Should You Hold WillScott Holdings (WSC)?

Madison Investments, an investment advisor, released its “Madison Small Cap Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The third quarter was difficult for the Small Cap Fund.  The small-cap index’s performance was broad-based. The Madison Small Cap Fund (class Y) was down 1.3% in the quarter, significantly underperforming the benchmarks. The underperformance was driven by stock selection and exacerbated by a very speculative market. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its third-quarter 2025 investor letter, Madison Small Cap Fund highlighted stocks such as WillScot Holdings Corporation (NASDAQ:WSC). WillScot Mobile Mini Holdings Corp. changed its name to WillScot Holdings Corporation (NASDAQ:WSC) in July 2024. WillScot Holdings Corporation (NASDAQ:WSC) is a company that offers workspace and portable storage solutions. The one-month return of WillScot Holdings Corporation (NASDAQ:WSC) was -29.46%, and its shares lost 56.34% of their value over the last 52 weeks. On November 20, 2025, WillScot Holdings Corporation (NASDAQ:WSC) stock closed at $15.85 per share, with a market capitalization of $2.886 billion.

Madison Small Cap Fund stated the following regarding WillScot Holdings Corporation (NASDAQ:WSC) in its third quarter 2025 investor letter:

“Underperformance in Industrials was concentrated in three large investments. Carlisle Companies (CSL), WillScot Holdings Corporation (NASDAQ:WSC), and Core and Main (CMN) were down in the quarter. WSC has been a really challenging investment, driven by challenging end markets. We have held our position here because the unit economics of the mobile storage business are quite attractive and management uses the prodigious free cash flow (FCF) of the business to buy back stock – share count has shrunk from 230 million shares to 182 million in the past five years. In May we revisited our intrinsic value of WSC given the challenging end market. Overlaying conservative assumptions on an end market recovery and continued share buybacks from the incremental FCF, we arrived at a $46 intrinsic value. Based on our work, we decided to continue our investment. This call has not yet played out, as we misjudged the lack of appetite for WSC’s shares in such an unusually tough environment. Going forward, we still believe in the business model, the management team, and the opportunity for this stock to be much higher over the next few years.”

Is WillScot Holdings Corporation (WSC) The Mid-Cap Stock Insiders Are Buying Recently?

WillScot Holdings Corporation (NASDAQ:WSC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 49 hedge fund portfolios held WillScot Holdings Corporation (NASDAQ:WSC) at the end of the second quarter, up from 46 in the previous quarter. In the third quarter of 2025, WillScot Holdings Corporation (NASDAQ: WSC) reported revenue of $567 million, which is a decrease of $34 million compared to Q3 2024. While we acknowledge the risk and potential of WillScot Holdings Corporation (NASDAQ:WSC) 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 WillScot Holdings Corporation (NASDAQ:WSC) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

In another article, we covered WillScot Holdings Corporation (NASDAQ:WSC) and shared Turtle Creek Asset Management’s views on the company. In addition, please check out our hedge fund investor letters Q3 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.