH’s competitive position and the growth opportunity ahead of it. We are also growing increasingly positive on new CEO Eric Clark’s potential to improve growth, which we believe could become more evident in the coming quarters, especially as a significant customer renewal cycle builds into late 2026 and 2027.”
Manhattan Associates, Inc. (NASDAQ:MANH) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 33 hedge fund portfolios held Manhattan Associates, Inc. (NASDAQ:MANH) at the end of the fourth quarter, compared to 41 in the previous quarter. While we acknowledge the risk and potential of Manhattan Associates, Inc. (NASDAQ:MANH) 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 Manhattan Associates, Inc. (NASDAQ:MANH) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Manhattan Associates, Inc. (NASDAQ:MANH) and shared a list of best debt-free mid-cap stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q4 2025 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
