Meridian Growth Fund 2025 Q3 (SPT)
Pitch Summary: Sprout Social, Inc. provides a leading platform that enables businesses to manage, monitor, and optimize their social media presence. The company’s platform is recognized for its intuitive design, ease of deployment, and direct integrations across major social networks—features that underpin its competitive advantage. Despite delivering results ahead of expectations, the stock underperformed during […]
Meridian Growth Fund 2025 Q3 (ALIT)
Pitch Summary: Alight, Inc. is a leading cloud-based human capital technology provider of enterprise-level software that helps businesses and their employees manage critical human resources functions. Through its investments in software and automation, Alight has built a distinct advantage that allows its customers to deliver HR services at a much lower cost while providing a […]
Meridian Small Cap Growth Fund 2025 Q3 (ALIT)
Pitch Summary: Alight underperformed during the quarter following disappointing sales and lowered revenue guidance. Its year-long technology transformation—including migrating services to the cloud and integrating AI—proved more disruptive than expected. Customer retention declined from ~98% to ~93%, while execution challenges and a weak macro backdrop dampened sales. Despite cost controls stabilizing EBITDA, management warned that […]
First Eagle Global Fund 2025 Q3 (CRM)
Pitch Summary: Shares of enterprise software developer Salesforce traded down after the company provided lower-than-expected forward sales guidance during its most recent earnings release. This prompted concerns about the company’s transformation from a software-as-a-service (SaaS) business to an AI-powered enterprise business (its Agentforce platform) and an overall slowdown in revenue growth. We believe that Salesforce […]
NCG Large Cap Growth Strategy 2025 Q3 (MDB)
Pitch Summary: MongoDB was added as a new position during the quarter. The company offers a differentiated cloud-native database that enables flexibility and scalability for modern software applications. The fund sees MongoDB benefiting from secular data growth and developer adoption. BSD Analysis: MongoDB remains the leading independent database company with accelerating adoption of its cloud […]
Meridian Growth Fund (SPT)
Pitch Summary: Sprout Social, Inc. provides a leading platform that enables businesses to manage, monitor, and optimize their social media presence. The company’s platform is recognized for its intuitive design, ease of deployment, and direct integrations across major social networks—features that underpin its competitive advantage. Despite delivering results ahead of expectations, the stock underperformed during […]
First Eagle Global Fund (CRM)
Pitch Summary: Shares of enterprise software developer Salesforce traded down after the company provided lower-than-expected forward sales guidance during its most recent earnings release. This prompted concerns about the company’s transformation from a software-as-a-service (SaaS) business to an AI-powered enterprise business (its Agentforce platform) and an overall slowdown in revenue growth. We believe that Salesforce […]
