Meridian Contrarian Fund trimmed its position in AXIS Capital Holdings Limited after a strong performance.
From Yahoo Finance: 2025-05-29 10:04:00
Meridian Funds, managed by ArrowMark Partners, reported a negative return of -7.59% in the first quarter of 2025, slightly underperforming market indices. The fund’s top five holdings for 2025 can be found in its investor letter.
One of the highlighted stocks in the first-quarter letter was AXIS Capital Holdings Limited (NYSE:AXS), an insurance provider with a one-month return of 4.16% and a 52-week appreciation of 39.34%. On May 28, 2025, AXIS Capital Holdings Limited (NYSE:AXS) closed at $101.47 per share with a market cap of $7.981 billion.
Meridian Contrarian Fund’s Q1 2025 investor letter praised AXIS Capital Holdings Limited (NYSE:AXS) for its operational turnaround efforts and strategic focus on areas like cyber insurance. Despite not being a top pick among hedge funds, the stock performed well in the quarter, prompting the fund to trim its position while maintaining a large stake.
Read more at Yahoo Finance: Meridian Contrarian Fund Trimmed AXIS Capital Holdings Limited (AXS) After a Strong Performance