1 week ago
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Soumya Eswaran
Thu, January 29, 2026 astatine 6:23 AM CST 3 min read
Meridian Funds, managed by ArrowMark Partners, released its “Meridian Contrarian Fund” fourth-quarter 2025 capitalist letter. A transcript of the aforesaid tin beryllium downloaded here. U.S. equity markets experienced a 4th supported by optimism astir imaginable monetary easing and caution related to economical maturation and valuations. Early gains were driven by beardown AI-related net and the US Federal Reserve’s complaint chopped successful October, which improved expectations for fiscal conditions. However, marketplace sentiment cooled aboriginal successful the quarter. Despite this moderation, the 4th contributed positively to robust yearly results. Value stocks outperformed growth, returning 3.3% versus 1.2% for the quarter. Against this backdrop, the Fund delivered a instrumentality of 2.18% (net) successful the quarter, underperforming the Russell 2500 Index’s 2.22% instrumentality and the secondary benchmark, the Russell 2500 Value Index’ 3.15% return. As the marketplace heads into 2026, the steadfast is intimately watching factors that whitethorn impact marketplace returns, including monetary argumentation changes with a caller Fed Chair and the sustainability of AI investments owed to precocious valuations among hyperscalers. In the unpredictable backdrop, the steadfast concentrates connected its systematic and accordant concern approach, which aims to pinpoint opportunities successful companies that tin execute beardown show careless of macroeconomic factors. In addition, delight cheque the Fund’s apical 5 holdings to cognize its champion picks successful 2025.
In its fourth-quarter 2025 capitalist letter, Meridian Contrarian Fund highlighted American Superconductor Corporation (NASDAQ:AMSC) arsenic 1 of its starring comparative detractors. American Superconductor Corporation (NASDAQ:AMSC) is simply a starring megawatt-scale powerfulness resiliency solutions company. American Superconductor Corporation (NASDAQ:AMSC) shares traded betwixt $13.98 and $70.49 implicit the past 52 weeks. On January 28, 2026, American Superconductor Corporation (NASDAQ:AMSC) banal closed astatine $31.82 per share. One-month instrumentality of American Superconductor Corporation (NASDAQ:AMSC) was 10.56%. American Superconductor Corporation (NASDAQ:AMSC) has a marketplace capitalization of astir $1.44 billion.
Meridian Contrarian Fund stated the pursuing regarding American Superconductor Corporation (NASDAQ:AMSC) successful its 4th fourth 2025 capitalist letter:
"American Superconductor Corporation (NASDAQ:AMSC) designs and manufactures powerfulness electronics and power systems for energy transmission, distribution, and infrastructure. End markets see electrical grids, upwind power, industrial, and naval. Our screening process identified the institution respective years agone erstwhile its largest lawsuit astatine the time, a Chinese upwind turbine manufacturer, stole its IP, resulting successful a 75% gross decline. Our concern thesis was that the rebuilt company, pursuing an IP litigation victory, was successful a bully presumption to resume net maturation with important upside imaginable driven by request for electrical grid upgrades, expanding upwind power, and naval programme wins. While the concern has been highly profitable for the strategy overall, the banal underperformed during the 4th arsenic maturation slowed against hard year-over-year comparisons. Having reduced the presumption earlier successful the year, we maintained our holding during the play arsenic we proceed to spot semipermanent maturation imaginable from rising powerfulness request and infrastructure investment."
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