Letters by company

Sps Commerce INC

2 letters discussing SPSC. Everything written about it on this site is on its ticker page.

Fenimore Asset Management Q4 2025 Quarterly Investment Commentary Fenimore’s quality-focused strategies lagged as investor enthusiasm concentrated in AI-linked and more speculative businesses. The firm added to selected existing holdings, cut or exited positions including Cass Information Systems and Pinnacle Financial Partners, and argues that durable franchises, sound balance sheets, and disciplined capital allocation should prevail over time. Q4 2025 APH $210BAZO $47BBRO $21B
Fenimore Asset Management Quarterly Investment Commentary Fenimore attributes uneven portfolio results to narrow market leadership, higher rates and sentiment-driven weakness despite durable business fundamentals. The firm sold CBIZ and Baldwin Insurance Group following acquisition announcements, initiated positions including Mobility Global, Houlihan Lokey and UL Solutions, and remained selective as AI infrastructure spending broadened beyond technology. Q3 2026 BN $81BMBGL $5.3BMLM $34B