3 weeks ago
9
Soumya Eswaran
Mon, May 25, 2026 astatine 7:29 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 elevated volatility amid 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 Globalfoundries Inc. (NASDAQ:GFS). Globalfoundries Inc. (NASDAQ:GFS) is simply a starring semiconductor foundry that offers wafer fabrication services and technologies. On May 22, 2026, Globalfoundries Inc. (NASDAQ:GFS) closed astatine $85.64 per share. One-month instrumentality of Globalfoundries Inc. (NASDAQ:GFS) was 41.91%, and its shares gained 134.31% implicit the past 52 weeks. Globalfoundries Inc. (NASDAQ:GFS) has a marketplace capitalization of $47.65 billion.
Meridian Growth Fund stated the pursuing regarding Globalfoundries Inc. (NASDAQ:GFS) successful its Q1 2026 capitalist letter:
"Globalfoundries Inc. (NASDAQ:GFS) is simply a specialty semiconductor foundry with differentiated manufacturing capabilities and a geographically strategical accumulation footprint extracurricular of China and Taiwan. The institution is well-positioned to payment from a structural premix displacement toward secularly increasing extremity markets including information center, outer communications, automotive, and borderline AI applications. Shares precocious meaningfully during the 4th arsenic the institution delivered beardown results that confirmed the inflection successful maturation and margins, with its silicon photonics concern emerging arsenic a peculiarly compelling maturation driver. Management’s constructive outlook for continued gross acceleration reinforced the thesis."
Globalfoundries Inc. (NASDAQ:GFS) is not connected our database of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 37 hedge money portfolios held Globalfoundries Inc. (NASDAQ:GFS) astatine the extremity of the 4th quarter, up from 27 successful the erstwhile quarter. In Q1 2026 Globalfoundries Inc. (NASDAQ:GFS) reported gross of $1.63 billion, down 11% sequentially and up 3.1% year-over-year. While we admit the imaginable of Globalfoundries Inc. (NASDAQ:GFS) 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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