Meridian Enhanced Equity Fund
Schedule of Investments
Schedule of Investments
September 30, 2021 (Unaudited)
Shares | Value | |
Common Stocks - 107.2% | ||
Communication Services - 15.5% | ||
Diversified Telecommunication Services - 1.8% | ||
Liberty Global Plc Class A (United Kingdom)1,2 | 28,900 | $861,220 |
Verizon Communications, Inc. | 5,657 | 305,535 |
1,166,755 | ||
Entertainment - 6.1% | ||
Live Nation Entertainment, Inc.1,2 | 24,500 | 2,232,685 |
Madison Square Garden Entertainment Corp.2,3 | 5,447 | 395,833 |
Walt Disney Co. (The)2 | 7,764 | 1,313,436 |
3,941,954 | ||
Interactive Media & Services - 0.4% | ||
IAC/InterActiveCorp.2 | 2,105 | 274,260 |
Media - 7.2% | ||
Altice U.S.A., Inc. Class A2 | 21,174 | 438,725 |
Boston Omaha Corp. Class A2 | 9,070 | 351,735 |
Liberty Broadband Corp. Class C2 | 7,553 | 1,304,403 |
Liberty Media Corp.-Liberty SiriusXM Class A2 | 11,000 | 518,870 |
Liberty Media Corp.-Liberty SiriusXM Class C2 | 799 | 37,929 |
ViacomCBS, Inc. Class B1 | 49,400 | 1,951,794 |
4,603,456 | ||
Total Communication Services | 9,986,425 | |
Consumer Discretionary - 16.1% | ||
Internet & Direct Marketing Retail - 2.1% | ||
Amazon.com, Inc.2 | 352 | 1,156,334 |
Coupang, Inc. (South Korea)2,3 | 7,000 | 194,950 |
1,351,284 | ||
Leisure Products - 0.2% | ||
Clarus Corp. | 5,926 | 151,883 |
Multiline Retail - 1.0% | ||
Target Corp. | 2,885 | 660,002 |
Specialty Retail - 4.9% | ||
Advance Auto Parts, Inc. | 1,640 | 342,580 |
Home Depot, Inc. (The) | 2,010 | 659,803 |
Lowe's Cos., Inc. | 3,000 | 608,580 |
Sally Beauty Holdings, Inc.1,2 | 80,000 | 1,348,000 |
Vroom, Inc.2,3 | 7,837 | 172,962 |
3,131,925 | ||
Textiles, Apparel & Luxury Goods - 7.9% | ||
Hanesbrands, Inc.1 | 63,500 | 1,089,660 |
NIKE, Inc. Class B | 7,139 | 1,036,797 |
Shares | Value | |
Skechers U.S.A., Inc. Class A1,2 | 69,400 | $2,923,128 |
5,049,585 | ||
Total Consumer Discretionary | 10,344,679 | |
Consumer Staples - 3.5% | ||
Food & Staples Retailing - 0.6% | ||
Costco Wholesale Corp. | 868 | 390,036 |
Household Products - 2.9% | ||
Spectrum Brands Holdings, Inc.1 | 19,600 | 1,875,132 |
Total Consumer Staples | 2,265,168 | |
Financials - 11.8% | ||
Banks - 8.4% | ||
Bank of America Corp.1 | 10,600 | 449,970 |
Citigroup, Inc.1 | 200 | 14,036 |
U.S. Bancorp | 17,777 | 1,056,665 |
Wells Fargo & Co.1 | 83,400 | 3,870,594 |
5,391,265 | ||
Capital Markets - 3.4% | ||
Intercontinental Exchange, Inc. | 9,694 | 1,113,065 |
Tishman Speyer Innovation Corp. II Class A2 | 30,000 | 294,000 |
Vector Acquisition Corp. Acquisition Date: 8/24/21, Cost $300,0002,4 | 30,000 | 411,315 |
Yellowstone Acquisition Co. Class A2 | 34,800 | 353,220 |
2,171,600 | ||
Total Financials | 7,562,865 | |
Health Care - 2.1% | ||
Biotechnology - 0.3% | ||
Heron Therapeutics, Inc.2,3 | 16,635 | 177,828 |
Health Care Providers & Services - 1.8% | ||
Ginkgo Bioworks Holdings, Inc. Acquisition Date: 9/14/21, Cost $1,000,0002,4 | 100,000 | 1,159,000 |
Total Health Care | 1,336,828 | |
Industrials - 15.3% | ||
Aerospace & Defense - 2.7% | ||
Boeing Co. (The)1,2 | 7,800 | 1,715,532 |
Commercial Services & Supplies - 0.8% | ||
ACV Auctions, Inc. Class A2,3 | 13,819 | 247,222 |
Legalzoom.com, Inc.2,3 | 9,308 | 245,731 |
492,953 | ||
Industrial Conglomerates - 2.4% | ||
General Electric Co.1 | 14,775 | 1,522,268 |
Machinery - 0.4% | ||
Oshkosh Corp. | 2,400 | 245,688 |
Meridian Funds | 1 | www.meridianfund.com |
Meridian Enhanced Equity Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2021 (Unaudited)
Shares | Value | |
Marine - 2.1% | ||
Matson, Inc.1 | 17,100 | $1,380,141 |
Professional Services - 2.3% | ||
Alight, Inc. Class A2,3 | 25,000 | 287,000 |
CACI International, Inc. Class A2 | 1,300 | 340,730 |
Dun & Bradstreet Holdings, Inc.2 | 12,432 | 208,982 |
IHS Markit Ltd. (United Kingdom) | 5,739 | 669,282 |
1,505,994 | ||
Trading Companies & Distributors - 4.6% | ||
WW Grainger, Inc.1 | 7,500 | 2,947,950 |
Total Industrials | 9,810,526 | |
Information Technology - 27.4% | ||
IT Services - 2.6% | ||
PayPal Holdings, Inc.2 | 1,098 | 285,711 |
SolarWinds Corp.3 | 10,000 | 167,300 |
Visa, Inc. Class A3 | 5,462 | 1,216,660 |
1,669,671 | ||
Semiconductors & Semiconductor Equipment - 5.8% | ||
Allegro MicroSystems, Inc. (Japan)2 | 11,599 | 370,704 |
NVIDIA Corp. | 2,064 | 427,579 |
ON Semiconductor Corp.1,2 | 64,400 | 2,947,588 |
3,745,871 | ||
Software - 17.0% | ||
Alkami Technology, Inc.2 | 17,923 | 442,340 |
j2 Global, Inc.1,2 | 10,000 | 1,366,200 |
Latch, Inc. Acquisition Date: 6/1/21, Cost $325,0002,4 | 32,500 | 366,275 |
Microsoft Corp. | 4,685 | 1,320,795 |
Mimecast Ltd.1,2 | 39,300 | 2,499,480 |
N-Able, Inc.2,3 | 33,634 | 417,398 |
salesforce.com, Inc.2 | 2,184 | 592,344 |
Splunk, Inc.1,2 | 11,800 | 1,707,578 |
Verint Systems, Inc.1,2 | 12,500 | 559,875 |
Zuora, Inc. Class A1,2 | 99,600 | 1,651,368 |
10,923,653 | ||
Technology Hardware, Storage & Peripherals - 2.0% | ||
Apple, Inc. | 9,084 | 1,285,386 |
Total Information Technology | 17,624,581 | |
Materials - 9.9% | ||
Chemicals - 2.9% | ||
Huntsman Corp.1 | 49,600 | 1,467,664 |
Valvoline, Inc.1 | 12,200 | 380,396 |
1,848,060 | ||
Containers & Packaging - 3.5% | ||
Ball Corp.1 | 25,000 | 2,249,250 |
Shares | Value | |
Paper & Forest Products - 3.5% | ||
Domtar Corp.1,2 | 41,500 | $2,263,410 |
Total Materials | 6,360,720 | |
Real Estate - 2.5% | ||
Equity Real Estate Investment Trusts (REITS) - 2.5% | ||
American Tower Corp. | 2,378 | 631,145 |
Equinix, Inc. | 1,196 | 944,995 |
Total Real Estate | 1,576,140 | |
Utilities - 3.1% | ||
Independent Power & Renewable Electricity Producers - 3.1% | ||
Vistra Corp.1 | 118,299 | 2,022,913 |
Total Utilities | 2,022,913 | |
Total Common Stocks - 107.2% (Cost $55,837,703) | 68,890,845 | |
Warrants - 0.1% | ||
Financials - 0.0% | ||
Capital Markets - 0.0% | ||
Executive Network Partnering Corp. Class A, Strike Price $11.50, Expires 9/25/282 | 4,325 | 3,158 |
Tishman Speyer Innovation Corp. II Class A, Strike Price $11.50, Expires 12/31/272 | 6,000 | 5,040 |
Yellowstone Acquisition Co. Class A, Strike Price $11.50, Expires 10/21/252 | 17,400 | 16,182 |
Total Financials | 24,380 | |
Industrials - 0.1% | ||
Professional Services - 0.1% | ||
Alight, Inc. Class A, Strike Price $11.50, Expires 12/31/282 | 8,333 | 25,415 |
Total Industrials | 25,415 | |
Total Warrants - 0.1% (Cost $37,070) | 49,795 |
Meridian Funds | 2 | www.meridianfund.com |
Meridian Enhanced Equity Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2021 (Unaudited)
Shares/ Principal Amount | Value | |
Short-Term Investments - 1.4%5 | ||
Repurchase Agreements - 1.4% | ||
Bank of America Securities, Inc., dated 9/30/21, due 10/1/21, 0.05% total to be received $250,000 (collateralized by various U.S. Government Sponsored Agency, 1.50% - 5.00%, 9/1/31 - 7/1/60, totaling $255,000) | $250,000 | $250,000 |
Citigroup Global Markets, Inc., dated 9/30/21, due 10/1/21, 0.06% total to be received $151,885 (collateralized by various U.S. Treasury Obligations, 0.13% - 2.75%, 6/30/22 - 2/15/28, totaling $154,923) | 151,885 | 151,885 |
Daiwa Capital Markets America, Inc., dated 9/30/21, due 10/1/21, 0.05% total to be received $250,000 (collateralized by various U.S. Government Sponsored Agency and U.S. Treasury Obligations, 0.00% - 8.00%, 11/15/21 - 10/1/51, totaling $255,000) | 250,000 | 250,000 |
Shares/ Principal Amount | Value | |
RBC Dominion Securities, Inc., dated 9/30/21, due 10/1/21, 0.05% total to be received $250,000 (collateralized by various U.S. Government Sponsored Agency and U.S. Treasury Obligations, 0.00% - 6.50%, 10/31/21 - 5/1/58, totaling $255,000) | $250,000 | $250,000 |
Total Repurchase Agreements (Cost $901,885) | 901,885 | |
Total Short-Term Investments - 1.4% (Cost $901,885) | 901,885 | |
Total Investments - 108.7% (Cost $56,776,658) | 69,842,525 | |
Liabilities in Excess of Other Assets - (8.7)% | (5,609,110) | |
Net Assets - 100.0% | $64,233,415 |
Value | ||
Call Options Written - (20.3)% | ||
Total Call Options Written - (20.3)% (Premium received $(9,978,983)) | $(13,048,679) |
Plc—Public Limited Company |
1 | Securities, or a portion thereof, were pledged as collateral for written options by the fund. |
2 | Non-income producing securities. |
3 | All or portion of this security is on loan at September 30, 2021. Total value of such securities at period-end amounts to $3,225,554 and represents 5.02% of net assets. |
4 | 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 $1,936,590 and represents 3.01% of net assets. |
5 | Collateral received from brokers for securities lending was invested in short-term investments. |
Meridian Funds | 3 | www.meridianfund.com |
Meridian Enhanced Equity Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2021 (Unaudited)
Exchange-Traded Options Written | ||||||||||||
Description | Strike Price | Expiration Date | Number of Contracts | Notional Amount | Premium Received | Value | ||||||
Call | ||||||||||||
Spectrum Brands Holdings, Inc. | 80.00 | 10/15/21 | 196 | $1,875,132 | $(286,190) | $(327,320) | ||||||
Zuora, Inc. Class A | 8.00 | 11/19/21 | 460 | 762,680 | (298,675) | (423,200) | ||||||
j2 Global, Inc. | 115.00 | 12/17/21 | 100 | 1,366,200 | (186,247) | (247,000) | ||||||
Matson, Inc. | 50.00 | 12/17/21 | 171 | 1,380,141 | (248,844) | (559,170) | ||||||
Mimecast Ltd. | 40.00 | 12/17/21 | 393 | 2,499,480 | (389,898) | (1,021,800) | ||||||
Sally Beauty Holdings, Inc. | 17.50 | 12/17/21 | 800 | 1,348,000 | (435,368) | (112,000) | ||||||
Verint Systems, Inc. | 40.00 | 12/17/21 | 125 | 559,875 | (101,342) | (90,000) | ||||||
WW Grainger, Inc. | 340.00 | 12/17/21 | 75 | 2,947,950 | (455,613) | (465,750) | ||||||
Ball Corp. | 70.00 | 1/21/22 | 250 | 2,249,250 | (434,009) | (557,500) | ||||||
Bank of America Corp. | 25.00 | 1/21/22 | 106 | 449,970 | (60,865) | (189,740) | ||||||
Citigroup, Inc. | 42.50 | 1/21/22 | 2 | 14,036 | (3,021) | (5,640) | ||||||
Domtar Corp. | 25.00 | 1/21/22 | 415 | 2,263,410 | (380,880) | (1,348,750) | ||||||
General Electric Co. | 10.00 | 1/21/22 | 750 | 7,727,250 | (207,156) | (228,750) | ||||||
Hanesbrands, Inc. | 15.00 | 1/21/22 | 635 | 1,089,660 | (297,100) | (174,625) | ||||||
Huntsman Corp. | 25.00 | 1/21/22 | 496 | 1,467,664 | (306,294) | (267,840) | ||||||
Liberty Global Plc Class A (United Kingdom) | 22.50 | 1/21/22 | 288 | 858,240 | (125,897) | (256,320) | ||||||
Live Nation Entertainment, Inc. | 57.50 | 1/21/22 | 245 | 2,232,685 | (521,646) | (857,500) | ||||||
Skechers U.S.A., Inc. Class A | 28.00 | 1/21/22 | 694 | 2,923,128 | (737,160) | (1,041,000) | ||||||
Valvoline, Inc. | 30.00 | 1/21/22 | 122 | 380,396 | (59,980) | (31,720) | ||||||
Vistra Corp. | 13.00 | 1/21/22 | 646 | 1,104,660 | (232,050) | (284,240) | ||||||
Zuora, Inc. Class A | 5.00 | 1/21/22 | 536 | 888,688 | (481,969) | (659,280) | ||||||
Boeing Co. (The) | 200.00 | 6/17/22 | 78 | 1,715,532 | (352,660) | (292,500) | ||||||
General Electric Co. | 7.00 | 1/20/23 | 417 | 4,296,351 | (222,082) | (262,710) | ||||||
ON Semiconductor Corp. | 32.00 | 1/20/23 | 644 | 2,947,588 | (937,437) | (1,197,840) | ||||||
Splunk, Inc. | 140.00 | 1/20/23 | 118 | 1,707,578 | (644,263) | (371,700) | ||||||
ViacomCBS, Inc. Class B | 37.00 | 1/20/23 | 494 | 1,951,794 | (848,468) | (375,440) | ||||||
Wells Fargo & Co. | 42.50 | 1/20/23 | 246 | 1,141,686 | (223,606) | (217,464) | ||||||
Wells Fargo & Co. | 27.50 | 1/20/23 | 588 | 2,728,908 | (500,263) | (1,181,880) | ||||||
Total | $(9,978,983) | $(13,048,679) |
Meridian Funds | 4 | www.meridianfund.com |