Meridian Funds, managed by ArrowMark Partners, released its “Meridian Small Cap Growth Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund slightly underperformed its benchmark index, the Russell 2000 Growth Index, and returned -20.24% net at the end of the second quarter. All the sectors posted a decline during the quarter resulting in a broad-based market decline. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Meridian Funds discussed stocks like Hudson Technologies, Inc. (NASDAQ:HDSN) in the second quarter investor letter. Headquartered in Woodcliff Lake, New Jersey, Hudson Technologies, Inc. (NASDAQ:HDSN) is a refrigerant service-providing company. On September 14, 2022, Hudson Technologies, Inc. (NASDAQ:HDSN) stock closed at $7.64 per share. One-month return of Hudson Technologies, Inc. (NASDAQ:HDSN) was -24.13% and its shares gained 113.41% of their value over the last 52 weeks. Hudson Technologies, Inc. (NASDAQ:HDSN) has a market capitalization of $343.954 million.
Here is what Meridian Funds specifically said about Hudson Technologies, Inc. (NASDAQ:HDSN) in its Q2 2022 investor letter:
“Hudson Technologies, Inc. (NASDAQ:HDSN) is the market leader in recycled and reclaimed refrigerants with proprietary reclamation technology and a national distribution network. We have owned shares of the company for several years due to our belief that its leading position would allow the company to capitalize on improving supply-demand dynamics from the Environmental Protection Agency’s (EPA’s) phaseout of R22 (refrigerant used in air conditioners). The phaseout concluded in 2020 and virgin R-22 is no longer being produced. This has resulted in strong refrigerant pricing given stable demand and more limited supply. As a result, overall fundamentals have accelerated which resulted in 150% revenue growth and 45% operating margins in its most recent quarter. We are optimistic that another catalyst for growth is the AIM Act to reduce the production of hydrofluorocarbons (HFCs). Similar to the phaseout of R-22, we believe this will result in strong supply-demand dynamics for reclaimed HFC refrigerants and allow Hudson to capitalize on its market-leading position. During the quarter, we maintained our position in the stock.”
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Hudson Technologies, Inc. (NASDAQ:HDSN) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Hudson Technologies, Inc. (NASDAQ:HDSN) at the end of the second quarter which was 14 in the previous quarter.
We discussed Hudson Technologies, Inc. (NASDAQ:HDSN) in another article and shared Artko Capital LP’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
