Grow Funds, an investment Advisor, released its Q1 2026 investor letter for “GROW Small Cap Equity Long/Short Fund”. A copy of the letter can be downloaded here. In Q1 2026, GROW Small Cap Equity Long/Short L.P (Fund) returned 4.18%, outperforming the Russell 2000 Growth Index’s –2.80%, HFRI Equity Hedge Index’s -0.24%, and the HFRI Fundamental Growth Index’s 0.47% returns. Long positions and hedges, and short positions, safeguarded the portfolio amid the volatility driven by the Iran War. In addition, please check the Strategy’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Grow Funds highlighted Profound Medical Corp. (NASDAQ:PROF). Profound Medical Corp. (NASDAQ:PROF) is a Canada based commercial-stage medical device company that focuses on developing AI-powered, MRI-guided, incision-free therapeutic systems for the image guided ablation of diseased tissue. On June 18, 2026, Profound Medical Corp. (NASDAQ:PROF) closed at $6.87 per share. One-month return of Profound Medical Corp. (NASDAQ:PROF) was 0.51%, and its shares gained 8.11% over the past 52 weeks. Profound Medical Corp. (NASDAQ:PROF) has a market capitalization of $248.09 million.
Grow Funds stated the following regarding Profound Medical Corp. (NASDAQ:PROF) in its Q1 2026 investor letter:
“Profound Medical Corp. (NASDAQ:PROF) is a commercial-stage medical device company advancing incision-free, MRI-guided, and robotically-driven technologies to treat prostate cancer and benign prostatic hyperplasia (BPH). Their lead technology, TULSA-PRO®, utilizes real-time MRI and thermal ultrasound to precisely ablate prostate tissue while preserving surrounding structures, aiming to minimize side effects like incontinence and impotence. Profound currently has 78 systems at marque hospitals, with a pipeline of over 110 systems. Reimbursement to the hospital is currently higher than competitive procedures. In addition, recent results from the Captain Trial demonstrate better outcomes than radical prostatectomy which is done primarily using the DaVinci robotic surgical system developed by Intuitive Surgical. Cook Medical and Siemens recently introduced their new iMRI suite, on which TULSA-PRO procedures can be performed.”
Profound Medical Corp. (NASDAQ:PROF) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 6 hedge fund portfolios held Profound Medical Corp. (NASDAQ:PROF) at the end of the first quarter, compared to 10 in the previous quarter. While we acknowledge the risk and potential of Profound Medical Corp. (NASDAQ:PROF) 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 PROFOUND MEDICAL CORP. (NASDAQ:PROF) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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.
