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Soumya Eswaran
Fri, May 22, 2026 astatine 8:48 AM CDT 3 min read
Meridian Funds, managed by ArrowMark Partners, released its first-quarter 2026 capitalist missive for “Meridian Growth Fund”. A transcript of the missive tin beryllium downloaded here. The US equity marketplace started 2026 with volatility owed to commercialized argumentation uncertainty and geopolitical risks. Initial optimism from home institution assurance and the Federal Reserve easing waned pursuing accrued tariffs and subject strikes against Iran. The worth outperformed crossed the full market-cap spectrum. Against this backdrop, the Meridian Growth Fund (the “Fund”) returned -7.90%, trailing the Russell 2500 Growth Index benchmark, which returned -3.52%. The underperformance was driven by manufacture allocation effects, portion banal enactment was a meaningful affirmative contributor. 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 Growth Fund highlighted stocks similar DraftKings Inc. (NASDAQ:DKNG). DraftKings Inc. (NASDAQ:DKNG) is an American integer sports amusement and gaming company. On May 21, 2026, DraftKings Inc. (NASDAQ:DKNG) closed astatine $25.40 per share. One-month instrumentality of DraftKings Inc. (NASDAQ:DKNG) was 7.51%, and its shares mislaid 32.33% implicit the past 52 weeks. DraftKings Inc. (NASDAQ:DKNG) has a marketplace capitalization of $11.86 billion.
Meridian Growth Fund stated the pursuing regarding DraftKings Inc. (NASDAQ:DKNG) successful its Q1 2026 capitalist letter:
"DraftKings Inc. (NASDAQ:DKNG) is simply a starring integer sports amusement and gaming institution operating crossed online sportsbook and iGaming platforms. The institution is leveraging its scale, technology, and marque to thrust profitable maturation arsenic sports betting legalizes crossed further states. Shares declined sharply during the 4th aft absorption provided cautious gross guidance that fell meaningfully beneath statement expectations, reigniting concerns astir emerging contention from prediction markets. We judge the guidance conservatism is deliberate, reflecting management’s effort to instrumentality to a accordant beat-and-raise cadence, and that the semipermanent accidental successful online gaming and prediction markets remains substantial."
DraftKings Inc. (NASDAQ:DKNG) is not connected our database of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 72 hedge money portfolios held DraftKings Inc. (NASDAQ:DKNG) astatine the extremity of the 4th quarter, up from 68 successful the erstwhile quarter. While we admit the imaginable of DraftKings Inc. (NASDAQ:DKNG) arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.
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