Meridian Growth Fund
Schedule of Investments
Schedule of Investments
March 31, 2021 (Unaudited)
Shares | Value | |
Common Stocks - 94.2% | ||
Communication Services - 0.4% | ||
Interactive Media & Services - 0.4% | ||
Cargurus, Inc. 1 | 343,321 | $8,181,339 |
Total Communication Services | 8,181,339 | |
Consumer Discretionary - 15.2% | ||
Auto Components - 0.5% | ||
Fox Factory Holding Corp. 1,2 | 81,829 | 10,397,193 |
Diversified Consumer Services - 2.2% | ||
frontdoor, Inc. 1 | 652,215 | 35,056,556 |
Grand Canyon Education, Inc. 1 | 114,053 | 12,215,077 |
47,271,633 | ||
Internet & Direct Marketing Retail - 1.0% | ||
Shutterstock, Inc. 2 | 233,535 | 20,793,956 |
Leisure Products - 0.6% | ||
Polaris, Inc. | 104,537 | 13,955,689 |
Specialty Retail - 4.6% | ||
Sally Beauty Holdings, Inc. 1,2 | 2,975,333 | 59,893,453 |
Vroom, Inc. 1,2 | 974,962 | 38,013,769 |
97,907,222 | ||
Textiles, Apparel & Luxury Goods - 6.3% | ||
Carter's, Inc. | 150,324 | 13,368,313 |
Hanesbrands, Inc. 2 | 2,426,322 | 47,725,754 |
Skechers U.S.A., Inc. Class A 1 | 1,426,020 | 59,479,294 |
Under Armour, Inc. Class C 1 | 726,893 | 13,418,445 |
133,991,806 | ||
Total Consumer Discretionary | 324,317,499 | |
Financials - 3.6% | ||
Banks - 0.6% | ||
Bank OZK | 298,152 | 12,179,509 |
Capital Markets - 3.0% | ||
Jaws Acquisition Corp. Class A 1,2 | 1,120,794 | 14,850,521 |
LPL Financial Holdings, Inc. | 186,789 | 26,553,924 |
WisdomTree Investments, Inc. | 3,639,311 | 22,745,694 |
64,150,139 | ||
Total Financials | 76,329,648 | |
Health Care - 24.5% | ||
Biotechnology - 6.3% | ||
Agios Pharmaceuticals, Inc. 1,2 | 243,276 | 12,562,773 |
Allakos, Inc. 1,2 | 77,701 | 8,918,521 |
Deciphera Pharmaceuticals, Inc. 1 | 258,198 | 11,577,598 |
Exact Sciences Corp. 1 | 72,098 | 9,501,074 |
Forte Biosciences, Inc. 1 | 487,558 | 16,708,613 |
Heron Therapeutics, Inc. 1,2 | 964,892 | 15,640,899 |
Kodiak Sciences, Inc. 1,2 | 130,101 | 14,752,152 |
Shares | Value | |
Neurocrine Biosciences, Inc. 1 | 111,105 | $10,804,961 |
Precision BioSciences, Inc. 1,2 | 408,976 | 4,232,902 |
SpringWorks Therapeutics, Inc. 1,2 | 113,945 | 8,382,934 |
Veracyte, Inc. 1 | 234,522 | 12,605,558 |
Viking Therapeutics, Inc. 1,2 | 1,407,044 | 8,899,553 |
134,587,538 | ||
Health Care Equipment & Supplies - 10.3% | ||
ABIOMED, Inc. 1 | 30,844 | 9,830,908 |
Axogen, Inc. 1 | 935,291 | 18,948,996 |
Cooper Cos., Inc. (The) | 40,854 | 15,691,613 |
Hologic, Inc. 1 | 343,596 | 25,556,670 |
Integra LifeSciences Holdings Corp. 1 | 142,073 | 9,815,824 |
Masimo Corp. 1 | 29,875 | 6,861,092 |
Merit Medical Systems, Inc. 1,2 | 718,812 | 43,042,462 |
Nevro Corp. 1,2 | 51,693 | 7,211,173 |
Quidel Corp. 1,2 | 127,177 | 16,269,754 |
STERIS Plc | 313,058 | 59,631,288 |
Talis Biomedical Corp. Acquisition Date: 7/17/20 - 11/3/20, Cost $8,322,218 1,3 | 725,165 | 7,920,615 |
220,780,395 | ||
Health Care Providers & Services - 3.6% | ||
AMN Healthcare Services, Inc. 1 | 280,095 | 20,643,001 |
HealthEquity, Inc. 1,2 | 355,671 | 24,185,628 |
Henry Schein, Inc. 1 | 258,326 | 17,886,492 |
MEDNAX, Inc. 1,2 | 545,650 | 13,897,706 |
76,612,827 | ||
Health Care Technology - 1.4% | ||
Inovalon Holdings, Inc. Class A 1,2 | 331,379 | 9,537,088 |
Omnicell, Inc. 1 | 152,459 | 19,799,850 |
29,336,938 | ||
Life Sciences Tools & Services - 2.1% | ||
Sotera Health Co. 1 | 546,596 | 13,643,036 |
Syneos Health, Inc. 1 | 404,558 | 30,685,725 |
44,328,761 | ||
Pharmaceuticals - 0.8% | ||
Arvinas, Inc. 1 | 64,097 | 4,236,812 |
Revance Therapeutics, Inc. 1,2 | 511,192 | 14,287,816 |
18,524,628 | ||
Total Health Care | 524,171,087 | |
Industrials - 25.7% | ||
Air Freight & Logistics - 2.7% | ||
CH Robinson Worldwide, Inc. 2 | 379,660 | 36,230,954 |
Meridian Funds | 1 | www.meridianfund.com |
Meridian Growth Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
March 31, 2021 (Unaudited)
Shares | Value | |
Forward Air Corp. 2 | 239,483 | $21,268,485 |
57,499,439 | ||
Commercial Services & Supplies - 7.2% | ||
ABM Industries, Inc. | 722,181 | 36,838,453 |
Cimpress Plc (Ireland) 1,2 | 206,213 | 20,648,108 |
Clean Harbors, Inc. 1 | 409,803 | 34,448,040 |
Ritchie Bros. Auctioneers, Inc. (Canada) | 1,043,982 | 61,125,146 |
153,059,747 | ||
Electrical Equipment - 4.8% | ||
Generac Holdings, Inc. 1 | 156,276 | 51,172,576 |
Sensata Technologies Holding Plc 1 | 892,323 | 51,710,118 |
102,882,694 | ||
Machinery - 4.6% | ||
John Bean Technologies Corp. 2 | 150,667 | 20,089,938 |
Kennametal, Inc. 2 | 269,259 | 10,762,282 |
Middleby Corp. (The) 1,2 | 190,996 | 31,657,587 |
Tennant Co. | 297,240 | 23,746,504 |
Woodward, Inc. | 107,521 | 12,970,258 |
99,226,569 | ||
Marine - 3.8% | ||
Kirby Corp. 1 | 501,263 | 30,216,134 |
Matson, Inc. | 747,636 | 49,867,321 |
80,083,455 | ||
Professional Services - 2.1% | ||
TriNet Group, Inc. 1 | 588,685 | 45,893,882 |
Road & Rail - 0.5% | ||
Heartland Express, Inc. | 525,553 | 10,290,328 |
Total Industrials | 548,936,114 | |
Information Technology - 24.2% | ||
Electronic Equipment, Instruments & Components - 2.6% | ||
Belden, Inc. | 606,761 | 26,921,986 |
Trimble, Inc. 1 | 362,332 | 28,185,806 |
55,107,792 | ||
IT Services - 3.6% | ||
DigitalOcean Holdings, Inc. 1 | 94,013 | 3,960,768 |
Euronet Worldwide, Inc. 1 | 219,581 | 30,368,052 |
Gartner, Inc. 1 | 117,558 | 21,460,213 |
Wix.com Ltd. (Israel) 1 | 75,257 | 21,013,259 |
76,802,292 | ||
Semiconductors & Semiconductor Equipment - 3.0% | ||
ON Semiconductor Corp. 1 | 1,566,461 | 65,180,442 |
Software - 15.0% | ||
2U, Inc. 1,2 | 1,282,088 | 49,014,224 |
Shares | Value | |
8x8, Inc. 1 | 660,461 | $21,425,355 |
ACV Auctions, Inc. Acquisition Date: 2/28/20 - 9/2/20, Cost $6,889,672 1,3 | 651,506 | 19,166,329 |
ChannelAdvisor Corp. 1 | 374,706 | 8,824,326 |
FireEye, Inc. 1,2 | 676,861 | 13,246,170 |
j2 Global, Inc. 1,2 | 545,058 | 65,330,652 |
New Relic, Inc. 1 | 341,919 | 21,021,180 |
Nuance Communications, Inc. 1 | 500,665 | 21,849,021 |
Pluralsight, Inc. Class A 1 | 1,499,654 | 33,502,270 |
Proofpoint, Inc. 1 | 275,398 | 34,642,314 |
SolarWinds Corp. 1,2 | 1,410,833 | 24,604,928 |
Sumo Logic, Inc. 1,2 | 363,131 | 6,848,651 |
319,475,420 | ||
Total Information Technology | 516,565,946 | |
Materials - 0.6% | ||
Containers & Packaging - 0.6% | ||
Graphic Packaging Holding Co. | 715,817 | 12,999,237 |
Total Materials | 12,999,237 | |
Total Common Stocks - 94.2% (Cost $1,267,785,977) | 2,011,500,870 | |
Preferred Stocks - 1.9% | ||
Consumer Discretionary - 0.4% | ||
Internet & Direct Marketing Retail - 0.4% | ||
Evolve Vacation Rental Network, Inc. Series 9 Acquisition Date: 5/29/20, Cost $4,499,999 1,3,4 | 776,451 | 8,828,248 |
Total Consumer Discretionary | 8,828,248 | |
Industrials - 0.3% | ||
Commercial Services & Supplies - 0.3% | ||
Xometry, Inc. Series A-2 Acquisition Date: 7/20/20, Cost $403,600 1,3,4 | 42,147 | 940,721 |
Xometry, Inc. Series B Acquisition Date: 7/20/20, Cost $138,546 1,3,4 | 14,468 | 323,215 |
Xometry, Inc. Series C Acquisition Date: 7/20/20, Cost $146,407 1,3,4 | 15,036 | 336,656 |
Xometry, Inc. Series D Acquisition Date: 7/20/20, Cost $114,391 1,3,4 | 11,668 | 263,580 |
Xometry, Inc. Series E Acquisition Date: 7/20/20, Cost $1,149,533 1,3,4 | 84,388 | 1,935,017 |
Meridian Funds | 2 | www.meridianfund.com |
Meridian Growth Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
March 31, 2021 (Unaudited)
Shares | Value | |
Xometry, Inc. Series Seed-1 Acquisition Date: 9/4/20, Cost $591,792 1,3,4 | 73,974 | $1,647,401 |
Xometry, Inc. Series Seed-2 Acquisition Date: 9/4/20, Cost $260,360 1,3,4 | 32,545 | 724,777 |
Total Industrials | 6,171,367 | |
Information Technology - 0.8% | ||
Communications Equipment - 0.4% | ||
Starry, Inc. Series C Acquisition Date: 5/14/18, Cost $4,220,000 1,3,4 | 4,577,007 | 6,819,741 |
Starry, Inc. Series D Acquisition Date: 3/6/19, Cost $1,835,000 1,3,4 | 1,283,217 | 2,065,979 |
8,885,720 | ||
Software - 0.4% | ||
Dataminr, Inc. Series F Acquisition Date: 3/22/21, Cost $7,369,692 1,3,4 | 167,493 | 7,369,692 |
Total Information Technology | 16,255,412 | |
Real Estate - 0.4% | ||
Real Estate Management & Development - 0.4% | ||
Apartment List, Inc. Series D Acquisition Date: 11/2/20 - 12/21/20, Cost $8,399,997 1,3,4 | 2,299,479 | 8,399,997 |
Total Real Estate | 8,399,997 | |
Total Preferred Stocks - 1.9% (Cost $29,129,318) | 39,655,024 | |
Private Investment Funds - 1.3% | ||
Quail Investment Holdings, LLC Acquisition Date: 9/1/20, Cost $4,037,882 1,3 | 4,038 | 3,895,480 |
Rhino (E) Investment Holdings, LLC Acquisition Date: 7/10/20, Cost $10,236,000 1,3 | 100 | 23,847,684 |
Total Private Investment Funds - 1.3% (Cost $14,273,882) | 27,743,164 |
Shares/ Principal Amount | Value | |
Short-Term Investments - 1.4%5 | ||
Money Market Funds - 1.1% | ||
BlackRock Liquidity Funds, FedFund, Institutional Class, 0.04% | 6,308,000 | $6,308,000 |
Goldman Sachs Financial Square Government Fund, Institutional Class, 0.04% | 5,126,000 | 5,126,000 |
Invesco Short Term Investments, Government & Agency Portfolio, Institutional Class, 0.03% | 7,348,000 | 7,348,000 |
JPMorgan U.S. Government Money Market Fund, Institutional Class, 0.04% | 5,496,000 | 5,496,000 |
Total Money Market Funds (Cost $24,278,000) | 24,278,000 | |
Repurchase Agreements - 0.3% | ||
Citigroup Global Markets, Inc., dated 3/31/21, due 4/1/21, 0.01% total to be received $5,737,507 (collateralized by various U.S. Government Sponsored Agency and U.S. Treasury Obligations, 1.13% - 4.00%, 5/15/23 - 9/15/57, totaling $5,852,256) (Cost $5,737,505) | $5,737,505 | 5,737,505 |
Total Short-Term Investments - 1.4% (Cost $30,015,505) | 30,015,505 | |
Total Investments - 98.8% (Cost $1,341,204,682) | 2,108,914,563 | |
Cash and Other Assets, Less Liabilities - 1.2% | 26,086,243 | |
Net Assets - 100.0% | $2,135,000,806 |
Meridian Funds | 3 | www.meridianfund.com |
Meridian Growth Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
March 31, 2021 (Unaudited)
Plc—Public Limited Company |
1 | Non-income producing securities. |
2 | All or portion of this security is on loan at March 31, 2021. Total value of such securities at period-end amounts to $447,148,142 and represents 20.94% of net assets. |
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 $94,485,132 and represents 4.43% 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 |