Published on 19 Sep 2024 on Insider Monkey · via Yahoo Finance
Meridian Contrarian Fund Trimmed American Superconductor Corporation (AMSC)...
Meridian Funds, managed by ArrowMark Partners, released its “Meridian Contrarian Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. Major index returns increased in the quarter due to strong earnings from large-cap technology companies, especially those connected to artificial intelligence. However, the market's breadth revealed a different picture. The fund returned -5.03% (net) during the quarter underperforming the -4.27% return of the Russell 2500 Index and -4.31% 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 2024.
Meridian Contrarian Fund highlighted stocks like American Superconductor Corporation (NASDAQ:AMSC), in the second quarter 2024 investor letter. American Superconductor Corporation (NASDAQ:AMSC) is a global megawatt-scale power resiliency solutions provider. The one-month return of American Superconductor Corporation (NASDAQ:AMSC) was 3.35%, and its shares gained 188.17% of their value over the last 52 weeks. On September 11, 2024, American Superconductor Corporation (NASDAQ:AMSC) stock closed at $21.93 per share with a market capitalization of $839.827 million.