Meridian Funds, managed by ArrowMark Partners, released its third-quarter 2025 investor letter for the Meridian Contrarian Fund. The fund returned 6.72% (net) during the quarter, underperforming the Russell 2500 Index and Russell 2500 Value Index. Equities hit record highs, driven by tech gains and falling bond yields, with the U.S. Federal Reserve lowering rates by 25 basis points in mid-September.

Penguin Solutions, Inc. (NASDAQ: PENG) was highlighted in the investor letter as a leading enterprise solutions provider. The stock’s one-month return was -6.32%, with shares gaining 3.49% over the last 52 weeks. On December 01, 2025, Penguin Solutions, Inc. (NASDAQ: PENG) closed at $20.16 per share, with a market cap of $1.066 billion.

Meridian Contrarian Fund’s third-quarter 2025 investor letter discussed Penguin Solutions, Inc. (NASDAQ: PENG) as a diversified technology company in the computing, memory, and LED industries. The fund initially invested in 2020 during an earnings decline, volatility in the memory business, order delays in high-performance computing, and dilutive investments in new products.

Penguin Solutions, Inc. (NASDAQ: PENG) is not among the 30 Most Popular Stocks Among Hedge Funds. However, 29 hedge fund portfolios held the stock at the end of the third quarter. In the fourth quarter of fiscal 2025, Penguin Solutions, Inc. (NASDAQ: PENG) reported revenue of $338 million, a 9% year-over-year increase. While acknowledging its potential, the fund believes certain AI stocks offer greater upside potential and less downside risk.

Read more at Yahoo Finance: Insights into the Tech Landscape of Penguin Solutions (PENG)