US-based investment company, McIntyre Partnerships, returned -19% gross and -20% net in the first quarter of 2026 compared to the Russell 2000 Value Index’s 5% return.
A copy of the letter can be downloaded here
Since inception, the fund has returned ~14% gross and ~10% net per annum, surpassing the benchmark’s return of ~7% per annum. The Q1 results were disappointing for the fund, primarily due to a significant decline in the shares of life science tools and medical device stocks, in which the fund has substantial investments, as well as specific issues related to QDEL, a company in the life science tools sector. By the end of the month, the fund’s exposure was recorded at 123% long, 27% short, and 97% net.
In addition, you can check the Strategy’s top 5 holdings to determine its best picks for 2026. In its first-quarter 2026 investor letter, McIntyre Partnerships highlighted stocks such as Seaport Entertainment Group Inc. (NYSE:SEG). Seaport Entertainment Group Inc. (NYSE:SEG) owns, develops, and operates a portfolio of entertainment and real estate assets.