Meridian Hedged Equity Fund Decided to Sell its Holdings in Progyny (PGNY). Here’s Why

Meridian Funds, managed by ArrowMark Partners, released its “Meridian Hedged Equity Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The significant move by the FED to cut the interest rate helped the market to stabilize. In the quarter, the fund appreciated 6.19% (net), outperforming its benchmark, the S&P 500 Index, which returned 5.89%, and its secondary benchmark, the CBOE S&P 500 Buy/Write Index’s 5.54% return. It anticipates that capital preservation in bear markets will eventually play a significant role in the long-term compounding of...