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...