Overview
- Curreen Capital released its Q2 2026 investor letter on Tuesday reporting a 22.26% fund return for the quarter versus a 15.20% return for the S&P 500 index.
- The firm attributes the gain to active special-case investments, specifically a bought tender offer, a merger spinoff, and targeted investments in affordable turnaround situations.
- Curreen singled out V.F. Corporation as a turnaround candidate, saying the company has repaired its balance sheet, improved capital allocation and rebuilt management, and noting the stock closed at $14.90 on August 10 and was held by 42 hedge fund portfolios at the end of Q1.
- The letter also highlighted Fortrea as a post-spinoff recovery play, describing its contract research services business, noting it spun out of Labcorp in June 2023, and reporting an August 10 close of $18.99 with 36 hedge fund holders at the end of Q1.
- Curreen’s public naming of these names, combined with modest increases in hedge-fund ownership, suggests growing institutional interest and means investors should watch operational results and ownership trends for confirmation of sustained turnarounds.