QSM Asset Management Signals Staffing Sector Bottom with Strategic Bets on Robert Half and ManpowerGroup

QSM Asset Management Ltd has entered the staffing and risk consulting space, establishing new stakes in Robert Half and ManpowerGroup. According to recent SEC filings, the fund acquired 202,846 shares of Robert Half, valued at approximately $5.37 million, alongside a $5.9 million position in ManpowerGroup. These investments arrive during a period of significant volatility for the staffing industry. Robert Half's shares have declined nearly 40% over the last year, reflecting a broader trend where corporations have reduced reliance on temporary and contract labor amid a sluggish hiring environment. Despite the downturn, Robert Half's January 29, 2026, earnings report showed signs of stabilization. The company beat analyst estimates for both revenue and earnings, marking its first positive sequential revenue growth on a same-day, constant-currency basis in over three years. However, the struggle is evident in the bottom line, with full-year net income dropping from $252 million in 2024 to $133 million in 2025. The simultaneous entry into two sector peers suggests a deliberate, value-oriented strategy rather than an isolated stock pick. Because staffing businesses are highly cyclical, they often experience rapid earnings recovery when hiring activity rebounds, making this a high-conviction bet on a sectoral turnaround.