Ashva Capital Management, an investment management firm, published its Q4 2025 Investor Letter. A copy of the letter can be downloaded here. The Fund’s investment strategy focuses on acquiring interests in high-quality US companies that possess strong intrinsic value, adhere to valuation discipline, seek to improve returns and commit to long-term investments that allow for compounding rather than following fleeting trends. The letter quoted many of Warren Buffett’s words to reinforce Ashva Capital Management’s investment philosophy. Ashva Capital returned 2.26% (net) in 2025, with a gross return of 4.91%, lagging the broad market indices, driven by the dominance of mega-cap stocks. Plus, you can check out the fund’s top five holdings to see its top picks for 2025.

In Q4 2025 investors letter, Ashva Capital Management highlighted Micron Technology, Inc. (NASDAQ:EN), its largest participation. Micron Technology, Inc. (NASDAQ:MU) is a leading manufacturer of memory and storage products. On January 30, 2026, shares of Micron Technology, Inc. (NASDAQ:MU) closed at $414.88 per share. Micron Technology, Inc. (NASDAQ:MU) returned 32.91% last month and its stock has increased 361.39% over the past twelve months. Micron Technology, Inc. (NASDAQ:MU) has a market cap of $466.951 billion.

Ashva Capital Management stated the following about Micron Technology, Inc. (NASDAQ:MU) in its Q4 2025 investor letter:

“Micron Technology, Inc. (NASDAQ:MU) is our largest position because it sits at the intersection of structural demand growth and improving industry discipline. Memory is no longer a commodity business driven solely by computer boom and bust cycles. It has become a strategic entry point for AI, cloud infrastructure, and data-intensive workloads, especially through high-bandwidth memory. At the same time, the supply side of the sector has been significantly consolidated, with fewer rational actors, greater capital intensity and better price discipline than in previous cycles. Micron’s manufacturing scale, technology leadership and expanding exposure to AI-driven demand position it to generate materially higher cycle free cash flow than the market has historically assumed.”

Micron Technology, Inc. (NASDAQ:MU) ranks 20th on our list The 30 most popular stocks among hedge funds. According to our database, 105 hedge fund portfolios held Micron Technology, Inc. (NASDAQ:MU) at the end of the third quarter, compared to 94 in the previous quarter. While we recognize the potential of Micron Technology, Inc. (NASDAQ:MU) as an investment, we believe some AI stocks offer greater upside potential and less downside risk. If you’re looking for an extremely undervalued AI stock that will also benefit significantly from Trump-era tariffs and the onshoring trend, check out our free report on the best short term AI stock.