US-based investment company, McIntyre Partnerships, returned -19% gross and -20% net in the first quarter of 2026 compared to the Russell 2000 Value Index’s 5% return. A copy of the letter can be downloaded here. Since inception, the fund has returned ~14% gross and ~10% net per annum, surpassing the benchmark’s return of ~7% per annum. The Q1 results were disappointing for the fund, primarily due to a significant decline in the shares of life science tools and medical device stocks, in which the fund has substantial investments, as well as specific issues related to QDEL, a company in the life science tools sector. By the end of the month, the fund’s exposure was recorded at 123% long, 27% short, and 97% net. In addition, you can check the Strategy’s top 5 holdings to determine its best picks for 2026.
In its first-quarter 2026 investor letter, McIntyre Partnerships highlighted Star Holdings (NASDAQ:STHO). Star Holdings (NASDAQ:STHO) is a real estate company that engages in non-ground lease-related businesses. On June 1, 2026, Star Holdings (NASDAQ:STHO) closed at $8.88 per share. One-month return of Star Holdings (NASDAQ:STHO) was 3.62%, and its shares gained 22.48% over the past 52 weeks. Star Holdings (NASDAQ:STHO) has a market capitalization of $107.35 million.
McIntyre Partnerships stated the following regarding Star Holdings (NASDAQ:STHO) in its Q1 2026 investor letter:
“In the losers column, FTRE, SHC, SWIM, and Star Holdings (NASDAQ:STHO) lost 100-500bps, and QDEL lost over 500bps. STHO fell modestly during the quarter for no particular reason. STHO is the second largest position in the fund. They recently received full repayment from a seller-financed JV and are now in a net cash position. STHO has now repurchased ~10% of the shares outstanding over the last 12 months, and I anticipate capital returns will accelerate now that the JV has been exited.”
Star Holdings (NASDAQ:STHO) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 14 hedge fund portfolios held Star Holdings (NASDAQ:STHO) at the end of the first quarter, compared to 15 in the previous quarter. While we acknowledge the risk and potential of Star Holdings (NASDAQ:STHO) 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 Star Holdings (NASDAQ:STHO) 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.
