Meridian Small Cap Growth Fund’s Q4 2025 Investor Letter

Meridian Funds, managed by ArrowMark Partners, released its fourth-quarter 2025 investor letter for “Meridian Small Cap Growth Fund”. U.S. equity markets navigated a quarter supported by optimism about potential monetary easing and caution regarding economic growth and valuations. Early gains were driven by strong AI-related earnings and the US Federal Reserve’s rate cut in October, which improved expectations for financial conditions. However, market sentiment cooled later in the quarter. Despite this moderation, the quarter contributed positively to robust annual results. Small caps delivered an annual return of 12.8% with a 2.2% Q4 gain. Value outperformed growth as per the Russell family of indices. In Q4 2025, The Meridian Small Cap Growth Fund returned 0.90% (net) compared to the Russell 2000 Growth Index’s 1.22% return. In addition, please check the Fund’s top five holdings to know its best picks in 2025.

A copy of Meridian Small Cap Growth Fund’s Q4 2025 investor letter can be downloaded here.