HNST

HNST

HNST

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Aug 2, 2025	Meridian Contrarian Fund	16.4%	-	AXS, BEPC, BWXT, CCJ, DLTR, FCNCA, HNST, MIR, NVTS, PACK, PRGO, QDEL, SG	Automation, contrarian, nuclear, semiconductors, small cap, turnaround, value	Nuclear power is experiencing a structural turnaround with growing interest from governments, utilities, and major technology firms. The fund holds positions in Cameco Corp and BWX Technologies, both benefiting from the nuclear renaissance driven by uranium supply deficits and new reactor construction including small modular reactors.	QDEL PACK SG NVTS BWXT CCJ QDEL PACK SG NVTS BWXT CCO CN	View
2025 Q1	Mar 31, 2025	Meridian Contrarian Fund	-7.6%	-7.6%	AXS, BEPC, CCJ, CCK, EVRG, FCNCA, HNST, KRNT, NGD, PRGO, PSIX, RDUS, VICI	contrarian, reshoring, small caps, tariffs, turnaround, value	The fund remains focused on identifying businesses that may benefit from long-term structural shifts such as the re-shoring of U.S. manufacturing—a theme they have been investing in for several years and one that gained traction post-pandemic. They note that reshoring and supply chain realignment takes years, so it is not surprising that so far, the beneficiaries have not escaped indiscriminate market volatility.	NGD AXS RDUS CCJ KRNT HNST	View
2024 Q4	Feb 10, 2025	Meridian Contrarian Fund	1.7%	9.6%	AXS, BEPC, BWXT, CCO, CSTM, FCNCA, HNST, LEGN, LPLA, MIR, PL, PRGO, THC	aerospace, contrarian, healthcare, nuclear, small cap, turnaround, value	The fund employs a contrarian investment process seeking out-of-favor companies with depressed valuations and visible catalysts for sustainable improvement. They screen for companies with multiple quarters of year-over-year earnings decline and identify those poised for earnings rebounds through turnaround plans, new management, or business improvements.	THC CSTM LEGN PL MIR HNST	View
2023 Q4	Dec 31, 2023	Meridian Contrarian Fund	6.9%	0.0%	ALEX, AMD, APA, CACI, CCJ, CRC, FCNCA, HNST, LEGN, PINS, PRGO, SGH, TAP, THC, VICI	Biotechnology, contrarian, energy, semiconductors, small caps, turnaround, value	AMD positioned as stronger competitor to Nvidia with compelling technology and superior products to Intel. The company unveiled details about upcoming GPU products for the AI market, with expectations that AMD's GPU servers will be a viable alternative to Nvidia.	PINS HNST AMD ADNT\|APA\|BPOP\|FLR\|KOS\|OLN LEGN SGH	View
2025 Q3	Oct 24, 2025	Meridian Contrarian Fund	6.7%	-	AXS, BEPC, CACI, DLTR, EVRG, FCNCA, HNST, KRNT, LASR, MIR, NVST, PENG, PL, PRGO, TCBI	contrarian, defense, Electrification, small caps, technology, turnaround, value	AI infrastructure demand drove strong performance in technology names and data centers. Several portfolio companies benefited from AI datacenter demand, particularly in high-performance computing and memory businesses.	LASR PL KRNT PRGO HNST LASR PL KRNT PRGO HNST	View
2025 Q4	Jan 21, 2026	Meridian Contrarian Fund	2.2%	0.0%	AMD, AMSC, ATZ.TO, AXS, CACI, CCK, DLTR, FCNCA, HNST, LASR, MIR, NVST, PENG, TCBI	AI, contrarian, defense, energy, semiconductors, small cap, turnaround, value	The fund continues to see long runways supporting artificial intelligence as a core theme. AI-related earnings drove early-period performance in the quarter. AMD made progress establishing its GPU servers as a viable alternative to Nvidia's offerings in the AI space. AMD emerged from underperformance with competitive technology positioning against Intel and Nvidia. The company's GPU servers are establishing viability as alternatives to Nvidia in AI applications. Technology leadership is generating market share gains and improved profits. Defense represents one of the portfolio's core themes with long runways for growth. The fund holds positions in defense-related companies including those serving naval programs and defense electronics applications. Electric grid upgrades represent a significant growth driver for portfolio companies. American Superconductor is positioned to benefit from demand for electric grid infrastructure improvements and expanding power transmission needs. The portfolio benefits from electrification and power themes as core investment areas. Companies are positioned to capitalize on rising power demand, wind power expansion, and infrastructure investment in the energy transition.	AMD ATZ CN DLTR HNST AMSC PENG	View
2023 Q1	Mar 31, 2023	Meridian Contrarian Fund	6.9%	0.0%	AIG, AMD, APA, CARS, CCK, FCNCA, HNST	-			View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 28, 2026	Fund Letters	Meridian Contrarian Fund	The Honest Company, Inc.	Consumer Staples	Personal Products	Bull	NASDAQ	Baby Care, Brand, Consumer products, e-commerce, growth, Natural, retail, turnaround	View Pitch
Apr 13, 2026	Fund Letters	Meridian Contrarian Fund	The Honest Company, Inc.	Consumer Staples	Personal Products	Bull	NASDAQ	Baby Care, brand value, Consumer products, contrarian, manufacturing, Natural Products, supply chain, tariff impact, USMCA	View Pitch
Apr 13, 2026	Fund Letters	Meridian Contrarian Fund	The Honest Company, Inc.	Consumer Staples	Personal Products	Bull	NASDAQ	Baby Care, Beauty, Brand Equity, Consumer products, EBITDA Profitability, margin expansion, Natural Products, Skincare, turnaround	View Pitch
Jan 24, 2026	Fund Letters	James England	The Honest Company, Inc.	Consumer Staples	Household Products	Bull	NASDAQ	Babycare, Consumerbrands, Margins, restructuring, valuation	View Pitch
Nov 29, 2025	Fund Letters	James England	The Honest Company Inc.	Consumer Staples	Personal Products	Bull	NASDAQ	Brand, consumer, Distribution, guidance, Margins, recovery	View Pitch
Nov 28, 2025	Fund Letters	James England	The Honest Company Inc.	Consumer Staples	Personal Products	Bull	NASDAQ	Brand, consumer, Distribution, guidance, Margins, recovery	View Pitch

BSD Shareholders of HNST

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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