Voya Investment Management, an investment management company, released its first-quarter 2026 investor letter for its “Voya MI Dynamic Small Cap Fund.” It is an actively managed US Small Cap core equity strategy. A copy of the letter can be downloaded here. The first quarter of 2026 was challenging for the equity markets as easing inflation was overshadowed by increased geopolitical risks and uncertainty surrounding policy. Large-cap technology and software stocks struggled due to worries about the impact of AI disruptions, while value stocks showed resilience even as their growth counterparts experienced declines. Overall, the markets remained range-bound amidst volatility throughout the quarter. The Fund underperformed its benchmark, the Russell 2000 Index (the Index), on a net asset value (NAV) basis in the quarter, driven by stock selection issues. There is a noticeable shift towards more defensive and quality-focused sectors, highlighting the importance of selective positioning and active risk management in this more volatile landscape. In addition, please check the Fund’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Voya MI Dynamic Small Cap Fund highlighted stocks like Tronox Holdings plc (NYSE:TROX). Incorporated in 2018, Tronox Holdings plc (NYSE:TROX) is a vertically integrated mining company and leading manufacturer of TiO2 pigment. On June 3, 2026, Tronox Holdings plc (NYSE:TROX) closed at $8.07 per share. One-month return of Tronox Holdings plc (NYSE:TROX) was -7.19%, and its shares gained 36.63% over the past 52 weeks. Tronox Holdings plc (NYSE:TROX) has a market capitalization of $1.25 billion.
Voya MI Dynamic Small Cap Fund stated the following regarding Tronox Holdings plc (NYSE:TROX) in its Q1 2026 investor letter:
“The overweight to Tronox Holdings plc (NYSE:TROX) was driven by risk management decisions. Tronox is a vertically integrated global producer of titanium dioxide and zircon, positioned as a key Western supplier with its own mineral sands and pigment assets. The stock rose sharply year-to-date, as it was up roughly mid-double-digits to low-triple-digits by mid-February, even as 1Q26 EBITDA guidance came in below consensus and prompted a pullback after earnings.”
Tronox Holdings plc (NYSE:TROX) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 31 hedge fund portfolios held Tronox Holdings plc (NYSE:TROX) at the end of the first quarter, compared to 32 in the previous quarter. In Q1 2026, Tronox Holdings plc (NYSE:TROX) reported revenue of $760 million, marking an increase of 3% versus the first quarter of 2025. While we acknowledge the risk and potential of Tronox Holdings plc (NYSE:TROX) 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 Tronox Holdings plc (NYSE:TROX) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Tronox Holdings plc (NYSE:TROX) and shared the list of best performing small cap stocks so far in 2026. 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.
