Marram Investment Management, an outsourced long-term investment solutions provider, released its fourth-quarter investor letter. A copy of the letter can be downloaded here. The Portfolio returned +4.0% (net) in 2025 and a cumulative return of 609.7% since its inception. The year reflects a notable divergence between market prices and business performance, but the firm evaluates the progress based on long-term profit metrics rather than short-term market fluctuations. Large Financials, MLP Energy Infrastructure, and Biopharma contributed positively to the performance, while Payment Technology holdings lagged the performance by 4% despite continued growth in per-share profits. The firm believes that operating leverage and appropriate capital allocation position these businesses to provide sustained free cash flow per share growth and exceptional upside potential over the long term. Please review the Fund’s top five holdings to gain insights into their key selections for 2025.

In its fourth-quarter 2025 investor letter, Marram Investment Management highlighted Shift4 Payments, Inc. (NYSE:FOUR). Shift4 Payments, Inc. (NYSE:FOUR) is a software and payment processing solutions company. On March 20, 2026, Shift4 Payments, Inc. (NYSE:FOUR) stock closed at $41.17 per share. One-month return of Shift4 Payments, Inc. (NYSE:FOUR) was -28.36%, and its shares lost 53.30% over the past 52 weeks. Shift4 Payments, Inc. (NYSE:FOUR) has a market capitalization of $4.206 billion.

Marram Investment Management stated the following regarding Shift4 Payments, Inc. (NYSE:FOUR) in its fourth quarter 2025 investor letter:

"The payment technology sector is currently experiencing a disconnect between operating fundamentals and share price performance. Investor fear of near-term growth deceleration has resulted in valuation compression and shareholder turnover, even as these businesses continue to compound value on a per-share basis. To illustrate this divergence, below we summarize recent operating progress alongside market performance forShift4 Payments, Inc. (NYSE:FOUR).

Shift4 Payments, Inc. (NYSE:FOUR) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 49 hedge fund portfolios held Shift4 Payments, Inc. (NYSE:FOUR) at the end of the fourth quarter, up from 45 in the previous quarter. In Q4 2025, Shift4 Payments, Inc.’s (NYSE:FOUR) gross revenue increased 34% year-over-year to $1.189 billion. While we acknowledge the potential of Shift4 Payments, Inc. (NYSE:FOUR) 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.

In another article, we covered Shift4 Payments, Inc. (NYSE:FOUR) and shared Greystone Capital Management's investment thesis for the company. 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.