QSM Asset Management Ltd bought 197,104 shares of ManpowerGroup during the first quarter; the estimated transaction value was $5.9 million based on quarterly average pricing.
The transaction represented a 2.9% change in fund 13F reportable assets under management (AUM).
The new ManPower Group stake does not rank among the fund’s top five holdings (as of the most recent 13F filing).
According to an SEC filing dated April 15, 2026, QSM Asset Management Ltd established a new position in ManpowerGroup by acquiring 197,104 shares during the first quarter. The estimated transaction value, calculated using quarterly average pricing, was $5.9 million.
| Metric | Value |
|---|---|
| Market cap | $1.4 billion |
| Revenue (TTM) | $18.0 billion |
| Net income (TTM) | ($13.3 million) |
| Dividend yield | 4.9% |
ManpowerGroup is a leading global provider of workforce solutions, serving clients through an extensive international footprint and a diversified service portfolio.
ManpowerGroup has had a rough stretch. Shares have fallen roughly 37% over the past year — a steep decline that reflects real headwinds in the global staffing industry. Slower hiring demand, ongoing automation anxiety, and an uncertain macroeconomic backdrop have weighed on workforce solutions companies. ManpowerGroup — once a steady, mid-cap workhorse — has underperformed the broader market by about 67 percentage points over the last 12 months.
Against that backdrop, QSM Asset Management’s decision to open a new position here is worth a second look. This isn’t a top-conviction bet — ManpowerGroup doesn’t crack the fund’s top five holdings — but the $5.9 million purchase, representing nearly 3% of QSM’s total reported assets, signals that QSM sees potential value in this beaten-down name.
Staffing companies can be useful barometers for broader economic confidence: When GDP growth is strong, and job openings climb, companies often turn to staffing firms like ManpowerGroup to scale headcount quickly without the long-term commitment of full-time hires.
ManpowerGroup’s most recent earnings report offered some reasons for cautious optimism: Q4 2025 revenues came in at $4.7 billion — up 7% year over year. Management pointed to improving stabilization in market trends and sequential progress in both revenue and profitability throughout the year. That said, the business turnaround is still — to put it charitably — a work in progress. Adjusted earnings per share for the full year fell 38% (in constant currency), reflecting the toll of restructuring charges and a difficult operating environment in Europe.
For long-term investors, the question is whether the stock’s current weakness reflects a temporary cyclical trough or a more structural shift in how companies source talent. QSM’s move suggests at least one institutional player thinks the risk/reward is starting to look attractive at these levels — even if it’s too early to call a clear turning point for the stock.
Investors looking for broader exposure to the human capital and workforce management space might also consider ETFs like the iShares U.S. Industrials ETF (NYSEMKT:IYJ), which includes staffing and employment services among its holdings.
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Andy Gould has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Pfizer. The Motley Fool recommends Occidental Petroleum. The Motley Fool has a disclosure policy.
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