Meridian Growth Fund
Schedule of Investments
Schedule of Investments
September 30, 2020 (Unaudited)
Shares | Value | |
Common Stocks - 95.7% | ||
Communication Services - 3.7% | ||
Entertainment - 0.3% | ||
Cinemark Holdings, Inc. 1 | 531,389 | $5,313,890 |
Interactive Media & Services - 3.4% | ||
Cargurus, Inc. 2 | 362,805 | 7,847,472 |
Pinterest, Inc. Class A 2 | 954,347 | 39,614,944 |
Vroom, Inc. Acquisition Date: 11/21/19, Cost $5,499,794 2,3 | 404,500 | 17,803,259 |
65,265,675 | ||
Total Communication Services | 70,579,565 | |
Consumer Discretionary - 13.0% | ||
Auto Components - 0.4% | ||
Fox Factory Holding Corp. 1,2 | 91,309 | 6,786,998 |
Diversified Consumer Services - 2.1% | ||
frontdoor, Inc. 2 | 765,499 | 29,785,566 |
Grand Canyon Education, Inc. 2 | 130,932 | 10,466,704 |
40,252,270 | ||
Internet & Direct Marketing Retail - 1.3% | ||
Shutterstock, Inc. | 468,181 | 24,364,139 |
Leisure Products - 0.7% | ||
Polaris, Inc. | 140,279 | 13,233,921 |
Specialty Retail - 1.7% | ||
Sally Beauty Holdings, Inc. 1,2 | 3,766,212 | 32,728,382 |
Textiles, Apparel & Luxury Goods - 6.8% | ||
Carter's, Inc. 1 | 276,264 | 23,918,937 |
Hanesbrands, Inc. 1 | 3,664,080 | 57,709,260 |
Skechers U.S.A., Inc. Class A 2 | 1,540,680 | 46,559,350 |
128,187,547 | ||
Total Consumer Discretionary | 245,553,257 | |
Financials - 2.0% | ||
Banks - 0.5% | ||
Bank OZK | 406,434 | 8,665,173 |
Capital Markets - 1.5% | ||
LPL Financial Holdings, Inc. | 219,234 | 16,808,671 |
WisdomTree Investments, Inc. | 3,845,847 | 12,306,710 |
29,115,381 | ||
Total Financials | 37,780,554 | |
Health Care - 30.5% | ||
Biotechnology - 9.4% | ||
Agios Pharmaceuticals, Inc. 1,2 | 285,531 | 9,993,585 |
DBV Technologies SA ADR (France) 2 | 396,681 | 686,258 |
Deciphera Pharmaceuticals, Inc. 2 | 278,958 | 14,310,545 |
Shares | Value | |
Exact Sciences Corp. 1,2 | 131,771 | $13,434,054 |
Forte Biosciences, Inc. Acquisition Date: 12/31/18, Cost $4,000,000 2,3 | 1,174,685 | 48,436,374 |
Heron Therapeutics, Inc. 1,2 | 964,892 | 14,299,699 |
Immunomedics, Inc. 2 | 415,286 | 35,311,769 |
Kiniksa Pharmaceuticals Ltd. Class A 1,2 | 318,174 | 4,874,426 |
Kodiak Sciences, Inc. 1,2 | 221,706 | 13,127,212 |
Neurocrine Biosciences, Inc. 2 | 120,038 | 11,542,854 |
Precision BioSciences, Inc. 2 | 408,976 | 2,519,292 |
Viking Therapeutics, Inc. 1,2 | 1,559,541 | 9,076,529 |
177,612,597 | ||
Health Care Equipment & Supplies - 11.5% | ||
ABIOMED, Inc. 2 | 46,765 | 12,956,711 |
Axogen, Inc. 2 | 1,294,843 | 15,059,024 |
Cooper Cos., Inc. (The) | 61,722 | 20,807,720 |
Hologic, Inc. 2 | 411,835 | 27,374,672 |
Integra LifeSciences Holdings Corp. 2 | 166,750 | 7,873,935 |
Masimo Corp. 2 | 35,064 | 8,277,208 |
Merit Medical Systems, Inc. 2 | 843,664 | 36,699,384 |
Nevro Corp. 1,2 | 70,316 | 9,795,019 |
Quidel Corp. 1,2 | 171,965 | 37,725,682 |
STERIS Plc | 239,648 | 42,223,581 |
218,792,936 | ||
Health Care Providers & Services - 6.5% | ||
AMN Healthcare Services, Inc. 2 | 320,822 | 18,755,254 |
BioTelemetry, Inc. 1,2 | 865,944 | 39,469,727 |
HealthEquity, Inc. 2 | 498,031 | 25,583,852 |
MEDNAX, Inc. 2 | 1,736,309 | 28,267,111 |
Ontrak, Inc. 1,2 | 173,357 | 10,401,420 |
122,477,364 | ||
Health Care Technology - 1.1% | ||
Omnicell, Inc. 2 | 287,539 | 21,467,662 |
Life Sciences Tools & Services - 1.3% | ||
Syneos Health, Inc. 1,2 | 477,792 | 25,399,423 |
Pharmaceuticals - 0.7% | ||
Revance Therapeutics, Inc. 1,2 | 511,192 | 12,851,367 |
Total Health Care | 578,601,349 | |
Industrials - 23.8% | ||
Air Freight & Logistics - 2.2% | ||
CH Robinson Worldwide, Inc. 1 | 197,218 | 20,153,707 |
Forward Air Corp. | 369,641 | 21,210,001 |
41,363,708 | ||
Commercial Services & Supplies - 6.4% | ||
ABM Industries, Inc. | 847,617 | 31,073,639 |
Cimpress Plc (Ireland) 2 | 224,019 | 16,837,268 |
Clean Harbors, Inc. 2 | 480,982 | 26,949,421 |
Meridian Funds | 1 | www.meridianfund.com |
Meridian Growth Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2020 (Unaudited)
Shares | Value | |
Ritchie Bros. Auctioneers, Inc. (Canada) | 799,454 | $47,367,650 |
122,227,978 | ||
Electrical Equipment - 4.0% | ||
Generac Holdings, Inc. 2 | 158,005 | 30,596,088 |
Sensata Technologies Holding Plc 2 | 1,047,311 | 45,180,997 |
75,777,085 | ||
Machinery - 5.3% | ||
John Bean Technologies Corp. 1 | 297,292 | 27,318,162 |
Kennametal, Inc. | 337,732 | 9,773,964 |
Middleby Corp. (The) 2 | 344,430 | 30,898,815 |
Tennant Co. | 348,868 | 21,057,672 |
Woodward, Inc. 1 | 144,772 | 11,604,924 |
100,653,537 | ||
Marine - 2.7% | ||
Kirby Corp. 2 | 634,036 | 22,933,082 |
Matson, Inc. | 681,168 | 27,308,025 |
50,241,107 | ||
Professional Services - 2.6% | ||
TriNet Group, Inc. 2 | 846,267 | 50,200,558 |
Road & Rail - 0.6% | ||
Heartland Express, Inc. | 616,836 | 11,473,150 |
Total Industrials | 451,937,123 | |
Information Technology - 22.2% | ||
Electronic Equipment, Instruments & Components - 2.2% | ||
Belden, Inc. | 620,343 | 19,305,074 |
Trimble, Inc. 2 | 459,807 | 22,392,601 |
41,697,675 | ||
IT Services - 2.5% | ||
Euronet Worldwide, Inc. 2 | 197,004 | 17,947,064 |
Gartner, Inc. 2 | 158,069 | 19,750,722 |
Wix.com Ltd. 2 | 38,121 | 9,715,137 |
47,412,923 | ||
Semiconductors & Semiconductor Equipment - 2.8% | ||
ON Semiconductor Corp. 2 | 2,457,797 | 53,309,617 |
Software - 14.7% | ||
2U, Inc. 1,2 | 973,247 | 32,954,143 |
ChannelAdvisor Corp. 2 | 539,578 | 7,807,694 |
DraftKings, Inc. Class A Acquisition Date: 8/17/18, Cost $6,072,108 2,3 | 851,288 | 42,576,318 |
FireEye, Inc. 2 | 1,229,982 | 15,184,128 |
j2 Global, Inc. 1,2 | 660,219 | 45,700,359 |
New Relic, Inc. 2 | 277,053 | 15,614,707 |
Shares | Value | |
Nuance Communications, Inc. 2 | 629,944 | $20,907,841 |
Pluralsight, Inc. Class A 2 | 1,695,005 | 29,035,436 |
Proofpoint, Inc. 2 | 185,161 | 19,543,744 |
SolarWinds Corp. 1,2 | 1,619,629 | 32,943,254 |
SS&C Technologies Holdings, Inc. | 153,444 | 9,286,431 |
Sumo Logic Inc. Acquisition Date: 5/1/19, Cost $3,999,997 2,3 | 363,131 | 6,728,817 |
278,282,872 | ||
Total Information Technology | 420,703,087 | |
Materials - 0.5% | ||
Containers & Packaging - 0.5% | ||
Graphic Packaging Holding Co. | 678,969 | 9,566,673 |
Total Materials | 9,566,673 | |
Total Common Stocks - 95.7% (Cost $1,481,738,265) | 1,814,721,608 | |
Warrants - 0.0% | ||
Information Technology - 0.0% | ||
Software - 0.0% | ||
DraftKings, Inc. Class A, Strike Price $11.50, Expires 4/23/25 Acquisition Date: 4/23/20, Cost $0 2,3 | 5,966 | 240,066 |
Total Information Technology | 240,066 | |
Total Warrants - 0.0% (Cost $0) | 240,066 | |
Preferred Stocks - 2.2% | ||
Consumer Discretionary - 0.8% | ||
Auto Components - 0.5% | ||
Rhino (E) Investment Holdings, LLC Acquisition Date: 7/10/20 Cost $10,236,000 2,3,4 | 100 | 10,236,000 |
Internet & Direct Marketing Retail - 0.3% | ||
Evolve Vacation Rental Network, Inc. Series 9 Acquisition Date: 5/29/20, Cost $4,499,999 2,3,4 | 776,451 | 5,147,870 |
Total Consumer Discretionary | 15,383,870 |
Meridian Funds | 2 | www.meridianfund.com |
Meridian Growth Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2020 (Unaudited)
Shares | Value | |
Health Care - 0.2% | ||
Biotechnology - 0.2% | ||
Talis Biomedical Corp. Series E Acquisition Date: 7/17/20, Cost $3,572,218 2,3,4 | 481,431 | $3,649,247 |
Total Health Care | 3,649,247 | |
Industrials - 0.2% | ||
Commercial Services & Supplies - 0.2% | ||
Xometry, Inc. Series A-2 Acquisition Date: 7/20/20 Cost $403,600 2,3,4 | 42,147 | 403,600 |
Xometry, Inc. Series B Acquisition Date: 7/20/20 Cost $138,546 2,3,4 | 14,468 | 138,546 |
Xometry, Inc. Series C Acquisition Date: 7/20/20 Cost $146,407 2,3,4 | 15,036 | 146,407 |
Xometry, Inc. Series D Acquisition Date: 7/20/20 Cost $114,391 2,3,4 | 11,668 | 114,391 |
Xometry, Inc. Series E Acquisition Date: 7/20/20 Cost $1,149,533 2,3,4 | 84,388 | 1,149,533 |
Xometry, Inc. Series Seed-1 Acquisition Date: 9/4/20 Cost $591,792 2,3,4 | 73,974 | 591,792 |
Xometry, Inc. Series Seed-2 Acquisition Date: 9/4/20 Cost $260,360 2,3,4 | 32,545 | 260,360 |
Total Industrials | 2,804,629 | |
Information Technology - 1.0% | ||
Communications Equipment - 0.4% | ||
Starry, Inc. Series C Shares Acquisition Date: 5/14/18, Cost $4,220,000 2,3,4 | 4,577,007 | 5,263,558 |
Starry, Inc. Series D Shares Acquisition Date: 3/6/19, Cost $1,835,000 2,3,4 | 1,283,217 | 1,835,000 |
7,098,558 | ||
Software - 0.4% | ||
ACV Auctions, Inc. Series A Acquisition Date: 2/28/20, Cost $5,941,839 2,3,4 | 1,143,016 | 6,771,341 |
ACV Auctions, Inc. Series E-1 Acquisition Date: 9/2/20 Cost $947,832 2,3,4 | 159,996 | 947,833 |
7,719,174 |
Shares | Value | |
Technology Hardware, Storage & Peripherals - 0.2% | ||
Quail Investment Holdings, LLC Acquisition Date: 9/1/20 Cost $4,037,882 2,3,4 | 4,038 | $4,037,882 |
Total Information Technology | 18,855,614 | |
Total Preferred Stocks - 2.2% (Cost $38,095,401) | 40,693,360 |
Shares/ Principal Amount | ||
Short-Term Investments - 1.1%5 | ||
Money Market Funds - 0.2% | ||
BlackRock Liquidity Funds, FedFund, Institutional Class, 0.05% | 605,000 | 605,000 |
Federated Treasury Obligations Fund, Institutional Class, 0.04% | 571,000 | 571,000 |
Fidelity Investments Money Market Government Portfolio, Institutional Class, 0.03% | 605,000 | 605,000 |
Goldman Sachs Financial Square Government Fund, Institutional Class, 0.00% | 605,000 | 605,000 |
Invesco Short Term Investments, Government & Agency Portfolio, Institutional Class, 0.02% | 605,000 | 605,000 |
JPMorgan U.S. Government Money Market Fund, Institutional Class, 0.01% | 758,000 | 758,000 |
Morgan Stanley Institutional Liquidity Funds, Government Portfolio, Institutional Class, 0.02% | 571,000 | 571,000 |
Total Money Market Funds (Cost $4,320,000) | 4,320,000 |
Meridian Funds | 3 | www.meridianfund.com |
Meridian Growth Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2020 (Unaudited)
Shares/ Principal Amount | Value | |
Repurchase Agreements - 0.9% | ||
Citigroup Global Markets, Inc., dated 9/30/20, due 10/1/20, 0.08% total to be received $4,931,871 (collateralized by various U.S. Government Sponsored Agency and U.S. Treasury Obligations, 0.00% - 4.63%, 11/27/20 - 11/1/59, totaling $5,030,497) | $4,931,860 | $4,931,860 |
HSBC Securities, Inc., dated 9/30/20, due 10/1/20, 0.08% total to be received $4,931,871 (collateralized by various U.S. Government Sponsored Agency and U.S. Treasury Obligations, 0.00% - 5.00%, 11/1/26 - 8/1/50, totaling $5,030,497) | 4,931,860 | 4,931,860 |
Nomura Securities International, Inc., dated 9/30/20, due 10/1/20, 0.08% total to be received $2,073,907 (collateralized by various U.S. Government Sponsored Agency, 1.56% - 5.50%, 4/1/28 - 1/20/70, totaling $2,115,380) | 2,073,902 | 2,073,902 |
Shares/ Principal Amount | Value | |
RBC Dominion Securities, Inc., dated 9/30/20, due 10/1/20, 0.08% total to be received $4,931,871 (collateralized by various U.S. Government Sponsored Agency and U.S. Treasury Obligations, 0.00% - 5.50%, 10/27/20 - 7/15/61, totaling $5,030,497) | $4,931,860 | $4,931,860 |
Total Repurchase Agreements (Cost $16,869,482) | 16,869,482 | |
Total Short-Term Investments - 1.1% (Cost $21,189,482) | 21,189,482 | |
Total Investments - 99.0% (Cost $1,541,023,148) | 1,876,844,516 | |
Cash and Other Assets, Less Liabilities - 1.0% | 19,398,133 | |
Net Assets - 100.0% | $1,896,242,649 |
ADR—American Depositary Receipt |
Plc—Public Limited Company |
1 | All or portion of this security is on loan at September 30, 2020. Total value of such securities at period-end amounts to $197,727,051 and represents 10.43% of net assets. |
2 | Non-income producing securities. |
3 | Restricted security; cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules and agreements. Acquisition date represents the date on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description. The Fund has registration rights for certain restricted securities. Any costs related to such registration are borne by the issuer. The aggregate value of restricted securities at period-end amounts to $156,478,194 and represents 8.25% of net assets. |
4 | Security is valued using significant unobservable inputs in good faith in accordance with procedures approved by the Board of Directors. |
5 | Collateral received from brokers for securities lending was invested in short-term investments. |
Meridian Funds | 4 | www.meridianfund.com |