Meridian Enhanced Equity Fund
Schedule of Investments
Schedule of Investments
March 31, 2021 (Unaudited)
Shares | Value | |
Common Stocks - 118.7% | ||
Communication Services - 16.5% | ||
Diversified Telecommunication Services - 1.7% | ||
Liberty Global Plc Class A (United Kingdom) 1,2 | 28,900 | $741,574 |
Verizon Communications, Inc. | 5,657 | 328,955 |
1,070,529 | ||
Entertainment - 9.0% | ||
Activision Blizzard, Inc. 1 | 14,873 | 1,383,189 |
Live Nation Entertainment, Inc. 1,2 | 24,500 | 2,073,925 |
Madison Square Garden Entertainment Corp. 2,3 | 4,860 | 397,548 |
Walt Disney Co. (The) 2 | 8,927 | 1,647,210 |
5,501,872 | ||
Interactive Media & Services - 0.8% | ||
IAC/InterActiveCorp 1,2 | 2,000 | 432,620 |
Match Group, Inc. 2,3 | 416 | 57,150 |
489,770 | ||
Media - 5.0% | ||
Altice U.S.A., Inc. Class A 2 | 21,174 | 688,790 |
Boston Omaha Corp. Class A 2,3 | 9,070 | 268,109 |
Liberty Broadband Corp. Class C 2 | 10,440 | 1,567,566 |
Liberty Media Corp-Liberty SiriusXM Class A 2 | 11,000 | 484,880 |
Liberty Media Corp-Liberty SiriusXM Class C 2 | 799 | 35,244 |
3,044,589 | ||
Total Communication Services | 10,106,760 | |
Consumer Discretionary - 13.4% | ||
Internet & Direct Marketing Retail - 3.6% | ||
Amazon.com, Inc. 1,2 | 548 | 1,695,556 |
Coupang, Inc. (South Korea) 2,3 | 10,000 | 493,500 |
2,189,056 | ||
Leisure Products - 0.5% | ||
Clarus Corp. | 18,367 | 313,158 |
Specialty Retail - 2.6% | ||
Home Depot, Inc. (The) | 3,386 | 1,033,576 |
Shift Technologies, Inc. 2,3 | 37,155 | 309,130 |
Vroom, Inc. 2,3 | 7,381 | 287,785 |
1,630,491 | ||
Textiles, Apparel & Luxury Goods - 6.7% | ||
NIKE, Inc. Class B | 8,906 | 1,183,518 |
Skechers U.S.A., Inc. Class A 1,2 | 69,400 | 2,894,674 |
4,078,192 | ||
Total Consumer Discretionary | 8,210,897 |
Shares | Value | |
Consumer Staples - 4.1% | ||
Food & Staples Retailing - 1.0% | ||
Costco Wholesale Corp. | 1,736 | $611,905 |
Food Products - 1.4% | ||
TreeHouse Foods, Inc. 1,2 | 17,000 | 888,080 |
Household Products - 1.7% | ||
Spectrum Brands Holdings, Inc. 1 | 12,000 | 1,020,000 |
Total Consumer Staples | 2,519,985 | |
Energy - 0.8% | ||
Oil, Gas & Consumable Fuels - 0.8% | ||
Magellan Midstream Partners LP 1 | 11,000 | 476,960 |
Total Energy | 476,960 | |
Financials - 16.8% | ||
Banks - 12.4% | ||
Bank of America Corp. 1 | 27,900 | 1,079,451 |
Citigroup, Inc. 1 | 24,800 | 1,804,200 |
U.S. Bancorp | 22,303 | 1,233,579 |
Wells Fargo & Co. 1 | 88,800 | 3,469,416 |
7,586,646 | ||
Capital Markets - 4.4% | ||
Executive Network Partnering Corp. Class A 2 | 17,302 | 168,180 |
Executive Network Partnering Corp. 2 | 11,535 | 115,004 |
Foley Trasimene Acquisition Corp. 2,3 | 25,000 | 267,500 |
Intercontinental Exchange, Inc. | 13,254 | 1,480,207 |
Tishman Speyer Innovation Corp. II 2 | 30,000 | 300,600 |
Yellowstone Acquisition Co. 2,3 | 34,800 | 358,440 |
2,689,931 | ||
Total Financials | 10,276,577 | |
Health Care - 3.8% | ||
Biotechnology - 3.0% | ||
Exact Sciences Corp. 1,2 | 2,214 | 291,761 |
Heron Therapeutics, Inc. 2,3 | 16,635 | 269,653 |
Instil Bio, Inc. 2 | 17,500 | 438,900 |
NexImmune, Inc. 2 | 44,632 | 851,579 |
1,851,893 | ||
Health Care Equipment & Supplies - 0.4% | ||
Talis Biomedical Corp. 2,3 | 19,375 | 248,969 |
Health Care Technology - 0.4% | ||
Teladoc Health, Inc. 1,2 | 1,110 | 201,742 |
Total Health Care | 2,302,604 | |
Industrials - 13.1% | ||
Industrial Conglomerates - 3.3% | ||
General Electric Co. 1 | 154,200 | 2,024,646 |
Meridian Funds | 1 | www.meridianfund.com |
Meridian Enhanced Equity Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
March 31, 2021 (Unaudited)
Shares | Value | |
Professional Services - 4.9% | ||
CACI International, Inc. Class A 2 | 1,300 | $320,658 |
Dun & Bradstreet Holdings, Inc. 2,3 | 12,432 | 296,006 |
IHS Markit Ltd. (United Kingdom) | 6,856 | 663,524 |
Verisk Analytics, Inc. 1 | 9,700 | 1,713,893 |
2,994,081 | ||
Trading Companies & Distributors - 4.9% | ||
WW Grainger, Inc. 1 | 7,500 | 3,006,975 |
Total Industrials | 8,025,702 | |
Information Technology - 35.6% | ||
IT Services - 7.5% | ||
Mastercard, Inc. Class A 1 | 4,800 | 1,709,040 |
PayPal Holdings, Inc. 2 | 5,008 | 1,216,143 |
Visa, Inc. Class A 3 | 7,800 | 1,651,494 |
4,576,677 | ||
Semiconductors & Semiconductor Equipment - 6.5% | ||
Allegro MicroSystems, Inc. (Japan) 2,3 | 10,356 | 262,525 |
NVIDIA Corp. 1 | 1,900 | 1,014,467 |
ON Semiconductor Corp. 1,2 | 64,400 | 2,679,684 |
3,956,676 | ||
Software - 18.9% | ||
ACV Auctions, Inc. Class A 2 | 39,400 | 1,363,634 |
McAfee Corp. Class A 1 | 3,200 | 72,768 |
Microsoft Corp. | 7,694 | 1,814,014 |
Palo Alto Networks, Inc. 1,2 | 10,000 | 3,220,600 |
salesforce.com, Inc. 1,2 | 6,500 | 1,377,155 |
Splunk, Inc. 1,2 | 11,800 | 1,598,664 |
Workday, Inc. Class A 1,2 | 1,256 | 312,028 |
Zuora, Inc. Class A 1,2 | 120,800 | 1,787,840 |
11,546,703 | ||
Technology Hardware, Storage & Peripherals - 2.7% | ||
Apple, Inc. 1 | 13,674 | 1,670,279 |
Total Information Technology | 21,750,335 | |
Materials - 6.7% | ||
Containers & Packaging - 3.5% | ||
Ball Corp. 1 | 25,000 | 2,118,500 |
Paper & Forest Products - 3.2% | ||
Domtar Corp. 1 | 54,000 | 1,995,300 |
Total Materials | 4,113,800 | |
Real Estate - 2.6% | ||
Equity Real Estate Investment Trusts (REITS) - 2.6% | ||
American Tower Corp. | 3,252 | 777,423 |
Equinix, Inc. | 1,212 | 823,663 |
Total Real Estate | 1,601,086 |
Shares | Value | |
Telecommunication Services - 3.7% | ||
Media - 3.7% | ||
ViacomCBS, Inc. Class B | 49,400 | $2,227,940 |
Total Telecommunication Services | 2,227,940 | |
Utilities - 1.6% | ||
Independent Power & Renewable Electricity Producers - 1.6% | ||
Vistra Corp. | 53,699 | 949,398 |
Total Utilities | 949,398 | |
Total Common Stocks - 118.7% (Cost $55,830,122) | 72,562,044 | |
Warrants - 0.0% | ||
Financials - 0.0% | ||
Capital Markets - 0.0% | ||
Executive Network Partnering Corp. Class A, Strike Price $11.50, Expires 9/25/28 2 | 4,326 | 3,644 |
Total Financials | 3,644 | |
Total Warrants - 0.0% (Cost $3,410) | 3,644 |
Shares/ Principal Amount | ||
Short-Term Investments - 1.5%4 | ||
Repurchase Agreements - 1.5% | ||
Bank of America Securities, Inc., dated 3/31/21, due 4/1/21, 0.01% total to be received $250,000 (collateralized by various U.S. Government Sponsored Agency, 1.00% - 5.50%, 6/1/24 - 1/1/59, totaling $255,000) | $250,000 | 250,000 |
Citigroup Global Markets, Inc., dated 3/31/21, due 4/1/21, 0.01% total to be received $250,000 (collateralized by various U.S. Government Sponsored Agency and U.S. Treasury Obligations, 1.13% - 4.00%, 5/15/23 - 9/15/57, totaling $255,000) | 250,000 | 250,000 |
Meridian Funds | 2 | www.meridianfund.com |
Meridian Enhanced Equity Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
March 31, 2021 (Unaudited)
Shares/ Principal Amount | Value | |
Daiwa Capital Markets America, Inc., dated 3/31/21, due 4/1/21, 0.01% total to be received $250,000 (collateralized by various U.S. Government Sponsored Agency and U.S. Treasury Obligations, 0.00% - 7.00%, 5/4/21 - 4/1/51, totaling $255,000) | $250,000 | $250,000 |
Nomura Securities International, Inc., dated 3/31/21, due 4/1/21, 0.01% total to be received $172,677 (collateralized by various U.S. Government Sponsored Agency, 2.00% - 4.00%, 11/1/35 - 2/15/61, totaling $176,131) | 172,677 | 172,677 |
Total Repurchase Agreements (Cost $922,677) | 922,677 | |
Total Short-Term Investments - 1.5% (Cost $922,677) | 922,677 | |
Total Investments - 120.2% (Cost $56,756,209) | 73,488,365 | |
Liabilities in Excess of Other Assets - (20.2)% | (12,360,378) | |
Net Assets - 100.0% | $61,127,987 |
Value | ||
Call Options Written - (22.1)% | ||
Total Call Options Written - (22.1)% (Premium received $(9,889,749)) | $(13,498,967) |
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 March 31, 2021. Total value of such securities at period-end amounts to $4,569,333 and represents 7.48% 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
March 31, 2021 (Unaudited)
Exchange-Traded Options Written | ||||||||||||
Description | Strike Price | Expiration Date | Number of Contracts | Notional Amount | Premium Received | Value | ||||||
Call | ||||||||||||
Activision Blizzard, Inc. | 70.00 | 4/16/21 | 143 | $1,329,900 | $(247,701) | $(351,780) | ||||||
Amazon.com, Inc. | 3,200.00 | 4/16/21 | 1 | 309,408 | (4,039) | (2,000) | ||||||
Apple, Inc. | 130.00 | 4/16/21 | 25 | 305,375 | (5,405) | (950) | ||||||
Exact Sciences Corp. | 125.00 | 4/16/21 | 11 | 144,958 | (8,021) | (10,428) | ||||||
IAC/InterActiveCorp | 250.00 | 4/16/21 | 4 | 86,524 | (2,637) | (260) | ||||||
NVIDIA Corp. | 525.00 | 4/16/21 | 4 | 213,572 | (6,177) | (8,100) | ||||||
salesforce.com, Inc. | 230.00 | 4/16/21 | 13 | 275,431 | (3,162) | (754) | ||||||
Teladoc Health, Inc. | 200.00 | 4/16/21 | 6 | 109,050 | (6,475) | (1,260) | ||||||
Workday, Inc. Class A | 250.00 | 4/16/21 | 6 | 149,058 | (3,235) | (4,890) | ||||||
TreeHouse Foods, Inc. | 35.00 | 5/21/21 | 170 | 888,080 | (112,914) | (340,000) | ||||||
Bank of America Corp. | 18.00 | 6/18/21 | 29 | 112,201 | (22,648) | (61,480) | ||||||
Mastercard, Inc. Class A | 320.00 | 6/18/21 | 48 | 1,709,040 | (310,275) | (204,000) | ||||||
McAfee Corp. Class A | 15.00 | 6/18/21 | 32 | 72,768 | (9,575) | (25,600) | ||||||
Palo Alto Networks, Inc. | 185.00 | 6/18/21 | 100 | 3,220,600 | (641,486) | (1,422,000) | ||||||
Wells Fargo & Co. | 20.00 | 6/18/21 | 300 | 1,172,100 | (184,535) | (571,500) | ||||||
Spectrum Brands Holdings, Inc. | 55.00 | 7/16/21 | 120 | 1,020,000 | (167,902) | (390,000) | ||||||
Verisk Analytics, Inc. | 170.00 | 8/20/21 | 97 | 1,713,893 | (324,391) | (160,050) | ||||||
General Electric Co. | 9.00 | 9/17/21 | 375 | 492,375 | (113,728) | (163,125) | ||||||
Zuora, Inc. Class A | 8.00 | 11/19/21 | 570 | 843,600 | (370,097) | (416,100) | ||||||
WW Grainger, Inc. | 340.00 | 12/17/21 | 75 | 3,006,975 | (455,613) | (619,500) | ||||||
Ball Corp. | 70.00 | 1/21/22 | 250 | 2,118,500 | (434,009) | (452,500) | ||||||
Bank of America Corp. | 25.00 | 1/21/22 | 250 | 967,250 | (143,550) | (351,500) | ||||||
Citigroup, Inc. | 42.50 | 1/21/22 | 248 | 1,804,200 | (374,577) | (814,680) | ||||||
Domtar Corp. | 25.00 | 1/21/22 | 540 | 1,995,300 | (494,653) | (739,800) | ||||||
General Electric Co. | 10.00 | 1/21/22 | 750 | 984,750 | (207,156) | (282,000) | ||||||
Liberty Global Plc Class A (United Kingdom) | 22.50 | 1/21/22 | 288 | 739,008 | (125,897) | (135,360) | ||||||
Live Nation Entertainment, Inc. | 57.50 | 1/21/22 | 245 | 2,073,925 | (521,646) | (763,175) | ||||||
Magellan Midstream Partners LP | 35.00 | 1/21/22 | 110 | 476,960 | (124,885) | (97,020) | ||||||
Skechers U.S.A., Inc. Class A | 28.00 | 1/21/22 | 694 | 2,894,674 | (737,160) | (1,117,340) | ||||||
Zuora, Inc. Class A | 5.00 | 1/21/22 | 638 | 944,240 | (573,687) | (797,500) | ||||||
General Electric Co. | 7.00 | 1/20/23 | 417 | 547,521 | (222,082) | (281,475) | ||||||
ON Semiconductor Corp. | 32.00 | 1/20/23 | 644 | 2,679,684 | (937,437) | (1,023,960) | ||||||
Splunk, Inc. | 140.00 | 1/20/23 | 118 | 1,598,664 | (644,263) | (342,200) | ||||||
ViacomCBS, Inc. Class B | 37.00 | 1/20/23 | 494 | 2,227,940 | (848,468) | (755,820) | ||||||
Wells Fargo & Co. | 27.50 | 1/20/23 | 588 | 2,297,316 | (500,263) | (790,860) | ||||||
Total | $(9,889,749) | $(13,498,967) |
Meridian Funds | 4 | www.meridianfund.com |