Meridian Enhanced Equity Fund
Schedule of Investments
Schedule of Investments
September 30, 2020 (Unaudited)
Shares | Value | |
Common Stocks - 118.3% | ||
Communication Services - 21.3% | ||
Diversified Telecommunication Services - 6.7% | ||
GCI Liberty, Inc. Class A 1 | 24,297 | $1,991,382 |
Liberty Global Plc Class A (United Kingdom) 1,2 | 60,000 | 1,260,600 |
Verizon Communications, Inc. | 8,500 | 505,665 |
3,757,647 | ||
Entertainment - 4.9% | ||
Activision Blizzard, Inc. 2 | 14,873 | 1,203,970 |
Madison Square Garden Entertainment Corp. 1 | 7,000 | 479,430 |
Walt Disney Co. (The) | 8,927 | 1,107,662 |
2,791,062 | ||
Interactive Media & Services - 7.2% | ||
IAC/InterActiveCorp 1 | 2,000 | 239,560 |
Match Group, Inc. 1,2 | 4,316 | 477,565 |
Pinterest, Inc. Class A 1,2 | 80,000 | 3,320,800 |
4,037,925 | ||
Media - 2.5% | ||
Altice U.S.A., Inc. Class A 1 | 29,670 | 771,420 |
Boston Omaha Corp. Class A 1 | 21,306 | 340,896 |
Liberty Media Corp-Liberty SiriusXM Class A 1 | 8,500 | 281,945 |
Liberty Media Corp-Liberty SiriusXM Class C 1 | 799 | 26,431 |
1,420,692 | ||
Total Communication Services | 12,007,326 | |
Consumer Discretionary - 15.9% | ||
Hotels, Restaurants & Leisure - 1.3% | ||
Planet Fitness, Inc. Class A 1,2 | 12,000 | 739,440 |
Internet & Direct Marketing Retail - 3.1% | ||
Amazon.com, Inc. 1,2 | 561 | 1,766,437 |
Leisure Products - 1.0% | ||
Clarus Corp. | 39,140 | 552,657 |
Hasbro, Inc. 2 | 400 | 33,088 |
585,745 | ||
Specialty Retail - 2.7% | ||
Home Depot, Inc. (The) | 3,867 | 1,073,905 |
Vroom, Inc. 1 | 8,916 | 461,670 |
1,535,575 | ||
Textiles, Apparel & Luxury Goods - 7.8% | ||
Hanesbrands, Inc. 2 | 100,000 | 1,575,000 |
NIKE, Inc. Class B | 10,290 | 1,291,807 |
Skechers U.S.A., Inc. Class A 1,2 | 50,000 | 1,511,000 |
4,377,807 | ||
Total Consumer Discretionary | 9,005,004 |
Shares | Value | |
Consumer Staples - 8.2% | ||
Food & Staples Retailing - 1.9% | ||
Costco Wholesale Corp. | 3,038 | $1,078,490 |
Food Products - 6.3% | ||
Lamb Weston Holdings, Inc. 2 | 32,000 | 2,120,640 |
TreeHouse Foods, Inc. 1,2 | 35,000 | 1,418,550 |
3,539,190 | ||
Tobacco - 0.0% | ||
Altria Group, Inc. 2 | 400 | 15,456 |
Total Consumer Staples | 4,633,136 | |
Energy - 2.8% | ||
Oil, Gas & Consumable Fuels - 2.8% | ||
Cheniere Energy, Inc. 1 | 2,571 | 118,960 |
Magellan Midstream Partners LP 2 | 41,000 | 1,402,200 |
Marathon Petroleum Corp. 2 | 1,800 | 52,812 |
Total Energy | 1,573,972 | |
Financials - 12.7% | ||
Banks - 7.9% | ||
Bank of America Corp. 2 | 20,000 | 481,800 |
Citigroup, Inc. 2 | 34,800 | 1,500,228 |
JPMorgan Chase & Co. 2 | 10,000 | 962,700 |
U.S. Bancorp | 22,303 | 799,563 |
Wells Fargo & Co. 2 | 30,000 | 705,300 |
4,449,591 | ||
Capital Markets - 3.1% | ||
Executive Network Partnering Corp. 1 | 11,535 | 291,259 |
Foley Trasimene Acquisition Corp. 1 | 25,000 | 282,250 |
Intercontinental Exchange, Inc. | 11,815 | 1,182,090 |
1,755,599 | ||
Insurance - 1.7% | ||
Fidelity National Financial, Inc. 2 | 30,000 | 939,300 |
Total Financials | 7,144,490 | |
Health Care - 4.2% | ||
Biotechnology - 3.6% | ||
Alnylam Pharmaceuticals, Inc. 1 | 1,249 | 181,854 |
Exact Sciences Corp. 1,2,3 | 15,146 | 1,544,135 |
Heron Therapeutics, Inc. 1,3 | 18,813 | 278,809 |
2,004,798 | ||
Health Care Technology - 0.6% | ||
Teladoc Health, Inc. 1,3 | 1,559 | 341,795 |
Total Health Care | 2,346,593 | |
Industrials - 11.2% | ||
Electrical Equipment - 3.4% | ||
Sensata Technologies Holding Plc 1,2 | 45,000 | 1,941,300 |
Meridian Funds | 1 | www.meridianfund.com |
Meridian Enhanced Equity Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2020 (Unaudited)
Shares | Value | |
Machinery - 2.4% | ||
Tennant Co. 2 | 22,000 | $1,327,920 |
Professional Services - 5.4% | ||
Dun & Bradstreet Holdings, Inc. 1,3 | 10,000 | 256,600 |
IHS Markit Ltd. (United Kingdom) | 12,648 | 992,995 |
Verisk Analytics, Inc. 2 | 9,700 | 1,797,507 |
3,047,102 | ||
Total Industrials | 6,316,322 | |
Information Technology - 31.8% | ||
Electronic Equipment, Instruments & Components - 0.8% | ||
Belden, Inc. 2 | 15,000 | 466,800 |
IT Services - 8.8% | ||
CACI International, Inc. Class A 1 | 1,300 | 277,108 |
Mastercard, Inc. Class A 2 | 4,800 | 1,623,216 |
PayPal Holdings, Inc. 1,2 | 7,252 | 1,428,861 |
Visa, Inc. Class A 3 | 8,142 | 1,628,156 |
4,957,341 | ||
Semiconductors & Semiconductor Equipment - 5.6% | ||
NVIDIA Corp. | 2,254 | 1,219,910 |
ON Semiconductor Corp. 1,2 | 90,000 | 1,952,100 |
3,172,010 | ||
Software - 13.5% | ||
Cerence, Inc. 1,3 | 4,984 | 243,568 |
Microsoft Corp. | 8,202 | 1,725,127 |
Palo Alto Networks, Inc. 1,2 | 10,000 | 2,447,500 |
salesforce.com, Inc. 1,2 | 7,564 | 1,900,984 |
Workday, Inc. Class A 1 | 1,500 | 322,695 |
Zuora, Inc. Class A 1,2 | 94,000 | 971,960 |
7,611,834 | ||
Technology Hardware, Storage & Peripherals - 3.1% | ||
Apple, Inc. 2 | 15,200 | 1,760,312 |
Total Information Technology | 17,968,297 | |
Materials - 5.6% | ||
Chemicals - 1.9% | ||
Huntsman Corp. 2 | 50,000 | 1,110,500 |
Containers & Packaging - 3.7% | ||
Ball Corp. 2 | 25,000 | 2,078,000 |
Total Materials | 3,188,500 | |
Real Estate - 2.8% | ||
Equity Real Estate Investment Trusts (REITS) - 2.8% | ||
American Tower Corp. | 3,099 | 749,121 |
Shares | Value | |
Equinix, Inc. | 1,116 | $848,305 |
Total Real Estate | 1,597,426 | |
Utilities - 1.8% | ||
Independent Power & Renewable Electricity Producers - 1.8% | ||
Vistra Corp. | 53,699 | 1,012,763 |
Total Utilities | 1,012,763 | |
Total Common Stocks - 118.3% (Cost $54,206,866) | 66,793,829 |
Shares/ Principal Amount | ||
Short-Term Investments - 0.3%4 | ||
Repurchase Agreements - 0.3% | ||
Citigroup Global Markets, Inc., dated 9/30/20, due 10/1/20, 0.08% total to be received $155,252 (collateralized by various U.S. Government Sponsored Agency and U.S. Treasury Obligations, 0.00% - 4.63%, 11/27/20 - 11/1/59, totaling $158,357) (Cost $155,252) | $155,252 | 155,252 |
Total Short-Term Investments - 0.3% (Cost $155,252) | 155,252 | |
Total Investments - 118.6% (Cost $54,362,118) | 66,949,081 | |
Liabilities in Excess of Other Assets - (18.6)% | (10,493,527) | |
Net Assets - 100.0% | $56,455,554 |
Value | ||
Call Options Written - (20.7)% | ||
Total Call Options Written - (20.7)% (Premium received $(10,202,460)) | $(11,692,181) |
Meridian Funds | 2 | www.meridianfund.com |
Meridian Enhanced Equity Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2020 (Unaudited)
Plc—Public Limited Company |
1 | Non-income producing securities. |
2 | Securities, or a portion thereof, were pledged as collateral for written options by the fund. |
3 | All or portion of this security is on loan at September 30, 2020. Total value of such securities at period-end amounts to $3,069,662 and represents 5.44% of net assets. |
4 | 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
Schedule of Investments
September 30, 2020 (Unaudited)
Exchange-Traded Options Written | ||||||||||||
Description | Strike Price | Expiration Date | Number of Contracts | Notional Amount | Premium Received | Value | ||||||
Call | ||||||||||||
Amazon.com, Inc. | 3,750.00 | 10/16/20 | 1 | $314,873 | $(11,424) | $(387) | ||||||
Apple, Inc. | 145.00 | 10/16/20 | 12 | 138,972 | (6,290) | (84) | ||||||
Hasbro, Inc. | 50.00 | 10/16/20 | 4 | 33,088 | (9,694) | (13,320) | ||||||
PayPal Holdings, Inc. | 230.00 | 10/16/20 | 12 | 236,436 | (4,910) | (240) | ||||||
salesforce.com, Inc. | 270.00 | 10/16/20 | 10 | 251,320 | (18,992) | (2,500) | ||||||
TreeHouse Foods, Inc. | 30.00 | 11/20/20 | 250 | 1,013,250 | (296,147) | (282,500) | ||||||
Belden, Inc. | 25.00 | 12/18/20 | 150 | 466,800 | (146,879) | (109,500) | ||||||
Liberty Global Plc Class A (United Kingdom) | 22.50 | 12/18/20 | 300 | 630,300 | (217,539) | (36,000) | ||||||
Liberty Global Plc Class A (United Kingdom) | 25.00 | 12/18/20 | 300 | 630,300 | (173,847) | (18,000) | ||||||
Zuora, Inc. Class A | 7.00 | 12/18/20 | 300 | 310,200 | (157,462) | (111,000) | ||||||
Altria Group, Inc. | 32.50 | 1/15/21 | 4 | 15,456 | (3,695) | (3,020) | ||||||
Citigroup, Inc. | 52.50 | 1/15/21 | 100 | 431,100 | (147,392) | (10,500) | ||||||
Exact Sciences Corp. | 35.00 | 1/15/21 | 120 | 1,223,400 | (359,418) | (829,800) | ||||||
Hanesbrands, Inc. | 10.00 | 1/15/21 | 1,000 | 1,575,000 | (419,207) | (600,000) | ||||||
Huntsman Corp. | 15.00 | 1/15/21 | 500 | 1,110,500 | (319,601) | (385,000) | ||||||
Lamb Weston Holdings, Inc. | 50.00 | 1/15/21 | 320 | 2,120,640 | (606,348) | (582,400) | ||||||
Marathon Petroleum Corp. | 20.00 | 1/15/21 | 18 | 52,812 | (23,403) | (18,900) | ||||||
ON Semiconductor Corp. | 15.00 | 1/15/21 | 900 | 1,952,100 | (568,549) | (677,700) | ||||||
Pinterest, Inc. Class A | 13.00 | 1/15/21 | 800 | 3,320,800 | (743,357) | (2,284,000) | ||||||
Planet Fitness, Inc. Class A | 25.00 | 1/15/21 | 120 | 739,440 | (197,802) | (457,200) | ||||||
Skechers U.S.A., Inc. Class A | 25.00 | 1/15/21 | 500 | 1,511,000 | (448,698) | (335,000) | ||||||
Tennant Co. | 55.00 | 1/15/21 | 220 | 1,327,920 | (309,481) | (297,000) | ||||||
TreeHouse Foods, Inc. | 35.00 | 2/19/21 | 100 | 405,300 | (109,565) | (77,000) | ||||||
Fidelity National Financial, Inc. | 25.00 | 3/19/21 | 300 | 939,300 | (260,059) | (225,000) | ||||||
Match Group, Inc. | 75.00 | 3/19/21 | 39 | 431,535 | (97,082) | (155,220) | ||||||
Sensata Technologies Holding Plc | 30.00 | 3/19/21 | 450 | 1,941,300 | (501,648) | (684,000) | ||||||
Activision Blizzard, Inc. | 70.00 | 4/16/21 | 143 | 1,157,585 | (247,701) | (238,810) | ||||||
Bank of America Corp. | 18.00 | 6/18/21 | 200 | 481,800 | (156,190) | (136,000) | ||||||
JPMorgan Chase & Co. | 65.00 | 6/18/21 | 100 | 962,700 | (339,514) | (331,000) | ||||||
Mastercard, Inc. Class A | 320.00 | 6/18/21 | 48 | 1,623,216 | (310,275) | (232,320) | ||||||
Palo Alto Networks, Inc. | 185.00 | 6/18/21 | 100 | 2,447,500 | (641,486) | (707,500) | ||||||
Wells Fargo & Co. | 20.00 | 6/18/21 | 300 | 705,300 | (184,535) | (162,000) | ||||||
Verisk Analytics, Inc. | 170.00 | 8/20/21 | 97 | 1,797,507 | (324,391) | (305,550) | ||||||
Ball Corp. | 70.00 | 1/21/22 | 250 | 2,078,000 | (434,009) | (525,000) | ||||||
Citigroup, Inc. | 42.50 | 1/21/22 | 248 | 1,069,128 | (374,577) | (179,800) | ||||||
Magellan Midstream Partners LP | 35.00 | 1/21/22 | 110 | 376,200 | (124,885) | (48,730) | ||||||
Magellan Midstream Partners LP | 32.50 | 1/21/22 | 300 | 1,026,000 | (330,923) | (195,000) | ||||||
Zuora, Inc. Class A | 5.00 | 1/21/22 | 640 | 661,760 | (575,485) | (435,200) | ||||||
Total | $(10,202,460) | $(11,692,181) |
Meridian Funds | 4 | www.meridianfund.com |