Spheria Asset Management, an investment management company, released its December 2025 “Spheria Global Opportunities Fund” investor letter. A copy of the letter can be downloaded here. The fund returned -3.0% in the fourth quarter, underperforming the 2.2% return of the MSCI World Small Cap Accumulation Index (Net Return) AUD. In December, the fund returned -1.5% underperforming the index by -0.7%. By sector, Healthcare continued its recovery, and the Materials sector was also strong, while Consumer Staples and Consumer Discretionary were weak. By region, the UK’s performance lagged by approximately 2%, while other regions’ results were aligned with one another. Small caps have failed to close the value gap that emerged before the interest rate cycle began in early 2022. In addition, please check the Fund’s top five holdings to know its best picks in 2025.
In its December 2025 investor letter, Spheria Global Opportunities Fund highlighted stocks like Jack Henry & Associates, Inc. (NASDAQ:JKHY). Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a financial technology company that offers solutions and payment processing services for community banks and credit unions. On March 10, 2026, Jack Henry & Associates, Inc. (NASDAQ:JKHY) stock closed at $171.02 per share. One-month return of Jack Henry & Associates, Inc. (NASDAQ:JKHY) was 3.24%, and its shares declined 1.22% over the past twelve months. Jack Henry & Associates, Inc. (NASDAQ:JKHY) has a market capitalization of $12.378 billion.
Spheria Global Opportunities Fund stated the following regarding Jack Henry & Associates, Inc. (NASDAQ:JKHY) in its December 2025 investor letter:
“Over the quarter, the largest contributors were owning Expeditors (EXPD US, +21%), an overweight position in YETI (YETI US, +33%), and owning Jack Henry & Associates, Inc. (JKHY US, +22%).
JKHY is a Missouri-based provider of mission-critical banking software to US regional and community financial institutions. Founded in 1976, JKHY provides software that sits at the heart of a bank or credit union’s operations, with offerings spanning core banking platforms, online and mobile banking, fraud and risk tools, and cloud-delivered solutions that help their clients modernise legacy systems, enhance customer experience and meet increasingly complex regulatory requirements.
Within US banking software, JKHY is known for its strong culture, service and execution servicing the community and regional banking landscape. High switching costs, multi-year contracts and the operational risk of changing core providers create a durable moat, supporting resilient revenue and pricing power over time. JKHY has grown revenue at ~7% p.a. CAGR over the past five years while maintaining stable margins despite end-customer consolidation, with over 90% of revenue recurring and minimal customer churn…” (Click here to read the full text)
Jack Henry & Associates, Inc. (NASDAQ:JKHY) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 57 hedge fund portfolios held Jack Henry & Associates, Inc. (NASDAQ:JKHY) at the end of the fourth quarter, up from 56 in the previous quarter. While we acknowledge the risk and potential of Jack Henry & Associates, Inc. (NASDAQ:JKHY) 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 Jack Henry & Associates, Inc. (NASDAQ:JKHY) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Jack Henry & Associates, Inc. (NASDAQ:JKHY) and shared a list of best information technology services stocks to buy. In its Q4 2025 investor letter Conestoga Capital Advisors highlighted Jack Henry & Associates, Inc.’s (NASDAQ:JKHY) excellent quarterly results and that signals its sustained growth despite industry headwinds. 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.
