Voss Capital’s Q1 2026 Investor Letter

Voss Capital, LLC, an investment management company, released its first-quarter 2026 investor letter. Voss Capital’s funds, Voss Value Fund, LP, and the Voss Value Offshore Fund, Ltd returned -11.4% and -11.5%, respectively, to investors net of fees and expenses, in the first quarter compared to a +0.9% return for the Russell 2000 Index, +5.0% return for the Russell 2000 Value Index, and -4.3% return for the S&P 500 Index. The Voss Value Master Fund’s total gross exposure stood at 183.2%, and the delta-adjusted exposure was 82.1% as of March 31, 2026. In the first quarter, the economic and political climate led to significant fluctuations in the stock market. Consumer sentiment remains low despite market strength and high growth expectations in a K-shaped economy. Capital flows between semiconductor, AI hardware, and other sectors have shifted market momentum, with record implied volatility, creating a volatile and complex investment environment. In addition, you can check the firm’s top 5 holdings to determine its best picks for 2026.

A copy of Voss Capital’s Q1 2026 investor letter can be downloaded here.