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Soumya Eswaran
Mon, June 29, 2026 astatine 11:07 AM CDT 3 min read
Meridian Funds, managed by ArrowMark Partners, released its first-quarter 2026 capitalist missive for "Meridian Contrarian Fund". The Fund aims to put successful undervalued companies with wide catalysts for sustainable improvement. A transcript of the missive tin beryllium downloaded here. The US equities marketplace started 2026 with volatility driven by commercialized argumentation uncertainty and heightened geopolitical risks. Early-period gains were attributed to assurance successful home companies and to the Federal Reserve easing. However, sentiment deteriorated pursuing accrued tariffs and subject strikes by the U.S. and Israel against Iran. During the quarter, Meridian Contrarian Fund returned 1.10% compared to the Russell 2500 Growth Index's 2.04% instrumentality and its secondary benchmark, the Russell 2500 Value Index's 4.77% return. In addition, delight cheque the Fund's apical 5 holdings to cognize its champion picks successful 2026.
In its first-quarter 2026 capitalist letter, Meridian Contrarian Fund highlighted Ranpak Holdings Corp. (NYSE:PACK). Headquartered successful Concord, Ohio, Ranpak Holdings Corp. (NYSE:PACK) provides sustainable protective packaging solutions for e-commerce and concern proviso chains. On June 26, 2026, Ranpak Holdings Corp. (NYSE:PACK) closed astatine $7.31 per share, reflecting a marketplace capitalization of $607.36 million. Ranpak Holdings Corp. (NYSE:PACK) posted a one-month instrumentality of 2.90%, and its shares gained 98.60% implicit the past 52 weeks.
Meridian Contrarian Fund stated the pursuing regarding Ranpak Holdings Corp. (NYSE:PACK) successful its Q1 2026 capitalist letter:
"Ranpak Holdings Corp. (NYSE:PACK) is simply a shaper of paper-based protective packaging solutions. The institution was an aboriginal person successful sustainable packaging products, which are superior to plastic, foam, and different communal packaging materials. We archetypal invested successful 2023 aft Ranpak's net declined owed to pugnacious ecommerce comps post-pandemic and arsenic profitability was impacted by investments successful its automation products. Our thesis was that Ranpak would proceed to summation stock successful the ample protective packaging marketplace and that the automation concern would summation traction and scope profitable scale. During the quarter, the banal performed poorly owed to brushed net results blamed connected the macro environment, and was exacerbated by higher EU vigor prices, driven by the struggle successful Iran, which volition interaction profitability for the ~45% of income that travel from that region. We trimmed our presumption during the 4th for hazard absorption purposes, but we stay shareholders owed to the ample imaginable of the automation business."
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