2 weeks ago
10
Soumya Eswaran
Mon, August 10, 2026 astatine 11:02 AM CDT 4 min read
US-based concern institution McIntyre Partnerships delivered level show successful H1 2026, returning 0% gross and -1% nett compared to the Russell 2000 Value Index's 23% return. A transcript of the missive tin beryllium downloaded here. The 2nd 4th results were a implicit reversal of Q1 results, with the portfolio appreciating 23.0% (gross) and 23.3% (net), outperforming the index's 17.3%. The wide marketplace surge contributed to this performance, alongside respective affirmative developments related to the firm's holdings. Since inception, the money has returned ~16% gross and ~12% nett per annum, surpassing the benchmark's instrumentality of ~9% per annum. The portfolio is highly concentrated, with QDEL arsenic the largest holding, creating volatility. Despite mixed results, the steadfast remains assured successful the portfolio, peculiarly with QDEL viewed arsenic a cardinal concern opportunity. Potential for further maturation is expected from respective ample investments with promising catalysts. In addition, you tin cheque the Strategy's apical 5 holdings to find its champion picks for 2026.
In its Q2 2026 capitalist letter, McIntyre Partnerships highlighted Sotera Health Company (NASDAQ:SHC). Sotera Health Company (NASDAQ:SHC) is simply a US-based institution that provides sterilization solutions, laboratory testing, and advisory services for the healthcare industry. On August 7, 2026, Sotera Health Company (NASDAQ:SHC) closed astatine $18.86 per share, reflecting a marketplace capitalization of $5.38 billion. Sotera Health Company (NASDAQ:SHC) posted a one-month instrumentality of 5.04%, portion its shares gained 25.61% implicit the past 52 weeks.
McIntyre Partnerships stated the following regarding Sotera Health Company (NASDAQ:SHC) successful its Q2 2026 capitalist letter:
"Sotera Health Company (NASDAQ:SHC) saw affirmative Q1 results, with the cardinal Sterigenics conception continuing its instrumentality to HSD integrated maturation pursuing the COVID destocking successful 2023 and 2024. Further, SHC besides had affirmative ineligible quality regarding its Georgia litigation, wherever the justice threw retired 5 lawsuits with reasoning that implies the remaining 450 cases are apt to beryllium rejected arsenic well. While I judge the judge's ruling implies existent liability is sub-$50MM, I estimation a worst-case $400k per lawsuit settlement, oregon $180MM, adjacent if appeals reverse the decision. This compares to SHC's 2026 EBITDA of ~$640MM. The institution besides saw a CEO transition, with its long-time CEO transitioning to Executive Chairman and the hiring of CEO Shader from Viant, a aesculapian instrumentality services institution wherever helium served arsenic CEO. We are encouraged that erstwhile CEO Petras remains connected the committee and intends to play an progressive relation successful ensuring a creaseless transition.
Finally, and astir importantly, pursuing Q1 earnings, SHC's erstwhile backstage equity owners sold the past of their shares. I judge the PE firms' selling pressure, via predictable quarterly artifact trades, has been a sizeable overhang connected SHC's shares implicit the past year. With this overhang gone, I judge SHC is good positioned to reweight towards peers. I estimation SHC tin gain ~$1.30 successful 2028, and an in-line valuation with akin maturation med instrumentality companies would connote ~25x P/E, astir treble the existent stock price."
English (CA) · 
English (US) · 
Spanish (MX) ·