Meridian Funds, managed by ArrowMark Partners, released its “Meridian Contrarian Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 8.78% net compared to a 7.43% return for the Russell 2500 Index. Furthermore, the fund underperformed its secondary benchmark, the Russell 2500 Value Index, which returned 9.21%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Meridian Contrarian Fund highlighted stocks like Univar Solutions Inc. (NYSE:UNVR) in its Q4 2022 investor letter. Headquartered in Downers Grove, Illinois, Univar Solutions Inc. (NYSE:UNVR) is a chemical products distribution company. On March 23, 2023, Univar Solutions Inc. (NYSE:UNVR) stock closed at $34.60 per share. One-month return of Univar Solutions Inc. (NYSE:UNVR) was -0.17%, and its shares gained 3.59% of their value over the last 52 weeks. Univar Solutions Inc. (NYSE:UNVR) has a market capitalization of $5.452 billion.
Meridian Contrarian Fund made the following comment about Univar Solutions Inc. (NYSE:UNVR) in its Q4 2022 investor letter:
“Univar Solutions Inc. (NYSE:UNVR) is the second largest distributor of industrial and specialty chemicals in the world, serving as a key logistics and sourcing partner across the coatings and lubricants industries and, increasingly, in the food and pharmaceutical industries. Following several years of volatile results as management took a variety of steps to sharpen Univar’s strategy, including divesting several commodity businesses, revamping sales practices to a consultative approach, and integrating a singular enterprise resource planning platform. During the quarter, the stock rallied as the company delivered a strong set of operational results and was the subject of an acquisition rumor. As we anticipate more operational success, we maintained our exposure.”
Univar Solutions Inc. (NYSE:UNVR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Univar Solutions Inc. (NYSE:UNVR) at the end of the fourth quarter which was 31 in the previous quarter.
We discussed Univar Solutions Inc. (NYSE:UNVR) in another article and shared the list of best US chemical stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.