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McIntyre Partnerships’ Q2 2026 Investor Letter

US-based investment company McIntyre Partnerships delivered flat performance in H1 2026, returning 0% gross and -1% net compared to the Russell 2000 Value Index’s 23% return. The second quarter results were a complete reversal of Q1 results, with the portfolio appreciating 23.0% (gross) and 23.3% (net), outperforming the index's 17.3%. The overall market surge contributed to this performance, alongside several positive developments related to the firm’s holdings. Since inception, the fund has returned ~16% gross and ~12% net per annum, surpassing the benchmark’s return of ~9% per...