Core Insights - Fenimore Asset Management's Q4 2025 investor letter indicates a solid yet volatile stock market, influenced by AI enthusiasm, economic uncertainty, and monetary policy concerns [1] - The firm anticipates mixed market conditions in 2026, with many AI-related stocks appearing expensive while high-quality companies are trading at multi-year lows, presenting potential investment opportunities [1] Market Performance - The S&P 500 Index rose by 2.66% in Q4 2025, driven by large-cap technology and communication services stocks [1] - Fenimore Small Cap Strategy returned -4.12%, underperforming the Russell 2000 Index, which returned 2.19% [1] - Fenimore Dividend Focus Strategy declined -4.41% compared to the Russell Midcap Index's 0.16% return [1] - Fenimore Value Strategy also declined -1.17% against the Russell Midcap Index's 0.16% return, with underperformance attributed to investments in the financial and industrial sectors [1] Company Focus: SPS Commerce, Inc. - SPS Commerce, Inc. (NASDAQ:SPSC) was highlighted as a significant performance detractor in the Fenimore Small Cap Strategy [2][3] - As of January 15, 2026, SPS Commerce's stock closed at $91.24, with a one-month return of 0.74% and a 52-week loss of 52.23% [2] - The company has a market capitalization of $3.459 billion [2] - Management's poor acquisition decision has attracted activist attention, although the firm is still viewed as having multiple avenues for value creation [3]

MONTREAL, Jan. 13, 2026 /PRNewswire/ -- Tecsys Inc. (TSX: TCS), a leading provider of supply chain management solutions, was recognized by Modern Healthcare's Best in Business Awards for its role in helping health systems strengthen supply chain resilience and visibility. This Best in Business Supply Chain category recognizes companies who help healthcare providers manage the flow of critical goods and materials essential for care delivery from sourcing and inventory management to procurement and distributi ...

Core Viewpoint - A class action lawsuit has been filed against Jayud Global Logistics Limited for alleged securities fraud during the period from April 21, 2023, to April 30, 2025, following a significant stock price manipulation scheme [1][3]. Company Overview - Jayud Global Logistics Limited is headquartered in Shenzhen, China, and offers end-to-end supply chain solutions, including freight forwarding, supply chain management, customs brokerage, and intelligent logistics IT systems [2]. Allegations and Stock Performance - The lawsuit claims that Jayud's stock price surged from approximately $1.00 to $8.00 per share in early 2025 due to a "pump-and-dump" scheme orchestrated by insiders, leading to a subsequent collapse of about 95% on April 2, 2025, resulting in substantial investor losses [3].

The company says the network will allow users to monitor and manage their sourcing operations across all tiers, offering insights into performance and risk while supporting supplier discovery to strengthen supply chain resilience. Supply Chain Network Intelligence is built on Inspectorio’s existing tools for sourcing, quality, compliance and traceability, expanding these capabilities with industry benchmarks and data sourced from a global ecosystem of over 15,000 suppliers, factories and manufacturers. ...

NEW YORK, NY / ACCESS Newswire / December 29, 2025 / For decades, supply chains ran on assumed trust. Documents moved with goods. ...

天眼查App显示，近日，佛山市青橙供应链管理有限公司成立，注册资本100万人民币，经营范围为一 般项目：供应链管理服务；国内贸易代理；货物进出口；技术服务、技术开发、技术咨询、技术交流、 技术转让、技术推广；人工智能应用软件开发；人工智能理论与算法软件开发；人工智能基础软件开 发；集成电路芯片及产品制造；信息系统集成服务；智能家庭消费设备制造；人工智能行业应用系统集 成服务；智能家庭消费设备销售；物联网技术研发；塑料制品销售；金属材料销售；信息技术咨询服 务；信息咨询服务（不含许可类信息咨询服务）；企业管理咨询；社会经济咨询服务；贸易经纪。（除 依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

Core Insights - The GEP Global Supply Chain Volatility Index indicates that global supply chains remained underutilized in November 2025, with a headline index of -0.29, suggesting a weakening outlook for early 2026 [1][3][8] Regional Analysis - **North America**: The index fell to -0.53 from -0.45, marking the highest degree of underutilized supplier capacity since March, indicating a softening manufacturing activity [9] - **Europe**: The index dipped to -0.33 from -0.25, reflecting ongoing fragility in the industrial economy, with manufacturers in Germany and France showing reluctance to expand purchasing [4][9] - **Asia**: The index rose to -0.16 from -0.30, signaling less spare capacity than in October, with Chinese factory purchasing slowing down, although ASEAN countries like Indonesia and Vietnam showed resilience [4][9] Demand and Supply Dynamics - Global factories' purchases of commodities and intermediate goods slowed in November, primarily due to reduced factory buying in China and weak demand in the US and major European economies [14] - Reports of stockpiling due to price or supply fears remain historically low, indicating limited concerns about purchasing price inflation or shortages [14] - The global item shortages tracker is well below its long-term trend, suggesting healthy supply levels for manufacturers, with minimal challenges in sourcing [14] Cost Pressures and Market Conditions - With excess capacity globally, companies are expected to face limited purchasing cost pressures, excluding tariff-related effects, as shortages remain minimal and stockpiling activity is low [5][8] - Transportation costs increased slightly in November but remained in line with historical averages, indicating stable logistics conditions [14]

Core Insights - Companies are modernizing supply chains to enhance agility, visibility, and sustainability in response to geopolitical and environmental disruptions [1] Group 1 - The modernization of supply chains is driven by the need for greater agility [1] - Enhanced visibility in supply chains is becoming a priority for companies [1] - Sustainability is a key focus area for companies as they adapt to disruptions [1]

Group 1: Agentic Commerce Development - Agentic commerce involves consumers utilizing AI models to shop on their behalf, with technology companies like OpenAI investing heavily in this area [1][4] - OpenAI has introduced a feature allowing ChatGPT users to purchase products directly from specific merchants, with partnerships including Etsy, Walmart, and Shopify merchants [4] - Amazon has been developing its own agentic commerce features, such as the "Buy For Me" function, while also exploring partnerships with third-party providers [5][6][7] Group 2: Supply Chain and Customs Enforcement - Exiger has secured a multi-million-dollar contract with U.S. Customs and Border Protection (CBP) to combat illegal transshipment practices that bypass U.S. trade laws [2][3] - Exiger's AI models will assist CBP in enforcing tariff orders, improving data for decision-making, and tracking transshipments, thereby enhancing the efficiency of customs operations [2] - The technology aims to provide CBP agents with additional resources for scanning shipments, addressing the significant volume of goods entering the U.S. annually [2] Group 3: Warehouse Management Innovations - Blue Yonder has enhanced its Warehouse Management System (WMS) by integrating new AI capabilities, including a Warehouse Ops Agent that provides real-time updates [8][9] - The new tools, such as Resource Orchestration and Resource Forecasting, help warehouse operators allocate resources effectively based on task priorities and conditions [10][11] - These advancements aim to improve operational efficiency and effectiveness in warehouses, addressing challenges posed by disconnected systems and reactive processes [12][13]

Core Viewpoint - Park-Ohio Holdings Corp. has declared a quarterly cash dividend of $0.125 per share, to be paid on November 28, 2025, to shareholders of record as of November 14, 2025 [1]. Company Overview - Park-Ohio is a diversified international company that provides supply chain management outsourcing services, capital equipment for production lines, and manufactured components for product assembly. The company is headquartered in Cleveland, Ohio, and operates approximately 130 manufacturing sites and supply chain logistics facilities globally, organized into three reportable segments: Supply Technologies, Assembly Components, and Engineered Products [2]. Recent Developments - Andrew C. Clarke has been appointed to Park-Ohio's Board of Directors as an independent director effective September 30, 2025. Clarke is the former Chief Financial Officer of C.H. Robinson Worldwide, Inc. [6]. - Park-Ohio will participate in the Sidoti & Company Small-Cap Virtual Conference on September 17-18, 2025, where company executives will present and hold one-on-one meetings with investors [7].