American Century Investments, an investment management company, released its first-quarter 2026 investor letter for the “American Century Investments Small Cap Value Fund.” A copy is available to download here. Equity markets encountered challenges during the quarter, initially due to fears of AI disruption and later due to the conflict in Iran. The Fund’s Investor Class returned 3.85% for the quarter, outperforming a 4.96% return for the Russell 2000 Value Index. While the Industrial and Materials sectors underperformed, the exposure to Energy positively impacted relative performance. The portfolio focuses on investing in small-cap companies with undervalued quality and earnings potential. In addition, please check the Fund’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, American Century Investments Small Cap Value Fund highlighted Permian Resources Corporation (NYSE:PR). Headquartered in Midland, Texas, Permian Resources Corporation (NYSE:PR) is an independent oil and natural gas company. On June 8, 2026, Permian Resources Corporation (NYSE:PR) closed at $19.59 per share. One-month return of Permian Resources Corporation (NYSE:PR) was -2.88%, and its shares gained 39.63% over the past 52 weeks. Permian Resources Corporation (NYSE:PR) has a market capitalization of $16.4 billion.
American Century Investments Small Cap Value Fund stated the following regarding Permian Resources Corporation (NYSE:PR) in its Q1 2026 investor letter:
“Permian Resources Corporation (NYSE:PR). Shares of the Denver-based oil and gas company traded high as the energy sector rallied. Oil prices moved sharply higher in March due to the war in Iran and supply disruptions caused by the partial closure of the Strait of Hormuz.”
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 best affordable stocks to buy according to Wall Street analysts. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.
Disclosure: None. This article is originally published at Insider Monkey.
