Meridian Enhanced Equity Fund
Schedule of Investments
Schedule of Investments
March 31, 2022 (Unaudited)
Shares | Value | |
Common Stocks - 124.7% | ||
Communication Services - 10.1% | ||
Diversified Telecommunication Services - 0.5% | ||
Liberty Global Plc Class A (United Kingdom)1 | 100 | $2,551 |
Verizon Communications, Inc. | 5,657 | 288,167 |
290,718 | ||
Entertainment - 2.7% | ||
Madison Square Garden Entertainment Corp.1,2 | 6,379 | 531,435 |
Walt Disney Co. (The)1 | 7,764 | 1,064,910 |
1,596,345 | ||
Interactive Media & Services - 0.6% | ||
IAC/InterActiveCorp.1 | 3,525 | 353,487 |
Media - 6.3% | ||
Boston Omaha Corp. Class A1 | 9,070 | 230,106 |
Liberty Broadband Corp. Class C1 | 7,553 | 1,022,072 |
Liberty Media Corp.-Liberty SiriusXM Class A1 | 11,000 | 502,810 |
Liberty Media Corp.-Liberty SiriusXM Class C1 | 799 | 36,538 |
Paramount Global Class B3 | 49,400 | 1,867,814 |
3,659,340 | ||
Total Communication Services | 5,899,890 | |
Consumer Discretionary - 14.6% | ||
Automobiles - 0.2% | ||
Rivian Automotive, Inc. Class A1,3 | 2,709 | 136,100 |
Internet & Direct Marketing Retail - 1.6% | ||
Amazon.com, Inc.1,3 | 283 | 922,566 |
Multiline Retail - 0.7% | ||
Target Corp. | 2,012 | 426,987 |
Specialty Retail - 6.5% | ||
Advance Auto Parts, Inc. | 1,640 | 339,415 |
Home Depot, Inc. (The) | 1,148 | 343,631 |
Lowe's Cos., Inc. | 2,433 | 491,928 |
Sally Beauty Holdings, Inc.1,3 | 170,000 | 2,657,100 |
3,832,074 | ||
Textiles, Apparel & Luxury Goods - 5.6% | ||
Hanesbrands, Inc.3 | 66,000 | 982,740 |
Levi Strauss & Co. Class A3 | 89,000 | 1,758,640 |
NIKE, Inc. Class B | 3,783 | 509,040 |
3,250,420 | ||
Total Consumer Discretionary | 8,568,147 | |
Consumer Staples - 20.2% | ||
Food & Staples Retailing - 0.9% | ||
Costco Wholesale Corp. | 868 | 499,838 |
Shares | Value | |
Food Products - 9.9% | ||
Dole Plc3 | 184,200 | $2,284,080 |
Lamb Weston Holdings, Inc.3 | 58,500 | 3,504,735 |
5,788,815 | ||
Household Products - 4.7% | ||
Spectrum Brands Holdings, Inc.3 | 30,900 | 2,741,448 |
Personal Products - 4.7% | ||
Coty, Inc. Class A1,3 | 308,000 | 2,768,920 |
Total Consumer Staples | 11,799,021 | |
Financials - 9.2% | ||
Banks - 6.9% | ||
U.S. Bancorp | 17,777 | 944,847 |
Wells Fargo & Co.3 | 63,200 | 3,062,672 |
4,007,519 | ||
Capital Markets - 2.3% | ||
Intercontinental Exchange, Inc. | 5,878 | 776,602 |
S&P Global, Inc. | 690 | 283,024 |
Tishman Speyer Innovation Corp. II Class A1 | 30,000 | 294,000 |
1,353,626 | ||
Total Financials | 5,361,145 | |
Health Care - 1.8% | ||
Health Care Equipment & Supplies - 1.3% | ||
Alcon, Inc. (Switzerland)3 | 9,700 | 769,501 |
Pharmaceuticals - 0.5% | ||
Johnson & Johnson | 1,775 | 314,583 |
Total Health Care | 1,084,084 | |
Industrials - 18.9% | ||
Aerospace & Defense - 8.2% | ||
Boeing Co. (The)1,3 | 7,800 | 1,493,700 |
Maxar Technologies, Inc.3 | 78,400 | 3,093,664 |
Rocket Lab U.S.A., Inc.1,2 | 21,593 | 173,824 |
4,761,188 | ||
Commercial Services & Supplies - 0.4% | ||
ACV Auctions, Inc. Class A1 | 16,803 | 248,852 |
Construction & Engineering - 3.2% | ||
WillScot Mobile Mini Holdings Corp.1,3 | 47,900 | 1,874,327 |
Industrial Conglomerates - 0.9% | ||
General Electric Co.3 | 5,751 | 526,217 |
Professional Services - 6.2% | ||
Alight, Inc. Class A1 | 33,940 | 337,703 |
CACI International, Inc. Class A1 | 1,143 | 344,340 |
CoStar Group, Inc.1,3 | 39,600 | 2,637,756 |
Meridian Funds | 1 | www.meridianfund.com |
Meridian Enhanced Equity Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
March 31, 2022 (Unaudited)
Shares | Value | |
Dun & Bradstreet Holdings, Inc.1 | 17,063 | $298,944 |
3,618,743 | ||
Total Industrials | 11,029,327 | |
Information Technology - 41.8% | ||
Communications Equipment - 2.0% | ||
Starry, Inc. Acquisition Date: 3/28/22, Cost $1,250,0031,4 | 166,667 | 1,170,169 |
IT Services - 5.8% | ||
PayPal Holdings, Inc.1,3 | 16,067 | 1,858,148 |
SolarWinds Corp. | 22,571 | 300,420 |
Visa, Inc. Class A3 | 5,462 | 1,211,308 |
3,369,876 | ||
Semiconductors & Semiconductor Equipment - 14.3% | ||
Allegro MicroSystems, Inc. (Japan)1 | 11,599 | 329,412 |
Ambarella, Inc.1,3 | 9,400 | 986,248 |
GLOBALFOUNDRIES, Inc.1,2 | 10,106 | 630,816 |
NVIDIA Corp. | 2,064 | 563,183 |
ON Semiconductor Corp.1,3 | 64,400 | 4,032,084 |
QUALCOMM, Inc.3 | 11,700 | 1,787,994 |
8,329,737 | ||
Software - 15.1% | ||
Alkami Technology, Inc.1 | 17,923 | 256,478 |
KnowBe4, Inc. Class A1,3 | 82,800 | 1,906,056 |
Latch, Inc. Acquisition Date: 6/1/21, Cost $325,0001,4 | 32,500 | 138,775 |
Microsoft Corp.3 | 3,849 | 1,186,685 |
Monday.com Ltd.1,3 | 9,900 | 1,564,893 |
N-able, Inc.1 | 33,634 | 306,070 |
salesforce.com, Inc.1,3 | 2,184 | 463,707 |
Splunk, Inc.1,3 | 11,800 | 1,753,598 |
UiPath, Inc. Class A1,3 | 58,200 | 1,256,538 |
8,832,800 | ||
Technology Hardware, Storage & Peripherals - 4.6% | ||
Apple, Inc.3 | 6,155 | 1,074,725 |
Hewlett Packard Enterprise Co.3 | 98,000 | 1,637,580 |
2,712,305 | ||
Total Information Technology | 24,414,887 | |
Materials - 3.3% | ||
Chemicals - 3.3% | ||
Huntsman Corp.3 | 23,000 | 862,730 |
Valvoline, Inc.3 | 33,200 | 1,047,792 |
Total Materials | 1,910,522 | |
Real Estate - 2.7% | ||
Equity Real Estate Investment Trusts (REITS) - 2.7% | ||
Alexandria Real Estate Equities, Inc. | 1,970 | 396,462 |
American Tower Corp.3 | 2,378 | 597,401 |
Shares | Value | |
Equinix, Inc.3 | 772 | $572,531 |
Total Real Estate | 1,566,394 | |
Utilities - 2.1% | ||
Independent Power & Renewable Electricity Producers - 2.1% | ||
Vistra Corp. | 53,699 | 1,248,502 |
Total Utilities | 1,248,502 | |
Total Common Stocks - 124.7% (Cost $67,725,842) | 72,881,919 | |
Warrants - 0.0% | ||
Financials - 0.0% | ||
Capital Markets - 0.0% | ||
Executive Network Partnering Corp. Class A, Strike Price $11.50, Expires 9/25/281 | 4,325 | 1,356 |
Tishman Speyer Innovation Corp. II Class A, Strike Price $11.50, Expires 12/31/271 | 6,000 | 2,280 |
Total Financials | 3,636 | |
Total Warrants - 0.0% (Cost $8,660) | 3,636 |
Shares/ Principal Amount | ||
Short-Term Investments - 1.2%5 | ||
Repurchase Agreements - 1.2% | ||
Daiwa Capital Markets America, Inc., dated 3/31/22, due 4/1/22, 0.30% total to be received $205,922 (collateralized by various U.S. Government Sponsored Agency and U.S. Treasury Obligations, 0.00% - 6.50%, 4/5/22 - 4/1/52, totaling $210,038) | $205,920 | 205,920 |
National Bank Financial, Inc., dated 3/31/22, due 4/1/22, 0.34% total to be received $250,002 (collateralized by various U.S. Treasury Obligations, 0.00% - 3.00%, 4/1/22, totaling $255,001) | 250,000 | 250,000 |
Meridian Funds | 2 | www.meridianfund.com |
Meridian Enhanced Equity Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
March 31, 2022 (Unaudited)
Shares/ Principal Amount | Value | |
RBC Dominion Securities, Inc., dated 3/31/22, due 4/1/22, 0.30% total to be received $250,002 (collateralized by various U.S. Government Sponsored Agency and U.S. Treasury Obligations, 0.00% - 5.50%, 4/26/22 - 3/20/52, totaling $255,000) | $250,000 | $250,000 |
Total Repurchase Agreements (Cost $705,920) | 705,920 | |
Total Short-Term Investments - 1.2% (Cost $705,920) | 705,920 | |
Total Investments - 125.9% (Cost $68,440,422) | 73,591,475 | |
Liabilities in Excess of Other Assets - (25.9)% | (15,157,360) | |
Net Assets - 100.0% | $58,434,115 |
Value | ||
Call Options Written - (28.2)% | ||
Total Call Options Written - (28.2)% (Premium received $(16,259,114)) | $(16,470,418) |
Plc—Public Limited Company |
1 | Non-income producing securities. |
2 | All or portion of this security is on loan at March 31, 2022. Total value of such securities at period-end amounts to $1,175,075 and represents 2.01% of net assets. |
3 | Securities, or a portion thereof, were pledged as collateral for written options by the fund. |
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 $1,308,944 and represents 2.24% 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)
March 31, 2022 (Unaudited)
Exchange-Traded Options Written | ||||||||||||
Description | Strike Price | Expiration Date | Number of Contracts | Notional Amount | Premium Received | Value | ||||||
Call | ||||||||||||
Amazon.com, Inc. | 3,340.00 | 4/14/22 | 1 | $325,995 | $(4,129) | $(4,700) | ||||||
American Tower Corp. | 250.00 | 4/14/22 | 10 | 251,220 | (2,192) | (4,800) | ||||||
Apple, Inc. | 185.00 | 4/14/22 | 18 | 314,298 | (1,786) | (900) | ||||||
Equinix, Inc. | 750.00 | 4/14/22 | 3 | 222,486 | (2,128) | (4,350) | ||||||
Microsoft Corp. | 315.00 | 4/14/22 | 12 | 369,972 | (4,611) | (3,924) | ||||||
Rivian Automotive, Inc. Class A | 95.00 | 4/14/22 | 10 | 50,240 | (3,642) | (100) | ||||||
salesforce.com, Inc. | 230.00 | 4/14/22 | 8 | 169,856 | (2,594) | (480) | ||||||
Spectrum Brands Holdings, Inc. | 85.00 | 4/14/22 | 114 | 1,011,408 | (156,604) | (62,700) | ||||||
Valvoline, Inc. | 30.00 | 4/14/22 | 332 | 1,047,792 | (189,647) | (66,400) | ||||||
Visa, Inc. Class A | 240.00 | 4/14/22 | 20 | 443,540 | (6,385) | (840) | ||||||
Boeing Co. (The) | 200.00 | 6/17/22 | 78 | 1,493,700 | (352,660) | (78,000) | ||||||
Spectrum Brands Holdings, Inc. | 85.00 | 7/15/22 | 195 | 1,730,040 | (336,431) | (169,650) | ||||||
WillScot Mobile Mini Holdings Corp. | 30.00 | 7/15/22 | 382 | 1,494,766 | (223,285) | (385,820) | ||||||
Alcon, Inc. (Switzerland) | 70.00 | 8/19/22 | 97 | 769,501 | (100,742) | (140,650) | ||||||
PayPal Holdings, Inc. | 85.00 | 9/16/22 | 144 | 1,665,360 | (626,263) | (529,200) | ||||||
CoStar Group, Inc. | 45.00 | 10/21/22 | 198 | 1,318,878 | (325,256) | (467,280) | ||||||
CoStar Group, Inc. | 50.00 | 10/21/22 | 198 | 1,318,878 | (224,303) | (376,200) | ||||||
Dole Plc | 12.50 | 12/16/22 | 411 | 509,640 | (114,418) | (67,815) | ||||||
Dole Plc | 10.00 | 12/16/22 | 1,431 | 1,774,440 | (588,605) | (457,920) | ||||||
KnowBe4, Inc. Class A | 17.50 | 12/16/22 | 828 | 1,906,056 | (684,693) | (728,640) | ||||||
Monday.com Ltd. | 90.00 | 12/16/22 | 99 | 1,564,893 | (609,402) | (803,880) | ||||||
Ambarella, Inc. | 130.00 | 1/20/23 | 94 | 986,248 | (682,814) | (139,120) | ||||||
Coty, Inc. Class A | 7.00 | 1/20/23 | 3,080 | 2,768,920 | (1,383,614) | (862,400) | ||||||
General Electric Co. | 7.00 | 1/20/23 | 415 | 3,797,250 | (221,017) | (197,125) | ||||||
Hanesbrands, Inc. | 13.00 | 1/20/23 | 660 | 982,740 | (310,038) | (194,700) | ||||||
Huntsman Corp. | 27.00 | 1/20/23 | 230 | 862,730 | (170,964) | (278,300) | ||||||
ON Semiconductor Corp. | 32.00 | 1/20/23 | 644 | 4,032,084 | (937,437) | (2,093,000) | ||||||
Paramount Global Class B | 37.00 | 1/20/23 | 494 | 1,867,814 | (848,467) | (308,750) | ||||||
QUALCOMM, Inc. | 160.00 | 1/20/23 | 117 | 1,787,994 | (500,609) | (211,770) | ||||||
Wells Fargo & Co. | 42.50 | 1/20/23 | 246 | 1,192,116 | (223,606) | (232,470) | ||||||
Wells Fargo & Co. | 27.50 | 1/20/23 | 386 | 1,870,556 | (328,404) | (837,620) | ||||||
Hewlett Packard Enterprise Co. | 15.00 | 1/19/24 | 980 | 1,637,580 | (381,441) | (372,400) | ||||||
Lamb Weston Holdings, Inc. | 45.00 | 1/19/24 | 585 | 3,504,735 | (994,441) | (1,269,450) | ||||||
Levi Strauss & Co. Class A | 20.00 | 1/19/24 | 890 | 1,758,640 | (612,832) | (409,400) | ||||||
Maxar Technologies, Inc. | 17.50 | 1/19/24 | 784 | 3,093,664 | (974,505) | (2,085,440) | ||||||
Sally Beauty Holdings, Inc. | 12.50 | 1/19/24 | 1,700 | 2,657,100 | (1,342,714) | (1,360,000) | ||||||
Splunk, Inc. | 90.00 | 1/19/24 | 118 | 1,753,598 | (440,686) | (867,300) | ||||||
UiPath, Inc. Class A | 25.00 | 1/19/24 | 582 | 1,256,538 | (1,345,749) | (396,924) | ||||||
Total | $(16,259,114) | $(16,470,418) |
Meridian Funds | 4 | www.meridianfund.com |