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TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. The strategy returned 3.70% (gross) and 3.45% (net) in the fourth quarter compared to a 1.22% return for the Russell 2000 Growth Index. In 2025, the strategy returned 6.91% (gross) and 5.85% (net) compared to 13.01% for the index. Global equity markets ended the quarter on a positive note, with Europe leading, followed by Emerging Markets. In most markets, large caps outperformed small caps. The trade truce between the United States and China was prolonged for an additional year, but global geopolitical concerns, whether related to tariffs or not, persisted. Third-quarter GDP exceeded expectations, but consumer caution persists amid ongoing labor-market softening, influencing the Fed’s decision on interest-rate cuts. Please review the Strategy’s top five holdings to gain insights into their key selections for 2025.
In its fourth-quarter 2025 investor letter, TimesSquare Capital U.S. Small Cap Growth Strategy highlighted Tetra Tech, Inc. (NASDAQ:TTEK). Tetra Tech, Inc. (NASDAQ:TTEK) is a consulting and engineering services firm focusing on water, environment, and sustainable infrastructure. On April 1, 2026, Tetra Tech, Inc. (NASDAQ:TTEK) closed at $30.73 per share. One-month return of Tetra Tech, Inc. (NASDAQ:TTEK) was -12.54%, and its shares gained 2.40% over the past 52 weeks. Tetra Tech, Inc. (NASDAQ:TTEK) has a market capitalization of $8.015 billion.
TimesSquare Capital U.S. Small Cap Growth Strategy stated the following regarding Tetra Tech, Inc. (NASDAQ:TTEK) in its fourth quarter 2025 investor letter:
“Many of our Industrials positions provide necessary business-to-business operational services, highly technical components, equipment enabling automation and efficiency improvements, or essential infrastructure services. Elsewhere in the sector, we exited our position in Tetra Tech, Inc. (NASDAQ:TTEK), a consulting and engineering firm focused on water and related environmental services. We expected that the slowing national infrastructure spending in Australia would limit Tetra Tech’s opportunities in the near term.”
Tetra Tech, Inc. (NASDAQ:TTEK) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 46 hedge fund portfolios held Tetra Tech, Inc. (NASDAQ:TTEK) at the end of the fourth quarter, up from 36 in the previous quarter. Tetra Tech, Inc. (NASDAQ:TTEK) reported net revenue of $987 million in the first quarter of fiscal 2026, which is up 8% from the prior year. While we acknowledge the potential of Tetra Tech, Inc. (NASDAQ:TTEK) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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