Polaris Industries, Inc. (PII) is a leading manufacturer of recreational vehicles such as ATVs, snowmobiles, and motorcycles. We invested in this company several years ago during a cyclical disruption to their business. We were attracted to their opportunity to gain share with several new manufacturing initiatives as well as new growth markets. The company has executed almost flawlessly and the stock has been a strong contributor to the portfolio.
From Meridian Funds's semi-annual report ended December 31, 2013.
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