Latest news with #MeridianContrarianFund
Yahoo
29-05-2025
- Business
- Yahoo
Meridian Contrarian Fund Trimmed AXIS Capital Holdings Limited (AXS) After a Strong Performance
Meridian Funds, managed by ArrowMark Partners, released its 'Meridian Contrarian Fund' first quarter 2025 investor letter. A copy of the letter can be downloaded here. U.S. equities saw their weakest quarterly performance since 2022, as uncertainty about potential tariff policies affected investor sentiment and risk assets. In this environment, the fund returned -7.59% (net) during the quarter, slightly behind the -7.50% returns of the Russell 2500 Index and underperforming the -5.83% returns of the secondary benchmark, the Russell 2500 Value Index. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Meridian Contrarian Fund highlighted stocks such as AXIS Capital Holdings Limited (NYSE:AXS). AXIS Capital Holdings Limited (NYSE:AXS) is an insurance provider that offers various specialty insurance and reinsurance products. The one-month return of AXIS Capital Holdings Limited (NYSE:AXS) was 4.16%, and its shares have appreciated by 39.34% over the past 52 weeks. On May 28, 2025, AXIS Capital Holdings Limited (NYSE:AXS) closed at $101.47 per share, with a market capitalization of $7.981 billion. Meridian Contrarian Fund stated the following regarding AXIS Capital Holdings Limited (NYSE:AXS) in its Q1 2025 investor letter: "AXIS Capital Holdings Limited (NYSE:AXS) is a global specialty insurer and reinsurer. We invested in 2020 following a period of earnings pressure tied to unfavorable underwriting results. We were initially attracted by a new management team's operational turnaround efforts, including reduced exposure to catastrophe risk and a strategic focus on high-potential areas such as cyber insurance. In 2023, a newly appointed CEO accelerated the company's repositioning, aiming to achieve top-tier performance versus peers. The stock performed well in the quarter, and we trimmed the position into strength as part of our risk management process, while maintaining a large position." A businessperson in a high-rise office building, demonstrating the protection of professional lines. AXIS Capital Holdings Limited (NYSE:AXS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held AXIS Capital Holdings Limited (NYSE:AXS) at the end of the first quarter, which was 38 in the previous quarter. While we acknowledge the potential of AXIS Capital Holdings Limited (NYSE:AXS) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered AXIS Capital Holdings Limited (NYSE:AXS) and shared the list of best property & casualty insurance stocks to buy. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
29-05-2025
- Business
- Yahoo
Here's Why Meridian Contrarian Fund is Holding Cameco Corporation (CCJ)
Meridian Funds, managed by ArrowMark Partners, released its 'Meridian Contrarian Fund' first quarter 2025 investor letter. A copy of the letter can be downloaded here. U.S. equities saw their weakest quarterly performance since 2022, as uncertainty about potential tariff policies affected investor sentiment and risk assets. In this environment, the fund returned -7.59% (net) during the quarter, slightly behind the -7.50% returns of the Russell 2500 Index and underperforming the -5.83% returns of the secondary benchmark, the Russell 2500 Value Index. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Meridian Contrarian Fund highlighted stocks such as Cameco Corporation (NYSE:CCJ). Cameco Corporation (NYSE:CCJ) is a leading uranium-producing company. One-month return of Cameco Corporation (NYSE:CCJ) was 31.27%, and its shares gained 9.08% of their value over the last 52 weeks. On May 28, 2025, Cameco Corporation (NYSE:CCJ) stock closed at $60.41 per share with a market capitalization of $26.34 billion. Meridian Contrarian Fund stated the following regarding Cameco Corporation (NYSE:CCJ) in its Q1 2025 investor letter: "Cameco Corporation (NYSE:CCJ) is a global leader in the mining, fabrication, and refinement of uranium products for nuclear power plants around the world. We view the company as a best-in-class operator with world-leading reserves and a low-cost profile. Cameco had been out of favor for many years following the 2011 Fukushima nuclear disaster, but became increasingly attractive as global uranium production declined below demand. We invested in 2020, believing uranium prices would recover and that there was upside optionality in the potentially resurgent interest in nuclear power. While the stock performed strongly in 2024, it weakened in the quarter as uranium stocks had become tied to the power-hungry AI data center trade. As such, the stock's volatility far exceeded its fundamentals. Our position was unchanged during the quarter as we continue to base our investment on a 5- to 10-year investment thesis." A close up of the reactor core, highlighting the complexity of the uranium power process. Cameco Corporation (NYSE:CCJ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 58 hedge fund portfolios held Cameco Corporation (NYSE:CCJ) at the end of the first quarter, which was 65 in the previous quarter. While we acknowledge the potential of Cameco Corporation (NYSE:CCJ) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered Cameco Corporation (NYSE:CCJ) and shared Aristotle Capital Global Equity Strategy's views on the company. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
29-05-2025
- Business
- Yahoo
Surge in Gold Prices Lifted New Gold (NGD)
Meridian Funds, managed by ArrowMark Partners, released its 'Meridian Contrarian Fund' first quarter 2025 investor letter. A copy of the letter can be downloaded here. U.S. equities saw their weakest quarterly performance since 2022, as uncertainty about potential tariff policies affected investor sentiment and risk assets. In this environment, the fund returned -7.59% (net) during the quarter, slightly behind the -7.50% returns of the Russell 2500 Index and underperforming the -5.83% returns of the secondary benchmark, the Russell 2500 Value Index. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Meridian Contrarian Fund highlighted stocks such as New Gold Inc. (NYSEAMERICAN:NGD). Headquartered in Toronto, Canada, New Gold Inc. (NYSEAMERICAN:NGD) is a gold mining company. The one-month return of New Gold Inc. (NYSEAMERICAN:NGD) was 12.53%, and its shares have appreciated by 97.95% over the past 52 weeks. On May 28, 2025, New Gold Inc. (NYSEAMERICAN:NGD) closed at $4.40 per share, with a market capitalization of $3.48 billion. Meridian Contrarian Fund stated the following regarding New Gold Inc. (NYSEAMERICAN:NGD) in its Q1 2025 investor letter: "New Gold Inc. (NYSEAMERICAN:NGD) is a mid-tier gold miner with potentially favorable Canadian-based mining assets. The stock had long underperformed due to past operational missteps and capital allocation issues. However, a new CEO appointed in 2022 launched a comprehensive turnaround, including a strengthened management team and renewed operational discipline that would take advantage of its favorable mining properties, including its New Alton mine. Despite a neutral stance on gold prices, we viewed the company's efforts to unlock value from its core assets as a catalyst for differentiation. The stock appreciated during the period as gold prices reached new highs on geopolitical uncertainty. We increased our position early in the quarter as internal execution improved and gold miners lagged the commodity price." Aerial view of an open mine with large cranes and excavators working on the surface. New Gold Inc. (NYSEAMERICAN:NGD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held New Gold Inc. (NYSEAMERICAN:NGD) at the end of the first quarter, which was 26 in the previous quarter. While we acknowledge the potential of New Gold Inc. (NYSEAMERICAN:NGD) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered New Gold Inc. (NYSEAMERICAN:NGD) and shared the list of best multibagger penny stocks to buy according to billionaires. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Error al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
Yahoo
29-05-2025
- Business
- Yahoo
Concerns About Consumer Demand and Potential Tariff Impacted The Honest Company (HNST)
Meridian Funds, managed by ArrowMark Partners, released its 'Meridian Contrarian Fund' first quarter 2025 investor letter. A copy of the letter can be downloaded here. U.S. equities saw their weakest quarterly performance since 2022, as uncertainty about potential tariff policies affected investor sentiment and risk assets. In this environment, the fund returned -7.59% (net) during the quarter, slightly behind the -7.50% returns of the Russell 2500 Index and underperforming the -5.83% returns of the secondary benchmark, the Russell 2500 Value Index. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Meridian Contrarian Fund highlighted stocks such as The Honest Company, Inc. (NASDAQ:HNST). Headquartered in Los Angeles, California, The Honest Company, Inc. (NASDAQ:HNST) manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The one-month return of The Honest Company, Inc. (NASDAQ:HNST) was 4.12%, and its shares gained 84.88% of their value over the last 52 weeks. On May 28, 2025, The Honest Company, Inc. (NASDAQ:HNST) stock closed at $4.88 per share, with a market capitalization of $552.839 million. Meridian Contrarian Fund stated the following regarding The Honest Company, Inc. (NASDAQ:HNST) in its Q1 2025 investor letter: "The Honest Company, Inc. (NASDAQ:HNST) is a consumer products company specializing in natural baby-care consumables, cosmetics, soaps, and other household supplies. We initially invested in Honest as a contrarian investment opportunity, following post-pandemic supply chain disruptions, seeing value in the brand's authenticity and in its history of generating growth in the face of operational challenges. Despite reporting quarterly results above expectations, the stock declined due to concerns about consumer demand and potential tariff impacts. Honest manufacturers diapers in Mexico, which is USMCA compliant, and baby and cleaning wipes in China. Management has demonstrated agility in adapting supply chains, as witnessed when it re-sourced its diaper portfolio in 2024." A close up of different packs of diapers and wipes, demonstrating the company's main product range. The Honest Company, Inc. (NASDAQ:HNST) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held The Honest Company, Inc. (NASDAQ:HNST) at the end of the first quarter, which was 25 in the previous quarter. In Q1 2025, The Honest Company, Inc. (NASDAQ:HNST) reported $97 million in revenues, up 13% from Q1 2024. While we acknowledge the potential of The Honest Company, Inc. (NASDAQ:HNST) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered The Honest Company, Inc. (NASDAQ:HNST) and shared the list of best cosmetics stocks to buy for 2025. In its Q4 2024 investor letter, Meridian Contrarian Fund highlighted its belief in The Honest Company, Inc.'s (NASDAQ:HNST) growth potential. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey.
