Meridian Hedged Equity Fund returned 0.08% net in Q1, beating the S&P 500’s 4.33% decline amid geopolitical tensions and Fed policy shifts.
Equinix (EQIX) closed at $1,091.30 on June 26, 2026, as a top contributor to Meridian Hedged Equity Fund’s Q1 2026 performance. The fund, which blends growth stocks with covered call options, returned 0.08% net for the quarter, outperforming the S&P 500’s 4.33% drop and the CBOE S&P 500 BuyWrite Index’s 0.92% decline.
Market conditions shifted in Q1 due to rising geopolitical risks, including an oil price surge after a late-February strike on Iran, and reduced expectations for Federal Reserve rate cuts. Investors rotated from large-cap tech to smaller, defensive value stocks, creating a challenging environment for equities.
At quarter-end, 43% of the fund’s portfolio remained unhedged, while the rest held covered call positions. Equinix, a digital infrastructure provider, was highlighted as a key driver of performance amid the broader market downturn.