1 month ago
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Soumya Eswaran
Thu, July 30, 2026 astatine 8:17 AM CDT 3 min read
Meridian Funds, managed by ArrowMark Partners, released its second-quarter 2026 capitalist missive for "Meridian Small Cap Growth Fund". A transcript of the missive tin beryllium downloaded here. The U.S. marketplace saw a beardown rally successful the 2nd quarter, fueled by easing geopolitical tensions, falling lipid prices, and robust firm earnings. Growth stocks, particularly successful exertion and healthcare, led the charge, supported by AI-related investments from hyperscalers that added momentum. Meanwhile, accepted harmless havens similar golden declined. In this context, the Meridian Small Cap Growth Fund (the "Fund") achieved a 21.54% instrumentality for the 4th ending June 30, 2026. This lagged down its benchmark, the Russell 2000 Growth Index, which gained 25.71%, owed to origin and benignant headwinds—as high-beta and momentum stocks soared, its lower-volatility, quality-focused holdings underperformed. The Fund continues to prioritize prime businesses, hazard management, and downside protection, with portfolio adjustments driven by strategical allocation alternatively than weaknesses successful idiosyncratic holdings. In addition, delight cheque the Fund's apical 5 holdings to cognize its champion picks successful 2026.
In its Q2 2026 capitalist letter, Meridian Small Cap Growth Fund highlighted Veracyte, Inc. (NASDAQ:VCYT). Veracyte, Inc. (NASDAQ:VCYT), a planetary diagnostic company, contributed to the fund's show during the quarter. On July 29, 2026, Veracyte, Inc. (NASDAQ:VCYT) closed astatine $55.71 per share, reflecting a marketplace capitalization of $4.44 billion. Veracyte, Inc. (NASDAQ:VCYT) posted a one-month instrumentality of -2.40%, portion its shares gained 136.96% implicit the past 52 weeks.
Meridian Small Cap Growth Fund stated the pursuing regarding Veracyte, Inc. (NASDAQ:VCYT) successful its Q2 2026 capitalist update:
"Veracyte, Inc. (NASDAQ:VCYT) is simply a profitable genomic diagnostics institution anchored by its Decipher prostate crab trial and Afirma thyroid test, supported by a heavy basal of proprietary objective evidence. We ain it for its durable, volume-driven investigating revenue, expanding menu, and a defensible competitory moat built implicit much than a decennary of grounds generation. Shares precocious sharply during the 4th aft a beardown net bushed and raised full-year guidance, underpinned by continued double-digit measurement maturation successful Decipher and improved Afirma show pursuing a workflow upgrade that reduced its no-result rate. Two upcoming launches—Prosigna successful bosom crab and the TrueMRD level successful bladder cancer—together with a dependable cadence of objective data, reinforced assurance successful a multi-year maturation runway."
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