What Makes Micron Technology (MU) Ashva Capital Management's Largest Holding?

Ashva Capital Management, an investment management company, released 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 U.S. companies that possess strong intrinsic value, adhere to valuation discipline, seek to enhance returns, and commit to long-term investments that allow for compounding rather than pursuing 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. In addition, you can check the Fund's top five holdings to see its best picks for 2025.

In the fourth-quarter 2025 investor letter, Ashva Capital Management highlighted Micron Technology, Inc. (NASDAQ:MU), its largest holding. Micron Technology, Inc. (NASDAQ:MU) is a leading manufacturer of memory and storage products. On January 30, 2026, Micron Technology, Inc. (NASDAQ:MU) stock closed at $414.88 per share. Micron Technology, Inc. (NASDAQ:MU) delivered a 32.91% return in the past month, and its shares are up 361.39% over the past twelve months. Micron Technology, Inc. (NASDAQ:MU) has a market capitalization of $466.951 billion.

Ashva Capital Management stated the following regarding Micron Technology, Inc. (NASDAQ:MU) in its fourth quarter 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 boom-bust PC cycles. It has become a strategic input for AI, cloud infrastructure, and data-intensive workloads, particularly through high-bandwidth memory. At the same time, the supply side of the industry has consolidated meaningfully, with fewer rational players, higher capital intensity, and better pricing discipline than in prior cycles. Micron’s manufacturing scale, technology leadership, and expanding exposure to AI-driven demand position it to generate materially higher through-cycle free cash flow than the market has historically assumed."

Micron Technology, Inc. (NASDAQ:MU) is in 20th position on our list of 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, up from 94 in the previous quarter. While we acknowledge the potential of Micron Technology, Inc. (NASDAQ:MU) 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 Micron Technology, Inc. (NASDAQ:MU) and shared the list of most profitable NASDAQ stocks to buy. 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.