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 like Latham Group, Inc. (NASDAQ:SWIM). Latham Group, Inc. (NASDAQ:SWIM) is an in-ground residential swimming pool manufacturer operating across North America, Australia, and New Zealand. On June 1, 2026, Latham Group, Inc. (NASDAQ:SWIM) closed at $5.32 per share. One-month return of Latham Group, Inc. (NASDAQ:SWIM) was -9.22%, and its shares lost 12.79% over the past 52 weeks. Latham Group, Inc. (NASDAQ:SWIM) has a market capitalization of $624.63 million.
McIntyre Partnerships stated the following regarding Latham Group, Inc. (NASDAQ:SWIM) in its Q1 2026 investor letter:
“In the losers column, FTRE, SHC, Latham Group, Inc. (NASDAQ:SWIM), and STHO lost 100-500bps, and QDEL lost over 500bps. SWIM retrenched with other housing-related equities as the Iran war caused oil prices to surge, which dims the outlook for further rate cuts. “
Latham Group, Inc. (NASDAQ:SWIM) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 23 hedge fund portfolios held Latham Group, Inc. (NASDAQ:SWIM) at the end of the first quarter, compared to 27 in the previous quarter. While we acknowledge the potential of Latham Group, Inc. (NASDAQ:SWIM) 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 Latham Group, Inc. (NASDAQ:SWIM) and shared the list of most promising small-cap industrial stocks under $30. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.