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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};ge("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat($n)),notifLabel:document.querySelector(".".concat(Xn))};t.notifDropdown&&so(e,t)}))}()}};]]>Soumya EswaranMon, February 23, 2026 at 3:21 PM GMT+1 3 min readBrown Capital Management, an investment management company, released its fourth quarter 2025 investor letter for “The Brown Capital Management Small Company Fund”. A copy of the letter can be downloaded here. In the fourth quarter of 2025, the Small Company Fund (Investor shares) fell 1.50%, behind the Russell 2000® Growth index's 1.22% gain. Real estate and telecommunications businesses led the benchmark's performance for the quarter. The Fund was down 11.46% in 2025, significantly lagging the Index’s 13.01% return. The firm’s investment decisions are driven by company fundamentals, and its holdings performed well in terms of revenue and earnings growth in 2025. Please review the Fund’s top five holdings to gain insights into their key selections for 2025.In its fourth-quarter 2025 investor letter, The Brown Capital Management Small Company Fund highlighted stocks like AvePoint, Inc. (NASDAQ:AVPT). AvePoint, Inc. (NASDAQ:AVPT) is a cloud-based data management solutions provider. On February 20, 2026, AvePoint, Inc. (NASDAQ:AVPT) stock closed at $10.50 per share. One-month return of AvePoint, Inc. (NASDAQ:AVPT) was -17.97%, and its shares lost 38.42% over the past 52 weeks. AvePoint, Inc. (NASDAQ:AVPT) has a market capitalization of $2.266 billion.The Brown Capital Management Small Company Fund stated the following regarding AvePoint, Inc. (NASDAQ:AVPT) in its fourth quarter 2025 investor letter:"In the quarter, we added four companies to the Fund—AvePoint, Inc. (NASDAQ:AVPT), Loar Holdings (LOAR), PDF Solutions (PDFS) and Veracyte (VCYT). AvePoint Inc. provides cloud-native data management software that helps organizations secure, govern and ensure business continuity for critical information across platforms like Microsoft 365, Google and Salesforce. Its key products include Cloud Backup, Cloud Governance for access and lifecycle control, and tools for migrating data from on-premise to the cloud. AvePoint generated $330 million in revenue for 2024, and strong 23% revenue annualized growth over the past five years. The company’s 2029 revenue target of $1 billion implies continued 20%-plus growth over the near term in a large and growing market. The company is innovative and has a solid pipeline of new products including AI Pulse, which will allow companies to monitor and govern their AI agents. AvePoint’s Control Suite products should also benefit from the expanding use of AI, as companies must secure data so that AI agents do not inadvertently expose sensitive data to unauthorized users. AvePoint is GAAP profitable, with 2.2% EBIT margin during 2024, and the company expects to improve profitability. AvePoint has a solid balance sheet with $470 million in cash and no debt."Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,909.68 +0.17 (+0.00%)Dow 3049,678.63 +52.66 (+0.11%)Nasdaq22,851.70 -34.37 (-0.15%)Russell 20002,663.78 -1.31 (-0.05%)VIX20.08 +0.99 (+5.19%)Gold5,181.50 +100.60 (+1.98%)Trending tickersBTC-USD Bitcoin USD 66,114.96 -1,492.12 (-2.21%)NVO Novo Nordisk A/S 40.22 -7.20 (-15.18%)LLY Eli Lilly and Company 1,046.47 +36.77 (+3.64%)VNDA Vanda Pharmaceuticals Inc. 7.87 +2.10 (+36.45%)NOVO-B.CO Novo Nordisk A/S 254.15 -46.85 (-15.56%)PortfolioSign in to access your portfolioSign inTop gainersACLX Arcellx, Inc. 113.96 +49.85 (+77.76%)TLX Telix Pharmaceuticals Limited 6.87 -0.82 (-10.65%)IBRX ImmunityBio, Inc. 10.25 +1.55 (+17.83%)FSM Fortuna Mining Corp. 12.73 +0.46 (+3.78%)SII Sprott Inc. 145.49 +1.48 (+1.03%)Top losersNVO Novo Nordisk A/S 40.19 -7.23 (-15.25%)AKAM Akamai Technologies, Inc. 93.66 -0.51 (-0.54%)TLX Telix Pharmaceuticals Limited 6.87 -0.82 (-10.65%)QLYS Qualys, Inc. 90.62 -2.05 (-2.21%)HHH Howard Hughes Holdings Inc. 74.20 -0.05 (-0.07%)Most activeNKE NIKE, Inc. 64.84 -0.58 (-0.89%)NVO Novo Nordisk A/S 40.19 -7.23 (-15.25%)UWMC UWM Holdings Corporation 4.5680 -0.0470 (-1.02%)NCLH Norwegian Cruise Line Holdings Ltd. 24.80 +0.48 (+1.96%)DKNG DraftKings Inc. 21.91 -0.40 (-1.79%)Top economic eventsEarnings eventsMy earnings eventsEarnings events