Meridian Contrarian Fund, managed by ArrowMark Partners, stated in its second-quarter 2026 investor letter that PDF Solutions, Inc. (NASDAQ:PDFS), a data analytics company serving the semiconductor industry, was a leading contributor. The fund noted PDFS's business model transformation around 2019, leveraging AI to convert consulting expertise into scalable software products, which improved its long-term economics. Despite a recent cyclical downturn, the fund invested based on its view that PDFS's yield improvement tools will become increasingly valuable as semiconductor complexity and development costs rise. PDF Solutions shares closed at $43.46 on September 3, 2026, having declined 7.31% over the past month but gained 126.82% over the past 52 weeks, with a market capitalization of $1.89 billion. The fund trimmed its position into strength but remains invested due to a positive long-ter