TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” first-quarter 2026 investor letter. A copy of the letter can be downloaded here. The Strategy fell 7.72% (net) in the quarter compared to -6.35% for the Russell Midcap Growth Index. In the first quarter, markets navigated geopolitical tensions and economic resilience alongside temporary global tariffs. High oil prices and supply chain disruptions followed U.S. and Israeli involvement in Iran, prompting a shift to safer assets and a reevaluation of supply chains and energy dependencies. Central banks maintained steady policies despite energy-driven inflation. In this environment, the Strategy remains focused on disciplined management teams with durable competitive advantages. Please review the Strategy’s top five holdings to gain insights into their key selections for 2026.
In its first-quarter 2026 investor letter, TimesSquare Capital U.S. Mid Cap Growth Strategy highlighted Permian Resources Corporation (NYSE:PR). Headquartered in Midland, Texas, Permian Resources Corporation (NYSE:PR) is an independent oil and natural gas company. On July 1, 2026, Permian Resources Corporation (NYSE:PR) closed at $17.93 per share. One-month return of Permian Resources Corporation (NYSE:PR) was -11.06%, and its shares gained 27.52% over the past 52 weeks. Permian Resources Corporation (NYSE:PR) has a market capitalization of $15.45 billion.
TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Permian Resources Corporation (NYSE:PR) in its Q1 2026 investor letter:
“We often see the ebb and flow of the Energy sector tied to underlying commodity prices. In this area, we seek low-cost exploration & production companies with high-yielding acreage or specialized service providers. Permian Resources Corporation (NYSE:PR) is an independent oil and natural gas company with operations in the Delaware Basin. Escalating geopolitical tensions with Iran and the subsequent rally in oil prices have driven a significant appreciation in Permian Resources’ stock. The combination of better price realizations and lower operating expenses contributed to a strong quarter. We decided to exit this small position on the 35% improvement in its stock price.”
Permian Resources Corporation (NYSE:PR) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 56 hedge fund portfolios held Permian Resources Corporation (NYSE:PR) at the end of the first quarter, the same as in the previous quarter. While we acknowledge the risk and potential of Permian Resources Corporation (NYSE:PR) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Permian Resources Corporation (NYSE:PR) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Permian Resources Corporation (NYSE:PR) and shared the list of high yield crude oil stocks to buy. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
