Turtle Creek Asset Management, an investment management company, recently published its Q1 2026 report. A copy is available to download here. Turtle Creek Asset Management’s Q1 2026 report covers key market factors currently at play. The escalation of the Iran conflict has pushed oil and gas prices higher, while AI’s impact on various sectors, especially enterprise software, continues to grow. The firm increased rebalancing activity in the quarter amid heightened market volatility and the momentum in AI-related trades. In this environment, Turtle Creek Equity Fund returned -4.8% for the quarter. Additionally, you can review the Portfolio’s top 5 holdings to see its best picks for 2026.
In its first-quarter 2026 investor letter, Turtle Creek Asset Management highlighted Medpace Holdings, Inc. (NASDAQ:MEDP). Medpace Holdings, Inc. (NASDAQ:MEDP) is a clinical research-based drug and medical device development services provider. The one-month return of Medpace Holdings, Inc. (NASDAQ:MEDP) was 6.28%, and its shares gained 51.01% of their value over the last 52 weeks. On June 17, 2026, Medpace Holdings, Inc. (NASDAQ:MEDP) stock closed at $475.07 per share, with a market capitalization of about $13.05 billion.
Turtle Creek Asset Management stated the following regarding Medpace Holdings, Inc. (NASDAQ:MEDP) in its Q1 2026 investor letter:
“Two new companies were added to the TCEF portfolio during the quarter, and one removed, to finish the quarter at 30 holdings: • Medpace Holdings, Inc. (NASDAQ:MEDP) is a global clinical contract research organization (CRO) with a highly differentiated strategy. The company focuses on small and mid-sized biopharma companies with a full-service offering, while its public CRO peers mainly focus on Big Pharma with lower margin, functional service work. Medpace partners with the biotech company, guiding them through the complexities of human trials and ultimate commercialization. Medpace’s clinician led, high-science model utilizes full time MDs and PhDs to develop deeper therapeutic expertise in complex areas. It is founder run and has a history of high growth and significant cash flow generation. Their approach to capital allocation is also special – they are very opportunistic in their share repurchases. When their share price is high, they amass cash – and when their share price is low, they deploy it, even drawing on their line of credit at times. Last year, they repurchased just under 10% of their outstanding shares.”
Medpace Holdings, Inc. (NASDAQ:MEDP) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 45 hedge fund portfolios held Medpace Holdings, Inc. (NASDAQ:MEDP) at the end of the first quarter, compared to 52 in the previous quarter. In Q1 2026, Medpace Holdings, Inc. (NASDAQ:MEDP) reported revenue of $706.6 million, an increase of 26.5% year-over-year. While we acknowledge the risk and potential of Medpace Holdings, Inc. (NASDAQ:MEDP) 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 MEDPACE HOLDINGS, INC. (NASDAQ:MEDP) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Medpace Holdings, Inc. (NASDAQ:MEDP) and shared Madison Small Cap Fund’s insights on the company. 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.
